Extensions of Credit by Federal Reserve Banks, 6341-6342 [06-1158]
Download as PDF
<![CDATA[
Federal Register / Vol. 71, No. 26 / Wednesday, February 8, 2006 / Rules and Regulations
directives and notices. Customers can
add or delete subscriptions themselves
and have the option to password protect
their account.
List of Subjects in 9 CFR Part 352
Done at Washington, DC, on February 2,
2006.
Barbara J. Masters,
Administrator.
[FR Doc. 06–1101 Filed 2–7–06; 8:45 am]
BILLING CODE 3410–DM–P
Food labeling, Meat inspection,
Reporting and recordkeeping
requirements.
FEDERAL RESERVE SYSTEM
For the reasons discussed in the
preamble, FSIS is amending 9 CFR part
352 of the Federal meat inspection
regulations as follows:
I
PART 352—EXOTIC ANIMALS AND
HORSES; VOLUNTARY INSPECTION
2. The authority citation for part 352
continues to read as follows:
Authority: 7 U.S.C. 1622, 1624; 7 CFR
2.17(g) and (i), 2.55.
3. A new subpart A heading is added
before § 352.1 to read as follows:
I
Subpart A—Exotic Animals
4. A new Subpart B is added to read
as follows:
I
Subpart B—Horses
rmajette on PROD1PC67 with RULES1
§ 352.19 Ante-mortem inspection and
applicable requirements.
Notwithstanding part 309 of this
subchapter, an official establishment
that wishes to slaughter horses can
apply for voluntary ante-mortem
inspection according to § 352.3. Such
establishments shall pay the applicable
base time, overtime, and holiday rates
for ante-mortem inspection in
accordance with § 352.5. Such antemortem inspection shall be made in
pens on the premises of the
establishment at which the horses are
offered for slaughter in accordance with
§ 309.1(b), and such establishments also
shall comply with all applicable
provisions of §§ 352.8 and 352.9. If the
establishment complies with all these
requirements for ante-mortem
inspection, FSIS will conduct antemortem inspection at that establishment
in accordance with § 352.10, and all
other provisions in part 309 of this
subchapter that pertain to horses will
apply. FSIS may deny or withdraw antemortem inspection services at official
establishments that slaughter horses for
any applicable reason under § 352.6.
Official marks and devices to identify
inspected and passed horse carcasses
and parts of carcasses, or horse meat
food products shall be those in § 312.3
of this subchapter.
Jkt 208001
Extensions of Credit by Federal
Reserve Banks
Board of Governors of the
Federal Reserve System.
ACTION: Final rule.
I
15:23 Feb 07, 2006
[Regulation A]
AGENCY:
1. The heading of part 352 is revised
to read as set forth above.
I
VerDate Aug<31>2005
12 CFR Part 201
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 February 8,
2006. 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 5.25
percent to 5.50 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
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
6341
secondary credit automatically
increased from 5.75 percent to 6.00
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 4.25 percent to
4.50 percent) approved by the Federal
Open Market Committee (Committee)
and announced at the same time. A
press release announcing these actions
indicated that:
Although recent economic data have been
uneven, the expansion in economic activity
appears solid. Core inflation has stayed
relatively low in recent months and longerterm 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
policy firming may 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).
12 CFR Chapter II
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\08FER1.SGM
08FER1
6342
Federal Register / Vol. 71, No. 26 / Wednesday, February 8, 2006 / Rules and Regulations
PART 201—EXTENSIONS OF CREDIT
BY FEDERAL RESERVE BANKS
(REGULATION A)
DEPARTMENT OF TRANSPORTATION
1. The authority citation for part 201
continues to read as follows:
14 CFR Part 39
I
Authority: 12 U.S.C. 248(i)–(j), 343 et seq.,
347a, 347b, 347c, 348 et seq., 357, 374, 374a,
and 461.
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 ..
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
Effective
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
February 1, 2006.
February 2, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
(b) Secondary credit. The interest
rates for secondary credit provided to
depository institutions under 201.4(b)
are:
Federal Reserve
Bank
Rate
Boston ..............
New York ..........
Philadelphia ......
Cleveland .........
Richmond .........
Atlanta ..............
Chicago ............
St. Louis ...........
Minneapolis ......
Kansas City ......
Dallas ...............
San Francisco ..
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
6.00
*
*
*
*
Effective
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
February 1, 2006.
February 2, 2006.
January 31, 2006.
January 31, 2006.
January 31, 2006.
*
By order of the Board of Governors of the
Federal Reserve System, February 2, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 06–1158 Filed 2–7–06; 8:45 am]
rmajette on PROD1PC67 with RULES1
BILLING CODE 6210–02–P
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.
VerDate Aug<31>2005
15:23 Feb 07, 2006
Jkt 208001
Federal Aviation Administration
Discussion
[Docket No. FAA–2005–22401; Directorate
Identifier 2004–NM–93–AD; Amendment 39–
14480; AD 2006–03–16]
RIN 2120–AA64
Airworthiness Directives; Hamburger
Flugzeugbau GmbH Model HFB 320
HANSA Airplanes
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
ACTION: Final rule.
AGENCY:
SUMMARY: The FAA is adopting a new
airworthiness directive (AD) for all
Hamburger Flugzeugbau GmbH Model
HFB 320 HANSA airplanes. This AD
requires revising the Limitations section
of the HFB 320 Hansa Airplane Flight
Manual to prohibit operation of the
airplane past its designed life limit for
the primary structure, which is 15,000
flight hours or 15,000 fight cycles,
whichever occurs first; and to require
contacting the FAA for approval of
analysis that the airplane is safe to
continue operation beyond the designed
life limit. This AD results from a report
that all airplanes in operation might
have met or exceeded the designed life
limit for the primary structure. We are
issuing this AD to prevent continued
operation of an airplane beyond its
designed life limit for the primary
structure, which could result in reduced
structural integrity of the airplane.
DATES: This AD becomes effective
March 15, 2006.
ADDRESSES: You may examine the AD
docket on the Internet at https://
dms.dot.gov or in person at the Docket
Management Facility, U.S. Department
of Transportation, 400 Seventh Street,
SW., Nassif Building, room PL–401,
Washington, DC.
FOR FURTHER INFORMATION CONTACT: Dan
Rodina, Aerospace Engineer,
International Branch, ANM–116,
Transport Airplane Directorate, FAA,
1601 Lind Avenue, SW., Renton,
Washington 98055–4056; telephone
(425) 227–2125; 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
PO 00000
Frm 00006
Fmt 4700
(telephone (800) 647–5227) is located on
the plaza level of the Nassif Building at
the street address stated in the
ADDRESSES section.
Sfmt 4700
The FAA issued a notice of proposed
rulemaking (NPRM) to amend 14 CFR
part 39 to include an AD that would
apply to all Hamburger Flugzeugbau
GmbH Model HFB 320 HANSA
airplanes. That NPRM was published in
the Federal Register on September 14,
2005 (70 FR 54314). That NPRM
proposed to require revising the
Limitations section of the HFB 320
Hansa Airplane Flight Manual (AFM) to
prohibit operation of the airplane past
its designed life limit for the primary
structure, which is 15,000 flight hours
or 15,000 fight cycles, whichever occurs
first; and to require contacting the FAA
for approval of analysis that the airplane
is safe to continue operation beyond the
designed life limit.
Comments
We provided the public the
opportunity to participate in the
development of this AD. We received no
comments on the NPRM or on the
determination of the cost to the public.
Clarification of Alternative Method of
Compliance (AMOC) Paragraph
We have revised this action to clarify
the appropriate procedure for notifying
the principal inspector before using any
approved AMOC on any airplane to
which the AMOC applies.
Conclusion
We have carefully reviewed the
available data and determined that air
safety and the public interest require
adopting the AD with the change
described previously. We have
determined that this change will neither
increase the economic burden on any
operator nor increase the scope of the
AD.
Costs of Compliance
There are 4 airplanes of U.S. registry
that will be affected by this AD. The
revision to the Limitations section will
take about 1 work hour per airplane at
an average labor rate of $65 per work
hour. Based on these figures, the cost of
the AFM revision for U.S. operators will
be $260, or $65 per airplane. We
recognize that this AD may impose
certain additional operational costs.
However, we cannot calculate those
costs because we cannot predict the
extent of any necessary repairs to ensure
the continued airworthiness of the
affected airplanes.
E:\FR\FM\08FER1.SGM
08FER1
]]>Agencies
[Federal Register Volume 71, Number 26 (Wednesday, February 8, 2006)]
[Rules and Regulations]
[Pages 6341-6342]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-1158]
=======================================================================
-----------------------------------------------------------------------
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 February
8, 2006. 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 5.25 percent to 5.50
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 5.75 percent to 6.00
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 4.25 percent to 4.50 percent) approved by the Federal Open
Market Committee (Committee) and announced at the same time. A press
release announcing these actions indicated that:
Although recent economic data have been uneven, 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 policy firming may 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).
12 CFR Chapter II
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 6342]]
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............................ 5.50 January 31, 2006.
New York.......................... 5.50 January 31, 2006.
Philadelphia...................... 5.50 January 31, 2006.
Cleveland......................... 5.50 January 31, 2006.
Richmond.......................... 5.50 January 31, 2006.
Atlanta........................... 5.50 January 31, 2006.
Chicago........................... 5.50 January 31, 2006.
St. Louis......................... 5.50 February 1, 2006.
Minneapolis....................... 5.50 February 2, 2006.
Kansas City....................... 5.50 January 31, 2006.
Dallas............................ 5.50 January 31, 2006.
San Francisco..................... 5.50 January 31, 2006.
------------------------------------------------------------------------
(b) Secondary credit. The interest rates for secondary credit
provided to depository institutions under 201.4(b) are:
------------------------------------------------------------------------
Federal Reserve Bank Rate Effective
------------------------------------------------------------------------
Boston............................ 6.00 January 31, 2006.
New York.......................... 6.00 January 31, 2006.
Philadelphia...................... 6.00 January 31, 2006.
Cleveland......................... 6.00 January 31, 2006.
Richmond.......................... 6.00 January 31, 2006.
Atlanta........................... 6.00 January 31, 2006.
Chicago........................... 6.00 January 31, 2006.
St. Louis......................... 6.00 February 1, 2006.
Minneapolis....................... 6.00 February 2, 2006.
Kansas City....................... 6.00 January 31, 2006.
Dallas............................ 6.00 January 31, 2006.
San Francisco..................... 6.00 January 31, 2006.
------------------------------------------------------------------------
* * * * *
By order of the Board of Governors of the Federal Reserve
System, February 2, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 06-1158 Filed 2-7-06; 8:45 am]
BILLING CODE 6210-02-P
