Search Results for keywords:"final rule"

The Federal Reserve System has made a correction to the definition of "eligible retained income" in its capital rule, which affects how banks calculate limits on capital distributions and bonuses. This change clarifies inconsistencies introduced by the stress capital buffer rule and aligns with definitions set in previous rules from March and October 2020. The corrected rule is effective from January 15, 2021. For more details, contact the legal team at the Federal Reserve using the provided phone numbers.

The U.S. Department of Commerce is postponing the start date of the "Aluminum Import Monitoring and Analysis System" from January 25, 2021, to March 29, 2021. This delay allows for the new Administration to review the final rule and gather more public comments before implementing it. Despite the system being operational online, licenses for aluminum imports will not be required until after the new effective date. The Department is inviting public comments on the rule through the Federal eRulemaking Portal until February 26, 2021.

The National Highway Traffic Safety Administration (NHTSA) has issued a final rule to modify event data recorders (EDRs) requirements. The rule changes the duration and frequency at which EDRs record pre-crash data from 5 seconds at 2 Hz to 20 seconds at 10 Hz. These changes, effective by September 2027 for most manufacturers, aim to provide investigators with better data to understand vehicle crashes. The rule responds to a mandate by the Fixing America's Surface Transportation (FAST) Act and includes allowances for small-volume and limited-line manufacturers to comply by later dates.

The Department of Commerce has issued a final rule to adjust civil monetary penalties (CMPs) for inflation as mandated by federal law. This rule applies to CMPs with specific dollar amounts and is set to become effective on January 15, 2025. The adjustments are based on the Consumer Price Index changes from October 2023 to October 2024, ensuring that penalties keep their deterrence value. These changes apply only to penalties assessed after the rule's effective date and do not involve prior public notice or comment since the adjustments follow a prescribed methodology.

The U.S. Department of Commerce has issued a final rule concerning the review of transactions involving information and communications technology and services (ICTS) linked to foreign adversaries. This rule establishes procedures to evaluate such transactions for risks to national security, potentially prohibiting them or requiring mitigation measures if they pose undue threats. The rule includes new definitions and procedural updates to clarify transaction reviews, address public comments, and streamline processes. The measures aim to safeguard the ICTS supply chain from foreign threats, enhance transparency, and provide guidelines for penalties if regulations are violated.

The Federal Aviation Administration (FAA) has issued a final rule that updates certain Standard Instrument Approach Procedures (SIAPs) and related guidelines at various airports. These updates are necessary due to new safety criteria, changes in the National Airspace System, and the introduction of new equipment or obstacles. The changes are intended to improve safety and efficiency for flights operating under instrument flight rules. The rule is effective from January 8, 2025, with specific compliance dates mentioned within the rule's provisions.

The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule updating how it calculates the value of payments owed to people in closing single-employer pension plans. This change affects how these values, based on interest rates, are calculated from January 31, 2025, to April 29, 2025. The new rule specifies the methods for aligning these calculations with current market rates to ensure they accurately reflect group annuity prices. The rule takes effect on January 31, 2025, and was released without the typical public comment period to expedite its implementation and align these interest assumptions with market changes.

The Financial Crimes Enforcement Network (FinCEN), part of the Treasury Department, published a final rule to update civil monetary penalties (CMPs) to account for inflation as required by law. This update is in line with the Federal Civil Penalties Inflation Adjustment Act, which mandates annual adjustments to ensure the penalties maintain their deterrent effect. The rule applies to penalties assessed after its effective date, January 28, 2021, and does not require a public comment period because the adjustments are routine calculations.

The Environmental Protection Agency (EPA) issued a final rule determining that the St. Clair, Michigan area met the 2010 sulfur dioxide (SO₂) national ambient air quality standards by September 12, 2021. This decision is based on various data, including emissions and air quality reports. However, the area remains classified as nonattainment for these standards until specific criteria are met. This action, effective January 27, 2025, does not create new requirements or significantly impact small entities.

The Coast Guard has decided to remove a regulated navigation area in Sparkman Channel, Tampa, Florida. Initially, the area restricted vessel drafts to protect navigation due to an underwater pipeline, but advancements in technology have rendered these restrictions unnecessary. The change, effective March 4, 2021, aims to eliminate these outdated limitations, and the Coast Guard sees no significant impact on small businesses or the environment. This action is being taken under the authority granted by U.S. law, and no new rules or navigational hurdles are being introduced by this change.