Availability of Funds and Collection of Checks, 34596-34597 [E7-12194]

Download as PDF 34596 Federal Register / Vol. 72, No. 121 / Monday, June 25, 2007 / Rules and Regulations This action amends the Mexican fruit fly regulations by removing a portion of Webb County, TX, from the list of quarantined areas. The Regulatory Flexibility Act requires that agencies consider the economic impact of their rules on small entities. The Small Business Administration (SBA) has established size standards for determining which economic entities meet the definition of a small firm. The SBA classifies entities that would normally be affected by a quarantine for the Mexican fruit fly, growers of oranges (NAICS category 111310), citrus (except orange) groves (NAICS category 111320), apple orchards (NAICS category 111331), and other non-citrus farming (NAICS category 111339), as small businesses if their annual receipts are $750,000 or less. Any infestation by Mexican fruit fly could result in an increase in producer costs for pesticides and their application and a reduction in production and revenue. However, according to the 2002 Census of Agriculture, there were no commercial farms growing these commodities in Webb County, TX. County records indicate there are approximately 1 airport, 4 bus terminals, 2 cargo freight forwarders, 2 distributors, 1 food bank, 2 nurseries, and 128 fruit sellers within the area that may be affected by this rule. We expect that any small entities located within the area that sell regulated articles do so primarily for local intrastate, not interstate, movement, so the effect, if any, of this rule on these entities appears to be minimal. The effect on any small entities that may move regulated articles interstate has been minimized by the availability of various treatments that, in most cases, allow these small entities to move regulated articles interstate with very little additional cost. Thus, just as the previous interim rule establishing the quarantined area in Webb County, TX, had little effect on the small entities in the area, the lifting of the quarantine in the current interim rule will also have little effect. Under these circumstances, the Administrator of the Animal and Plant Health Inspection Service has determined that this action will not have a significant economic impact on a substantial number of small entities. pwalker on PROD1PC71 with RULES Executive Order 12372 This program/activity is listed in the Catalog of Federal Domestic Assistance under No. 10.025 and is subject to Executive Order 12372, which requires intergovernmental consultation with VerDate Aug<31>2005 16:34 Jun 22, 2007 Jkt 211001 State and local officials. (See 7 CFR part 3015, subpart V.) Executive Order 12988 This rule has been reviewed under executive Order 12988, Civil Justice Reform. This rule: (1) Preempts all State and local laws and regulations that are inconsistent with this rule; (2) has no retroactive effect; and (3) does not require administrative proceedings before parties may file suit in court challenging this rule. Paperwork Reduction Act This interim rule contains no information collection or recordkeeping requirements under the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.). List of Subjects in 7 CFR Part 301 Agricultural commodities, Plant diseases and pests, Quarantine, Reporting and recordkeeping requirements, Transportation. I Accordingly, we are amending 7 CFR part 301 as follows: PART 301—DOMESTIC QUARANTINE NOTICES 1. The authority citation for part 301 continues to read as follows: I Authority: 7 U.S.C. 7701–7772 and 7781– 7786; 7 CFR 2.22, 2.80, and 371.3. Section 301.75–15 issued under Sec. 204, Title II, Public Law 106–113, 113 Stat. 1501A–293; sections 301.75–15 and 301.75– 16 issued under Sec. 203, Title II, Public Law 106–224, 114 Stat. 400 (7 U.S.C. 1421 note). § 301.64–3 [Amended] 2. In § 301.64–3, paragraph (c) is amended by removing, under the heading ‘‘TEXAS’’, the entry for Webb County. I Done in Washington, DC, this 18th day of June 2007. Kevin Shea, Acting Administrator, Animal and Plant Health Inspection Service. [FR Doc. E7–12231 Filed 6–22–07; 8:45 am] BILLING CODE 3410–34–P FEDERAL RESERVE SYSTEM 12 CFR Part 229 [Regulation CC; Docket No. R–1289] Availability of Funds and Collection of Checks Board of Governors of the Federal Reserve System. ACTION: Final rule; technical amendment. AGENCY: PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 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 San Francisco and reassign the Federal Reserve routing symbols currently listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco. 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 August 18, 2007. FOR FURTHER INFORMATION CONTACT: Jack K. Walton II, Associate Director (202/ 452–2660), or Joseph P. Baressi, Financial Services Project Leader (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. 1 For purposes of Regulation CC, the term ‘‘bank’’ refers to any depository institution, including commercial banks, savings institutions, and credit unions. E:\FR\FM\25JNR1.SGM 25JNR1 Federal Register / Vol. 72, No. 121 / Monday, June 25, 2007 / Rules and Regulations As explained in the Board’s final rule published in the Federal Register on May 18, 2007, 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 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 San Francisco will cease processing checks on August 18, 2007. As of that date, banks with routing symbols currently assigned to the San Francisco head office for check processing purposes will be reassigned to the San Francisco Reserve Bank’s Los Angeles branch 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 Twelfth District check processing offices to conform to the transfer of operations from the San Francisco head office to the Los Angeles branch office. To coincide with the effective date of the underlying check processing changes, the amendments are effective August 18, 2007. 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 a similar notice at least sixty days prior to the elimination of check processing operations at the Helena branch office of the Federal Reserve Bank of pwalker on PROD1PC71 with RULES 2 See 72 FR 27951, May 18, 2007. 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 strive 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 http:// 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 16:34 Jun 22, 2007 Jkt 211001 Minneapolis, as described in the May 2007 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 ‘‘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 part 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 San Francisco and reassign the routing symbols listed under that office to the Los Angeles branch office of the Federal Reserve Bank of San Francisco. 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: I 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 Twelfth District routing symbol list in appendix A is revised to read as follows: I PO 00000 Frm 00003 Fmt 4700 Sfmt 4700 34597 Appendix A to PART 229—Routing Number Guide to Next-Day Availability Checks and Local Checks * * * * * Twelfth Federal Reserve District [Federal Reserve Bank of San Francisco] Los Angeles Branch 1210 3210 1211 3211 1212 3212 1213 3213 1220 3220 1221 3221 1222 3222 1223 3223 1224 3224 Seattle Branch 1230 3230 1231 3231 1232 3232 1233 3233 1250 3250 1251 3251 1252 3252 * * * * * By order of the Board of Governors of the Federal Reserve System, acting through the Secretary of the Board under delegated authority, June 20, 2007. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E7–12194 Filed 6–22–07; 8:45 am] BILLING CODE 6210–01–P SMALL BUSINESS ADMINISTRATION 13 CFR Part 115 RIN 3245–AF39 Surety Bond Guarantee ProgramPreferred Surety Qualification, Increased Guarantee for Veteran and Service-Disabled Veteran-Owned Business, Deadline for Payment of Guarantee Fees, Denial of Liability, and Technical Amendments U.S. Small Business Administration (SBA). ACTION: Final rule. AGENCY: SUMMARY: On September 26, 2006, SBA published a proposed rule in the Federal Register addressing six changes to the SBA Surety Bond Guarantee (SBG) Program in order to improve operation of the SBG program and make it easier for sureties and small business concerns to participate in the program. Specifically, this rules makes the following amendments to the program: (1) Gives effect to the statutory reduction in the frequency of audits required of Preferred Surety Bond (PSB) Sureties; (2) obligates SBA to guarantee 90 percent of the loss incurred by a Prior Approval Surety on bonds issued E:\FR\FM\25JNR1.SGM 25JNR1

Agencies

[Federal Register Volume 72, Number 121 (Monday, June 25, 2007)]
[Rules and Regulations]
[Pages 34596-34597]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12194]


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FEDERAL RESERVE SYSTEM

12 CFR Part 229

[Regulation CC; Docket No. R-1289]


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 San Francisco and reassign the Federal Reserve routing symbols 
currently listed under that office to the Los Angeles branch office of 
the Federal Reserve Bank of San Francisco. 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 August 18, 2007.

FOR FURTHER INFORMATION CONTACT: Jack K. Walton II, Associate Director 
(202/452-2660), or Joseph P. Baressi, Financial Services Project Leader 
(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.

[[Page 34597]]

    As explained in the Board's final rule published in the Federal 
Register on May 18, 2007, 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 amendments set forth in this notice are such 
final rules.\3\
---------------------------------------------------------------------------

    \2\ See 72 FR 27951, May 18, 2007.
    \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 strive 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 http://www.frbservices.org.
---------------------------------------------------------------------------

    As part of the restructuring process, the head office of the 
Federal Reserve Bank of San Francisco will cease processing checks on 
August 18, 2007. As of that date, banks with routing symbols currently 
assigned to the San Francisco head office for check processing purposes 
will be reassigned to the San Francisco Reserve Bank's Los Angeles 
branch 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 
Twelfth District check processing offices to conform to the transfer of 
operations from the San Francisco head office to the Los Angeles branch 
office. To coincide with the effective date of the underlying check 
processing changes, the amendments are effective August 18, 2007. 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 a similar notice at least sixty days prior to the elimination 
of check processing operations at the Helena branch office of the 
Federal Reserve Bank of Minneapolis, as described in the May 2007 
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 part 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 San Francisco and reassign the routing symbols listed under 
that office to the Los Angeles branch office of the Federal Reserve 
Bank of San Francisco. 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

0
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 Twelfth 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

* * * * *

Twelfth Federal Reserve District

[Federal Reserve Bank of San Francisco]

Los Angeles Branch

1210 3210
1211 3211
1212 3212
1213 3213
1220 3220
1221 3221
1222 3222
1223 3223
1224 3224

Seattle Branch

1230 3230
1231 3231
1232 3232
1233 3233
1250 3250
1251 3251
1252 3252
* * * * *

    By order of the Board of Governors of the Federal Reserve 
System, acting through the Secretary of the Board under delegated 
authority, June 20, 2007.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E7-12194 Filed 6-22-07; 8:45 am]
BILLING CODE 6210-01-P