OVERSEAS PRIVATE INVESTMENT CORPORATION

5 CFR Ch. XXXIII

22 CFR Ch. VII

BUILD Act of 2018; Transfer of Regulations

AGENCY: Overseas Private Investment Corporation, U.S. International Development Finance Corporation.

ACTION: Final Rule.

SUMMARY: The Better Utilization of Investments Leading to Development (BUILD) Act of 2018 will create the U.S. International Development Finance Corporation (DFC) by bringing together the Overseas Private Investment Corporation (OPIC) and the Development Credit Authority (DCA) office of the U.S. Agency for International Development (USAID). The reorganization requires a transfer of administrative regulations from OPIC to the new agency.

DATES: Effective October 1, 2019.

FOR FURTHER INFORMATION CONTACT: Dev Jagadesan, Deputy General Counsel, Administration, 202-336-8652,fedreg@opic.gov.

SUPPLEMENTARY INFORMATION: The BUILD Act of 2018 will winddown OPIC and combine the capabilities of OPIC and DCA while providing the U.S. with more flexibility and tools to support investments in developing countries. DFC will be a new, modern agency and requires administrative structure to support its mission. DFC will replace OPIC as the authority for 5 CFR Chapter 33 and 22 CFR Chapter 7 and assume its administrative regulations which cover ethics restrictions, the FOIA, the Privacy Act, the Sunshine Act, the FCPA, nondiscrimination provisions, lobbying restrictions, and Touhy regulations in all parts under those chapters. Neither OPIC nor DFC currently plan on having non-administrative regulations. Other than a change in agency name, contact information, and agency authorizing statute, no changes are proposed to the existing regulations.

List of Subjects in

5 CFR Chapter 33

Conflicts of interests, Employment

22 CFR Chapter 7

Administrative practice and procedure, Archives and records, Conflicts of interests, Confidential business information, Freedom of information, Individuals with disabilities, Privacy, Sunshine Act

For the reasons stated in the preamble the Overseas Private Investment Corporation amends 5 CFR Chapter XXXIII and 22 CFR chapter VII as follows:

Chapter XXXIII - U.S. International Development Finance Corporation

1. revise the chapter heading for chapter XXXIII to read as set forth above.

Part 4301 - SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE U.S. International Development Finance Corporation

2. The authority citation for part 4301 continues to read as follows:

Authority: 5 U.S.C. 7301; 5 U.S.C. App. (Ethics in Government Act of 1978); E.O. 12674, 54 FR 15159, 3 CFR, 1989 Comp., p. 215, as modified by E.O. 12731, 55 FR 42547, 3 CFR, 1990 Comp., p. 306; 5 CFR 2635.105, 2635.803.

3. Revise the part heading for part 4301 to read as set forth above:

4. In part 4301, remove the phrase "Overseas Private Investment Corporation (OPIC)" and add, in its place, the phrase "U.S. International Development Finance Corporation (DFC)".

Chapter VII- U.S. International Development Finance Corporation

5. Revise the chapter heading for chapter VII to read as set forth above.

Part 705 [AMENDED]

6. Revise the authority citation for part 705 to read as follows:

AUTHORITY: 5 U.S.C. 7301; Pub. L. 115-254, sections 1401-70.

Section 705.101 [AMENDED]

7. In section 705.101, remove the phrase "Overseas Private Investment Corporation (OPIC)" and add, in its place, the phrase "U.S. International Development Finance Corporation (DFC)" and all references to "OPIC" to read "DFC".

Part 706 [AMENDED]

8. Revise the authority citation for part 706 to read as follows:

AUTHORITY: 5 U.S.C. 552, Pub. L. 114-185.; Pub. L. 115-254, sections 1401-70.

9. In part 706, revise all references to "Overseas Private Investment Corporation" to read "U.S. International Development Finance Corporation" and all references to "OPIC" to read "DFC".

Section 706.10 [AMENDED]

10. In section 706.10 remove the words "www.opic.gov/foia" and add, in their place, the words "www.usdfc.gov/foia".

Section 706.11 [AMENDED]

11. In section 706.11(a), remove the words "foia@opic.gov" and add, in their place, the words foia@usdfc.gov.

Section 706.34 [AMENDED]

12. In section 706.34(a) remove the words "foia@opic.gov" and add, in their place, the words foia@usdfc.gov.

Part 707 - ACCESS TO AND SAFEGUARDING OF PERSONAL INFORMATION

13. Revise the authority citation for part 707 to read as follows:

AUTHORITY: 5 U.S.C. 552a; Pub. L. 115-254, sections 1401-70.

14. Revise the part heading for part 707 to read as set forth above.

15. In part 707, revise all references to "Overseas Private Investment Corporation" to read "U.S. International Development Finance Corporation" and all references to "OPIC" to read "DFC".

Section 707.21 [AMENDED]

16. Section 707.21 remove the words "privacy@opic.gov" and add, in their place, the words "privacy@usdfc.gov".

Part 708 [AMENDED]

17. Revise the authority citation for part 708 to read as follows:

AUTHORITY: 5 U.S.C. 552b; Pub. L. 115-254, section 1401-70.

Part 709 [REMOVED AND RESERVED]

18. Remove and reserve part 709, consisting of section 709.1 through 709.8.

Part 710 [AMENDED]

19. Revise the authority citation for part 710 to read as follows:

AUTHORITY: 18 U.S.C. 207; Pub. L. 115-254, sections 1401-70.

20. In part 710, revise all references to "Overseas Private Investment Corporation" to read "U.S. International Development Finance Corporation" and all references to "OPIC" to read "DFC".

Part 711 - ENFORCEMENT OF NONDISCRIMINATION ON THE BASIS OF HANDICAP IN PROGRAMS OR ACTIVITIES

21. Revise the authority citation for part 711 to read as follows:

AUTHORITY: 29 U.S.C. 794; Pub. L. 115-254, sections 1401-70.

22. Revise the part heading for part 711 to read as set forth above.

Section 711.170 [AMENDED]

23. Section 711.170(c) remove the words "1615 M Street, NW., Washington, DC 20527, Attention: Director of Personnel" and add, in their place, the words "1100 New York Avenue NW, Washington, DC 20527, Attention: Director of Human Resources Management".

Part 712 [AMENDED]

24. Revise the authority citation for part 712 to read as follows:

AUTHORITY: 31 U.S.C. 1352; Pub. L. 115-254, sections 1401-70.

Part 713 - PRODUCTION OF NONPUBLIC RECORDS AND TESTIMONY OF EMPLOYEES IN LEGAL PROCEEDINGS

25. Revise the authority citation for part 713 to read as follows:

AUTHORITY: 5 U.S.C. 301; 5 U.S.C. 552; 5 U.S.C. 552a; 5 U.S.C. 702; 18 U.S.C. 207; 18 U.S.C. 641; 22 U.S.C. 2199(d); 28 U.S.C. 1821; Pub. L. 115-254, sections 1401-70.

26. Revise the part heading for part 713 to read as set forth above.

27. In part 713, revise all references to "Overseas Private Investment Corporation" to read "U.S. International Development Finance Corporation" and all references to "OPIC" to read "DFC".

Dated: ,.

Dev Jagadesan,

Deputy General Counsel, Department of Legal Affairs

Overseas Private Investment Corporation.