6/25/14 N.Y. St. Reg. DFS-16-14-00002-A
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.govInitial 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.
