A Federal Reserve proposal for “Too Big to Fail” banks led a busy week in regulation. Total costs were $1.8 billion, compared to $1.5 billion in annual costs, and no monetized benefits; paperwork accelerated by 415,000 hours. The per capita regulatory burden for 2015 is $593.

Regulatory Toplines

• New Proposed Rules: 42
• New Final Rules: 61
• 2015 Total Pages of Regulation: 75,920
• 2015 Proposed Rules: $92.5 Billion
• 2015 Final Rules: $98.05 Billion

The American Action Forum (AAF) has catalogued regulations according to their codification in the Code of Federal Regulations (CFR). The CFR is organized into 50 titles, with each title corresponding to an industry or part of government. This snapshot will help to determine which sectors of the economy receive the highest number of regulatory actions.

EPA finalized its “Petroleum Refinery Sector Risk and Technology Review” rule. The measure imposes $283 million in total costs and slightly more than 100,000 paperwork burden hours. The regulation would also result in a reduction of 5,200 tons of hazardous air pollutants annually, which could reduce the risk of cancer and other chronic health conditions.

Affordable Care Act

Health and Human Services (HHS) proposed its annual “Notice of Benefit and Payment Parameters” for 2017. The measure adds $23 million in annual costs and imposes more than 160,000 paperwork hours. The proposed rule governs risk adjustment, reinsurance, and risk corridors in Federally-facilitated Exchanges.

Since passage, based on total lifetime costs of the regulations, the Affordable Care Act has imposed costs of $49.9 billion in state and private-sector burdens and 175.1 million annual paperwork hours.

Dodd-Frank

The Federal Reserve imposed new requirements for “Systematically Important U.S. Bank Holding Companies,” otherwise known as “Too Big to Fail” banks. The proposal aims to promote financial stability by requiring covered institutions to hold a minimum amount of unsecured debt and other buffers. The cost for this buffer ranges from $680 million to $1.5 billion, along with a whopping 23 additional paperwork hours.

Click here to view the total estimated revised costs from Dodd-Frank; since passage, the legislation has produced more than 75.6 million paperwork burden hours and imposed $35.8 billion in direct compliance costs.

Total Burdens

Since January 1, the federal government has published $190.6 billion in compliance costs ($98.05 billion in final rules) and has imposed 111.3 million in net paperwork burden hours (59.5 million from final rules). Click below for the latest Reg Rodeo findings.