Discount Rates for Cost-Effectiveness Analysis of Federal Programs, 6913-6914 [05-2474]
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6913
Federal Register / Vol. 70, No. 26 / Wednesday, February 9, 2005 / Notices
3. How often the collection is
required: On occasion and every 10 to
20 years for applications for renewal.
4. Who is required or asked to report:
Designers of commercial nuclear power
plants, electric power companies, and
any person eligible under the Atomic
Energy Act to apply for a construction
permit for a nuclear power plant.
5. The number of annual respondents:
2.666 (2 early site permit applicants, 2
combined license applicants, and 4
design certification applicants are
expected over a 3 year period.).
6. The number of hours needed
annually to complete the requirement or
request: 205,161 hours.
7. Abstract: 10 CFR Part 52 establishes
requirements for the granting of early
site permits, certifications of standard
nuclear power plant designs, and
licenses which combine in a single
license a construction permit, and an
operating license with conditions
(combined licenses), manufacturing
licenses, standard design approvals, and
pre-application reviews of site
suitability issues. Part 52 also
establishes requirements for renewal of
those approvals, permits, certifications,
and licenses; amendments to them;
exemptions from certifications; and
variances from early site permits.
NRC uses the information collected to
assess the adequacy and suitability of an
applicant’s site, plant design,
construction, training and experience,
and plans and procedures for the
protection of public health and safety.
The NRC review of such information
and the findings derived from that
information from the basis of NRC
decisions and actions concerning the
issuance, modification, or revocation of
site permits, design certifications,
combined licenses, and manufacturing
licenses for nuclear power plants.
Submit, by April 11, 2005, comments
that address the following questions:
1. Is the proposed collection of
information necessary for the NRC to
properly perform its functions? Does the
information have practical utility?
2. Is the burden estimate accurate?
3. Is there a way to enhance the
quality, utility, and clarity of the
information to be collected?
4. How can the burden of the
information collection be minimized,
including the use of automated
collection techniques or other forms of
information technology?
A copy of the draft supporting
statement may be viewed free of charge
at the NRC Public Document Room, One
White Flint North, 11555 Rockville
Pike, Room O–1 F21, Rockville, MD
20852. OMB clearance requests are
available at the NRC worldwide Web
site: https://www.nrc.gov/public-involve/
doc-comment/omb/. The
document will be available on the NRC
home page site for 60 days after the
signature date of this notice.
Comments and questions about the
information collection requirements
may be directed to the NRC Clearance
Officer, Brenda Jo. Shelton (T–5 F53),
U.S. Nuclear Regulatory Commission,
Washington, DC 20555–0001, by
telephone at 301–415–7233, or by
Internet electronic mail to
INFOCOLLECTS@NRC.GOV.
Dated at Rockville, Maryland, this 2nd day
of February, 2005.
For the Nuclear Regulatory Commission.
Brenda Jo. Shelton,
NRC Clearance Officer, Office of the Chief
Information Officer.
[FR Doc. 05–2482 Filed 2–8–05; 8:45 am]
BILLING CODE 7590–01–P
OFFICE OF MANAGEMENT AND
BUDGET
Discount Rates for Cost-Effectiveness
Analysis of Federal Programs
Office of Management and
Budget.
ACTION: Revisions to Appendix C of
OMB Circular A–94.
AGENCY:
SUMMARY: The Office of Management
and Budget revised Circular A–94 in
1992. The revised Circular specified
certain discount rates to be updated
annually when the interest rate and
inflation assumptions used to prepare
the budget of the United States
Government were changed. These
discount rates are found in Appendix C
of the revised Circular. The updated
discount rates are shown below. The
discount rates in Appendix C are to be
used for cost-effectiveness analysis,
including lease-purchase analysis, as
specified in the revised Circular. They
do not apply to regulatory analysis.
The revised discount rates are
effective immediately and will be in
effect through January 2006.
DATES:
FOR FURTHER INFORMATION CONTACT:
Robert B. Anderson, Office of Economic
Policy, Office of Management and
Budget, (202) 395–3381.
James D. Foster,
Associate Director for Economic Policy, Office
of Management and Budget.
Appendix C
(Revised January 2005)
Discount Rates for Cost-Effectiveness, Lease
Purchase, and Related Analyses
Effective Dates. This appendix is updated
annually around the time of the President’s
budget submission to Congress. This version
of the appendix is valid through the end of
January 2006. A copy of the updated
appendix can be obtained in electronic form
through the OMB home page at https://
www.whitehouse.gov/omb/circulars/a094/
a94_appx-c.html, the text of the main body
of the Circular is found at https://
www.whitehouse.gov/omb/circulars/a094/
a094.html, and a table of past years’ rates is
located at https://www.whitehouse.gov/omb/
circulars/a094/DISCHIST–2005.pdf. Updates
of the appendix are also available upon
request from OMB’s Office of Economic
Policy (202–395–3381).
Nominal Discount Rates. A forecast of
nominal or market interest rates for 2005
based on the economic assumptions from the
2006 Budget are presented below. These
nominal rates are to be used for discounting
nominal flows, which are often encountered
in lease-purchase analysis.
NOMINAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[In percent]
3-Year
5-Year
7-Year
10-Year
30-Year
3.7
4.1
4.4
4.6
5.2
Real Discount Rates. A forecast of real
interest rates from which the inflation
premium has been removed and based on the
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16:49 Feb 08, 2005
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economic assumptions from the 2006 Budget
is presented below. These real rates are to be
used for discounting real (constant-dollar)
PO 00000
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Fmt 4703
Sfmt 4703
flows, as is often required in costeffectiveness analysis.
E:\FR\FM\09FEN1.SGM
09FEN1
6914
Federal Register / Vol. 70, No. 26 / Wednesday, February 9, 2005 / Notices
REAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[In percent]
3-Year
5-Year
7-Year
10-Year
30-Year
1.7
2.0
2.3
2.5
3.1
Analyses of programs with terms different
from those presented above may use a linear
interpolation. For example, a four-year
project can be evaluated with a rate equal to
the average of the three-year and five-year
rates. Programs with durations longer than 30
years may use the 30-year interest rate.
Dated: February 7, 2005.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 05–2662 Filed 2–7–05; 3:59 pm]
[FR Doc. 05–2474 Filed 2–8–05; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
BILLING CODE 3110–01–P
BILLING CODE 8010–01–P
(Release No. 34–51125; File No. SR–PCX–
2005–15)
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold the following
meeting during the week of February 14,
2005:
A Closed Meeting will be held on
Tuesday, February 15, 2005 at 2 p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters may also be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), (9)(B), and
(10) and 17 CFR 200.402(a)(3), (5), (7),
9(ii) and (10), permit consideration of
the scheduled matters at the Closed
Meeting.
Commissioner Goldschmid, as duty
officer, voted to consider the items
listed for the closed meeting in closed
session.
The subject matter of the Closed Meeting
scheduled for Tuesday, February 15, 2005,
will be:
Formal orders of investigations;
Institution and settlement of injunctive
actions; and
Institution and settlement of administrative
proceedings of an enforcement nature;
and
Litigation matter.
At times, changes in Commission priorities
require alterations in the scheduling of
meeting items. For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please contact:
The Office of the Secretary at (202) 942–
7070.
VerDate jul<14>2003
16:49 Feb 08, 2005
Jkt 205001
Self-Regulatory Organizations; Notice
of Filing of Proposed Rule Change by
the Pacific Exchange, Inc. Relating To
Primary Only Orders
February 2, 2005.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’).1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
1, 2005, the Pacific Exchange, Inc.
(‘‘PCS’’ and ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
by the PCX. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
1. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change.
The PCX, through its wholly-owned
subsidiary PCX Equities, Inc. (‘‘PCXE’’),
proposed to amend its PCXE Rule
7.31(x) to provide that the Primary Only
Order (‘‘PO Order’’) may apply to
Nasdaq securities traded on the
Archipelago Exchange (‘‘ArcaEx’’)
facility, and may be either market or
limit orders. The test of the proposed
rule change is available on the PCX’s
Web site (https://www.pacificex.com), at
the PCX’s Office of the Secretary and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change.
In its filing with the Commission, the
PCX included statements concerning the
purpose of and basis for the proposed
PO 00000
1 15
2 17
U.S.C. 78s(b)(1)
CFR 240.19b–4.
Frm 00086
Fmt 4703
Sfmt 4703
rule change. The text of these statements
may be examined at the places specified
in Item IV below. The PCX has prepared
summaries, set forth in Section A, B and
C below, of the most significant aspects
of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change.
1. Purpose
As part of its continuing efforts to
enhance participation on the ArcaEx
facility, the PCX is proposing to amend
PCXE Rule 7.31(x) to clarify that PO
Orders may also apply to Nasdaq
securities, and may be either market or
limit orders.
Currently, PCXE Rule 7.31(x) defines
PO Orders as market orders that are
routed to the primary market, and
applies only to exchange-listed
securities.3 ArcaEx proposes to expand
the PO Order functionality to include
Nasdaq securities and modify Rule
7.31(x) accordingly. As such, the
Exchange proposes to delete the
language in PCXE Rule 7.31(x), which
limits the PO Order functionality to
exchange-listed securities only and
proposes minor changes to indicate that
PO Orders may be either market or limit
orders. Further, PO market orders in
Nasdaq securities received prior to 6:28
a.m. PT will be marked ‘‘OO’’ (OnOpen 4) and will be routed to Nasdaq for
possible participation in Nasdaq’s
Opening Cross. The unexecuted shares
that are sent back to ArcaEx after the
Market Order Auction 5 will be
processed as regular market orders in
the Core Session as described in PCXE
Rule 7.37. Any PO Market orders
marked OO that are sent back to ArcaEx
before ArcaEx conducts the Market
Order Auction will be cancelled back to
the customer.
The Exchange believes that
implementing these changes will
3 The Exchange currently interprets and will
continue to interpret under this proposal the term
‘‘primary market’’ as the market which has the
authority to declare a regulatory halt.
4 ‘‘On Open’’ or ‘‘OO’’ is a marking recognized by
the Nasdaq stock market as an order type executable
only during Nasdaq’s Opening Cross. Further,
market orders sent with an ‘‘OO’’ designator are
treated as market on-open orders by Nasdaq.
5 See PCXE Rule 7.35.
E:\FR\FM\09FEN1.SGM
09FEN1
]]>Agencies
[Federal Register Volume 70, Number 26 (Wednesday, February 9, 2005)]
[Notices]
[Pages 6913-6914]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-2474]
=======================================================================
-----------------------------------------------------------------------
OFFICE OF MANAGEMENT AND BUDGET
Discount Rates for Cost-Effectiveness Analysis of Federal
Programs
AGENCY: Office of Management and Budget.
ACTION: Revisions to Appendix C of OMB Circular A-94.
-----------------------------------------------------------------------
SUMMARY: The Office of Management and Budget revised Circular A-94 in
1992. The revised Circular specified certain discount rates to be
updated annually when the interest rate and inflation assumptions used
to prepare the budget of the United States Government were changed.
These discount rates are found in Appendix C of the revised Circular.
The updated discount rates are shown below. The discount rates in
Appendix C are to be used for cost-effectiveness analysis, including
lease-purchase analysis, as specified in the revised Circular. They do
not apply to regulatory analysis.
DATES: The revised discount rates are effective immediately and will be
in effect through January 2006.
FOR FURTHER INFORMATION CONTACT: Robert B. Anderson, Office of Economic
Policy, Office of Management and Budget, (202) 395-3381.
James D. Foster,
Associate Director for Economic Policy, Office of Management and
Budget.
Appendix C
(Revised January 2005)
Discount Rates for Cost-Effectiveness, Lease Purchase, and Related
Analyses
Effective Dates. This appendix is updated annually around the
time of the President's budget submission to Congress. This version
of the appendix is valid through the end of January 2006. A copy of
the updated appendix can be obtained in electronic form through the
OMB home page at https://www.whitehouse.gov/omb/circulars/a094/a94_
appx-c.html, the text of the main body of the Circular is found at
https://www.whitehouse.gov/omb/circulars/a094/a094.html, and a table
of past years' rates is located at https://www.whitehouse.gov/omb/
circulars/a094/DISCHIST-2005.pdf. Updates of the appendix are also
available upon request from OMB's Office of Economic Policy (202-
395-3381).
Nominal Discount Rates. A forecast of nominal or market interest
rates for 2005 based on the economic assumptions from the 2006
Budget are presented below. These nominal rates are to be used for
discounting nominal flows, which are often encountered in lease-
purchase analysis.
Nominal Interest Rates on Treasury Notes and Bonds of Specified
Maturities
[In percent]
------------------------------------------------------------------------
3-Year 5-Year 7-Year 10-Year 30-Year
------------------------------------------------------------------------
3.7 4.1 4.4 4.6 5.2
------------------------------------------------------------------------
Real Discount Rates. A forecast of real interest rates from
which the inflation premium has been removed and based on the
economic assumptions from the 2006 Budget is presented below. These
real rates are to be used for discounting real (constant-dollar)
flows, as is often required in cost-effectiveness analysis.
[[Page 6914]]
Real Interest Rates on Treasury Notes and Bonds of Specified Maturities
[In percent]
------------------------------------------------------------------------
3-Year 5-Year 7-Year 10-Year 30-Year
------------------------------------------------------------------------
1.7 2.0 2.3 2.5 3.1
------------------------------------------------------------------------
Analyses of programs with terms different from those presented
above may use a linear interpolation. For example, a four-year
project can be evaluated with a rate equal to the average of the
three-year and five-year rates. Programs with durations longer than
30 years may use the 30-year interest rate.
[FR Doc. 05-2474 Filed 2-8-05; 8:45 am]
BILLING CODE 3110-01-P
