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Federal Register Highlights – 7/23/15

July 23, 2015

Unpublished, time-sensitive and proposed rules for July 23, 2015:

RULE: We are adopting a new airworthiness directive (AD) for certain Bell Helicopter Textron, Inc. (Bell), Model 204B, 205A, 205A–1, and 212 helicopters. This AD requires removing a certain part-numbered main rotor (M/R) blade grip (grip) from service. This AD is prompted by an error in a parts manufacturer approval (PMA) that incorrectly allows installation of the grips on the Bell Model 212. The actions specified in this AD are intended to prevent grip failure, separation of the M/R blade, and subsequent loss of control of the helicopter. This AD becomes effective August 7, 2015. AD 2015-15-04

PROPOSED RULE: The Board invites comment on a notice of proposed rulemaking to revise the capital plan and stress test rules for large bank holding companies and certain banking organizations with total consolidated assets of more than $10 billion. The proposed changes would apply beginning with the 2016 capital plan and stress test cycles. For all banking organizations, the proposal would remove the tier 1 common capital ratio requirement. For large bank holding companies, the proposal would modify the stress test capital action assumptions. For banking organizations subject to the advanced approaches, the proposal would delay the incorporation of the supplementary leverage ratio for one year and indefinitely defer the use of the advanced approaches risk-based capital framework in the capital plan and stress test rules. For bank holding companies with total consolidated assets of more than $10 billion but less than $50 billion and savings and loan holding companies with total consolidated assets of more than $10 billion, the proposal would eliminate the fixed assumptions regarding dividend payments for company-run stress tests and delay the application of stress testing for these savings and loan holding companies for one year. The proposal would also make certain technical amendments to the capital plan and stress test rules to incorporate changes related to other rulemakings. Comments must be received on or before September 24, 2015. (To submit comments, visit www.regulations.gov. Click here to be taken directly to the commenting page.)

PROPOSED RULE: This document contains proposed regulations relating to disguised payments for services under section 707(a)(2)(A) of the Internal Revenue Code. The proposed regulations provide guidance to partnerships and their partners regarding when an arrangement will be treated as a disguised payment for services. This document also proposes conforming modifications to the regulations governing guaranteed payments under section 707(c). Additionally, this document provides notice of proposed modifications to Rev. Procs. 93–27 and 2001–43 relating to the issuance of interests in partnership profits to service providers. Written and electronic comments and requests for a public hearing must be received by October 21, 2015. (To submit comments, visit www.regulations.gov. Click here to be taken directly to the commenting page.)

PROPOSED RULE: NMFS proposes and seeks comments on a proposed rule and proposed specifications to be issued under authority of the Western and Central Pacific Fisheries Convention Implementation Act (WCPFC Implementation Act). The proposed rule would establish a framework under which NMFS would specify limits on fishing effort and catches, as well as spatial and temporal restrictions on particular fishing activities and other requirements, in U.S. fisheries for highly migratory fish species in the western and central Pacific Ocean (WCPO). NMFS would issue the specifications as needed to implement conservation and management measures adopted by the Commission for the Conservation and Management of Highly Migratory Fish Stocks in the Western and Central Pacific Ocean (Commission or WCPFC). The proposed rule also would require that certain U.S. fishing vessels operating in the WCPO obtain “IMO numbers.” The proposed rule also includes changes to regulations regarding tuna catch retention requirements for purse seine vessels, requirements to install and carry vessel monitoring system (VMS) units, daily reporting requirements, and other changes that are administrative in nature. Using the proposed regulatory framework described above, NMFS proposes restrictions on the use of fish aggregating devices by purse seine vessels in 2015. These actions are necessary to satisfy the obligations of the United States under the Convention on the Conservation and Management of Highly Migratory Fish Stocks in the Western and Central Pacific Ocean, to which it is a Contracting Party. Comments on the proposed rule or proposed specifications must be submitted in writing by August 7, 2015. (To submit comments, visit www.regulations.gov. Click here to be taken directly to the commenting page.)

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