Capital Standards

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Federal Register / Vol. 69, No. 80 / Monday, April 26, 2004 / Rules and Regulations

PART 956—SWEET ONIONS GROWN

IN THE WALLA WALLA VALLEY OF

SOUTHEAST WASHINGTON AND

NORTHEAST OREGON

I 1. The authority citation for 7 CFR part

956 continues to read as follows:

Authority: 7 U.S.C. 601–674.

I 2. Section 956.163 is amended by

adding a new paragraph (b) to read as

follows:

§ 956.163

Handling for specified purposes.

*

*

*

*

*

(b) Market preparation outside the

production area. (1) Persons desiring to

ship or receive Walla Walla sweet

onions for grading, packing, or storing

outside the production area, but within

Oregon and Washington, shall apply to

the Committee on a ‘‘Shippers/Receivers

Application for Certificate of Privilege’’

form. Such application shall contain the

following:

(i) Company name, contact name,

address, contact telephone numbers,

date, and signature of the applicant;

(ii) Whether the applicant is the

shipper or receiver;

(iii) Agreement to provide a Special

Purpose Shipment Report to the

Committee as required after shipping or

receiving Walla Walla sweet onions for

grading, packing, or storing out of the

production area under a Certificate of

Privilege.

(iv) Certification by the applicant that

all provisions of the rules and

regulations of this part will be adhered

to including, but not limited to, any

grade, size, quality, maturity, pack, or

container requirements that may be

currently in effect;

(v) Certification by the applicant, if a

receiver under the Certificate of

Privilege, that they will forward to the

Committee office all assessments due on

Walla Walla sweet onions handled.

(vi) Such other information as the

Committee may require.

(2) Each approved applicant shall

furnish to the Committee a Special

Purpose Shipment Report form no later

than thirty (30) days after the final

shipment of sweet onions are shipped or

received pursuant to the Certificate of

Privilege. That report shall contain the

following information:

due on

Walla Walla sweet onions handled.

(vi) Such other information as the

Committee may require.

(2) Each approved applicant shall

furnish to the Committee a Special

Purpose Shipment Report form no later

than thirty (30) days after the final

shipment of sweet onions are shipped or

received pursuant to the Certificate of

Privilege. That report shall contain the

following information:

(i) Company name, contact name,

address, contact telephone numbers,

signature, and date;

(ii) Names of shippers or receivers

who have either shipped Walla Walla

sweet onions out of the production area

or received the same;

(iii) The total quantity of Walla Walla

sweet onions shipped or received under

this section during the period covered;

(iv) Certification by the receiver that

all assessments due on Walla Walla

sweet onions handled under the

respective Certificate of Privilege are

being forwarded to the Committee; and

(v) Such other information as the

Committee may require.

(3) The Committee may cancel any

Certificate of Privilege if proof

satisfactory to the Committee is

obtained that any Walla Walla sweet

onions shipped or received were done

so contrary to the provisions of this

section. Upon cancellation of such

Certificate of Privilege the shipper or

receiver may appeal to the Committee

for reconsideration.

I 3. Section 956.180 is revised to read as

follows:

§ 956.180

Reports.

(a) Each handler shall furnish to the

Committee, no later than May 31 each

year, a preseason Walla Walla Sweet

Onion Handler Registration Form. Such

form shall include:

(1) Company name, contact name,

mailing and physical addresses, contact

telephone numbers, and signature of

handler;

(2) Season covered by registration;

(3) Brand names or labels to be used;

and

(4) Estimated number of acres of fall

planted and spring planted Walla Walla

Sweet Onions to be packed during the

season.

Walla Sweet

Onion Handler Registration Form. Such

form shall include:

(1) Company name, contact name,

mailing and physical addresses, contact

telephone numbers, and signature of

handler;

(2) Season covered by registration;

(3) Brand names or labels to be used;

and

(4) Estimated number of acres of fall

planted and spring planted Walla Walla

Sweet Onions to be packed during the

season.

(b) Each handler shall furnish to the

Committee a Handler’s Statement of

Walla Walla Sweet Onion Shipments

containing the information paragraphs

(a)(1), (a)(2), and (a)(3) of this section,

except that gift box and roadside stand

sales shall be exempt from paragraph

(a)(2) of this section: Provided, That for

Walla Walla Sweet Onions handled

prior to September 1, such report shall

be furnished to the Committee by

September 1, and that for Walla Walla

Sweet Onions handled during the

period September 1 through May 31 of

each fiscal period, such report shall be

furnished to the Committee no later

than thirty (30) days after the end of the

month in which such onions were

handled:

(1) The number of 50 lb. equivalents

of Walla Walla Sweet Onions shipped

by each handler during each week of the

shipping season and the total for the

season;

(2) The geographical regions as

defined by the Committee to which each

shipment is made;

(3) The name, address, and signature

of each handler; and

(4) The name of each producer and

the number of 50 lb. equivalents of

Walla Walla Sweet Onions that were

handled on behalf of or acquired from

that producer.

Dated: April 21, 2004.

Kenneth C. Clayton,

Acting Administrator, Agricultural Marketing

Service.

[FR Doc. 04–9426 Filed 4–23–04; 8:45 am]

BILLING CODE 3410–02–P

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the

Currency

12 CFR Part 3

[Docket No. 04–10]

RIN 1557–AC76

FEDERAL RESERVE SYSTEM

12 CFR Parts 208 and 225

[Regulations H and Y; Docket No

of or acquired from

that producer.

Dated: April 21, 2004.

Kenneth C. Clayton,

Acting Administrator, Agricultural Marketing

Service.

[FR Doc. 04–9426 Filed 4–23–04; 8:45 am]

BILLING CODE 3410–02–P

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the

Currency

12 CFR Part 3

[Docket No. 04–10]

RIN 1557–AC76

FEDERAL RESERVE SYSTEM

12 CFR Parts 208 and 225

[Regulations H and Y; Docket No. R–1156]

FEDERAL DEPOSIT INSURANCE

CORPORATION

12 CFR Part 325

RIN 3064–AC74

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Part 567

[No. 2004–15]

RIN 1550–AB79

Risk-Based Capital Guidelines; Capital

Adequacy Guidelines; Capital

Maintenance: Interim Capital

Treatment of Consolidated Asset-

Backed Commercial Paper Program

Assets; Extension

AGENCIES: Office of the Comptroller of

the Currency, Treasury; Board of

Governors of the Federal Reserve

System; Federal Deposit Insurance

Corporation; and Office of Thrift

Supervision, Treasury.

ACTION: Interim final rule; extension of

applicability date.

SUMMARY: The Office of the Comptroller

of the Currency (OCC), Board of

Governors of the Federal Reserve

System (Board), Federal Deposit

Insurance Corporation (FDIC), and

Office of Thrift Supervision (OTS)

(collectively, the agencies) are extending

the applicability date in the interim

final rule on the capital treatment of

consolidated asset-backed commercial

paper (ABCP) programs that was issued

on October 1, 2003 (68 FR 56530)

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n (FDIC), and

Office of Thrift Supervision (OTS)

(collectively, the agencies) are extending

the applicability date in the interim

final rule on the capital treatment of

consolidated asset-backed commercial

paper (ABCP) programs that was issued

on October 1, 2003 (68 FR 56530)

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Federal Register / Vol. 69, No. 80 / Monday, April 26, 2004 / Rules and Regulations

1 Under FIN 46, the FASB broadened the criteria

for determining when one entity is deemed to have

a controlling financial interest in another entity

and, therefore, when an entity must consolidate

another entity in its financial statements. An entity

generally does not need to be analyzed under FIN

46 if it is designed to have ‘‘adequate capital’’ as

described in FIN 46 and its shareholders control the

entity with their share votes and are allocated its

profits and losses. If the entity fails these criteria,

it typically is deemed a VIE and each stakeholder

in the entity (a group that can include, but is not

limited to, legal-form equity holders, creditors,

sponsors, guarantors, and servicers) must assess

whether it is the entity’s ‘‘primary beneficiary’’

using the FIN 46 criteria. This analysis considers

whether effective control exists by evaluating the

entity’s risks and rewards. The stakeholder who

holds the majority of the entity’s risks or rewards

is the primary beneficiary and must consolidate the

VIE.

(October 2003 interim final rule). The

October 2003 interim final rule

amended the agencies’ risk-based

capital standards by providing an

interim capital treatment for assets in

ABCP programs that are consolidated

onto the balance sheets of sponsoring

banks, bank holding companies, and

thrifts (collectively, sponsoring banking

organizations) as a result of Financial

Accounting Standards Board

Interpretation No. 46, Consolidation of

Variable Interest Entities (FIN 46)

e agencies’ risk-based

capital standards by providing an

interim capital treatment for assets in

ABCP programs that are consolidated

onto the balance sheets of sponsoring

banks, bank holding companies, and

thrifts (collectively, sponsoring banking

organizations) as a result of Financial

Accounting Standards Board

Interpretation No. 46, Consolidation of

Variable Interest Entities (FIN 46). The

interim capital treatment that is being

extended allows a sponsoring banking

organization to remove the consolidated

ABCP program assets from risk-

weighted assets for the purpose of

calculating its risk-based capital ratios.

The October 2003 interim final rule

indicated that the capital treatment is

applicable only for the regulatory

reporting periods ending September 30

and December 31, 2003, and March 31,

2004. This extension permits affected

institutions to apply the designated

capital treatment through July 1, 2004.

DATES: Effective Date: This interim final

rule is effective April 26, 2004.

FOR FURTHER INFORMATION CONTACT:

OCC: Amrit Sekhon, Risk Expert,

Capital Policy Division, (202) 874–5211;

Laura Goldman, Senior Attorney, or Ron

Shimabukuro, Special Counsel,

Legislative and Regulatory Activities

Division, (202) 874–5090, Office of the

Comptroller of the Currency, 250 E

Street, SW., Washington, DC 20219.

Board: Thomas R. Boemio, Senior

Project Manager, Policy, (202) 452–

2982, David Kerns, Supervisory

Financial Analyst, (202) 452–2428,

Barbara Bouchard, Deputy Associate

Director, (202) 452–3072, Division of

Banking Supervision and Regulation; or

Mark E. Van Der Weide, Senior Counsel,

sion, (202) 874–5090, Office of the

Comptroller of the Currency, 250 E

Street, SW., Washington, DC 20219.

Board: Thomas R. Boemio, Senior

Project Manager, Policy, (202) 452–

2982, David Kerns, Supervisory

Financial Analyst, (202) 452–2428,

Barbara Bouchard, Deputy Associate

Director, (202) 452–3072, Division of

Banking Supervision and Regulation; or

Mark E. Van Der Weide, Senior Counsel,

(202) 452–2263, Legal Division. For the

hearing impaired only,

Telecommunication Device for the Deaf

(TDD), (202) 263–4869.

FDIC: Jason C. Cave, Chief, Policy

Section, Capital Markets Branch, (202)

898–3548, Robert F. Storch, Chief

Accountant, Division of Supervision

and Consumer Protection, (202) 898–

8906; Michael B. Phillips, Counsel,

Supervision and Legislation Branch,

Legal Division, (202) 898–3581, Federal

Deposit Insurance Corporation, 550 17th

Street, NW., Washington, DC 20429.

OTS: Christine A. Smith, Project

Manager, Supervision Policy, (202) 906–

5740; or Karen Osterloh, Special

Counsel (202) 906–6639, Office of Thrift

Supervision, 1700 G Street, NW.,

Washington, DC 20552.

SUPPLEMENTARY INFORMATION: In January

2003, the Financial Accounting

Standards Board (FASB) issued

interpretation No. 46, ‘‘Consolidation of

Variable Interest Entities’’ (FIN 46),

which requires the consolidation of

variable interest entities (VIEs) onto the

balance sheets of companies deemed to

be the primary beneficiaries of those

entities.1 On December 23, 2003, the

FASB published interpretation 46–R

(FIN 46–R), which revised FIN 46 to

clarify some of the provisions of FIN 46

and to exempt certain entities from its

requirements. FIN 46–R (and its

predecessor FIN 46) resulted in the

consolidation of many ABCP programs

onto the balance sheets of sponsoring

banking organizations beginning in the

third quarter of 2003. In contrast, under

pre-FIN 46 accounting standards,

banking organizations normally were

not required to consolidate the assets of

these programs

and to exempt certain entities from its

requirements. FIN 46–R (and its

predecessor FIN 46) resulted in the

consolidation of many ABCP programs

onto the balance sheets of sponsoring

banking organizations beginning in the

third quarter of 2003. In contrast, under

pre-FIN 46 accounting standards,

banking organizations normally were

not required to consolidate the assets of

these programs. Where a banking

organization is required to consolidate

ABCP program assets under FIN 46 it

must include all of the program assets

(mostly receivables and securities) and

liabilities (mainly commercial paper) on

its balance sheets for purposes of the

bank Reports of Condition and Income

(Call Report), the Thrift Financial

Report (TFR), and the bank holding

company financial statements (FR Y–9C

Report).

The agencies believe that the

consolidation of ABCP program assets

onto the balance sheets of a sponsoring

banking organization could result in

risk-based capital requirements that are

excessive in light of the risks faced by

that organization. Accordingly, the

agencies published the October 2003

interim final rule providing temporary

capital relief for sponsoring banking

organizations with assets in ABCP

programs that are consolidated onto the

balance sheets of those organizations as

a result of FIN 46. See 68 FR 56530

(October 1, 2003). The agencies

requested public comment on the

October 2003 interim final rule. The

comment period closed November 17,

2003. The agencies’ October 2003

interim final rule became effective on

October 1, 2003, and the applicability of

the capital treatment guidelines expired

on April 1, 2004 (April 1st sunset date).

In addition, the agencies received

comments on a notice of proposed

rulemaking (68 FR 56568) (proposed

rule) issued concurrently with the

October 2003 interim final rule

riod closed November 17,

2003. The agencies’ October 2003

interim final rule became effective on

October 1, 2003, and the applicability of

the capital treatment guidelines expired

on April 1, 2004 (April 1st sunset date).

In addition, the agencies received

comments on a notice of proposed

rulemaking (68 FR 56568) (proposed

rule) issued concurrently with the

October 2003 interim final rule. That

rulemaking proposed capital charges on

certain ABCP conduit exposures and

indicated that the October 2003 interim

final rule would not be finalized until

the issues addressed in the proposed

rule were resolved. The agencies are

continuing to work on developing a

more risk-sensitive approach to dealing

with exposures to ABCP conduits,

taking into account comments received

on the proposed rule.

Because the agencies have not yet

fully resolved issues addressed in the

proposed rule, especially those related

to banking organization exposures to

ABCP conduits, they are amending the

October 2003 interim final rule to

extend the April 1st sunset date to July

1, 2004. The agencies believe that an

explicit extension of the April 1st sunset

date is necessary in order to eliminate

potential industry confusion and

uncertainty with respect to the

calculation of regulatory capital ratios

pending the issuance of a final rule.

Regulatory Flexibility Act Analysis

Pursuant to section 605(b) of the

Regulatory Flexibility Act, the agencies

have determined that this interim final

rule would not have a significant impact

on a substantial number of small entities

in accordance with the spirit and

purposes of the Regulatory Flexibility

Act (5 U.S.C. 601 et seq.). For purposes

of the Regulatory Flexibility Act, ‘‘small

entities’’ are banking organizations

having assets of $150 million or less.

There are approximately 18 sponsoring

banking organization for purposes of

this interim final rule, and all of them

are well over that asset size threshold

s

in accordance with the spirit and

purposes of the Regulatory Flexibility

Act (5 U.S.C. 601 et seq.). For purposes

of the Regulatory Flexibility Act, ‘‘small

entities’’ are banking organizations

having assets of $150 million or less.

There are approximately 18 sponsoring

banking organization for purposes of

this interim final rule, and all of them

are well over that asset size threshold.

Accordingly, a regulatory flexibility

analysis is not required. In addition, the

interim final rule would reduce

regulatory burden with respect to the

agencies’ risk-based capital standards.

Administrative Procedure Act

The Agencies find that there is good

cause to dispense with prior notice and

public comment on this interim final

rule and with the 30-day delay of

effective date generally prescribed by

the Administrative Procedure Act

(APA). 5 U.S.C 553.

Under section 553(b) of the APA, the

agencies are not required to provide

notice and an opportunity for public

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Federal Register / Vol. 69, No. 80 / Monday, April 26, 2004 / Rules and Regulations

comment on a rule if they find, for good

cause, that notice and comment are

‘‘impracticable, unnecessary or contrary

to the public interest.’’ The agencies

find that notice and public comment are

unnecessary because the agencies have

given the public a prior opportunity to

comment on the substance of the

October 2003 interim final rule, which

is to preserve the pre-existing non-

consolidated risk-based capital

treatment for sponsoring banking

organizations pending the agencies’

determination of the capital charge

appropriate to certain ABCP conduit

exposures. Most commenters favored

this result. This extension of the

effective date merely provides

additional time for the agencies to

complete that process

rim final rule, which

is to preserve the pre-existing non-

consolidated risk-based capital

treatment for sponsoring banking

organizations pending the agencies’

determination of the capital charge

appropriate to certain ABCP conduit

exposures. Most commenters favored

this result. This extension of the

effective date merely provides

additional time for the agencies to

complete that process. Further, the

agencies find that further notice and

public comment are not in the public

interest because a failure to extend the

April 1st sunset date could create

confusion regarding the calculation of

regulatory capital ratios pending the

issuance of a final rule. The agencies

also find that it is impracticable to

provide an additional opportunity for

comment before the April 1, 2004

expiration date established by the

October 2003 interim rule.

Under section 553(d) of the APA, the

agencies must generally provide a 30-

day delayed effective date for final

rules. The agencies may waive the 30-

day delayed effective date requirement

‘‘for good cause found and published

with the rule.’’ Similarly, section 302 of

the Riegle Community Development and

Regulatory Improvement Act of 1994

(CDRI), requires a banking agency to

make a rule effective on the first day of

the calendar quarter that begins on or

after the date on which the regulations

are published in final form, unless the

agency finds good cause for an earlier

effective date. 12 U.S.C. 4802(b)(1). The

agencies find that there is good cause to

waive the two effective date

requirements because a failure to extend

the April 1st sunset date could create

confusion and uncertainty regarding the

calculation of regulatory capital ratios

pending the issuance of a final rule.

Further, the purpose of the APA and

CDRI delayed effective date provisions

is to afford affected persons a reasonable

time to comply with rule changes

od cause to

waive the two effective date

requirements because a failure to extend

the April 1st sunset date could create

confusion and uncertainty regarding the

calculation of regulatory capital ratios

pending the issuance of a final rule.

Further, the purpose of the APA and

CDRI delayed effective date provisions

is to afford affected persons a reasonable

time to comply with rule changes.

Because institutions have complied

with the requirements since October

2003, it is not necessary to delay the

effective date to achieve this purpose.

Paperwork Reduction Act

The agencies have determined that

this interim final rule does not involve

a collection of information pursuant to

the provisions of the Paperwork

Reduction Act of 1995 (44 U.S.C. 3501

et seq.).

Unfunded Mandates Reform Act of

1995

OCC and OTS: Section 202 of the

Unfunded Mandates Reform Act of

1995, Pub. L. 104–4 (Unfunded

Mandates Act) requires that an agency

prepare a budgetary impact statement

before promulgating a rule that includes

a Federal mandate that may result in

expenditure by State, local, and tribal

governments, in the aggregate, or by the

private sector, of $100 million or more

in any one year. If a budgetary impact

statement is required, section 205 of the

Unfunded Mandates Act also requires

an agency to identify and consider a

reasonable number of regulatory

alternatives before promulgating a rule.

This interim final rule is designed to

temporarily offset the effect on risk-

based capital ratios of FIN 46 with

respect to ABCP programs. The OCC

and OTS have determined that this

interim final rule will not result in

expenditures by State, local, or tribal

governments, or by the private sector, of

$100 million or more in any one year.

Accordingly, section 202 of the

Unfunded Mandates Act does not

require the OCC or OTS to prepare a

budgetary impact statement for this

interim final rule

N 46 with

respect to ABCP programs. The OCC

and OTS have determined that this

interim final rule will not result in

expenditures by State, local, or tribal

governments, or by the private sector, of

$100 million or more in any one year.

Accordingly, section 202 of the

Unfunded Mandates Act does not

require the OCC or OTS to prepare a

budgetary impact statement for this

interim final rule.

Executive Order 12866

The Director of the OTS and the

Comptroller of the OCC have

determined that this interim final rule

does not constitute a ‘‘significant

regulatory action’’ for the purposes of

Executive Order 12866.

List of Subjects

12 CFR Part 3

Administrative practice and

procedure, Capital, National banks,

Reporting and recordkeeping

requirements, Risk.

12 CFR Part 208

Accounting, Agriculture, Banks,

banking, Confidential business

information, Crime, Currency, Federal

Reserve System, Mortgages, Reporting

and recordkeeping requirements,

Securities.

12 CFR Part 225

Administrative practice and

procedure, Banks, banking, Federal

Reserve System, Holding companies,

Reporting and recordkeeping

requirements, Securities.

12 CFR Part 325

Administrative practice and

procedure, Bank deposit insurance,

Banks, banking, Capital adequacy,

Reporting and recordkeeping

requirements, Savings associations,

State non-member banks.

12 CFR Part 567

Capital, Reporting and recordkeeping

requirements, Savings associations.

Department of the Treasury

Office of the Comptroller of the

Currency

12 CFR Chapter I

Authority and Issuance

I For the reasons set out in the joint

preamble, part 3 of chapter I of title 12

of the Code of Federal Regulations is

amended as follows:

PART 3—MINIMUM CAPITAL RATIOS;

ISSUANCE OF DIRECTIVES

I 1. The authority citation for part 3

continues to read as follows:

Authority: 12 U.S.C. 93a, 161, 1818,

1828(n), 1828 note, 1831n note, 1835, 3907,

and 3909.

Appendix A to Part 3—[Amended]

I 2. In Appendix A to part 3:

I a

t in the joint

preamble, part 3 of chapter I of title 12

of the Code of Federal Regulations is

amended as follows:

PART 3—MINIMUM CAPITAL RATIOS;

ISSUANCE OF DIRECTIVES

I 1. The authority citation for part 3

continues to read as follows:

Authority: 12 U.S.C. 93a, 161, 1818,

1828(n), 1828 note, 1831n note, 1835, 3907,

and 3909.

Appendix A to Part 3—[Amended]

I 2. In Appendix A to part 3:

I a. In section 2, paragraph (a)(3)(ii),

remove ‘‘April 1’’ and add ‘‘July 1’’ in its

place; and

I b. In section 4, paragraphs (j)(4) and

(k)(2), remove ‘‘April 1’’ and add ‘‘July 1’’

in its place.

Dated: April 9, 2004.

John D. Hawke, Jr.,

Comptroller of the Currency.

Federal Reserve System

12 CFR Chapter II

Authority and Issuance

I For the reasons set forth in the joint

preamble, the Board of Governors of the

Federal Reserve System amends parts

208 and 225 of chapter II of title 12 of

the Code of Federal Regulations as

follows:

PART 208—MEMBERSHIP OF STATE

BANKING INSTITUTIONS IN THE

FEDERAL RESERVE SYSTEM

(REGULATION H)

I 1. The authority citation for part 208

continues to read as follows:

Authority: 12 U.S.C. 24, 36, 92a, 93a,

248(a), 248(c), 321–338a, 371d, 461, 481–486,

601, 611, 1814, 1816, 1818, 1820(d)(9),

1823(j), 1828(o), 1831, 1831o, 1831p–1,

1831r–1, 1831w, 1831x, 1835a, 1882, 2901–

2907, 3105, 3310, 3331–3351, and 3906–

3909; 15 U.S.C. 78b, 78l(b), 78l(g), 78l(i),

78o–4(c)(5), 78q, 78q–1, and 78w; 31 U.S.C.

5318; 42 U.S.C. 4012a, 4104a, 4104b, 4106,

and 4128.

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818, 1820(d)(9),

1823(j), 1828(o), 1831, 1831o, 1831p–1,

1831r–1, 1831w, 1831x, 1835a, 1882, 2901–

2907, 3105, 3310, 3331–3351, and 3906–

3909; 15 U.S.C. 78b, 78l(b), 78l(g), 78l(i),

78o–4(c)(5), 78q, 78q–1, and 78w; 31 U.S.C.

5318; 42 U.S.C. 4012a, 4104a, 4104b, 4106,

and 4128.

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Federal Register / Vol. 69, No. 80 / Monday, April 26, 2004 / Rules and Regulations

Appendix A to Part 208—[Amended]

I 2. In Appendix A to part 208, the

following amendments are made:

I a. In section II.A.1.c., remove ‘‘April 1’’

and add ‘‘July 1’’ in its place; and

I b. In section III.B.6.c., remove ‘‘April

1’’ and add ‘‘July 1’’ in its place.

PART 225—BANK HOLDING

COMPANIES AND CHANGE IN BANK

CONTROL (REGULATION Y)

I 1. The authority citation for part 225

continues to read as follows:

Authority: 12 U.S.C. 1817(j)(13), 1818,

1828(o), 1831i, 1831p–1, 1843(c)(8), 1844(b),

1972(1), 3106, 3108, 3310, 3331–3351, 3907,

and 3909; 15 U.S.C. 6801 and 6805.

Appendix A to Part 225—[Amended]

I 2. In Appendix A to part 225, the

following amendments are made:

I a. In section II.A.1.c., remove ‘‘April 1’’

and add ‘‘July 1’’ in its place; and

I b. In section III.B.6.c., remove ‘‘April

1’’ and add ‘‘July 1’’ in its place.

By order of the Board of Governors of the

Federal Reserve System, April 16, 2004.

Jennifer J. Johnson,

Secretary of the Board.

Federal Deposit Insurance Corporation

12 CFR Chapter III

Authority and Issuance

I For the reasons set forth in the joint

preamble, the Board of Directors of the

Federal Deposit Insurance Corporation

amends part 325 of chapter III of title 12

of the Code of Federal Regulations as

follows:

PART 325—CAPITAL MAINTENANCE

I 1. The authority citation for part 325

continues to read as follows:

Authority: 12 U.S.C. 1815(a), 1815(b),

1816, 1818(a), 1818(b), 1818(c), 1818(t),

1819(Tenth), 1828(c), 1828(d), 1828(i),

1828(n), 1828(o), 1831o, 1835, 3907, 3909,

4808; Pub

eposit Insurance Corporation

amends part 325 of chapter III of title 12

of the Code of Federal Regulations as

follows:

PART 325—CAPITAL MAINTENANCE

I 1. The authority citation for part 325

continues to read as follows:

Authority: 12 U.S.C. 1815(a), 1815(b),

1816, 1818(a), 1818(b), 1818(c), 1818(t),

1819(Tenth), 1828(c), 1828(d), 1828(i),

1828(n), 1828(o), 1831o, 1835, 3907, 3909,

4808; Pub. L. 102–233, 105 Stat. 1761, 1789,

1790 (12 U.S.C. 1831n note); Pub. L. 102–

242, 105 Stat. 2236, 2355, as amended by

Pub. L. 103–325, 108 Stat. 2160, 2233 (12

U.S.C. 1828 note); Pub. L. 102–242, 105 Stat.

2236, 2386, as amended by Pub. L. 102–550,

106 Stat. 3672, 4089 (12 U.S.C. 1828 note).

Appendix A to Part 325—[Amended]

I 2. In Appendix A to part 325, the

following amendments are made:

I a. In section I.A.1.iii.e., remove ‘‘April

1’’ and add ‘‘July 1’’ in its place; and

I b. In section II.B.6.c., remove ‘‘April 1’’

and add ‘‘July 1’’ in its place.

By order of the Board of Directors.

Dated at Washington, DC, this 6th day of

April, 2004.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

Department of the Treasury

Office of Thrift Supervision

12 CFR Chapter V

Authority and Issuance

I For the reasons set out in the preamble,

part 567 of chapter V of title 12 of the

Code of Federal Regulations is amended

as follows:

PART 567—CAPITAL

I 1. The authority citation for part 567

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a, 1828 (note).

567.5

[Amended]

I 2. In § 567.5(a)(1)(iii), remove ‘‘April

1’’ and add ‘‘July 1’’ in its place.

567.6

[Amended]

I 3. In § 567.6, paragraphs (a)(3)(iv) and

67 of chapter V of title 12 of the

Code of Federal Regulations is amended

as follows:

PART 567—CAPITAL

I 1. The authority citation for part 567

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a, 1828 (note).

567.5

[Amended]

I 2. In § 567.5(a)(1)(iii), remove ‘‘April

1’’ and add ‘‘July 1’’ in its place.

567.6

[Amended]

I 3. In § 567.6, paragraphs (a)(3)(iv) and

(a)(4)(ii), remove ‘‘April 1’’ and add ‘‘July

1’’ in its place.

Dated: March 30, 2004.

By the Office of Thrift Supervision.

Richard M. Riccobono,

Acting Director.

[FR Doc. 04–9361 Filed 4–23–04; 8:45 am]

BILLING CODE 4810–33–P; 6210–01–P; 6714–01–P;

6720–01–P

DEPARTMENT OF TRANSPORTATION

14 CFR Part 11

[Docket No. FAA 1999–6622; Amendment

No. 11–50]

General Rulemaking Procedures

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Technical amendment.

SUMMARY: The FAA published a final

rule on August 21, 2000 (65 FR 50850)

that revised and clarified its rulemaking

procedures by putting them into plain

language and by removing redundant

and outdated material. This technical

amendment revises regulations on

‘‘How and to whom do I submit my

petition for rulemaking or petition for

exemption,’’ and directs petitioners for

certain rulemaking or exemptions to

submit the petition to the appropriate

FAA airport field office in whose area

the petitioner proposes to establish or

has established its airport in addition to

sending the petition to the U.S.

Department of Transportation, Docket

Management System.

DATES: Effective April 26, 2004.

FOR FURTHER INFORMATION CONTACT:

Komal K. Jain, Attorney-Advisor,

Regulations Division, AGC–200, Federal

Aviation Administration, 800

Independence Ave. SW., Washington,

DC 20591; telephone: (202) 267–3073

poses to establish or

has established its airport in addition to

sending the petition to the U.S.

Department of Transportation, Docket

Management System.

DATES: Effective April 26, 2004.

FOR FURTHER INFORMATION CONTACT:

Komal K. Jain, Attorney-Advisor,

Regulations Division, AGC–200, Federal

Aviation Administration, 800

Independence Ave. SW., Washington,

DC 20591; telephone: (202) 267–3073.

SUPPLEMENTARY INFORMATION:

Background

The FAA is amending 14 CFR 11.63,

‘‘How and to whom do I submit my

petition for rulemaking or petition for

exemption,’’ and directs petitioners for

rulemaking or exemptions pertaining to

14 CFR part 139 to submit the petition

to the appropriate FAA airport field

office in whose area the petitioner

proposes to establish or has established

its airport in addition to sending a copy

to the U.S. Department of

Transportation, Docket Management

System. Under the December 14, 1999,

Notice of Proposed Rulemaking (64 FR

69856), the FAA proposed to retain the

part 11 rule that any petition filed under

part 139 of this chapter be submitted to

the appropriate FAA airport field office

in whose area the petitioner proposes to

establish or has established its airport.

In its effort to revise and clarify its

rulemaking procedures by putting them

into plain language and by removing

redundant and outdated material, the

FAA published the final rule on August

21, 2000 (65 FR 50850) and required

that all petitions for rulemaking and

exemptions be sent to one central

address. The FAA’s experience since the

last revision to part 11 indicates that

streamlining is not appropriate for part

139 petition processes. The FAA

realizes the nature of these petitions,

with unique concerns and

characteristics, are not appropriate for

the streamlined general rulemaking and

exemption process. Therefore, the FAA

now revises part 11 to re-establish a

specific process for petitions for

rulemaking and exemptions pertaining

to part 139

icates that

streamlining is not appropriate for part

139 petition processes. The FAA

realizes the nature of these petitions,

with unique concerns and

characteristics, are not appropriate for

the streamlined general rulemaking and

exemption process. Therefore, the FAA

now revises part 11 to re-establish a

specific process for petitions for

rulemaking and exemptions pertaining

to part 139.

List of Subjects in 14 CFR Part 11

Administrative practice and

procedure, Reporting and recordkeeping

requirements.

The Amendment

I In consideration of the above, the

Federal Aviation Administration

amends chapter 1 of title 14, Code of

Federal Regulations as follows:

PART 11—GENERAL RULEMAKING

PROCEDURES

I 1. The authority citation for part 11

continues to read as follows:

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