Office Of Foreign Assets Control Amendment to Iranian Transactions Regulations

53569

Federal Register / Vol. 71, No. 176 / Tuesday, September 12, 2006 / Rules and Regulations

Shelton, WA, Sanderson Field, NDB OR

GPS–A, Amdt 2, CANCELLED

[FR Doc. E6–14731 Filed 9–11–06; 8:45 am]

BILLING CODE 4910–13–P

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

21 CFR Part 880

General Hospital and Personal Use

Devices

CFR Correction

In Title 21 of the Code of Federal

Regulations, parts 800 to 1299, revised

as of April 1, 2006, on page 410, in

§ 880.5950, paragraph (b) is corrected to

read as follows:

§ 880.5950

Umbilical occlusion device.

*

*

*

*

*

(b) Classification. Class I (general

controls). The device is exempt from the

premarket notification procedures in

subpart E of part 807 of this chapter,

subject to the limitations in § 880.9.

[FR Doc. 06–55527 Filed 9–11–06; 8:45 am]

BILLING CODE 1505–01–D

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 560

Iranian Transactions Regulations

AGENCY: Office of Foreign Assets

Control, Treasury.

ACTION: Final rule; amendment.

SUMMARY: The Office of Foreign Assets

Control of the U.S. Department of the

Treasury (‘‘OFAC’’) is amending the

Iranian Transactions Regulations, 31

CFR part 560, to revoke the

authorizations contained in § 560.516

with respect to Bank Saderat and to

except Bank Saderat from the scope of

§ 560.405 and § 560.532(b). These

amendments effectively prohibit all

transactions directly or indirectly

involving Bank Saderat. In addition,

OFAC is making a technical amendment

to paragraph (a)(1) of § 560.516.

DATES: Effective Date: September 8,

2006.

FOR FURTHER INFORMATION CONTACT:

Assistant Director of Compliance

Outreach & Implementation, tel.: 202/

622–2490, Assistant Director of

Licensing, tel.: 202/622–2480, Assistant

Director of Policy, tel.: 202/622–4855, or

Chief Counsel, tel.: 202/622–2410,

Office of Foreign Assets Control,

Department of the Treasury,

Washington, DC 20220 (not toll free

numbers)

e Date: September 8,

2006.

FOR FURTHER INFORMATION CONTACT:

Assistant Director of Compliance

Outreach & Implementation, tel.: 202/

622–2490, Assistant Director of

Licensing, tel.: 202/622–2480, Assistant

Director of Policy, tel.: 202/622–4855, or

Chief Counsel, tel.: 202/622–2410,

Office of Foreign Assets Control,

Department of the Treasury,

Washington, DC 20220 (not toll free

numbers).

SUPPLEMENTARY INFORMATION:

Electronic and Facsimile Availability

This document and additional

information concerning the Office of

Foreign Assets Control (‘‘OFAC’’) are

available from OFAC’s Web site (http:

//www.treas.gov/ofac) or via facsimile

through a 24-hour fax-on demand

service, tel.: (202) 622–0077.

Background

The Iranian Transactions Regulations,

31 CFR part 560 (the ‘‘ITR’’), implement

a series of Executive orders, beginning

with Executive Order 12957, issued on

March 15, 1995, under the authority of

the International Emergency Economic

Powers Act (50 U.S.C. 1701–1706)

(‘‘IEEPA’’). In that order, the President

declared a national emergency with

respect to the actions and policies of the

Government of Iran, including its

support for international terrorism, its

efforts to undermine the Middle East

peace process, and its efforts to acquire

weapons of mass destruction and the

means to deliver them. To deal with that

threat, Executive Order 12957 imposed

prohibitions on certain transactions

with respect to the development of

Iranian petroleum resources. On May 6,

1995, the President issued Executive

Order 12959 imposing comprehensive

trade sanctions to further respond to

this threat, and on August 19, 1997, the

President issued Executive Order 13059

consolidating and clarifying the

previous orders.

The Office of Foreign Assets Control

(‘‘OFAC’’) is amending the ITR to cut off

Bank Saderat, one of the largest Iranian

government-owned banks, from the U.S.

financial system

d Executive

Order 12959 imposing comprehensive

trade sanctions to further respond to

this threat, and on August 19, 1997, the

President issued Executive Order 13059

consolidating and clarifying the

previous orders.

The Office of Foreign Assets Control

(‘‘OFAC’’) is amending the ITR to cut off

Bank Saderat, one of the largest Iranian

government-owned banks, from the U.S.

financial system. Bank Saderat has been

a significant facilitator of Hizballah’s

financial activities and has served as a

conduit between the Government of Iran

and Hizballah, Hamas, the Popular

Front for the Liberation of Palestine-

General Command, and Palestinian

Islamic Jihad.

To cut off Bank Saderat from the U.S.

financial system, OFAC is making three

amendments to the ITR that effectively

prohibit all transactions directly or

indirectly involving Bank Saderat.

OFAC is amending § 560.516, a general

license authorizing payment and U.S.

dollar clearing transactions involving

Iran, to revoke its applicability to Bank

Saderat. OFAC is also amending

§ 560.405, an interpretive section, and

§ 560.532(b), a statement of licensing

policy, to exclude Bank Saderat from

the scope of these provisions.

Section 560.516(a) authorizes U.S.

depository institutions to process

transfers of funds to or from Iran, or for

the direct or indirect benefit of persons

in Iran or the Government of Iran, if the

transfer is covered in full by any of the

following conditions and does not

involve debiting or crediting an Iranian

account: (1) The transfer is by order of

a non-Iranian foreign bank from its own

account in a domestic bank to an

account held by a domestic bank for a

second non-Iranian foreign bank; (2) the

transfer arises from an underlying

transaction that has been authorized by

a specific or general license issued

pursuant to the ITR; (3) the transfer

arises from an underlying transaction

that is not prohibited by the ITR; or (4)

the transfer arises from an underlying

transaction that is exempted from

regula

account held by a domestic bank for a

second non-Iranian foreign bank; (2) the

transfer arises from an underlying

transaction that has been authorized by

a specific or general license issued

pursuant to the ITR; (3) the transfer

arises from an underlying transaction

that is not prohibited by the ITR; or (4)

the transfer arises from an underlying

transaction that is exempted from

regulation pursuant to § 203(b) of

IEEPA. Section 560.516(b) authorizes

U.S. registered brokers or dealers in

securities to process transfers of funds

to or from Iran, or for the direct or

indirect benefit of persons in Iran or the

Government of Iran, if the transfer is

covered in full by any of the conditions

set forth in (2)–(4) above and does not

involve debiting or crediting an Iranian

account. The term Iranian account is

defined in § 560.320 to mean an account

of a person located in Iran or of the

Government of Iran maintained on the

books of either a U.S. depository

institution or a U.S. registered broker or

dealer in securities.

OFAC is adding a new paragraph (f)

to § 560.516 to revoke the applicability

to Bank Saderat of the general licenses

in paragraphs (a) and (b) of § 560.516.

Effective September 8, 2006,

transactions directly or indirectly

involving Bank Saderat are excluded

from the scope of these authorizations.

OFAC is also including an exception in

this amendment to provide 90 days to

wind down or complete performance of

transactions involving Bank Saderat that

are described in paragraphs (a)(2)

through (4) or (b) of § 560.516 and that

were entered into before September 8,

2006, except for specific licenses issued

pursuant to § 560.532(b) that were being

used before September 8, 2006 to obtain

letters of credit issued by Bank Saderat,

for which OFAC is providing a 180-day

wind-down period

performance of

transactions involving Bank Saderat that

are described in paragraphs (a)(2)

through (4) or (b) of § 560.516 and that

were entered into before September 8,

2006, except for specific licenses issued

pursuant to § 560.532(b) that were being

used before September 8, 2006 to obtain

letters of credit issued by Bank Saderat,

for which OFAC is providing a 180-day

wind-down period.

Section 560.405 is an interpretive

section providing that transactions

ordinarily incident to licensed

transactions and necessary to give them

effect are also authorized, with certain

exceptions. OFAC is adding a new

exception to § 560.405 for transactions

directly or indirectly involving Bank

Saderat. Effective September 8, 2006,

such transactions will not be authorized

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53570

Federal Register / Vol. 71, No. 176 / Tuesday, September 12, 2006 / Rules and Regulations

as transactions ordinarily incident to a

licensed transaction. As with § 560.516,

OFAC is providing 90 days to wind

down or complete performance of all

transactions involving Bank Saderat that

were entered into before September 8,

2006, except for specific licenses issued

pursuant to § 560.532(b) that were being

used before September 8, 2006 to obtain

letters of credit issued by Bank Saderat,

for which OFAC is providing a 180-day

wind-down period.

Section 560.532 of the ITR deals with

payment for and financing of

commercial sales and exportation or

reexportation of agricultural

commodities and products, medicine,

and medical devices that are licensed

pursuant to § 560.530. Section

560.532(a) sets forth a general license

authorizing certain payment terms.

Section 560.532(b) provides that

specific licenses may be issued on a

case-by-case basis for payment terms

and trade financing not authorized by

the general license in paragraph (a)

eexportation of agricultural

commodities and products, medicine,

and medical devices that are licensed

pursuant to § 560.530. Section

560.532(a) sets forth a general license

authorizing certain payment terms.

Section 560.532(b) provides that

specific licenses may be issued on a

case-by-case basis for payment terms

and trade financing not authorized by

the general license in paragraph (a).

Pursuant to § 560.532(b), OFAC has

issued specific licenses authorizing the

use of letters of credit issued by Iranian

banks to pay for authorized agricultural

and medical sales. OFAC is adding a

new sentence to § 560.532(b) providing

that, effective September 8, 2006,

specific licenses that have been or will

be issued pursuant to this paragraph

will not authorize any transactions

involving Bank Saderat. However, with

respect to specific licenses that were

being used as of September 8, 2006 to

obtain letters of credit issued by Bank

Saderat, OFAC is further amending

§ 560.532(b) to provide a 180-day wind-

down period to complete performance

on any letters of credit issued by Bank

Saderat or to obtain a letter of credit

from a different issuing bank.

In addition to the amendments

relating to Bank Saderat, OFAC is also

making a technical amendment to

§ 560.516. Paragraph (a)(1) of § 560.516

authorizes U.S. depository institutions

to process transfers of funds to or from

Iran, or for the direct or indirect benefit

of persons in Iran or the Government of

Iran, if the transfer is by order of a non-

Iranian foreign bank from its own

account in a domestic bank to an

account held by a domestic bank for a

second non-Iranian foreign bank. OFAC

is amending this paragraph by deleting

the word ‘‘second’’ to clarify that U.S.

depository institutions are authorized to

make transfers between accounts held

by different branches of the same non-

Iranian foreign bank

ansfer is by order of a non-

Iranian foreign bank from its own

account in a domestic bank to an

account held by a domestic bank for a

second non-Iranian foreign bank. OFAC

is amending this paragraph by deleting

the word ‘‘second’’ to clarify that U.S.

depository institutions are authorized to

make transfers between accounts held

by different branches of the same non-

Iranian foreign bank.

Public Participation

Because the amendments of the ITR

involve a foreign affairs function, the

provisions of Executive Order 12866

and the Administrative Procedure Act (5

U.S.C. 553) requiring notice of proposed

rulemaking, opportunity for public

participation, and delay in effective date

are inapplicable. Because no notice of

proposed rulemaking is required for this

rule, the Regulatory Flexibility Act (5

U.S.C. 601–612) does not apply.

Paperwork Reduction Act

The collections of information related

to the ITR are contained in 31 CFR part

501 (the ‘‘Reporting, Procedures and

Penalties Regulations’’). Pursuant to the

Paperwork Reduction Act of 1995 (44

U.S.C. 3507), those collections of

information have been approved by the

Office of Management and Budget under

control number 1505–0164. An agency

may not conduct or sponsor, and a

person is not required to respond to, a

collection of information unless the

collection of information displays a

valid control number.

List of Subjects in 31 CFR Part 560

Administrative practice and

procedure, Banks, Banking, Brokers,

Foreign Trade, Investments, Loans,

Securities, Iran.

I For the reasons set forth in the

preamble, the Office of Foreign Assets

Control amends 31 CFR part 560 as

follows:

PART 560—IRANIAN TRANSACTIONS

REGULATIONS

I 1. The authority citation of part 560

continues to read as follows:

Authority: 3 U.S.C. 301; 18 U.S.C. 2339B,

2332d; 22 U.S.C. 2349aa–9; 31 U.S.C. 321(b);

50 U.S.C. 1601–1651, 1701–1706; Pub. L.

101–410, 104 Stat. 890 (28 U.S.C. 2461 note);

Pub. L. 106–387, 114 Stat. 1549; E.O

Office of Foreign Assets

Control amends 31 CFR part 560 as

follows:

PART 560—IRANIAN TRANSACTIONS

REGULATIONS

I 1. The authority citation of part 560

continues to read as follows:

Authority: 3 U.S.C. 301; 18 U.S.C. 2339B,

2332d; 22 U.S.C. 2349aa–9; 31 U.S.C. 321(b);

50 U.S.C. 1601–1651, 1701–1706; Pub. L.

101–410, 104 Stat. 890 (28 U.S.C. 2461 note);

Pub. L. 106–387, 114 Stat. 1549; E.O. 12613,

52 FR 41940, 3 CFR, 1987 Comp., p. 256; E.O.

12957, 60 FR 14615, 3 CFR, 1995 Comp., p.

332; E.O. 12959, 60 FR 24757, 3 CFR, 1995,

Comp., 356; E.O. 13059, 62 FR 44531, 3 CFR,

1997 Comp., p. 217.

Subpart D—Interpretations

I 2. In § 560.405, republish the

introductory text, redesignate

paragraphs (a) through (e) as paragraphs

(b) through (f), respectively, and add a

new paragraph (a) to read as follows:

§ 560.405

Transactions incidental to a

licensed transaction authorized.

Any transaction ordinarily incident to

a licensed transaction and necessary to

give effect thereto is also authorized,

except:

(a) Effective September 8, 2006,

transactions directly or indirectly

involving Bank Saderat, except that

transactions involving Bank Saderat that

were entered into before September 8,

2006 may be performed according to

their terms until December 7, 2006.

Note to paragraph (a): But see § 560.532(b),

which provides a 180-day wind-down period

for specific licenses that were being used

before September 8, 2006 to obtain letters of

credit issued by Bank Saderat.

*

*

*

*

*

Subpart E—Licenses, Authorizations,

and Statements of Licensing Policy

I 3. In § 560.516, revise paragraph (a)(1)

and add a new paragraph (f) to read as

follows:

§ 560.516

Payment and United States

dollar clearing transactions involving Iran.

down period

for specific licenses that were being used

before September 8, 2006 to obtain letters of

credit issued by Bank Saderat.

*

*

*

*

*

Subpart E—Licenses, Authorizations,

and Statements of Licensing Policy

I 3. In § 560.516, revise paragraph (a)(1)

and add a new paragraph (f) to read as

follows:

§ 560.516

Payment and United States

dollar clearing transactions involving Iran.

(a) * * *

(1) The transfer is by order of a foreign

bank which is not an Iranian entity from

its own account in a domestic bank

(directly or through a foreign branch or

subsidiary of a domestic bank) to an

account held by a domestic bank

(directly or through a foreign branch or

subsidiary of a domestic bank) for a

foreign bank which is not an Iranian

entity. For purposes of this section,

‘‘foreign bank’’ includes a foreign

subsidiary, but not a foreign branch of

a domestic bank;

*

*

*

*

*

(f) Effective September 8, 2006, this

section does not authorize transactions

directly or indirectly involving Bank

Saderat, except that transactions

described in paragraphs (a)(2) through

(a)(4) or (b) of this section involving

Bank Saderat that were entered into

before September 8, 2006 may be

performed according to their terms until

December 7, 2006.

Note to paragraph (f): But see § 560.532(b),

which provides a 180-day wind-down period

for specific licenses that were being used

before September 8, 2006 to obtain letters of

credit issued by Bank Saderat.

I 4. In § 560.532, revise paragraph (b) to

read as follows:

§ 560.532

Payment for and financing of

exports and reexports of commercial

commodities, medicine, and medical

devices.

*

*

*

*

*

agraph (f): But see § 560.532(b),

which provides a 180-day wind-down period

for specific licenses that were being used

before September 8, 2006 to obtain letters of

credit issued by Bank Saderat.

I 4. In § 560.532, revise paragraph (b) to

read as follows:

§ 560.532

Payment for and financing of

exports and reexports of commercial

commodities, medicine, and medical

devices.

*

*

*

*

*

(b) Specific licenses for alternate

payment terms. Specific licenses may be

issued on a case-by-case basis for

payment terms and trade financing not

authorized by the general license in

paragraph (a) of this section for sales

pursuant to § 560.530. Effective

September 8, 2006, specific licenses that

have been or will be issued pursuant to

this paragraph will not authorize any

payment terms or trade financing

involving Bank Saderat, except that, in

the case of specific licenses that were

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53571

Federal Register / Vol. 71, No. 176 / Tuesday, September 12, 2006 / Rules and Regulations

being used before September 8, 2006 to

obtain letters of credit issued by Bank

Saderat, such letters of credit may

continue to be performed according to

their terms until March 7, 2007. See

§ 501.801(b) of this chapter for specific

licensing procedures.

*

*

*

*

*

Dated: September 7, 2006.

Adam J. Szubin,

Director, Office of Foreign Assets Control.

[FR Doc. 06–7620 Filed 9–8–06; 3:20 pm]

BILLING CODE 4811–37–P

GENERAL SERVICES

ADMINISTRATION

41 CFR Part 102–36

[FMR Amendment 2006–06; FMR Case

2006–102–4

RIN 3090–AI27

Federal Management Regulation;

Disposition of Excess Personal

Property

AGENCY: Office of Governmentwide

Policy, General Services Administration

(GSA).

ACTION: Final rule

Director, Office of Foreign Assets Control.

[FR Doc. 06–7620 Filed 9–8–06; 3:20 pm]

BILLING CODE 4811–37–P

GENERAL SERVICES

ADMINISTRATION

41 CFR Part 102–36

[FMR Amendment 2006–06; FMR Case

2006–102–4

RIN 3090–AI27

Federal Management Regulation;

Disposition of Excess Personal

Property

AGENCY: Office of Governmentwide

Policy, General Services Administration

(GSA).

ACTION: Final rule.

SUMMARY: The General Services

Administration is amending the Federal

Management Regulation (FMR) by

correcting references to outdated or

superceded provisions of law or

regulation; correcting text to be in

conformance with revised laws,

regulation, or Federal agency

responsibilities; and clarifying text

where the intended meaning could be

updated or made clearer.

DATES: Effective Date: October 12, 2006.

FOR FURTHER INFORMATION CONTACT: The

Regulatory Secretariat, Room 4035, GS

Building, Washington, DC 20405, (202)

501–4755, for information pertaining to

status or publication schedules. For

clarification of content, contact Mr.

Robert Holcombe, Office of

Governmentwide Policy, Office of

Travel, Transportation, and Asset

Management (MT), at (202) 501–3828, or

e-mail at Robert.Holcombe@gsa.gov.

Please cite Amendment 2006–06, FMR

case 2006–102–4.

SUPPLEMENTARY INFORMATION:

A. Background

GSA is in the process of revising the

Federal Property Management

Regulations (FPMR) and transferring

most of the content into a new,

streamlined Federal Management

Regulation (FMR). Consequently, FMR

part 102–36 (41 CFR part 102–36)

contains references to FPMR sections

that no longer exist. Also, Public Law

107–217 revised and restated certain

provisions of the Federal Property and

Administrative Services Act of 1949

(Property Act). For example, the

Property Act provisions found at 40

U.S.C. 471–514 will now generally be

found at 40 U.S.C. 101–705. This final

rule updates the title 40 U.S.C. citations

to reflect the changes made by Public

Law 107–217

that no longer exist. Also, Public Law

107–217 revised and restated certain

provisions of the Federal Property and

Administrative Services Act of 1949

(Property Act). For example, the

Property Act provisions found at 40

U.S.C. 471–514 will now generally be

found at 40 U.S.C. 101–705. This final

rule updates the title 40 U.S.C. citations

to reflect the changes made by Public

Law 107–217. Finally, updating or

clarifying revisions were made where

the revisions are seen as administrative

or clerical in nature. This includes a

revised definition of ‘‘Foreign excess

personal property.’’

B. Executive Order 12866

The General Services Administration

(GSA) has determined that this final

rule is not a significant regulatory action

for the purposes of Executive Order

12866.

C. Regulatory Flexibility Act

This final rule is not required to be

published in the Federal Register for

comment. Therefore, the Regulatory

Flexibility Act does not apply.

D. Paperwork Reduction Act

The Paperwork Reduction Act does

not apply because the changes to the

FMR do not impose information

collection requirements that require the

approval of the Office of Management

and Budget under 44 U.S.C. 3501, et

seq.

E. Small Business Regulatory

Enforcement Fairness Act

This final rule is exempt from

Congressional review under 5 U.S.C.

801 since it relates solely to agency

management and personnel.

List of Subjects in 41 CFR Part 102–36

Government property management,

Surplus government property.

Dated: April 14, 2006.

David L. Bibb,

Acting Administrator of General Services.

I For the reasons set forth in the

preamble, GSA amends 41 CFR part

102–36 as set forth below:

PART 102–36—DISPOSITION OF

EXCESS PERSONAL PROPERTY

I 1. The authority citation for 41 CFR

part 102–36 is revised to read as

follows:

Authority: 40 U.S.C. 121(c).

I 2

rty management,

Surplus government property.

Dated: April 14, 2006.

David L. Bibb,

Acting Administrator of General Services.

I For the reasons set forth in the

preamble, GSA amends 41 CFR part

102–36 as set forth below:

PART 102–36—DISPOSITION OF

EXCESS PERSONAL PROPERTY

I 1. The authority citation for 41 CFR

part 102–36 is revised to read as

follows:

Authority: 40 U.S.C. 121(c).

I 2. Revise § 102–36.5 to read as

follows:

§ 102–36.5

What is the governing authority

for this part?

Section 121(c) of title 40, United

States Code, authorizes the

Administrator of General Services to

prescribe regulations as he deems

necessary to carry out his functions

under subtitle I of title 40. Section 521

of title 40 authorizes the General

Services Administration (GSA) to

prescribe policies to promote the

maximum use of excess Government

personal property by executive agencies.

§ 102–36.10

[Amended]

I 3. Amend § 102–36.10 by removing

‘‘the Commonwealth of Puerto Rico, and

the Commonwealth of’’ and adding

‘‘Puerto Rico, the Federated States of

Micronesia, the Marshall Islands, Palau,

and’’ in its place.

§ 102–36.35

[Amended]

I 4. Amend § 102–36.35 by removing

from paragraph (b) ‘‘The Property Act’’

and adding ‘‘Title 40 of the United

States Code’’ in its place; and by

removing from paragraph (c) ‘‘part 101–

45 of this title’’ and adding ‘‘part 102–

38 of this chapter’’ in its place.

I 5. Amend § 102–36.40 by—

I a. Removing from the definition

‘‘Exchange/sale property,’’ ‘‘means’’ and

adding ‘‘is’’ in its place; and removing

‘‘part 101–46 of this title’’ and adding

‘‘part 102–39 of this chapter’’ in its

place;

I b. Removing from the definition

‘‘Foreign excess personal property,’’

‘‘the Commonwealth of Puerto Rico, and

the Commonwealth of’’ and adding

‘‘Puerto Rico, the Federated States of

Micronesia, the Marshall Islands, Palau,

and’’ in its place;

I c. Removing the definitions ‘‘Federal

Disposal System (FEDS)’’ and ‘‘Property

Act’’; and

I d

ng

‘‘part 102–39 of this chapter’’ in its

place;

I b. Removing from the definition

‘‘Foreign excess personal property,’’

‘‘the Commonwealth of Puerto Rico, and

the Commonwealth of’’ and adding

‘‘Puerto Rico, the Federated States of

Micronesia, the Marshall Islands, Palau,

and’’ in its place;

I c. Removing the definitions ‘‘Federal

Disposal System (FEDS)’’ and ‘‘Property

Act’’; and

I d. Adding the definition

‘‘GSAXcess’’ to read as follows:

§ 102–36.40

What definitions apply to this

part?

*

*

*

*

*

GSAXcess is GSA’s website for

reporting, searching and selecting

excess personal property. For

information on using GSAXcess,

access http://www.gsaxcess.gov.

*

*

*

*

*

§ 102–36.50

[Amended]

I 6. Amend § 102–36.50 by removing

‘‘the Property Act’’ and adding ‘‘title 40

of the United States Code’’ in its place.

§ 102–36.55

[Amended]

I 7. Amend § 102–36.55 by removing

from paragraph (e) ‘‘FEDS’’ and adding

‘‘GSAXcess’’ in its place.

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