The new Basel Capital Adequacy Accord (Basel III) is an agreement among countries' central banks and bank supervisory authorities on the amount of capital banks must hold as a cushion against losses and insolvency. Basel III is of concern to Congress mainly because it could put U.S. financial institutions at a competitive disadvantage in world financial markets. This report follows the basic elements of the Basel III documents on the types of capital requirements and their phase-in schedule, which were approved by the Basel member central bank governors on September 12, 2010. The elements are the new definition of Tier 1 capital, the minimum common equity capital, the capital conservation buffer, countercyclical capital buffer, liquidity coverage ratio, global leverage ratio, and wind-down government capital injections. The report concludes with some implications drawn from its content.

This report provides background and current status information on multilateral regimes established to restrict trade in nuclear, chemical, and biological weapons and missile technologies, and to monitor their civil applications. Congress may consider the efficacy of these regimes in considering the potential renewal of the Export Administration Act, as well as other proliferation-specific legislation in the 111th Congress.

This report discusses the Servicemembers Civil Relief Act (SCRA), the purpose of which is to provide for, strengthen, and expedite the national defense by protecting service members, enabling them to "devote their entire energy to the defense needs of the Nation." This report also discusses related legislation, such as the Veterans' Benefits Act of 2010, which clarifies certain SCRA protections.

This report begins by looking at the current production capacity of the oil refineries operating in the United States, and the sources and changes in crude oil supply. It then examines the changing characteristics of petroleum and petroleum product markets and identifies the effects of these changes on the refining industry. The report concludes with discussion of the policy and regulatory factors that are likely to affect the structure and performance of the industry during the next decade.

A letter report issued by the Government Accountability Office with an abstract that begins "Oil shale deposits in Colorado, Utah, and Wyoming are estimated to contain up to 3 trillion barrels of oil--or an amount equal to the world's proven oil reserves. About 72 percent of this oil shale is located beneath federal lands, making the federal government a key player in its potential development. Extracting this oil is expected to require substantial amounts of water and could impact groundwater and surface water. GAO was asked to report on (1) what is known about the potential impacts of oil shale development on surface water and groundwater, (2) what is known about the amount of water that may be needed for commercial oil shale development, (3) the extent to which water will likely be available for commercial oil shale development and its source, and (4) federal research efforts to address impacts to water resources from commercial oil shale development. GAO examined environmental impacts and water needs studies and talked to Department of Energy (DOE), Department of the Interior (Interior), and industry officials."

A letter report issued by the Government Accountability Office with an abstract that begins "In early 2008, the Food and Drug Administration (FDA) responded to a crisis involving the contamination of heparin, a medication used to prevent and treat blood clots, when the agency received multiple reports of adverse events involving severe allergic reactions. The crisis took place from January 2008 through May 2008, during which time FDA took several actions in its response to the crisis. GAO was asked to review FDA's management of the heparin crisis. This report examines (1) how FDA prevented additional contaminated heparin from reaching U.S. consumers, (2) how FDA coordinated its response to the contaminated heparin crisis, and (3) FDA's monitoring and analysis of adverse events associated with heparin. To conduct this review, GAO reviewed relevant FDA documents, regulations, and guidance; analyzed FDA data; and interviewed FDA officials and other experts involved in the crisis and knowledgeable about drug quality standards."

Supporters of comprehensive immigration reform have urged the President and Congress to pursue reform legislation. While legislative action on comprehensive reform does not appear likely during the remainder of the 111th Congress, there may be an effort to enact a measure, commonly referred to as the "DREAM Act," to enable certain unauthorized alien students to legalize their status. This report discusses the DREAM act and related issues.

This report discusses the current process by which duty suspension bills and other provisions are introduced, reviewed by several government agencies and committee staff, made available for public comment, and finally included in omnibus miscellaneous trade and technical corrections bills (MTBs) legislation reported out by the committees of jurisdiction.

This report discusses nuclear energy issues currently facing Congress, such as federal incentives for new commercial reactors, radioactive waste management policy, research and development priorities, power plant safety and regulation, nuclear weapons proliferation, and security against terrorist attacks.

A letter report issued by the Government Accountability Office with an abstract that begins "The National Archives and Records Administration (NARA) is responsible for preserving access to government documents and other records of historical significance and overseeing records management throughout the federal government. NARA relies on the use of information systems to receive, process, store, and track government records. As such, NARA is tasked with preserving and maintaining access to increasing volumes of electronic records. GAO was asked to determine whether NARA has effectively implemented appropriate information security controls to protect the confidentiality, integrity, and availability of the information and systems that support its mission. To do this, GAO tested security controls over NARA's key networks and systems; reviewed policies, plans, and reports; and interviewed officials at nine sites."

This report discusses the U.S. trade deficit in light of the 2008 global financial crisis, with emphasis on international trade and U.S. trade policy, most recent developments in trade of goods and service, trade forecasts for the future, and how issues such as the U.S. trade deficit and international trade, particularly with China, are commonly perceived.

This report, which will be updated as warranted, describes statutory requirements for allocating congressional nominations to service academies. It also identifies the qualifications that must be met by potential nominees, as established by statute and each academy. Finally, sample documents that could be used by congressional offices at various stages of the nomination selection process are included.

The term Deepwater refers to a collection of more than a dozen Coast Guard acquisition programs for replacing and modernizing the service's aging fleet of deepwater-capable ships and aircraft. Currently, there are plans to increase and enhance the Coast Guard's fleet through the Deepwater acquisition program. This report details the Coast Guard's budget requests and explains how the Coast Guard has improved its organization and management over the past several years.

In order to protect the U.S. industrial base during periods of adversity and war, Congress passed a set of domestic source restrictions which became known as the Berry Amendment. Specialty metal represented one of fourteen items previously covered under the Berry Amendment. Congress took action in the FY2007 National Defense Authorization Act to move the specialty metal provision from the Berry Amendmgent into a separate section of Title 10. This report examines the specialty metal provision, potential oversight issues for Congress, and options that Congress may choose to consider.

A letter report issued by the Government Accountability Office with an abstract that begins "Intellectual property (IP) plays a significant role in the U.S. economy. Enforcing IP laws involves many U.S. agencies, making coordination essential. Under the Prioritizing Resources and Organization for Intellectual Property Act of 2008 (PRO-IP Act), Congress required the U.S. Attorney General, through the Department of Justice (DOJ), to devote additional resources and undertake other specific IP efforts. The PRO-IP Act also created the position of the Intellectual Property Enforcement Coordinator (IPEC) to enhance interagency coordination. The act mandates that GAO provide Congress with a report on the efforts of DOJ and the IPEC. This status report addresses DOJ and Office of the IPEC's efforts to implement the act. The report also compares the 2010 Joint Strategic Plan on Intellectual Property Enforcement to the content called for in the PRO-IP Act. GAO examined relevant documents, interviewed agency staff and officials, and compared agency actions and the 2010 strategic plan with the PRO-IP Act."

Other written product issued by the Government Accountability Office with an abstract that begins "The Rehabilitation Act of 1973 (Rehabilitation Act) requires agencies to take proactive steps to provide equal opportunity to qualified individuals with disabilities, but their rate of employment with the federal government remains low. GAO was asked to identify barriers to the employment of people with disabilities in the federal workforce and leading practices that could be used to overcome these barriers. On July 20, 2010, GAO convened a forum to identify leading practices that federal agencies could implement within the current legislative context. In preparation for the forum, GAO surveyed a wide range of knowledgeable individuals to identify barriers and leading practices. Forum participants were selected from among respondents (or their representatives) to reflect varying expertise and views concerning the employment of individuals with disabilities. The survey results formed the basis for the initial forum agenda, and were refined by participants to focus on actions they deemed most important. Comments in this report do not necessarily represent the views of any individual participant or the organizations that these participants represent or with which they are affiliated, including GAO."

The Department of Veterans Affairs (VA) offers directly, or in conjunction with other federal agencies, several benefits for surviving spouses, children, and dependent parents of deceased veterans to provide them with financial, educational, and emotional support. Among these various programs, Dependency and Indemnity Compensation (DIC) is a monthly tax-free cash payment for eligible surviving spouses, children, and dependent parents. This report outlines the eligibility requirements and benefit levels for DIC, the policy issues associated with DIC, and legislation in the 111th Congress related to DIC.

This report describes the "Don't Ask, Don't Tell" military policy, which holds that the presence in the armed forces of persons who demonstrate a propensity or intent to engage in same-sex acts would create an unacceptable risk to the high standards of morale, good order and discipline, and unit cohesion which are the essence of military capability. Under this policy, but not the law, service members are not to be asked about nor allowed to discuss their "same-sex orientation." This report also describes recent efforts by certain Members of Congress to amending this policy.

In recent years, several Members of Congress have expressed interest in amending "Don't Ask, Don't Tell," (DADT) a legislation that requires those of homosexual orientation in the military to keep quiet about their orientation in order to maintain "morale, good order and discipline, and unit cohesion." At least two bills that would repeal the law and replace it with a policy of nondiscrimination on the basis of sexual orientation - H.R. 1283 and S. 3065 - have been introduced in the 111th Congress. This report provides a legal analysis of the various constitutional challenges that have been brought against DADT; for a policy analysis, see CRS Report R40782, "Don't Ask, Don't Tell": Military Policy and the Law on Same-Sex Behavior, by David F. Burrelli.

The George W. Bush Administration enacted a series of tax cuts through the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. This report examines these tax cuts within the context of the current and long-term economic environment.

The recent online publication of classified defense documents by the organization WikiLeaks and subsequent reporting by the New York Times and other news media have focused attention on whether such publication violates U.S. criminal law. The Justice Department and Department of Defense are investigating the circumstances to determine whether any prosecutions will be undertaken in connection with the disclosure. This report identifies some criminal statutes that may apply and also discusses the statutory prohibitions that may be implicated, such as the Espionage Act.

This report discusses whether the current food safety system has the resources, authority, and structural organization to safeguard the health of American consumers, who spend more than $1 trillion on food each year. Also at issue is whether federal food safety laws, first enacted in the early 1900s, have kept pace with the significant changes that have occurred in the food production, processing, and marketing sectors since then.

This report discusses the growing interest in the potential for ethanol to displace petroleum as a transportation fuel, as well as related issues, including current Clean Air Act (CAA) limitation on ethanol content in gasoline; the requests of ethanol producers for an increase of this limitation; and the effects the limitation has upon vehicle and engine warranties and the infrastructures of the automobile and fuel industries.

This report provides an overview of the payment and other protections for subcontractors on certain federal prime contracts under the Miller Act, the 1988 amendments to the Prompt Payment Act, and the Small Business Act. Congress enacted these statutes to give subcontractors rights and remedies they would not otherwise have because of legal doctrines relating to sovereign immunity, privity of contract, and freedom to contract. The report also discusses legislation introduced in the 111th Congress that would provide additional protections for subcontractors.