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Open for Comment: Regulatory Capital Rule (Regulation Q): Risk-Based Capital Surcharges for Global Systemically Important Bank Holding Companies; Systemic Risk Report (FR Y-15)

Federal Reserve System — The Board of Governors of the Federal Reserve System (Board) is inviting public comment on a notice of proposed rulemaking to amend the Board's rule that identifies and establishes risk-based capital surcharges for U.S. global systemically important bank holding companies (GSIBs). The proposal would also amend the Systemic Risk Report (FR Y-15), which is the source of inputs to the implementation of the GSIB framework under the capital rule. The proposal would make several changes to better align surcharges with risk. First, it would modify certain coefficients used to calculate GSIB surcharges under method 2 of the GSIB surcharge framework to reflect changes in the financial system and the economy and provide for annual adjustments for real economic growth and inflation going forward. Second, the proposal would modify the measurement and weighting of the weighted short-term wholesale funding systemic indicator. Third, for certain systemic indicators currently measured as of a single date each year, the proposal would require measurement based on average values to reduce the effects of temporary changes to indicator values around measurement dates. Fourth, the proposal would reduce cliff effects and enhance the sensitivity of the surcharge to changes in a GSIB's systemic risk profile. Fifth, to improve risk capture, the proposal would also make improvements to the measurement of some systemic indicators used in the GSIB surcharge framework and the framework for determining prudential standards for large banking organizations. In addition to these changes, the proposal would make several amendments to the FR Y-15 to improve the consistency of data reporting and streamline the reporting process. (79 days remaining)

Open for Comment: Improving Wage Protections for the Temporary and Permanent Employment of Certain Foreign Nationals in the United States

Labor Department — The Department of Labor (DOL or the Department) is issuing this Notice of Proposed Rulemaking (NPRM) to solicit comments and public input regarding its proposal to revise Employment and Training Administration (ETA) regulations governing the prevailing wages for employment opportunities that United States (U.S.) employers seek to fill with alien workers on a permanent or temporary basis through certain EB-2 and EB-3 employment-based immigrant visas via the Permanent Labor Certification (PERM) program or through H-1B, H-1B1, or E-3 nonimmigrant visas. Specifically, DOL is proposing to amend its regulations governing the PERM program and Labor Condition Applications (LCAs) to incorporate changes to the computation of wage levels under the Department's four-tiered prevailing wage structure based on the Occupational Employment and Wage Statistics (OEWS) wage survey administered by the Department's Bureau of Labor Statistics (BLS). These proposed revisions aim to better align prevailing wage levels with the wages paid to U.S. workers who are similarly employed in the occupation and area of intended employment. The Department's proposed revisions also seek to strengthen program integrity by reducing the incentive for employers to use these programs to replace, rather than supplement, U.S. workers by employing lower-paid alien workers. In addition, the revision would enable the Department to more effectively ensure that the employment of immigrant and nonimmigrant workers admitted or otherwise provided one of the covered statuses does not adversely affect the wages and working conditions of U.S. workers. (56 days remaining)