81 FR 53475 - Applications for New Awards; Training of Interpreters for Individuals Who Are Deaf or Hard of Hearing and Individuals Who Are Deaf-Blind Program; Correction
DEPARTMENT OF EDUCATION Federal Register Volume 81, Issue 156 (August 12, 2016)
Federal Register Volume 81, Issue 156 (August 12, 2016)
| Page Range | 53475-53476 | |
| FR Document | 2016-19269 |
[Federal Register Volume 81, Number 156 (Friday, August 12, 2016)] [Notices] [Pages 53475-53476] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-19269] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF EDUCATION Applications for New Awards; Training of Interpreters for Individuals Who Are Deaf or Hard of Hearing and Individuals Who Are Deaf-Blind Program; Correction Catalog of Federal Domestic Assistance (CFDA) Number: 84.160C. AGENCY: Office of Special Education and Rehabilitative Services, Department of Education. ACTION: Notice; correction. ----------------------------------------------------------------------- SUMMARY: On July 25, 2016, we published in the Federal Register (81 FR 48409) a notice inviting [[Page 53476]] applications (NIA) for new awards for fiscal year (FY) 2016 for the Training of Interpreters for Individuals Who Are Deaf or Hard of Hearing and Individuals Who Are Deaf-blind program. That notice incorrectly stated that match in the amount of 10 percent was required in order for applicants to meet the required cost match. This document corrects the error. FOR FURTHER INFORMATION CONTACT: Kristen Rhinehart-Fernandez, U.S. Department of Education, 400 Maryland Avenue SW., Room 5062, Potomac Center Plaza, Washington, DC 20202-2800. Telephone: (202) 245-6103 or by email: Kristen.Rhinehart@ed.gov. If you use a telecommunications device for the deaf (TDD) or a text telephone (TTY), call the Federal Relay Service, toll free, at 1-800- 877-8339. SUPPLEMENTARY INFORMATION: This document corrects the percentage of the required cost match. All other requirements and conditions stated in the NIA remain the same. Corrections In the Federal Register of July 25, 2016 (81 FR 48409), on page 48409, in the third column, we revise the section ``2. Cost Sharing or Matching'' to read as follows: ``2. Cost Sharing or Matching: The Commissioner may award grants to public or private nonprofit agencies or organizations to pay part of the costs for interpreter training programs (section 302(f)(1)(A) of the Rehabilitation Act of 1973). Therefore, in order to be considered for funding, applicants must identify in the application budget and budget narrative a percentage of match towards the total cost of the project. It is up to the applicant to determine an appropriate percentage for the match contribution. To calculate match, applicants may use the match-calculator available at: https://rsa.ed.gov/match-calculator.cfm.'' Program Authority: 29 U.S.C. 772(f). Accessible Format: Individuals with disabilities can obtain this document and a copy of the application package in an accessible format (e.g., braille, large print, audiotape, or compact disc) on request to the program contact person listed under FOR FURTHER INFORMATION CONTACT. Electronic Access to This Document: The official version of this document is the document published in the Federal Register. Free Internet access to the official edition of the Federal Register and the Code of Federal Regulations is available via the Federal Digital System at: www.thefederalregister.org/fdsys. At this site you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Portable Document Format (PDF). To use PDF you must have Adobe Acrobat Reader, which is available free at the site. You may also access documents of the Department published in the Federal Register by using the article search feature at: www.federalregister.gov. Specifically, through the advanced search feature at this site, you can limit your search to documents published by the Department. Dated: August 9, 2016. Sue Swenson, Acting Assistant Secretary for Special Education and Rehabilitative Services. [FR Doc. 2016-19269 Filed 8-11-16; 8:45 am] BILLING CODE 4000-01-P
![Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices 53475
potentially ending up in bankruptcy. In that there are sufficient funds in the imposed on redemptions for prime money
addition, clearinghouses could not liquidate segregated customer accounts to cover all market funds, that they are no longer
investments in the Reserve Fund. And there obligations due to customers. FCMs considered Rule 1.25 assets. This is the
could have easily been a widespread run on frequently deposit an amount of their own correct interpretation. The key feature in a
money market funds, but for the emergency funds that is in excess of the targeted residual Rule 1.25 asset is that it must be available
actions taken by the U.S. government. interest amount required under our rules, quickly in times of crisis or illiquidity. And
As a result of the crisis, as well as the and that excess amount can be withdrawn at we know that funds are more likely to close
collapse of MF Global, the CFTC and our self- any time. Indeed, if an FCM should default, the gates on redemptions when market
regulatory organizations took a number of customers—and the system as a whole—are dislocation happens. That is just the time
actions to better protect customer funds. We better off if excess funds are on deposit, and when futures commission merchants (FCMs)
required customer funds to be strictly we do not wish to incentivize FCMs to and customers would need access to their
segregated and limited the ways they can be withdraw such excess funds from the money, and a multi-day delay can mean
invested. We enhanced accounting and segregated account. Therefore, the no action catastrophe for some businesses.
auditing procedures at FCMs, including by relief makes clear that FCMs can continue to For that very reason, I have concerns about
requiring daily verification from depositories invest their own funds in excess of their the Division of Swap Dealer and
of the amounts deposited by FCMs. targeted residual interest in such money Intermediary Oversight’s (DSIO) ‘‘No-Action
Today, CFTC rules require that customer market funds, even though they cannot invest Relief With Respect to CFTC Regulation 1.25
funds be invested in highly liquid assets and the customer funds—or any proprietary Regarding Money Market Funds.’’ While the
be convertible into cash within one business funds they are required to deposit—in this 4(c) exemption and the DCR interpretation
day without a material discount in value. Our manner. are clearly customer protection initiatives,
rules also require that clearinghouses invest Finally, the Commission is taking action the DSIO no action letter is not. This no
initial margin deposits in a manner that today that will further ensure the safety of action letter would allow FCMs to keep
allows them to promptly liquidate any such customer funds. We are issuing an order that money in segregated customer accounts that
investment. will help make it possible for systemically actually would not be readily available in a
Over the last few years, the Securities and important clearinghouses to deposit customer crisis. Thus, while it may appear that an FCM
Exchange Commission (SEC) has also taken funds at Federal Reserve Banks. Our order had considerable funds available to settle
action in response to the lessons of the makes clear that a Federal Reserve Bank that customer accounts during a market
financial crisis, by adopting a number of opens such an account would be subject to dislocation, in fact that would be only be an
measures to address the potential the same standards of liability that generally illusion; a portion of those funds could be
vulnerabilities of money market funds. One apply to it as a depository, rather than any locked down behind the prime money market
such recent reform, which takes effect in potentially conflicting standard under the funds’ gates and therefore not actually be
October of this year, sets forth the commodity laws. available when needed.
circumstances where prime money market Although Federal Reserve accounts for I do not think that the staff of the
funds are permitted, or in some customer funds held by systemically Commission should be supporting this kind
circumstances required, to suspend important clearinghouses do not exist today, of ‘‘window dressing’’—giving the
redemptions in order to prevent the risk of they are allowed under the Dodd-Frank Act, impression of greater security than there
investor runs. and we have been working with the Board of actually is. If the funds are not suitable
While we recognize the benefit of the SEC’s Governors to facilitate them. The two investments for customer funds, then they
new rule in preventing investor runs, a clearinghouses designated as systemically are not suitable for the additional capital that
suspension of redemptions by a money important in our markets have been approved the FCMs put in those accounts to protect
market fund would mean investments in to open Federal Reserve Bank accounts for against potential shortfalls. Having lived
such funds are not accessible and cannot be their proprietary funds. We hope that with through bankruptcies, such as MF Global and
promptly liquidated. Such an event could today’s action, accounts for customer funds Peregrine, I have a healthy respect for the
result in customers, FCMs, and can be opened soon. Doing so will help importance of having strong clearing
clearinghouses being unable to access the protect customer funds and enhance the members with a large cushion of funds that
funds necessary to satisfy margin obligations. resiliency of clearinghouses. can be accessed when needed. This no action
Therefore, CFTC staff is today providing I thank the dedicated CFTC staff and my letter undermines that effort. Given the
guidance making clear that Commission rules fellow Commissioners for their work on these importance of this topic to the general public,
prohibit a clearing member from investing matters. we should at least have asked for comments
customer funds, or a clearinghouse from or even held a roundtable before making this
Appendix 3—Concurring Statement of change. I therefore hope to reexamine this
investing amounts deposited as initial
Commissioner Sharon Y. Bowen subject in the near future.
margin, in such money market funds.
Some industry participants have suggested I am pleased to concur with the two [FR Doc. 2016–19210 Filed 8–11–16; 8:45 am]
we should interpret or revise our rules to Commission actions: The ‘‘Order Exempting BILLING CODE 6351–01–P
permit investments of at least some customer the Federal Reserve Banks from Sections 4d
monies in such money market funds unless and 22 of the Commodity Exchange Act’’ and
and until redemptions are suspended. We ‘‘Written Acknowledgment of Customer
have declined to do so, as it would be too late Funds from Federal Reserve Banks.’’ I have DEPARTMENT OF EDUCATION
to protect customers at that point. Moreover, long believed that, in order to protect
there are alternatives to prime funds, customer funds, we need to keep that money Applications for New Awards; Training
including certain government money markets at our central bank. In the event of a major of Interpreters for Individuals Who Are
funds or Treasury securities. In fact, market event, I, and I believe the rest of the Deaf or Hard of Hearing and
investments in prime money market funds American people, would feel much better Individuals Who Are Deaf-Blind
represent a relatively small portion of the knowing that investors’ money is at the Program; Correction
total customer funds on deposit and the total Federal Reserve instead of at multiple central
initial margin deposits at clearinghouses. counterparties. I am glad that our agency and Catalog of Federal Domestic Assistance
Some of our clearinghouses and FCMs do not the Federal Reserve have come to an (CFDA) Number: 84.160C.
have any investments in prime funds. agreement on an effective way to accomplish
mstockstill on DSK3G9T082PROD with NOTICES
AGENCY: Office of Special Education and
Staff has been careful not to be overly this.
restrictive, and therefore has issued no-action I am similarly pleased with the Division of Rehabilitative Services, Department of
relief to allow FCMs to invest certain Clearing and Risk’s (DCR) ‘‘Staff Education.
‘‘excess’’ proprietary funds held in customer Interpretation Regarding CFTC Part 39 In ACTION: Notice; correction.
accounts in these money market funds. That Light Of Revised SEC Rule 2a–7,’’ which
is, our existing rules require FCMs to deposit clearly outlines the staff’s understanding SUMMARY: On July 25, 2016, we
their own funds (i.e., targeted residual that, given the limitations that the Securities published in the Federal Register
interest) into customer accounts to make sure and Exchange Commission (SEC) has (81 FR 48409) a notice inviting
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![53476 Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices
applications (NIA) for new awards for published in the Federal Register, in using spoken, visual, and tactile modes
fiscal year (FY) 2016 for the Training of text or Portable Document Format of communication; ensure the
Interpreters for Individuals Who Are (PDF). To use PDF you must have maintenance of the interpreting skills of
Deaf or Hard of Hearing and Individuals Adobe Acrobat Reader, which is qualified interpreters; and provide
Who Are Deaf-blind program. That available free at the site. opportunities for interpreters to improve
notice incorrectly stated that match in You may also access documents of the their skills in order to meet both the
the amount of 10 percent was required Department published in the Federal highest standards approved by
in order for applicants to meet the Register by using the article search certifying associations and the
required cost match. This document feature at: www.federalregister.gov. communication needs of individuals
corrects the error. Specifically, through the advanced who are deaf or hard of hearing and
FOR FURTHER INFORMATION CONTACT: search feature at this site, you can limit individuals who are deaf-blind.
Kristen Rhinehart-Fernandez, U.S. your search to documents published by Priority: This priority is from the
Department of Education, 400 Maryland the Department. notice of final priority for this program
Avenue SW., Room 5062, Potomac Dated: August 9, 2016. (NFP) published elsewhere in this issue
Center Plaza, Washington, DC 20202– Sue Swenson, of the Federal Register.
2800. Telephone: (202) 245–6103 or by Acting Assistant Secretary for Special Absolute Priority: For FY 2016, this
email: Kristen.Rhinehart@ed.gov. Education and Rehabilitative Services. priority is an absolute priority. Under 34
If you use a telecommunications [FR Doc. 2016–19269 Filed 8–11–16; 8:45 am]
CFR 75.105(c)(3), we consider only
device for the deaf (TDD) or a text applications that meet this priority.
BILLING CODE 4000–01–P
telephone (TTY), call the Federal Relay This priority is:
Service, toll free, at 1–800–877–8339.
Interpreter Training in Specialized
SUPPLEMENTARY INFORMATION: This DEPARTMENT OF EDUCATION Areas
document corrects the percentage of the
required cost match. All other Applications for New Awards; Training Program Authority: 29 U.S.C. 772(f).
requirements and conditions stated in of Interpreters for Individuals Who Are Applicable Regulations: (a) The
the NIA remain the same. Deaf or Hard of Hearing and Education Department General
Individuals Who Are Deaf-Blind Administrative Regulations (EDGAR) in
Corrections Program 34 CFR parts 75, 77, 79, 81, 82, 84, 86,
In the Federal Register of July 25, and 99. (b) The Office of Management
AGENCY: Office of Special Education and and Budget Guidelines to Agencies on
2016 (81 FR 48409), on page 48409, in
Rehabilitative Services, Department of Governmentwide Debarment and
the third column, we revise the section
Education. Suspension (Nonprocurement) in 2 CFR
‘‘2. Cost Sharing or Matching’’ to read as
follows: ‘‘2. Cost Sharing or Matching: ACTION: Notice. part 180, as adopted and amended as
The Commissioner may award grants to regulations of the Department in 2 CFR
public or private nonprofit agencies or Overview Information part 3485. (c) The Uniform
organizations to pay part of the costs for Training of Interpreters for Administrative Requirements, Cost
interpreter training programs (section Individuals Who Are Deaf or Hard of Principles, and Audit Requirements for
302(f)(1)(A) of the Rehabilitation Act of Hearing and Individuals Who Are Deaf- Federal Awards in 2 CFR part 200, as
1973). Therefore, in order to be Blind Program Notice inviting adopted and amended as regulations of
considered for funding, applicants must applications for new awards for fiscal the Department in 2 CFR part 3474. (d)
identify in the application budget and year (FY) 2016. The regulations for this program in 34
budget narrative a percentage of match CFR part 396. (e) The NFP.
Catalog of Federal Domestic Assistance
towards the total cost of the project. It (CFDA) Number: 84.160D. Note: The regulations in 34 CFR part 79
is up to the applicant to determine an apply to all applicants except federally
appropriate percentage for the match DATES recognized American Indian tribes.
contribution. To calculate match, Applications Available: August 12,
applicants may use the match-calculator 2016. Note: The regulations in 34 CFR part 86
Deadline for Transmittal of apply to institutions of higher education
available at: https://rsa.ed.gov/match-
Applications: September 12, 2016. only.
calculator.cfm.’’
Program Authority: 29 U.S.C. 772(f). Full Text of Announcement II. Award Information
Accessible Format: Individuals with
disabilities can obtain this document I. Funding Opportunity Description Type of Award: Discretionary grants.
and a copy of the application package in Purpose of Program: Under the Estimated Available Funds:
an accessible format (e.g., braille, large Rehabilitation Act of 1973 $1,600,000.
print, audiotape, or compact disc) on (Rehabilitation Act), as amended by the Contingent upon availability of funds
request to the program contact person Workforce Innovation and Opportunity and the quality of applications, we may
listed under FOR FURTHER INFORMATION Act, the Rehabilitation Services make additional awards in FY 2017 and
CONTACT. Administration (RSA) makes grants to FY 2018 from the list of unfunded
Electronic Access to This Document: public and private nonprofit agencies applications from this competition.
The official version of this document is and organizations, including Estimated Range of Awards:
the document published in the Federal institutions of higher education (IHE), to $375,000–$400,000.
mstockstill on DSK3G9T082PROD with NOTICES
Register. Free Internet access to the establish interpreter training programs Estimated Average Size of Awards:
official edition of the Federal Register or to provide financial assistance for $385,000.
and the Code of Federal Regulations is ongoing interpreter training programs to Maximum Award Amount: We will
available via the Federal Digital System train a sufficient number of qualified reject any application that proposes a
at: www.gpo.gov/fdsys. At this site you interpreters throughout the country. The budget exceeding $400,000 for a single
can view this document, as well as all grants are designed to train interpreters budget period of 12 months.
other documents of this Department to effectively interpret and transliterate Estimated Number of Awards: 4.
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Document Created: 2018-02-09 11:33:00
Document Modified: 2018-02-09 11:33:00
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice; correction. | |
| Contact | Kristen Rhinehart-Fernandez, U.S. Department of Education, 400 Maryland Avenue SW., Room 5062, Potomac Center Plaza, Washington, DC 20202-2800. Telephone: (202) 245-6103 or by email: [email protected] | |
| FR Citation | 81 FR 53475 |
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