82 FR 8488 - Notice of Availability of Bilateral Agreement Between the European Union and the United States of America on Prudential Measures Regarding Insurance and Reinsurance

DEPARTMENT OF THE TREASURY
UNITED STATES TRADE REPRESENTATIVE

Federal Register Volume 82, Issue 15 (January 25, 2017)

By this Notice, the Federal Insurance Office of the Department of the Treasury (FIO) and the United States Trade Representative (USTR) announce the availability of the final legal text of a Covered Agreement entered into between the United States and the European Union regarding certain prudential measures with respect to insurance and reinsurance.

[Federal Register Volume 82, Number 15 (Wednesday, January 25, 2017)]
[Notices]
[Page 8488]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-01638]


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DEPARTMENT OF THE TREASURY

UNITED STATES TRADE REPRESENTATIVE


Notice of Availability of Bilateral Agreement Between the 
European Union and the United States of America on Prudential Measures 
Regarding Insurance and Reinsurance

AGENCY: Department of the Treasury, Departmental Offices; United States 
Trade Representative, Services and Investment.

ACTION: Notice of Availability; Final Legal Text of Bilateral Agreement 
between the European Union and the United States of America on 
Prudential Measures Regarding Insurance and Reinsurance (Covered 
Agreement).

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SUMMARY: By this Notice, the Federal Insurance Office of the Department 
of the Treasury (FIO) and the United States Trade Representative (USTR) 
announce the availability of the final legal text of a Covered 
Agreement entered into between the United States and the European Union 
regarding certain prudential measures with respect to insurance and 
reinsurance.

ADDRESSES: The Covered Agreement text is available on Treasury's Web 
site at https://www.treasury.gov/initiatives/fio/reports-and-notices/Pages/default.aspx.

FOR FURTHER INFORMATION CONTACT: 
    Treasury: Philip J. Goodman, Senior Insurance Regulatory Policy 
Analyst, Federal Insurance Office, (202) 622-1170; Daniel P. McCarty, 
Policy Advisor, Federal Insurance Office, (202) 622-5892.
    USTR: Sarah C. Ellerman, Director, Services & Investment, (202) 
395-9556.

SUPPLEMENTARY INFORMATION: Pursuant to 31 U.S.C. 313-314, the Federal 
Insurance Office Act of 2010 (FIO Act) authorizes the Secretary of the 
Treasury (Treasury) and the USTR jointly to negotiate a covered 
agreement with one or more foreign governments, authorities, or 
regulatory entities. A covered agreement is a ``written bilateral or 
multilateral agreement regarding prudential measures with respect to 
the business of insurance or reinsurance . . . .''
    The FIO Act provides that a covered agreement may enter into force 
only if Treasury and USTR jointly submit to the Financial Services and 
Ways and Means Committees of the House of Representatives and the 
Banking, Housing, and Urban Affairs and Finance Committees of the 
Senate a copy of the final legal text of the agreement on a day in 
which both Houses of Congress are in session and a period of ninety 
calendar days beginning on the date of submission has expired. On 
January 13, 2017, Treasury and USTR submitted a copy of the final legal 
text of the Covered Agreement to these four committees.
    Text of the Covered Agreement is available in its entirety on 
Treasury's Web site at https://www.treasury.gov/initiatives/fio/reports-and-notices/Pages/default.aspx.

Michael T. McRaith,
Director, Federal Insurance Office, U.S. Department of the Treasury.
Sarah C. Ellerman,
Director, Services & Investment, Office of the United States Trade 
Representative.
[FR Doc. 2017-01638 Filed 1-24-17; 8:45 am]
 BILLING CODE 4810-25-P