Extensions of Credit by Federal Reserve Banks, 75385-75386 [E5-7512]
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Federal Register / Vol. 70, No. 243 / Tuesday, December 20, 2005 / Rules and Regulations
fundraising program or event include
expenses for the solicitation of funds
and for the planning and administration
of actual fundraising programs and
events.
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*
*
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7. Section 300.33 is amended by:
a. Revising paragraph (c);
I b. Redesignating paragraph (d) as
paragraph (e) and removing ‘‘(d)(2)(i)’’
and adding ‘‘(e)(2)(i)’’ in its place in
newly designated paragraph (e)(2)(ii);
and
I c. Adding new paragraph (d).
Revisions and additions read as
follows:
I
I
§ 300.33 Allocation of costs of Federal
election activity.
*
*
*
*
*
(c) Costs of public communications.
Expenditures for public
communications as defined in 11 CFR
100.26 by State, district, and local party
committees and organizations that refer
to a clearly identified candidate for
Federal office and that promote,
support, attack, or oppose any such
candidate for Federal office must not be
allocated between or among Federal,
non-Federal, and Levin accounts. Only
Federal funds may be used.
(d) Costs of salaries, wages, and fringe
benefits.
(1) Except as provided in paragraph
(d)(3) of this section, salaries, wages,
and fringe benefits paid for employees
who spend 25% or less of their
compensated time in a given month on
Federal election activities or on
activities in connection with a Federal
election must either be paid only from
the Federal account or be allocated as
administrative costs under 11 CFR
106.7(d)(2).
(2) Salaries, wages, and fringe benefits
paid for employees who spend more
than 25% of their compensated time in
a given month on Federal election
activities or on activities in connection
with a Federal election must be paid
only from a Federal account.
(3) Salaries, wages, and fringe benefits
paid for employees who spend none of
their compensated time in a given
month on Federal election activities or
on activities in connection with a
Federal election may be paid entirely
with funds that comply with State law.
See 11 CFR 106.7(c)(1) and (d)(1).
*
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§ 300.36
[Amended]
8. In § 300.36, amend paragraph
(b)(2)(ii) by removing ‘‘(d)’’ and adding
in its place ‘‘(e)’’.
I
VerDate Aug<31>2005
16:09 Dec 19, 2005
Jkt 208001
Dated: December 14, 2005.
Scott E. Thomas,
Chairman, Federal Election Commission.
[FR Doc. 05–24249 Filed 12–19–05; 8:45 am]
BILLING CODE 6715–01–P
FEDERAL RESERVE SYSTEM
12 CFR Part 201
[Regulation A]
Extensions of Credit by Federal
Reserve Banks
Board of Governors of the
Federal Reserve System.
ACTION: Final rule.
AGENCY:
SUMMARY: The Board of Governors of the
Federal Reserve System (Board) has
adopted final amendments to its
Regulation A to reflect the Board’s
approval of an increase in the primary
credit rate at each Federal Reserve Bank.
The secondary credit rate at each
Reserve Bank automatically increased
by formula as a result of the Board’s
primary credit rate action.
DATES: The amendments to part 201
(Regulation A) are effective December
20, 2005. The rate changes for primary
and secondary credit were effective on
the dates specified in 12 CFR 201.51, as
amended.
FOR FURTHER INFORMATION CONTACT:
Jennifer J. Johnson, Secretary of the
Board (202/452–3259); for users of
Telecommunication Devices for the Deaf
(TDD) only, contact 202/263–4869.
SUPPLEMENTARY INFORMATION: The
Federal Reserve Banks make primary
and secondary credit available to
depository institutions as a backup
source of funding on a short-term basis,
usually overnight. The primary and
secondary credit rates are the interest
rates that the twelve Federal Reserve
Banks charge for extensions of credit
under these programs. In accordance
with the Federal Reserve Act, the
primary and secondary credit rates are
established by the boards of directors of
the Federal Reserve Banks, subject to
the review and determination of the
Board.
The Board approved requests by the
Reserve Banks to increase by 25 basis
points the primary credit rate in effect
at each of the twelve Federal Reserve
Banks, thereby increasing from 5.00
percent to 5.25 percent the rate that
each Reserve Bank charges for
extensions of primary credit. As a result
of the Board’s action on the primary
credit rate, the rate that each Reserve
Bank charges for extensions of
secondary credit automatically
PO 00000
Frm 00007
Fmt 4700
Sfmt 4700
75385
increased from 5.50 percent to 5.75
percent under the secondary credit rate
formula. The final amendments to
Regulation A reflect these rate changes.
The 25-basis-point increase in the
primary credit rate was associated with
a similar increase in the target for the
Federal funds rate (from 4.00 percent to
4.25 percent) approved by the Federal
Open Market Committee (Committee)
and announced at the same time. A
press release announcing these actions
indicated that:
Despite elevated energy prices and
hurricane-related disruptions, the expansion
in economic activity appears solid. Core
inflation has stayed relatively low in recent
months and longer-term inflation
expectations remain contained. Nevertheless,
possible increases in resource utilization as
well as elevated energy prices have the
potential to add to inflation pressures.
The Committee judges that some further
measured policy firming is likely to be
needed to keep the risks to the attainment of
both sustainable economic growth and price
stability roughly in balance. In any event, the
Committee will respond to changes in
economic prospects as needed to foster these
objectives.
Regulatory Flexibility Act Certification
Pursuant to the Regulatory Flexibility
Act (5 U.S.C. 605(b)), the Board certifies
that the new primary and secondary
credit rates will not have a significantly
adverse economic impact on a
substantial number of small entities
because the final rule does not impose
any additional requirements on entities
affected by the regulation.
Administrative Procedure Act
The Board did not follow the
provisions of 5 U.S.C. 553(b) relating to
notice and public participation in
connection with the adoption of these
amendments because the Board for good
cause determined that delaying
implementation of the new primary and
secondary credit rates in order to allow
notice and public comment would be
unnecessary and contrary to the public
interest in fostering price stability and
sustainable economic growth. For these
same reasons, the Board also has not
provided 30 days prior notice of the
effective date of the rule under section
553(d).
List of Subjects in 12 CFR Part 201
Banks, Banking, Federal Reserve
System, Reporting and recordkeeping.
Authority and Issuance
For the reasons set forth in the
preamble, the Board is amending 12
CFR Chapter II to read as follows:
I
E:\FR\FM\20DER1.SGM
20DER1
75386
Federal Register / Vol. 70, No. 243 / Tuesday, December 20, 2005 / Rules and Regulations
PART 201—EXTENSIONS OF CREDIT
BY FEDERAL RESERVE BANKS
(REGULATION A)
Authority: 12 U.S.C. 248(i)–(j), 343 et seq.,
347a, 347b, 347c, 348 et seq., 357, 374, 374a,
and 461.
1. The authority citation for part 201
continues to read as follows:
I
2. In § 201.51, paragraphs (a) and (b)
are revised to read as follows:
I
§ 201.51 Interest rates applicable to credit
extended by a Federal Reserve Bank.1
(a) Primary credit. The interest rates
for primary credit provided to
depository institutions under § 201.4(a)
are:
Federal Reserve Bank
Rate
Boston ......................................................................................................................................................................
New York .................................................................................................................................................................
Philadelphia .............................................................................................................................................................
Cleveland .................................................................................................................................................................
Richmond .................................................................................................................................................................
Atlanta ......................................................................................................................................................................
Chicago ....................................................................................................................................................................
St. Louis ...................................................................................................................................................................
Minneapolis ..............................................................................................................................................................
Kansas City ..............................................................................................................................................................
Dallas .......................................................................................................................................................................
San Francisco ..........................................................................................................................................................
(b) Secondary credit. The interest
rates for secondary credit provided to
Rate
Boston ......................................................................................................................................................................
New York .................................................................................................................................................................
Philadelphia .............................................................................................................................................................
Cleveland .................................................................................................................................................................
Richmond .................................................................................................................................................................
Atlanta ......................................................................................................................................................................
Chicago ....................................................................................................................................................................
St. Louis ...................................................................................................................................................................
Minneapolis ..............................................................................................................................................................
Kansas City ..............................................................................................................................................................
Dallas .......................................................................................................................................................................
San Francisco ..........................................................................................................................................................
*
*
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ACTION:
By order of the Board of Governors of the
Federal Reserve System, December 14, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5–7512 Filed 12–19–05; 8:45 am]
BILLING CODE 6210–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2005–22633; Directorate
Identifier 2005–NM–155–AD; Amendment
39–14422; AD 2005–26–01]
RIN 2120–AA64
Airworthiness Directives; Dassault
Model Falcon 2000 Airplanes
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
AGENCY:
1 The primary, secondary, and seasonal credit
rates described in this section apply to both
VerDate Aug<31>2005
16:09 Dec 19, 2005
Jkt 208001
December
December
December
December
December
December
December
December
December
December
December
December
13,
13,
13,
13,
13,
13,
13,
14,
13,
13,
13,
13,
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
depository institutions under 201.4(b)
are:
Federal Reserve Bank
*
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
5.25
Effective
Final rule.
SUMMARY: The FAA is adopting a new
airworthiness directive (AD) for certain
Dassault Model Falcon 2000 airplanes.
This AD requires an inspection for the
presence of fail-safe pins, nuts, and
washers on each engine, and
replacement of the fail-safe fastener
assembly with a new assembly if
necessary. This AD results from a report
of a missing pin of a fail-safe fastener.
We are issuing this AD to prevent
reduced structural integrity of an engine
mount due to a missing pin of a fail-safe
fastener, and possible separation of an
engine from the airplane during flight.
DATES: This AD becomes effective
January 24, 2006.
The Director of the Federal Register
approved the incorporation by reference
of a certain publication listed in the AD
as of January 24, 2006.
ADDRESSES: You may examine the AD
docket on the Internet at https://
dms.dot.gov or in person at the Docket
advances and discounts made under the primary,
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
Effective
December
December
December
December
December
December
December
December
December
December
December
December
13,
13,
13,
13,
13,
13,
13,
14,
13,
13,
13,
13,
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
2005.
Management Facility, U.S. Department
of Transportation, 400 Seventh Street
SW., Nassif Building, Room PL–401,
Washington, DC.
Contact Dassault Falcon Jet, P.O. Box
2000, South Hackensack, New Jersey
07606, for service information identified
in this AD.
FOR FURTHER INFORMATION CONTACT: Tom
Rodriguez, Aerospace Engineer,
International Branch, ANM–116,
Transport Airplane Directorate, FAA,
1601 Lind Avenue, SW., Renton,
Washington 98055–4056; telephone
(425) 227–1137; fax (425) 227–1149.
SUPPLEMENTARY INFORMATION:
Examining the Docket
You may examine the airworthiness
directive (AD) docket on the Internet at
https://dms.dot.gov or in person at the
Docket Management Facility office
between 9 a.m. and 5 p.m., Monday
through Friday, except Federal holidays.
The Docket Management Facility office
(telephone (800) 647–5227) is located on
secondary, and seasonal credit programs,
respectively.
E:\FR\FM\20DER1.SGM
20DER1
]]>Agencies
[Federal Register Volume 70, Number 243 (Tuesday, December 20, 2005)]
[Rules and Regulations]
[Pages 75385-75386]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-7512]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
12 CFR Part 201
[Regulation A]
Extensions of Credit by Federal Reserve Banks
AGENCY: Board of Governors of the Federal Reserve System.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
has adopted final amendments to its Regulation A to reflect the Board's
approval of an increase in the primary credit rate at each Federal
Reserve Bank. The secondary credit rate at each Reserve Bank
automatically increased by formula as a result of the Board's primary
credit rate action.
DATES: The amendments to part 201 (Regulation A) are effective December
20, 2005. The rate changes for primary and secondary credit were
effective on the dates specified in 12 CFR 201.51, as amended.
FOR FURTHER INFORMATION CONTACT: Jennifer J. Johnson, Secretary of the
Board (202/452-3259); for users of Telecommunication Devices for the
Deaf (TDD) only, contact 202/263-4869.
SUPPLEMENTARY INFORMATION: The Federal Reserve Banks make primary and
secondary credit available to depository institutions as a backup
source of funding on a short-term basis, usually overnight. The primary
and secondary credit rates are the interest rates that the twelve
Federal Reserve Banks charge for extensions of credit under these
programs. In accordance with the Federal Reserve Act, the primary and
secondary credit rates are established by the boards of directors of
the Federal Reserve Banks, subject to the review and determination of
the Board.
The Board approved requests by the Reserve Banks to increase by 25
basis points the primary credit rate in effect at each of the twelve
Federal Reserve Banks, thereby increasing from 5.00 percent to 5.25
percent the rate that each Reserve Bank charges for extensions of
primary credit. As a result of the Board's action on the primary credit
rate, the rate that each Reserve Bank charges for extensions of
secondary credit automatically increased from 5.50 percent to 5.75
percent under the secondary credit rate formula. The final amendments
to Regulation A reflect these rate changes.
The 25-basis-point increase in the primary credit rate was
associated with a similar increase in the target for the Federal funds
rate (from 4.00 percent to 4.25 percent) approved by the Federal Open
Market Committee (Committee) and announced at the same time. A press
release announcing these actions indicated that:
Despite elevated energy prices and hurricane-related
disruptions, the expansion in economic activity appears solid. Core
inflation has stayed relatively low in recent months and longer-term
inflation expectations remain contained. Nevertheless, possible
increases in resource utilization as well as elevated energy prices
have the potential to add to inflation pressures.
The Committee judges that some further measured policy firming
is likely to be needed to keep the risks to the attainment of both
sustainable economic growth and price stability roughly in balance.
In any event, the Committee will respond to changes in economic
prospects as needed to foster these objectives.
Regulatory Flexibility Act Certification
Pursuant to the Regulatory Flexibility Act (5 U.S.C. 605(b)), the
Board certifies that the new primary and secondary credit rates will
not have a significantly adverse economic impact on a substantial
number of small entities because the final rule does not impose any
additional requirements on entities affected by the regulation.
Administrative Procedure Act
The Board did not follow the provisions of 5 U.S.C. 553(b) relating
to notice and public participation in connection with the adoption of
these amendments because the Board for good cause determined that
delaying implementation of the new primary and secondary credit rates
in order to allow notice and public comment would be unnecessary and
contrary to the public interest in fostering price stability and
sustainable economic growth. For these same reasons, the Board also has
not provided 30 days prior notice of the effective date of the rule
under section 553(d).
List of Subjects in 12 CFR Part 201
Banks, Banking, Federal Reserve System, Reporting and
recordkeeping.
Authority and Issuance
0
For the reasons set forth in the preamble, the Board is amending 12 CFR
Chapter II to read as follows:
[[Page 75386]]
PART 201--EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION
A)
0
1. The authority citation for part 201 continues to read as follows:
Authority: 12 U.S.C. 248(i)-(j), 343 et seq., 347a, 347b, 347c,
348 et seq., 357, 374, 374a, and 461.
0
2. In Sec. 201.51, paragraphs (a) and (b) are revised to read as
follows:
Sec. 201.51 Interest rates applicable to credit extended by a Federal
Reserve Bank.\1\
---------------------------------------------------------------------------
\1\ The primary, secondary, and seasonal credit rates described
in this section apply to both advances and discounts made under the
primary, secondary, and seasonal credit programs, respectively.
---------------------------------------------------------------------------
(a) Primary credit. The interest rates for primary credit provided
to depository institutions under Sec. 201.4(a) are:
------------------------------------------------------------------------
Federal Reserve Bank Rate Effective
------------------------------------------------------------------------
Boston.......................... 5.25 December 13, 2005.
New York........................ 5.25 December 13, 2005.
Philadelphia.................... 5.25 December 13, 2005.
Cleveland....................... 5.25 December 13, 2005.
Richmond........................ 5.25 December 13, 2005.
Atlanta......................... 5.25 December 13, 2005.
Chicago......................... 5.25 December 13, 2005.
St. Louis....................... 5.25 December 14, 2005.
Minneapolis..................... 5.25 December 13, 2005.
Kansas City..................... 5.25 December 13, 2005.
Dallas.......................... 5.25 December 13, 2005.
San Francisco................... 5.25 December 13, 2005.
------------------------------------------------------------------------
(b) Secondary credit. The interest rates for secondary credit
provided to depository institutions under 201.4(b) are:
------------------------------------------------------------------------
Federal Reserve Bank Rate Effective
------------------------------------------------------------------------
Boston.......................... 5.75 December 13, 2005.
New York........................ 5.75 December 13, 2005.
Philadelphia.................... 5.75 December 13, 2005.
Cleveland....................... 5.75 December 13, 2005.
Richmond........................ 5.75 December 13, 2005.
Atlanta......................... 5.75 December 13, 2005.
Chicago......................... 5.75 December 13, 2005.
St. Louis....................... 5.75 December 14, 2005.
Minneapolis..................... 5.75 December 13, 2005.
Kansas City..................... 5.75 December 13, 2005.
Dallas.......................... 5.75 December 13, 2005.
San Francisco................... 5.75 December 13, 2005.
------------------------------------------------------------------------
* * * * *
By order of the Board of Governors of the Federal Reserve
System, December 14, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E5-7512 Filed 12-19-05; 8:45 am]
BILLING CODE 6210-01-P
