[Federal Register Volume 59, Number 53 (Friday, March 18, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-6220]


[[Page Unknown]]

[Federal Register: March 18, 1994]


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FEDERAL RESERVE SYSTEM

12 CFR Part 264b

[Docket No. R-0833]

 

Rules Regarding Foreign Gifts and Decorations

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule

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SUMMARY: Congress has permitted Federal government employees to accept 
from foreign governments gifts of travel or expense for travel taking 
place entirely outside of the United States of more than minimal value. 
The Board's Rules Regarding Foreign Gifts and Decorations provide that 
requests for Board approval of the acceptance of such expenses must be 
submitted to the Vice Chairman of the Board. The rules do not specify 
who should act upon such requests in the absence of the Vice Chairman, 
or in situations where the position of Vice Chairman is vacant. 
Accordingly, this rule will authorize the Board's Administrative 
Governor to act on requests for Board approval of these expenses when 
the Vice Chairman if unavailable.

EFFECTIVE DATE: March 18, 1994.

FOR FURTHER INFORMATION CONTACT: Cary Williams, Senior Attorney (202/
452-3295, Legal Division, Board of Governors of the Federal Reserve 
System. For the hearing impaired only, Telecommunication Device for the 
Deaf (TDD), Dorothea Thompson (202/452-3544), Board of Governors of the 
Federal Reserve System, 20th & C Street, NW., Washington, DC 20551.

SUPPLEMENTARY INFORMATION:  In accordance with the authority provided 
in 5 U.S.C. 7342, the Board's Rules Regarding Foreign Gifts and 
Decorations currently state that requests for Board approval of the 
acceptance of travel or expenses for travel from a foreign government 
of more than minimal value must be submitted to the Vice Chairman. 12 
CFR 264b.3(d) The rules are silent as to who is responsible for acting 
upon such requests in the Vice Chairman's absence. This rule will 
provide that the Board's Administrative Governor is authorized to 
approve these requests when the Vice Chairman is unavailable.

Regulatory Flexibility Act

    This rule relates solely to the internal management, operations and 
personnel of the Board of Governors of the Federal Reserve Board, and 
no notice of proposed rulemaking is required by 5 U.S.C. 553. 
Accordingly, the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) does 
not apply and a regulatory flexibility analysis is not required.

List of Subjects in 12 CFR Part 264b

    Decorations, medals, awards, Foreign relations, Government 
employees, Government Property.

    For the reasons set out in the preamble, 12 CFR part 264b is 
amended as follows:

PART 265b--RULES REGARDING FOREIGN GIFTS AND DECORATIONS

    1. The authority citation for part 264b continues to read as 
follows:

    Authority: 5 U.S.C. 552, 7342 and 12 U.S.C. 248(i).

    2. In Sec. 264b.3 the last sentence in paragraph (d) is amended by 
removing the period at the end of the sentence and adding the phrase 
``, or, if the Vice Chairman is unavailable, to the Board's 
Administrative Governor.'' in its place.

    By order of the Board of Governors of the Federal Reserve 
System, March 11, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-6220 Filed 3-17-94; 8:45 am]
BILLING CODE 6210-01-M