Sale and Issue of Marketable Book-Entry Treasury Bills, Notes and Bonds-Securities Eligible for Purchase in Legacy Treasury Direct, 2192-2193 [07-209]

Download as PDF 2192 Federal Register / Vol. 72, No. 11 / Thursday, January 18, 2007 / Rules and Regulations subsection, the Judge shall issue a decision that constitutes the Judge’s final disposition of the proceedings. The decision shall be in writing and shall include all findings of fact and conclusions of law, and the reasons or bases for them, on all the material issues of fact, law or discretion presented by the record, and an order. The parties shall be notified of the Judge’s decision by the most expeditious means reasonably available. Service of the decision shall be by certified or registered mail, return receipt requested. (2) Stay of plan provision. Notwithstanding § 2700.69(b), a Judge shall retain jurisdiction over a request for a stay in an emergency response plan dispute proceeding. Within two business days following service of the decision, the operator may file with the judge a request to stay the inclusion of the disputed provision in the plan during the pendency of an appeal to the Commission pursuant to paragraph (g) of this section. The Secretary shall respond to the operator’s motion within two business days following service of the motion. The judge shall issue an order granting or denying the relief sought within two business days after the filing of the Secretary’s response. (g) Review of decision. Any party may seek review of a Judge’s decision, including the Judge’s order granting or denying a stay, by filing with the Commission a petition for discretionary review pursuant to § 2700.70. Neither an operator’s request for a stay nor the issuance of an order addressing the stay request affects the time limits for filing a petition for discretionary review of a Judge’s decision with the Commission under this subparagraph. The Commission shall act upon a petition on an expedited basis. If review is granted, the Commission shall issue a briefing order. Except as otherwise ordered or provided for herein, the provisions of § 2700.75 apply. The Commission will not grant motions for extension of time for filing briefs, except under extraordinary circumstances. 6. Section 2700.69 is amended by revising paragraph (b) to read as follows: I § 2700.69 Decision of the Judge. jlentini on PROD1PC65 with RULES * * * * * (b) Termination of the Judge’s jurisdiction. Except to the extent otherwise provided herein, the jurisdiction of the Judge terminates when his decision has been issued. * * * * * VerDate Aug<31>2005 16:35 Jan 17, 2007 Jkt 211001 Dated: January 11, 2007. Michael F. Duffy, Chairman, Federal Mine Safety and Health Review Commission. [FR Doc. E7–557 Filed 1–17–07; 8:45 am] BILLING CODE 6735–01–P DEPARTMENT OF THE TREASURY Fiscal Service 31 CFR Part 356 [Docket No. BPD GSRS 06–03] Sale and Issue of Marketable BookEntry Treasury Bills, Notes and Bonds—Securities Eligible for Purchase in Legacy Treasury Direct Bureau of the Public Debt, Fiscal Service, Treasury. ACTION: Final rule. AGENCY: SUMMARY: This final rule provides that the Department of the Treasury may announce that certain marketable Treasury securities to be offered will not be eligible for purchase or holding in the Legacy Treasury Direct system. Treasury is issuing this amendment to the auction rules because the Legacy Treasury Direct system will eventually be phased out. DATES: Effective January 18, 2007. ADDRESSES: You may download this final rule from the Bureau of the Public Debt’s Web site at http:// www.treasurydirect.gov or from the Electronic Code of Federal Regulations (e-CFR) Web site at http:// www.gpoaccess.gov/ecfr. It is also available for public inspection and copying at the Treasury Department Library, Room 1428, Main Treasury Building, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. To visit the library, call (202) 622–0990 for an appointment. Lori Santamorena (Executive Director) or Chuck Andreatta (Associate Director), Bureau of the Public Debt, Government Securities Regulations Staff, (202) 504– 3632 or e-mail us at govsecreg@bpd.treas.gov. FOR FURTHER INFORMATION CONTACT: The Uniform Offering Circular (‘‘UOC’’), in conjunction with the announcement for each auction, provides the terms and conditions for the sale and issuance in an auction to the public of marketable Treasury bills, notes and bonds.1 There SUPPLEMENTARY INFORMATION: 1 The Uniform Offering Circular was published as a final rule on January 5, 1993 (58 FR 412). The circular, as amended, is codified at 31 CFR part 356. A final rule converting the UOC to plain language PO 00000 Frm 00026 Fmt 4700 Sfmt 4700 are three book-entry securities systems—the commercial book-entry system, TreasuryDirect , and Legacy Treasury Direct —into which we issue marketable Treasury securities.2 The current UOC generally authorizes purchases of all types of marketable Treasury securities in any of the three book-entry systems. The Legacy Treasury Direct system, which was implemented in 1986, will eventually be phased out, leaving only the newer, online TreasuryDirect system as the system for purchasing marketable Treasury securities directly on the records of the Bureau of the Public Debt, Department of the Treasury.3 The commercial book-entry system will remain an option for all securities for those investors who want to purchase and hold their securities through a depository institution or dealer. As we begin phasing out Legacy Treasury Direct, we plan to discontinue the practice of generally allowing all marketable Treasury securities being offered by Treasury to be purchased and held in this system. This final rule amendment states explicitly that we may announce that certain marketable securities to be offered will not be eligible for purchase or holding in Legacy Treasury Direct. Any such restriction will be included in that security’s offering announcement. This change will not affect any outstanding securities currently held in Legacy Treasury Direct. Procedural Requirements This final rule is not a significant regulatory action for purposes of Executive Order 12866. The notice and public procedures and delayed effective date requirements of the Administrative Procedure Act do not apply, under 5 U.S.C. 533(a)(2). Since a notice of proposed rulemaking is not required, the provisions of the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) do not apply. The Office of Management and Budget previously approved the collections of information in this final amendment in accordance with the Paperwork Reduction Act under control number and making certain other minor changes was published in the Federal Register on July 28, 2004 (69 FR 45202). 2 On September 30, 2005, Treasury issued a final amendment to the UOC to make the changes necessary to accommodate participation in Treasury marketable auctions for securities to be held in either the TreasuryDirect or the Legacy Treasury Direct system (70 FR 57347). 3 Legacy Treasury Direct was called TreasuryDirect from 1986 to 2005. The regulations for Legacy Treasury Direct are found at 31 CFR part 357. The regulations for TreasuryDirect are found at 31 CFR part 363. E:\FR\FM\18JAR1.SGM 18JAR1 Federal Register / Vol. 72, No. 11 / Thursday, January 18, 2007 / Rules and Regulations 1535–0112. We are not making substantive changes to these requirements that would impose additional burdens on auction bidders. ENVIRONMENTAL PROTECTION AGENCY List of Subjects in 31 CFR Part 356 [EPA–HQ–OAR–2005–0124; FRL–8270–6] Bonds, Federal Reserve System, Government Securities, Securities. RIN 2060–AN34 For the reasons stated in the preamble, 31 CFR part 356 is amended as follows: I PART 356—SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, NOTES, AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR PUBLIC DEBT SERIES NO. 1–93) 1. The authority citation for part 356 continues to read as follows: I Authority: 5 U.S.C. 301; 31 U.S.C. 3102 et seq.; 12 U.S.C. 391. 2. Amend § 356.4 by revising the introductory paragraph and paragraph (c) to read as follows: I § 356.4 What are the book-entry systems in which auctioned Treasury securities may be issued? jlentini on PROD1PC65 with RULES There are three book-entry securities systems—the commercial book-entry system, TreasuryDirect, and legacy Treasury Direct—into which we issue marketable Treasury securities. We may obtain and transfer securities in these three book-entry systems at their par amount. Par amounts of Treasury inflation-protected securities do not include adjustments for inflation. Securities may be transferred from one system to the other, unless the securities are not eligible to be held in the receiving system. See Department of the Treasury Circular, Public Debt Series No. 2–86, as amended (part 357 of this chapter) and part 363 of this chapter. * * * * * (c) Legacy Treasury Direct. In this system, we maintain the book-entry securities of account holders directly on the records of the Bureau of the Public Debt, Department of the Treasury. Bids for securities to beheld in Legacy Treasury Direct are generally submitted directly to us, although such bids may also be forwarded to us by a depository institution or dealer. From time to time, Treasury may announce that certain securities to be offered will not be eligible for purchase or holding in Legacy Treasury Direct. Dated: January 12, 2007. Donald V. Hammond, Fiscal Assistant Security. [FR Doc. 07–209 Filed 1–16–07; 1:47 pm] BILLING CODE 4810–39–M VerDate Aug<31>2005 16:35 Jan 17, 2007 Jkt 211001 40 CFR Part 51 Air Quality: Revision to Definition of Volatile Organic Compounds— Exclusion of HFE–7300 Environmental Protection Agency (EPA). ACTION: Final rule. AGENCY: This action revises EPA’s definition of volatile organic compounds (VOC) for purposes of preparing State implementation plans (SIPs) to attain the national ambient air quality standards (NAAQS) for ozone under title I of the Clean Air Act (CAA). This revision would add 1,1,1,2,2,3,4,5,5,5-decafluoro-3methoxy-4-trifluoromethyl-pentane [also known as HFE–7300 or L–14787 or C2F5CF(OCH3)CF(CF3)2] to the list of compounds excluded from the definition of VOC on the basis that this compound makes a negligible contribution to tropospheric ozone formation. If you use or produce HFE– 7300 and are subject to EPA regulations limiting the use of VOC in your product, limiting the VOC emissions from your facility, or otherwise controlling your use of VOC for purposes related to attaining the ozone NAAQS, then you will not count HFE–7300 as a VOC in determining whether you meet these regulatory obligations. This action may also affect whether HFE–7300 is considered as a VOC for State regulatory purposes, depending on whether the State relies on EPA’s definition of VOC. As a result, if you are subject to certain Federal regulations limiting emissions of VOCs, your emissions of HFE–7300 may not be regulated for some purposes. DATES: This final rule is effective on January 18, 2007. ADDRESSES: The EPA has established a docket for this action under Docket ID No. EPA–HQ–OAR–2005–0124. All documents in the docket are listed on the www.regulations.gov Web site. Although listed in the index, some information is not publicly available, e.g., CBI or other information whose disclosure is restricted by statute. Certain other material, such as copyrighted material, is not placed on the Internet and will be publicly available only in hard copy form. Publicly available docket materials are available either electronically through www.regulations.gov or in hard copy at the EPA Docket Center, EPA/DC, EPA SUMMARY: PO 00000 Frm 00027 Fmt 4700 Sfmt 4700 2193 West, Room 3334, 1301 Constitution Ave., NW., Washington, DC. The Public Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal holidays. The telephone number for the Public Reading Room is (202) 566–1744, and the telephone number for the Air Docket is (202) 566– 1742. FOR FURTHER INFORMATION CONTACT: David Sanders, Office of Air Quality Planning and Standards, Air Quality Strategies and Standards Division (C539–02), Research Triangle Park, NC 27711; telephone (919) 541–3356; fax number (919) 541–0824; or by e-mail at sanders.dave@epa.gov. SUPPLEMENTARY INFORMATION: I. General Information A. Does This Action Apply to Me? This action applies to you if you are a State that regulates VOC emissions as precursors to ozone formation or if you produce or use HFE–7300 or other compounds for which HFE–7300 may substitute. HFE–7300 has a variety of potential uses including as a heattransfer fluid and substitute for ozone depleting substances and substances with high global warming potentials, such as hydroflurocarbons, perfluorocarbons, and perfluoropolyethers. HFE–7300 may be used in azeotropic mixtures for use in coating deposition, cleaning, and lubricating applications. II. Background Tropospheric ozone, commonly known as smog, occurs when VOC and nitrogen oxides (NOX) react in the atmosphere. Because of the harmful health effects of ozone, EPA and State governments limit the amount of VOC and NOX that can be released into the atmosphere. The VOC’s are those compounds of carbon (excluding carbon monoxide, carbon dioxide, carbonic acid, metallic carbides or carbonates, and ammonium carbonate) which form ozone through atmospheric photochemical reactions. Compounds of carbon (also known as organic compounds) have different levels of reactivity—that is, they do not react at the same speed or do not form ozone to the same extent. It has been EPA’s policy that organic compounds with a negligible level of reactivity need not be regulated to reduce ozone. The EPA determines whether a given organic compound has ‘‘negligible’’ reactivity by comparing the compound’s reactivity to the reactivity of ethane. The EPA lists these compounds in its regulations (at 40 CFR 51.100(s)) and excludes them from the definition of VOC. The E:\FR\FM\18JAR1.SGM 18JAR1

Agencies

[Federal Register Volume 72, Number 11 (Thursday, January 18, 2007)]
[Rules and Regulations]
[Pages 2192-2193]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-209]


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DEPARTMENT OF THE TREASURY

Fiscal Service

31 CFR Part 356

[Docket No. BPD GSRS 06-03]


Sale and Issue of Marketable Book-Entry Treasury Bills, Notes and 
Bonds--Securities Eligible for Purchase in Legacy Treasury Direct

AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This final rule provides that the Department of the Treasury 
may announce that certain marketable Treasury securities to be offered 
will not be eligible for purchase or holding in the Legacy Treasury 
Direct system. Treasury is issuing this amendment to the auction rules 
because the Legacy Treasury Direct system will eventually be phased 
out.

DATES: Effective January 18, 2007.

ADDRESSES: You may download this final rule from the Bureau of the 
Public Debt's Web site at http://www.treasurydirect.gov or from the 
Electronic Code of Federal Regulations (e-CFR) Web site at http://
www.gpoaccess.gov/ecfr. It is also available for public inspection and 
copying at the Treasury Department Library, Room 1428, Main Treasury 
Building, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. To visit 
the library, call (202) 622-0990 for an appointment.

FOR FURTHER INFORMATION CONTACT: Lori Santamorena (Executive Director) 
or Chuck Andreatta (Associate Director), Bureau of the Public Debt, 
Government Securities Regulations Staff, (202) 504-3632 or e-mail us at 
govsecreg@bpd.treas.gov.

SUPPLEMENTARY INFORMATION: The Uniform Offering Circular (``UOC''), in 
conjunction with the announcement for each auction, provides the terms 
and conditions for the sale and issuance in an auction to the public of 
marketable Treasury bills, notes and bonds.\1\ There are three book-
entry securities systems--the commercial book-entry system, 
TreasuryDirect [supreg], and Legacy Treasury Direct [supreg]--into 
which we issue marketable Treasury securities.\2\ The current UOC 
generally authorizes purchases of all types of marketable Treasury 
securities in any of the three book-entry systems. The Legacy Treasury 
Direct system, which was implemented in 1986, will eventually be phased 
out, leaving only the newer, on-line TreasuryDirect system as the 
system for purchasing marketable Treasury securities directly on the 
records of the Bureau of the Public Debt, Department of the 
Treasury.\3\ The commercial book-entry system will remain an option for 
all securities for those investors who want to purchase and hold their 
securities through a depository institution or dealer.
---------------------------------------------------------------------------

    \1\ The Uniform Offering Circular was published as a final rule 
on January 5, 1993 (58 FR 412). The circular, as amended, is 
codified at 31 CFR part 356. A final rule converting the UOC to 
plain language and making certain other minor changes was published 
in the Federal Register on July 28, 2004 (69 FR 45202).
    \2\ On September 30, 2005, Treasury issued a final amendment to 
the UOC to make the changes necessary to accommodate participation 
in Treasury marketable auctions for securities to be held in either 
the TreasuryDirect or the Legacy Treasury Direct system (70 FR 
57347).
    \3\ Legacy Treasury Direct was called TreasuryDirect from 1986 
to 2005. The regulations for Legacy Treasury Direct are found at 31 
CFR part 357. The regulations for TreasuryDirect are found at 31 CFR 
part 363.
---------------------------------------------------------------------------

    As we begin phasing out Legacy Treasury Direct, we plan to 
discontinue the practice of generally allowing all marketable Treasury 
securities being offered by Treasury to be purchased and held in this 
system. This final rule amendment states explicitly that we may 
announce that certain marketable securities to be offered will not be 
eligible for purchase or holding in Legacy Treasury Direct. Any such 
restriction will be included in that security's offering announcement. 
This change will not affect any outstanding securities currently held 
in Legacy Treasury Direct.

Procedural Requirements

    This final rule is not a significant regulatory action for purposes 
of Executive Order 12866. The notice and public procedures and delayed 
effective date requirements of the Administrative Procedure Act do not 
apply, under 5 U.S.C. 533(a)(2).
    Since a notice of proposed rulemaking is not required, the 
provisions of the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) do 
not apply.
    The Office of Management and Budget previously approved the 
collections of information in this final amendment in accordance with 
the Paperwork Reduction Act under control number

[[Page 2193]]

1535-0112. We are not making substantive changes to these requirements 
that would impose additional burdens on auction bidders.

 List of Subjects in 31 CFR Part 356

    Bonds, Federal Reserve System, Government Securities, Securities.

0
For the reasons stated in the preamble, 31 CFR part 356 is amended as 
follows:

PART 356--SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, 
NOTES, AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR PUBLIC DEBT 
SERIES NO. 1-93)

0
1. The authority citation for part 356 continues to read as follows:

    Authority: 5 U.S.C. 301; 31 U.S.C. 3102 et seq.; 12 U.S.C. 391.


0
2. Amend Sec.  356.4 by revising the introductory paragraph and 
paragraph (c) to read as follows:


Sec.  356.4   What are the book-entry systems in which auctioned 
Treasury securities may be issued?

    There are three book-entry securities systems--the commercial book-
entry system, TreasuryDirect[supreg], and legacy Treasury 
Direct[supreg]--into which we issue marketable Treasury securities. We 
may obtain and transfer securities in these three book-entry systems at 
their par amount. Par amounts of Treasury inflation-protected 
securities do not include adjustments for inflation. Securities may be 
transferred from one system to the other, unless the securities are not 
eligible to be held in the receiving system. See Department of the 
Treasury Circular, Public Debt Series No. 2-86, as amended (part 357 of 
this chapter) and part 363 of this chapter.
* * * * *
    (c) Legacy Treasury Direct. In this system, we maintain the book-
entry securities of account holders directly on the records of the 
Bureau of the Public Debt, Department of the Treasury. Bids for 
securities to beheld in Legacy Treasury Direct are generally submitted 
directly to us, although such bids may also be forwarded to us by a 
depository institution or dealer. From time to time, Treasury may 
announce that certain securities to be offered will not be eligible for 
purchase or holding in Legacy Treasury Direct.

    Dated: January 12, 2007.
Donald V. Hammond,
Fiscal Assistant Security.
[FR Doc. 07-209 Filed 1-16-07; 1:47 pm]
BILLING CODE 4810-39-M