DFS-16-14-00002-A Market Value Separate Accounts Funding Guaranteed Benefits; Separate Account Operations and Reserve Requirements  

  • 6/25/14 N.Y. St. Reg. DFS-16-14-00002-A
    NEW YORK STATE REGISTER
    VOLUME XXXVI, ISSUE 25
    June 25, 2014
    RULE MAKING ACTIVITIES
    DEPARTMENT OF FINANCIAL SERVICES
    NOTICE OF ADOPTION
     
    I.D No. DFS-16-14-00002-A
    Filing No. 480
    Filing Date. Jun. 09, 2014
    Effective Date. Jun. 25, 2014
    Market Value Separate Accounts Funding Guaranteed Benefits; Separate Account Operations and Reserve Requirements
    PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
    Action taken:
    Amendment of Part 97 (Regulation 128) of Title 11 NYCRR.
    Statutory authority:
    Financial Services Law, sections 202 and 302; Insurance Law, sections 301, 1403, 1405, 1414, 4217 and 4240
    Subject:
    Market Value Separate Accounts Funding Guaranteed Benefits; Separate Account Operations and Reserve Requirements.
    Purpose:
    To revise the discount rate used to determine guaranteed contract liabilities and the filing due date of actuarial memoranda.
    Text or summary was published
    in the April 23, 2014 issue of the Register, I.D. No. DFS-16-14-00002-P.
    Final rule as compared with last published rule:
    No changes.
    Text of rule and any required statements and analyses may be obtained from:
    Michael Cebula, New York State Department of Financial Services, One Commerce Plaza, Albany, NY 12257, (518) 474-7929, email: michael.cebula@dfs.ny.gov
    Initial Review of Rule
    As a rule that requires a RFA, RAFA or JIS, this rule will be initially reviewed in the calendar year 2017, which is no later than the 3rd year after the year in which this rule is being adopted.
    Assessment of Public Comment
    The agency received no public comment.

Document Information

Effective Date:
6/25/2014
Publish Date:
06/25/2014