Availability of Funds and Collection of Checks, 73128-73129 [E5-7098]
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73128
Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Rules and Regulations
The following findings are hereby
made with respect to the Upper
Midwest order:
(a) Findings upon the basis of the
hearing record. Pursuant to the
provisions of the Agricultural Marketing
Agreement Act of 1937, as amended (7
U.S.C. 601–674), and the applicable
rules of practice and procedure
governing the formulation of marketing
agreements and marketing orders (7 CFR
part 900), a public hearing was held
upon certain proposed amendments to
the tentative marketing agreement and
to the order regulating the handling of
milk in the Upper Midwest marketing
area.
Upon the basis of the evidence
introduced at such hearing and the
record thereof it is found that:
(1) The Upper Midwest order, as
hereby amended, and all of the terms
and conditions thereof, will tend to
effectuate the declared policy of the Act;
(2) The parity prices of milk, as
determined pursuant to section 2 of the
Act, are not reasonable in view of the
price of feeds, available supplies of
feeds, and other economic conditions
which affect market supply and demand
for milk in the marketing area, and the
minimum prices specified in the order,
as hereby amended, are such prices as
will reflect the aforesaid factors, insure
a sufficient quantity of pure and
wholesome milk, and be in the public
interest; and
(3) The Upper Midwest order, as
hereby amended, regulates the handling
of milk in the same manner as, and is
applicable only to persons in the
respective classes of industrial and
commercial activity specified in, a
marketing agreement upon which a
hearing has been held.
The amendments to these orders are
known to handlers. A final partial
decision containing the proposed
amendments to these orders was issued
on September 29, 2005.
The changes that result from these
amendments will not require extensive
preparation or substantial alteration in
the method of operation for handlers. In
view of the foregoing, it is hereby found
and determined that good cause exists
for making these order amendments
effective February 1, 2006. It would be
contrary to the public interest to delay
the effective date of these amendments
for 30 days after their publication in the
Federal Register. (Sec. 553(d),
Administrative Procedure Act, 5 U.S.C.
551–559.)
(b) Determinations. It is hereby
determined that:
(1) The refusal or failure of handlers
(excluding cooperative associations
specified in Sec. 8c(9) of the Act) of
VerDate Aug<31>2005
16:58 Dec 08, 2005
Jkt 208001
more than 50 percent of the milk that is
marketed within the specified marketing
area to sign a proposed marketing
agreement tends to prevent the
effectuation of the declared policy of the
Act;
(2) The issuance of this order
amending the Upper Midwest order is
the only practical means pursuant to the
declared policy of the Act of advancing
the interests of producers as defined in
the order as hereby amended;
(3) The issuance of the order
amending the Upper Midwest order is
favored by at least two-thirds of the
producers who were engaged in the
production of milk for sale in the
marketing area.
List of Subjects in 7 CFR Part 1030
Milk marketing orders.
Order Relative to Handling
It is therefore ordered, that on and
after the effective date hereof, the
handling of milk in the Upper Midwest
marketing area shall be in conformity to
and in compliance with the terms and
conditions of the order, as amended,
and as hereby further amended, as
follows:
I
PART 1030—MILK IN THE UPPER
MIDWEST MARKETING AREA
The interim final rule amending 7
CFR part 1030 which was published at
70 FR 31321 on June 1, 2005, is adopted
as a final rule without change.
I
Dated: December 5, 2005.
Lloyd C. Day,
Administrator, Agricultural Marketing
Service.
[FR Doc. 05–23820 Filed 12–8–05; 8:45 am]
BILLING CODE 3410–02–P
FEDERAL RESERVE SYSTEM
12 CFR Part 229
[Regulation CC; Docket No. R–1242]
Availability of Funds and Collection of
Checks
Board of Governors of the
Federal Reserve System.
ACTION: Final rule; technical
amendment.
AGENCY:
SUMMARY: The Board of Governors is
amending appendix A of Regulation CC
to delete the reference to the head office
of the Federal Reserve Bank of Boston
and reassign the Federal Reserve routing
symbols currently listed under that
office to the Windsor Locks office of the
Federal Reserve Bank of Boston. These
amendments will ensure that the
PO 00000
Frm 00006
Fmt 4700
Sfmt 4700
information in appendix A accurately
describes the actual structure of check
processing operations within the
Federal Reserve System.
DATES: The final rule will become
effective on February 25, 2006.
FOR FURTHER INFORMATION CONTACT: Jack
K. Walton II, Associate Director (202–
452–2660), or Joseph P. Baressi, Senior
Financial Services Analyst (202–452–
3959), Division of Reserve Bank
Operations and Payment Systems; or
Adrianne G. Threatt, Counsel (202–452–
3554), Legal Division. For users of
Telecommunications Devices for the
Deaf (TDD) only, contact 202–263–4869.
SUPPLEMENTARY INFORMATION: Regulation
CC establishes the maximum period a
depositary bank may wait between
receiving a deposit and making the
deposited funds available for
withdrawal.1 A depositary bank
generally must provide faster
availability for funds deposited by a
local check than by a nonlocal check. A
check drawn on a bank is considered
local if it is payable by or at a bank
located in the same Federal Reserve
check processing region as the
depositary bank. A check drawn on a
nonbank is considered local if it is
payable through a bank located in the
same Federal Reserve check processing
region as the depositary bank. Checks
that do not meet the requirements for
local checks are considered nonlocal.
Appendix A to Regulation CC
contains a routing number guide that
assists banks in identifying local and
nonlocal banks and thereby determining
the maximum permissible hold periods
for most deposited checks. The
appendix includes a list of each Federal
Reserve check processing office and the
first four digits of the routing number,
known as the Federal Reserve routing
symbol, of each bank that is served by
that office for check processing
purposes. Banks whose Federal Reserve
routing symbols are grouped under the
same office are in the same check
processing region and thus are local to
one another.
As explained in detail in the Board’s
final rule published in the Federal
Register on September 28, 2004, the
Federal Reserve Banks have decided to
restructure their check processing
services by reducing further the number
of locations at which they process
checks.2 The Board issues separate final
rules amending appendix A for each
phase of the restructuring, and the
1 For purposes of Regulation CC, the term ‘‘bank’’
refers to any depository institution, including
commercial banks, savings institutions, and credit
unions.
2 See 69 FR 57837, September 28, 2004.
E:\FR\FM\09DER1.SGM
09DER1
Federal Register / Vol. 70, No. 236 / Friday, December 9, 2005 / Rules and Regulations
amendments set forth in this notice are
such final rules.3
As part of the restructuring process,
the head office of the Federal Reserve
Bank of Boston will cease processing
checks on February 25, 2006. As of that
date, banks with routing symbols
currently assigned to the Boston head
office for check processing purposes
will be reassigned to the Boston Reserve
Bank’s Windsor Locks office. As a result
of this change, some checks that are
drawn on and deposited at banks
located in the affected check processing
regions and that currently are nonlocal
checks will become local checks subject
to faster availability schedules.
To assist banks in identifying local
and nonlocal banks, the Board
accordingly is amending the lists of
routing symbols assigned to First
District check processing offices to
conform to the transfer of operations
from the Boston head office to the
Windsor Locks office. To coincide with
the effective date of the underlying
check processing changes, the
amendments are effective February 25,
2006. The Board is providing advance
notice of these amendments to give
affected banks ample time to make any
needed processing changes. The
advance notice also will enable affected
banks to amend their availability
schedules and related disclosures, if
necessary, and provide their customers
with notice of these changes.4 The
Federal Reserve routing symbols
assigned to all other Federal Reserve
branches and offices will remain the
same at this time. The Board of
Governors, however, intends to issue
similar notices at least sixty days prior
to the elimination of check operations at
some other Reserve Bank offices, as
described in the September 2004
Federal Register document.
Administrative Procedure Act
The Board has not followed the
provisions of 5 U.S.C. 553(b) relating to
notice and public participation in
connection with the adoption of this
final rule. The revisions to the appendix
are technical in nature, and the routing
symbol revisions are required by the
statutory and regulatory definitions of
3 In addition to the general advance notice of
future amendments provided by the Board, and the
Board’s notices of final amendments, the Reserve
Banks are striving to inform affected depository
institutions of the exact date of each office
transition at least 120 days in advance. The Reserve
Banks’ communications to affected depository
institutions are available at https://
www.frbservices.org.
4 Section 229.18(e) of Regulation CC requires that
banks notify account holders who are consumers
within 30 days after implementing a change that
improves the availability of funds.
VerDate Aug<31>2005
16:58 Dec 08, 2005
Jkt 208001
‘‘check-processing region.’’ Because
there is no substantive change on which
to seek public input, the Board has
determined that the section 553(b)
notice and comment procedures are
unnecessary.
Paperwork Reduction Act
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C. 3506;
5 CFR 1320 Appendix A.1), the Board
has reviewed the final rule under
authority delegated to the Board by the
Office of Management and Budget. This
technical amendment to appendix A of
Regulation CC will delete the reference
to the head office of the Federal Reserve
Bank of Boston and reassign the routing
symbols listed under that office to the
Windsor Locks office of the Federal
Reserve Bank of Boston. The depository
institutions that are located in the
affected check processing regions and
that include the routing numbers in
their disclosure statements would be
required to notify customers of the
resulting change in availability under
§ 229.18(e). However, because all
paperwork collection procedures
associated with Regulation CC already
are in place, the Board anticipates that
no additional burden will be imposed as
a result of this rulemaking.
List of Subjects in 12 CFR Part 229
Banks, Banking, Reporting and
recordkeeping requirements.
Authority and Issuance
For the reasons set forth in the
preamble, the Board is amending 12
CFR part 229 to read as follows:
PART 229—AVAILABILITY OF FUNDS
AND COLLECTION OF CHECKS
(REGULATION CC)
1. The authority citation for part 229
continues to read as follows:
I
Authority: 12 U.S.C. 4001–4010, 12 U.S.C.
5001–5018.
2. The First Federal Reserve District
routing symbol list in appendix A is
revised to read as follows:
I
Appendix A To Part 229—Routing
Number Guide to Next-Day Availability
Checks and Local Checks
*
*
*
*
*
FIRST FEDERAL RESERVE
DISTRICT
[Federal Reserve Bank of Boston]
Windsor Locks Office:
0110 1
0111
0112
0113
PO 00000
Frm 00007
Fmt 4700
2110 2
2111
2112
2113
Sfmt 4700
73129
FIRST FEDERAL RESERVE
DISTRICT—Continued
[Federal Reserve Bank of Boston]
0114
0115
0116
0117
0118
0119
0211 3
2114
2115
2116
2117
2118
2119
2211 3
1 The first two digits identify the Federal
Reserve District. For example, 01 identifies the First Federal Reserve District
(Boston), and 12 identifies the Twelfth
District (San Francisco).
2 Adding 2 to the first digit denotes a
thrift institution. For example, 21 identifies
a thrift in the First District, and 32 denotes a thrift in the Twelfth District.
3 Banks
in Fairfield County, Connecticut, are members of the Federal Reserve Bank of New York and therefore
have Second District routing numbers.
Their checks, however, are processed by
the Windsor Locks office. Thus, checks
drawn on banks with 0211 or 2211 routing numbers would not be local checks
for Second District depositary banks.
*
*
*
*
*
By order of the Board of Governors of the
Federal Reserve System, acting through the
Secretary of the Board under delegated
authority, December 5, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5–7098 Filed 12–8–05; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 71
[Docket No. FAA–2004–19599; Airspace
Docket No. 2004–ASW–12]
Establishment of Class D Airspace,
Modification to Class E; Rogers, AR
Federal Aviation
Administration (FAA), DOT.
ACTION: Direct final rule; request for
comments.
AGENCY:
SUMMARY: This action establishes the
Class D and modifies the Class E
airspace area at Rogers Municipal/Carter
Field, Rogers, AR (ROG). Establishing an
Airport Traffic Control Tower at Rogers
Municipal/Carter Field, Rogers, AR, has
made this rule necessary. The intended
effect of this proposal is to provide
adequate controlled airspace for aircraft
operating in the vicinity of Rogers
Municipal/Carter Field, Rogers, AR.
DATES: Effective 0901 UTC, February 16,
2006.
Comments for inclusion in the Rules
Docket must be received on or before
January 16, 2006.
E:\FR\FM\09DER1.SGM
09DER1
]]>Agencies
[Federal Register Volume 70, Number 236 (Friday, December 9, 2005)]
[Rules and Regulations]
[Pages 73128-73129]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-7098]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
12 CFR Part 229
[Regulation CC; Docket No. R-1242]
Availability of Funds and Collection of Checks
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Final rule; technical amendment.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors is amending appendix A of Regulation CC
to delete the reference to the head office of the Federal Reserve Bank
of Boston and reassign the Federal Reserve routing symbols currently
listed under that office to the Windsor Locks office of the Federal
Reserve Bank of Boston. These amendments will ensure that the
information in appendix A accurately describes the actual structure of
check processing operations within the Federal Reserve System.
DATES: The final rule will become effective on February 25, 2006.
FOR FURTHER INFORMATION CONTACT: Jack K. Walton II, Associate Director
(202-452-2660), or Joseph P. Baressi, Senior Financial Services Analyst
(202-452-3959), Division of Reserve Bank Operations and Payment
Systems; or Adrianne G. Threatt, Counsel (202-452-3554), Legal
Division. For users of Telecommunications Devices for the Deaf (TDD)
only, contact 202-263-4869.
SUPPLEMENTARY INFORMATION: Regulation CC establishes the maximum period
a depositary bank may wait between receiving a deposit and making the
deposited funds available for withdrawal.\1\ A depositary bank
generally must provide faster availability for funds deposited by a
local check than by a nonlocal check. A check drawn on a bank is
considered local if it is payable by or at a bank located in the same
Federal Reserve check processing region as the depositary bank. A check
drawn on a nonbank is considered local if it is payable through a bank
located in the same Federal Reserve check processing region as the
depositary bank. Checks that do not meet the requirements for local
checks are considered nonlocal.
---------------------------------------------------------------------------
\1\ For purposes of Regulation CC, the term ``bank'' refers to
any depository institution, including commercial banks, savings
institutions, and credit unions.
---------------------------------------------------------------------------
Appendix A to Regulation CC contains a routing number guide that
assists banks in identifying local and nonlocal banks and thereby
determining the maximum permissible hold periods for most deposited
checks. The appendix includes a list of each Federal Reserve check
processing office and the first four digits of the routing number,
known as the Federal Reserve routing symbol, of each bank that is
served by that office for check processing purposes. Banks whose
Federal Reserve routing symbols are grouped under the same office are
in the same check processing region and thus are local to one another.
As explained in detail in the Board's final rule published in the
Federal Register on September 28, 2004, the Federal Reserve Banks have
decided to restructure their check processing services by reducing
further the number of locations at which they process checks.\2\ The
Board issues separate final rules amending appendix A for each phase of
the restructuring, and the
[[Page 73129]]
amendments set forth in this notice are such final rules.\3\
---------------------------------------------------------------------------
\2\ See 69 FR 57837, September 28, 2004.
\3\ In addition to the general advance notice of future
amendments provided by the Board, and the Board's notices of final
amendments, the Reserve Banks are striving to inform affected
depository institutions of the exact date of each office transition
at least 120 days in advance. The Reserve Banks' communications to
affected depository institutions are available at https://
www.frbservices.org.
---------------------------------------------------------------------------
As part of the restructuring process, the head office of the
Federal Reserve Bank of Boston will cease processing checks on February
25, 2006. As of that date, banks with routing symbols currently
assigned to the Boston head office for check processing purposes will
be reassigned to the Boston Reserve Bank's Windsor Locks office. As a
result of this change, some checks that are drawn on and deposited at
banks located in the affected check processing regions and that
currently are nonlocal checks will become local checks subject to
faster availability schedules.
To assist banks in identifying local and nonlocal banks, the Board
accordingly is amending the lists of routing symbols assigned to First
District check processing offices to conform to the transfer of
operations from the Boston head office to the Windsor Locks office. To
coincide with the effective date of the underlying check processing
changes, the amendments are effective February 25, 2006. The Board is
providing advance notice of these amendments to give affected banks
ample time to make any needed processing changes. The advance notice
also will enable affected banks to amend their availability schedules
and related disclosures, if necessary, and provide their customers with
notice of these changes.\4\ The Federal Reserve routing symbols
assigned to all other Federal Reserve branches and offices will remain
the same at this time. The Board of Governors, however, intends to
issue similar notices at least sixty days prior to the elimination of
check operations at some other Reserve Bank offices, as described in
the September 2004 Federal Register document.
---------------------------------------------------------------------------
\4\ Section 229.18(e) of Regulation CC requires that banks
notify account holders who are consumers within 30 days after
implementing a change that improves the availability of funds.
---------------------------------------------------------------------------
Administrative Procedure Act
The Board has not followed the provisions of 5 U.S.C. 553(b)
relating to notice and public participation in connection with the
adoption of this final rule. The revisions to the appendix are
technical in nature, and the routing symbol revisions are required by
the statutory and regulatory definitions of ``check-processing
region.'' Because there is no substantive change on which to seek
public input, the Board has determined that the section 553(b) notice
and comment procedures are unnecessary.
Paperwork Reduction Act
In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C.
3506; 5 CFR 1320 Appendix A.1), the Board has reviewed the final rule
under authority delegated to the Board by the Office of Management and
Budget. This technical amendment to appendix A of Regulation CC will
delete the reference to the head office of the Federal Reserve Bank of
Boston and reassign the routing symbols listed under that office to the
Windsor Locks office of the Federal Reserve Bank of Boston. The
depository institutions that are located in the affected check
processing regions and that include the routing numbers in their
disclosure statements would be required to notify customers of the
resulting change in availability under Sec. 229.18(e). However,
because all paperwork collection procedures associated with Regulation
CC already are in place, the Board anticipates that no additional
burden will be imposed as a result of this rulemaking.
List of Subjects in 12 CFR Part 229
Banks, Banking, Reporting and recordkeeping requirements.
Authority and Issuance
For the reasons set forth in the preamble, the Board is amending 12
CFR part 229 to read as follows:
PART 229--AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS
(REGULATION CC)
0
1. The authority citation for part 229 continues to read as follows:
Authority: 12 U.S.C. 4001-4010, 12 U.S.C. 5001-5018.
0
2. The First Federal Reserve District routing symbol list in appendix A
is revised to read as follows:
Appendix A To Part 229--Routing Number Guide to Next-Day
Availability Checks and Local Checks
* * * * *
FIRST FEDERAL RESERVE DISTRICT
[Federal Reserve Bank of Boston]
------------------------------------------------------------------------
------------------------------------------------------------------------
Windsor Locks Office:
0110 \1\ 2110 \2\
0111 2111
0112 2112
0113 2113
0114 2114
0115 2115
0116 2116
0117 2117
0118 2118
0119 2119
0211 \3\ 2211 \3\
------------------------------------------------------------------------
\1\ The first two digits identify the Federal Reserve District. For
example, 01 identifies the First Federal Reserve District (Boston),
and 12 identifies the Twelfth District (San Francisco).
\2\ Adding 2 to the first digit denotes a thrift institution. For
example, 21 identifies a thrift in the First District, and 32 denotes
a thrift in the Twelfth District.
\3\ Banks in Fairfield County, Connecticut, are members of the Federal
Reserve Bank of New York and therefore have Second District routing
numbers. Their checks, however, are processed by the Windsor Locks
office. Thus, checks drawn on banks with 0211 or 2211 routing numbers
would not be local checks for Second District depositary banks.
* * * * *
By order of the Board of Governors of the Federal Reserve
System, acting through the Secretary of the Board under delegated
authority, December 5, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5-7098 Filed 12-8-05; 8:45 am]
BILLING CODE 6210-01-P
