Extensions of Credit by Federal Reserve Banks, 39520-39521 [E6-11013]
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Federal Register / Vol. 71, No. 134 / Thursday, July 13, 2006 / Rules and Regulations
as applicable, the provisions of Office of
Management and Budget Circular A–
102, Attachments F and G and 7 CFR
part 3015, subparts G and H’’ and
adding in their place the words ‘‘the
provisions of 7 CFR part 3016’’;
I b. Amend the first sentence of
paragraph (b)(5)(v) by removing the
words ‘‘7 CFR part 3015, subpart L’’ and
adding in their place the words ‘‘7 CFR
part 3016’’; and
I c. Amend paragraph (d) by removing
the words ‘‘the Department’s Uniform
Federal Assistance Regulations, 7 CFR
part 3015 subpart N’’ and adding in
their place the words ‘‘7 CFR part
3016’’.
Dated: July 5, 2006.
Roberto Salazar,
Administrator, Food and Nutrition Service.
[FR Doc. 06–6185 Filed 7–12–06; 8:45 am]
BILLING CODE 3410–30–P
NUCLEAR REGULATORY
COMMISSION
10 CFR Part 72
RIN 3150–AH93
List of Approved Spent Fuel Storage
Casks: NUHOMSHD Addition;
Withdrawal of Direct Final Rule
U.S. Nuclear Regulatory
Commission.
ACTION: Direct final rule; withdrawal.
wwhite on PROD1PC61 with RULES
AGENCY:
17:17 Jul 12, 2006
Jkt 208001
Dated at Rockville, Maryland, this 28th day
of June, 2006.
For the Nuclear Regulatory Commission.
Luis A. Reyes,
Executive Director for Operations.
[FR Doc. E6–11027 Filed 7–12–06; 8:45 am]
BILLING CODE 7590–01–P
FEDERAL RESERVE SYSTEM
12 CFR Part 201
SUMMARY: The U.S. Nuclear Regulatory
Commission (NRC) is withdrawing a
direct final rule that would have added
the Transnuclear, Inc., NUHOMSHD
cask system to the ‘‘List of Approved
Spent Fuel Storage Casks’’ to add
Certificate of Compliance No. 1030. The
NRC is taking this action because it has
received significant adverse comments
in response to an identical proposed
rule which was concurrently published
with the direct final rule.
DATES: The final rule published on May
2, 2006 (71 FR 25740) is withdrawn
effective July 13, 2006.
FOR FURTHER INFORMATION CONTACT:
Jayne M. McCausland, Office of Nuclear
Material Safety and Safeguards, U.S.
Nuclear Regulatory Commission,
Washington, DC 20555, telephone (301)
415–6219 (e-mail: jmm2@nrc.gov).
SUPPLEMENTARY INFORMATION: On May 2,
2006 (71 FR 25740), the NRC published
in the Federal Register a direct final
rule amending its regulations in 10 CFR
72.214 to add the Transnuclear, Inc.,
NUHOMS HD cask system listing
within the ‘‘List of Approved Spent Fuel
Storage Casks’’ to add Certificate of
VerDate Aug<31>2005
Compliance No. 1030. Holders of power
reactor operating licenses would have
been allowed to store spent fuel in the
NUHOMSHD cask system under a
general license. The direct final rule was
to become effective on July 17, 2006.
The NRC also concurrently published
an identical proposed rule on May 2,
2006 (71 FR 25782).
In the May 2, 2006, direct final rule,
NRC stated that if any significant
adverse comments were received, a
notice of timely withdrawal of the direct
final rule would be published in the
Federal Register. As a result, the direct
final rule would not take effect.
The NRC received significant adverse
comments on the direct final rule;
therefore, the NRC is withdrawing the
direct final rule. As stated in the May 2,
2006, direct final rule, NRC will address
the comments received on the May 2,
2006, companion proposed rule in a
subsequent final rule. The NRC will not
initiate a second comment period on
this action.
[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 July 13,
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.
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
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 6.00
percent to 6.25 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 6.50 percent to 6.75
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 5.00 percent to
5.25 percent) approved by the Federal
Open Market Committee (Committee)
and announced at the same time. A
press release announcing these actions
indicated that:
SUPPLEMENTARY INFORMATION:
Recent indicators suggest that economic
growth is moderating from its quite strong
pace earlier this year, partly reflecting a
gradual cooling of the housing market and
the lagged effects of increases in interest rates
and energy prices.
Readings on core inflation have been
elevated in recent months. Ongoing
productivity gains have held down the rise
in unit labor costs, and inflation expectations
remain contained. However, the high levels
of resource utilization and of the prices of
energy and other commodities have the
potential to sustain inflation pressures.
Although the moderation in the growth of
aggregate demand should help to limit
inflation pressures over time, the Committee
judges that some inflation risks remain. The
extent and timing of any additional firming
that may be needed to address these risks
will depend on the evolution of the outlook
for both inflation and economic growth, as
implied by incoming information. In any
event, the Committee will respond to changes
in economic prospects as needed to support
the attainment of its objectives.
Regulatory Flexibility Act Certification
Pursuant to the Regulatory Flexibility
Act (5 U.S.C. 605(b)), the Board certifies
E:\FR\FM\13JYR1.SGM
13JYR1
Federal Register / Vol. 71, No. 134 / Thursday, July 13, 2006 / Rules and Regulations
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.
Federal Reserve
Bank
Rate
Minneapolis ...........
Kansas City ...........
Dallas .....................
San Francisco .......
6.25
6.25
6.25
6.25
Effective
June 29, 2006.
July 6, 2006.
June 29, 2006.
June 29, 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 .......
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
6.75
Effective
June 29, 2006.
June 29, 2006.
June 29, 2006.
June 29, 2006.
June 29, 2006.
June 29, 2006.
June 29, 2006.
June 30, 2006.
June 29, 2006.
July 6, 2006.
June 29, 2006.
June 29, 2006.
For the reasons set forth in the
preamble, the Board is amending 12
CFR chapter II to read as follows:
I
PART 201—EXTENSIONS OF CREDIT
BY FEDERAL RESERVE BANKS
(REGULATION A)
SUPPLEMENTARY INFORMATION:
*
*
DEPARTMENT OF TRANSPORTATION
Authority: 12 U.S.C. 248(i)–(j), 343 et seq.,
347a, 347b, 347c, 348 et seq., 357, 374, 374a,
and 461.
14 CFR Part 39
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:
wwhite on PROD1PC61 with RULES
Effective
June
June
June
June
June
June
June
June
29,
29,
29,
29,
29,
29,
29,
30,
2006.
2006.
2006.
2006.
2006.
2006.
2006.
2006.
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
17:17 Jul 12, 2006
Jkt 208001
The AD docket contains the
proposed AD, comments, and any final
disposition. You may examine the 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
the plaza level of the Nassif Building at
the U.S. Department of Transportation,
400 Seventh Street, SW., Room PL–401,
Washington, DC. This docket number is
FAA–2006–25175; the directorate
identifier for this docket is 2006–NM–
099–AD.
ADDRESSES:
By order of the Board of Governors of the
Federal Reserve System, July 7, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6–11013 Filed 7–12–06; 8:45 am]
*
Federal Aviation Administration
6.25
6.25
6.25
6.25
6.25
6.25
6.25
6.25
Effective July 13, 2006.
Jon
Hjelm, Aerospace Engineer, Airframe
and Propulsion Branch, ANE–171, FAA,
New York Aircraft Certification Office,
1600 Stewart Avenue, Suite 410,
Westbury, New York 11590; telephone
(516) 228–7323; fax (516) 794–5531.
*
1. The authority citation for part 201
continues to read as follows:
Boston ...................
New York ...............
Philadelphia ...........
Cleveland ...............
Richmond ..............
Atlanta ...................
Chicago .................
St. Louis ................
DATES:
FOR FURTHER INFORMATION CONTACT:
*
I
Rate
venting and draining of the auxiliary
fuel tank sumps, and revising the
Limitations section of the airplane flight
manual to limit the maximum cargo
weight.
BILLING CODE 6210–02–P
Authority and Issuance
Federal Reserve
Bank
39521
[Docket No. FAA–2006–25175; Directorate
Identifier 2006–NM–099–AD; Amendment
39–14670; AD 2006–13–17]
RIN 2120–AA64
Airworthiness Directives; Boeing
Model 757–200 Series Airplanes
Modified by Supplemental Type
Certificate (STC) SA979NE
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
ACTION: Final rule; correction.
AGENCY:
The FAA is correcting a
typographical error in an existing
airworthiness directive (AD) that was
published in the Federal Register on
June 28, 2006 (71 FR 36671). The error
resulted in the misidentification of the
manufacturer name in the product
identification line of the regulatory text.
This AD applies to certain Boeing
Model 757–200 series airplanes. This
AD requires a one-time deactivation of
the auxiliary fuel system, repetitive
SUMMARY:
PO 00000
Frm 00009
Fmt 4700
Sfmt 4700
On June
15, 2006, the FAA issued AD 2006–13–
17, amendment 39–14670 (71 FR 36671,
June 28, 2006), for certain Boeing Model
757–200 series airplanes. The AD
requires a one-time deactivation of the
auxiliary fuel system, repetitive venting
and draining of the auxiliary fuel tank
sumps, and revising the Limitations
section of the airplane flight manual to
limit the maximum cargo weight.
As published, the manufacturer name
is misidentified in the product
identification line of the regulatory text.
No other part of the regulatory
information has been changed;
therefore, the final rule is not
republished in the Federal Register.
The effective date of this AD remains
July 13, 2006.
§ 39.13
[Corrected]
I In the Federal Register of June 28,
2006, on page 36673, in the second
column, the product identification line
of AD 2006–13–17 is corrected to read
as follows:
*
*
*
*
*
2006–13–17 Boeing: Amendment 39–14670.
Docket No. FAA–2006–25175;
Directorate Identifier 2006–NM–099–AD.
*
E:\FR\FM\13JYR1.SGM
*
*
13JYR1
*
*
]]>Agencies
[Federal Register Volume 71, Number 134 (Thursday, July 13, 2006)]
[Rules and Regulations]
[Pages 39520-39521]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-11013]
=======================================================================
-----------------------------------------------------------------------
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 July 13,
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 6.00 percent to 6.25
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 6.50 percent to 6.75
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 5.00 percent to 5.25 percent) approved by the Federal Open
Market Committee (Committee) and announced at the same time. A press
release announcing these actions indicated that:
Recent indicators suggest that economic growth is moderating
from its quite strong pace earlier this year, partly reflecting a
gradual cooling of the housing market and the lagged effects of
increases in interest rates and energy prices.
Readings on core inflation have been elevated in recent months.
Ongoing productivity gains have held down the rise in unit labor
costs, and inflation expectations remain contained. However, the
high levels of resource utilization and of the prices of energy and
other commodities have the potential to sustain inflation pressures.
Although the moderation in the growth of aggregate demand should
help to limit inflation pressures over time, the Committee judges
that some inflation risks remain. The extent and timing of any
additional firming that may be needed to address these risks will
depend on the evolution of the outlook for both inflation and
economic growth, as implied by incoming information. In any event,
the Committee will respond to changes in economic prospects as
needed to support the attainment of its objectives.
Regulatory Flexibility Act Certification
Pursuant to the Regulatory Flexibility Act (5 U.S.C. 605(b)), the
Board certifies
[[Page 39521]]
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:
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.............................. 6.25 June 29, 2006.
New York............................ 6.25 June 29, 2006.
Philadelphia........................ 6.25 June 29, 2006.
Cleveland........................... 6.25 June 29, 2006.
Richmond............................ 6.25 June 29, 2006.
Atlanta............................. 6.25 June 29, 2006.
Chicago............................. 6.25 June 29, 2006.
St. Louis........................... 6.25 June 30, 2006.
Minneapolis......................... 6.25 June 29, 2006.
Kansas City......................... 6.25 July 6, 2006.
Dallas.............................. 6.25 June 29, 2006.
San Francisco....................... 6.25 June 29, 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.............................. 6.75 June 29, 2006.
New York............................ 6.75 June 29, 2006.
Philadelphia........................ 6.75 June 29, 2006.
Cleveland........................... 6.75 June 29, 2006.
Richmond............................ 6.75 June 29, 2006.
Atlanta............................. 6.75 June 29, 2006.
Chicago............................. 6.75 June 29, 2006.
St. Louis........................... 6.75 June 30, 2006.
Minneapolis......................... 6.75 June 29, 2006.
Kansas City......................... 6.75 July 6, 2006.
Dallas.............................. 6.75 June 29, 2006.
San Francisco....................... 6.75 June 29, 2006.
------------------------------------------------------------------------
* * * * *
By order of the Board of Governors of the Federal Reserve
System, July 7, 2006.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E6-11013 Filed 7-12-06; 8:45 am]
BILLING CODE 6210-02-P
