Extensions of Credit by Federal Reserve Banks, 54813-54815 [E7-19062]
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54813
Rules and Regulations
Federal Register
Vol. 72, No. 187
Thursday, September 27, 2007
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
DEPARTMENT OF HOMELAND
SECURITY
Correction of Publication
[CIS No. 2424–07; DHS Docket No. USCIS–
2007–0052]
RIN 1615–AB63
PART 103—POWERS AND DUTIES;
AVAILABILITY OF RECORDS
New Classification for Victims of
Criminal Activity; Eligibility for ‘‘U’’
Nonimmigrant Status; Correction
§ 103.7
U.S. Citizenship and
Immigration Services, DHS.
ACTION: Interim rule; correction.
SUMMARY: This document contains
corrections to the interim rule published
in the Federal Register on September
17, 2007. The rule established the
requirements and procedures for aliens
seeking U nonimmigrant status. A
review of the interim rule after
publication identified erroneous
references to filing fees for Form I–918,
‘‘Petition for U Nonimmigrant Status,’’
and Form I–918, Supplement A.
DATES: Effective Date: October 17, 2007.
FOR FURTHER INFORMATION CONTACT:
Laura Dawkins, U.S. Citizenship and
Immigration Services, Department of
Homeland Security, 20 Massachusetts
Avenue, NW., Room 2304, Washington,
DC 20529, telephone: (202) 272–8350.
SUPPLEMENTARY INFORMATION:
mstockstill on PROD1PC66 with RULES
Need for Correction
On September 17, 2007, U.S.
Citizenship and Immigration Services
(USCIS) published an interim rule at 72
FR 53014 establishing the requirements
and procedures for aliens seeking U
nonimmigrant status. The SUMMARY and
SUPPLEMENTARY INFORMATION sections of
the interim rule made contradictory
statements regarding whether there is a
filing fee for Form I–918, ‘‘Petition for
U Nonimmigrant Status,’’ and Form I–
918, Supplement A. The regulation text
itself contained an amendment to 8 CFR
Jkt 211001
[Corrected]
1. On page 53035, in the first column,
remove the part heading ‘‘PART 103—
POWERS AND DUTIES;
AVAILABILITY OF RECORDS’’.
I 2. On page 53035, in the first column,
remove the regulatory changes to part
103, by removing amendments 1 and 2.
I
AGENCY:
17:45 Sep 26, 2007
Accordingly, the publication on
September 17, 2007 (72 FR 53014) of the
interim rule that was the subject of FR
Doc. E7–17807 is corrected as follows:
I
8 CFR Parts 103 and 214
VerDate Aug<31>2005
103.7(b)(1) and language in new 8 CFR
214.14(c) reflecting that USCIS would
charge a filing fee for Form I–918 and
Form I–918, Supplement A. As correctly
stated in the Supplementary
Information (page 53031, third column,
paragraph D.), USCIS will charge no fee
for Forms I–918 and I–918, Supplement
A, but will charge the established fee for
biometric services for each person ages
14 through 79 inclusive with each U
nonimmigrant status petition.
PART 214—NONIMMIGRANT CLASSES
§ 214.14
[Corrected]
3. On page 53037, in the second
column, in paragraph (c)(1) introductory
text, in the eighth line, the phrase
‘‘applicable fees’’ should read
‘‘applicable biometric fee’’.
I
Dated: September 24, 2007.
Richard Sloan,
Chief, Regulatory Management Division,
Office of the Executive Secretariat, U.S.
Citizenship and Immigration Services.
[FR Doc. E7–19085 Filed 9–26–07; 8:45 am]
BILLING CODE 4410–10–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
PO 00000
Frm 00001
Fmt 4700
Sfmt 4700
adopted final amendments to its
Regulation A to reflect the Board’s
approval of a decrease in the primary
credit rate at each Federal Reserve Bank.
The secondary credit rate at each
Reserve Bank automatically decreased
by formula as a result of the Board’s
primary credit rate action.
DATES: The amendments to part 201
(Regulation A) are effective September
27, 2007. 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 decrease by 50 basis
points the primary credit rate in effect
at each of the twelve Federal Reserve
Banks, thereby decreasing from 5.75
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
decreased from 6.25 percent to 5.75
percent under the secondary credit rate
formula. The final amendments to
Regulation A reflect these rate changes.
The 50-basis-point decrease in the
primary credit rate was associated with
a similar decrease in the target for the
federal funds rate (from 5.25 percent to
4.75 percent) approved by the Federal
Open Market Committee (Committee)
and announced at the same time. A
press release announcing these actions
indicated that:
Economic growth was moderate during the
first half of the year, but the tightening of
E:\FR\FM\27SER1.SGM
27SER1
54814
Federal Register / Vol. 72, No. 187 / Thursday, September 27, 2007 / Rules and Regulations
credit conditions has the potential to
intensify the housing correction and to
restrain economic growth more generally.
Today’s action is intended to help forestall
some of the adverse effects on the broader
economy that might otherwise arise from the
disruptions in financial markets and to
promote moderate growth over time.
Readings on core inflation have improved
modestly this year. However, the Committee
judges that some inflation risks remain, and
it will continue to monitor inflation
developments carefully.
Developments in financial markets since
the Committee’s last regular meeting have
increased the uncertainty surrounding the
economic outlook. The Committee will
continue to assess the effects of these and
other developments on economic prospects
and will act as needed to foster price stability
and sustainable economic growth.
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
PART 201—EXTENSIONS OF CREDIT
BY FEDERAL RESERVE BANKS
(REGULATION A)
1. The authority citation for part 201
continues to read as follows:
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 ........................................................................................................................................................
(b) Secondary credit. The interest
rates for secondary credit provided to
Rate
mstockstill on PROD1PC66 with RULES
Boston ....................................................................................................................................................................
New York ...............................................................................................................................................................
Philadelphia ...........................................................................................................................................................
Cleveland ...............................................................................................................................................................
Richmond ...............................................................................................................................................................
Atlanta ....................................................................................................................................................................
Chicago ..................................................................................................................................................................
St. Louis .................................................................................................................................................................
Minneapolis ............................................................................................................................................................
Kansas City ...........................................................................................................................................................
Dallas .....................................................................................................................................................................
San Francisco ........................................................................................................................................................
VerDate Aug<31>2005
17:45 Sep 26, 2007
Jkt 211001
September
September
September
September
September
September
September
September
September
September
September
September
18,
18,
20,
18,
19,
19,
20,
19,
18,
18,
19,
18,
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
depository institutions under 201.4(b)
are:
Federal Reserve Bank
1 The primary, secondary, and seasonal credit
rates described in this section apply to both
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
advances and discounts made under the primary,
PO 00000
Frm 00002
Fmt 4700
Sfmt 4700
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
5.75
6.75
6.75
Effective
September
September
September
September
September
September
September
September
September
September
September
September
18,
18,
20,
18,
19,
19,
20,
19,
18,
18,
19,
18,
secondary, and seasonal credit programs,
respectively.
E:\FR\FM\27SER1.SGM
27SER1
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
2007.
Federal Register / Vol. 72, No. 187 / Thursday, September 27, 2007 / Rules and Regulations
*
*
*
*
*
By order of the Board of Governors of the
Federal Reserve System, September 21, 2007.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E7–19062 Filed 9–26–07; 8:45 am]
BILLING CODE 6210–01–P
Order 7400.9R dated August 15, 2007,
and effective September 15, 2007, which
is incorporated by reference in 14 CFR
part 71.1. The Class E airspace
designations listed in this document
will be published subsequently in that
Order.
The Rule
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 71
[Docket No. FAA–2007–28235; Airspace
Docket No. 07–ANM–9]
Establishment of Class E Airspace;
Hulett, WY
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule.
AGENCY:
mstockstill on PROD1PC66 with RULES
SUMMARY: This action will establish
Class E airspace at Hulett, WY.
Additional Class E airspace is necessary
to accommodate aircraft using a new
Area Navigation (RNAV) Global
Positioning System (GPS) Instrument
Approach Procedure (IAP) at Hulett
Municipal Airport. This will improve
the safety of Instrument Flight Rules
(IFR) aircraft executing the new RNAV
GPS IAP at Hulett Municipal Airport,
Hulett, WY. Also, this action makes a
minor correction to the airport
description.
DATES: Effective Date: 0901 UTC,
December 20, 2007. The Director of the
Federal Register approves this
incorporation by reference action under
1 CFR part 51, subject to the annual
revision of FAA Order 7400.9 and
publication of conforming amendments.
FOR FURTHER INFORMATION CONTACT:
Eldon Taylor, Federal Aviation
Administration, System Support Group,
Western Service Area, 1601 Lind
Avenue SW., Renton, WA 98057;
telephone (425) 917–6726.
SUPPLEMENTARY INFORMATION:
History
On July 3, 2007, the FAA published
in the Federal Register a notice of
proposed rulemaking to establish Class
E airspace at Hulett, WY, (72 FR 36397).
This action would improve the safety of
IFR aircraft executing this new RNAV
GPS IAP at Hulett Municipal Airport,
Hulett, WY. Interested parties were
invited to participate in this rulemaking
effort by submitting written comments
on the proposal to the FAA. No
comments were received.
Class E airspace designations are
published in paragraph 6005 of FAA
VerDate Aug<31>2005
17:45 Sep 26, 2007
Jkt 211001
This action amends Title 14 Code of
Federal Regulations (14 CFR) part 71 by
establishing Class E airspace at Hulett,
WY. Additional controlled airspace is
necessary to accommodate IFR aircraft
executing a new RNAV (GPS) IAP at
Hulett Municipal Airport, Hulett, WY.
The FAA has determined that this
regulation only involves an established
body of technical regulations for which
frequent and routine amendments are
necessary to keep them operationally
current. Therefore, this regulation: (1) Is
not a ‘‘significant regulatory action’’
under Executive Order 12866; (2) is not
a ‘‘significant rule’’ under DOT
Regulatory Policies and Procedures (44
FR 11034; February 26, 1979); and (3)
does not warrant preparation of a
regulatory evaluation as the anticipated
impact is so minimal. Since this is a
routine matter that will only affect air
traffic procedures and air navigation, it
is certified that this rule, when
promulgated, will not have a significant
economic impact on a substantial
number of small entities under the
criteria of the Regulatory Flexibility Act.
The FAA’s authority to issue rules
regarding aviation safety is found in
Title 49 of the United States Code.
Subtitle I, Section 106 describes the
authority of the FAA Administrator.
Subtitle VII, Aviation Programs,
describes in more detail the scope of the
agency’s authority.
This rulemaking is promulgated
under the authority described in
Subtitle VII, Part A, Subpart I, Section
40103. Under that section, the FAA is
charged with prescribing regulations to
assign the use of airspace necessary to
ensure the safety of aircraft and the
efficient use of airspace. This regulation
is within the scope of that authority as
it establishes additional controlled
airspace at Hulett Municipal Airport,
Hulett, WY.
54815
PART 71—DESIGNATION OF CLASS A,
B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND
REPORTING POINTS
1. The authority citation for 14 CFR
part 71 continues to read as follows:
I
Authority: 49 U.S.C. 106(g), 40103, 40113,
40120; E. O. 10854, 24 FR 9565, 3 CFR, 1959–
1963 Comp., p. 389.
§ 71.1
[Amended]
2. The incorporation by reference in
14 CFR part 71.1 of the Federal Aviation
Administration Order 7400.9R, Airspace
Designations and Reporting Points,
dated August 15, 2007, and effective
September 15, 2007, is amended as
follows:
I
Paragraph 6005 Class E airspace areas
extending upward from 700 feet or more
above the surface of the earth.
*
*
*
*
*
ANM WY, E5 Hulett, WY [New]
Hulett Municipal Airport, WY
(Lat. 44°39′46″ N., long. 104°34′04″ W.)
Newcastle VOR, WY
(Lat. 43°52′52″ N., long. 104°18′28″ W.)
That airspace extending upward from 700
feet above the surface within 8.0-mile radius
of Hulett Municipal Airport that airspace
extending upward from 1,200 feet above the
surface beginning at Lat. 44°50′00″ N., long.
105°00′00″ W.; thence to Lat. 44°50′00″ N.,
long. 104°00′00″ W.; thence south along long.
104°00′00″ W., to V–536; thence west along
V–536 to Newcastle VOR; thence west on V–
536 to Lat. 44°09′00″ N., long. 105°00′00″ W.;
thence to beginning.
*
*
*
*
*
Issued in Seattle, Washington, on August
30, 2007.
Clark Desing,
Manager, System Support Group, Western
Service Center.
[FR Doc. E7–18930 Filed 9–26–07; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 119
[Docket No. FAA–2007–29313 (formerly
28154); Amendment No. 119–12]
RIN 2120–AF62
Airspace, Incorporation by reference,
Navigation (air).
Commuter Operations and General
Certification and Operations
Requirements; Qualifications for
Director of Maintenance for Part 135
Operations
Adoption of the Amendment
AGENCY:
List of Subjects in 14 CFR Part 71
In consideration of the foregoing, the
Federal Aviation Administration
amends 14 CFR part 71 as follows:
I
PO 00000
Frm 00003
Fmt 4700
Sfmt 4700
Federal Aviation
Administration, DOT.
ACTION: Final rule; technical
amendment.
E:\FR\FM\27SER1.SGM
27SER1
]]>Agencies
[Federal Register Volume 72, Number 187 (Thursday, September 27, 2007)]
[Rules and Regulations]
[Pages 54813-54815]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-19062]
=======================================================================
-----------------------------------------------------------------------
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 a decrease in the primary credit rate at each Federal
Reserve Bank. The secondary credit rate at each Reserve Bank
automatically decreased by formula as a result of the Board's primary
credit rate action.
DATES: The amendments to part 201 (Regulation A) are effective
September 27, 2007. 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 decrease by 50
basis points the primary credit rate in effect at each of the twelve
Federal Reserve Banks, thereby decreasing from 5.75 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 decreased from 6.25 percent to 5.75
percent under the secondary credit rate formula. The final amendments
to Regulation A reflect these rate changes.
The 50-basis-point decrease in the primary credit rate was
associated with a similar decrease in the target for the federal funds
rate (from 5.25 percent to 4.75 percent) approved by the Federal Open
Market Committee (Committee) and announced at the same time. A press
release announcing these actions indicated that:
Economic growth was moderate during the first half of the year,
but the tightening of
[[Page 54814]]
credit conditions has the potential to intensify the housing
correction and to restrain economic growth more generally. Today's
action is intended to help forestall some of the adverse effects on
the broader economy that might otherwise arise from the disruptions
in financial markets and to promote moderate growth over time.
Readings on core inflation have improved modestly this year.
However, the Committee judges that some inflation risks remain, and
it will continue to monitor inflation developments carefully.
Developments in financial markets since the Committee's last
regular meeting have increased the uncertainty surrounding the
economic outlook. The Committee will continue to assess the effects
of these and other developments on economic prospects and will act
as needed to foster price stability and sustainable economic growth.
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:
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 September 18, 2007.
New York....................... 5.25 September 18, 2007.
Philadelphia................... 5.25 September 20, 2007.
Cleveland...................... 5.25 September 18, 2007.
Richmond....................... 5.25 September 19, 2007.
Atlanta........................ 5.25 September 19, 2007.
Chicago........................ 5.25 September 20, 2007.
St. Louis...................... 5.25 September 19, 2007.
Minneapolis.................... 5.25 September 18, 2007.
Kansas City.................... 5.25 September 18, 2007.
Dallas......................... 5.25 September 19, 2007.
San Francisco.................. 5.25 September 18, 2007.
------------------------------------------------------------------------
(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 September 18, 2007.
New York....................... 5.75 September 18, 2007.
Philadelphia................... 5.75 September 20, 2007.
Cleveland...................... 5.75 September 18, 2007.
Richmond....................... 5.75 September 19, 2007.
Atlanta........................ 5.75 September 19, 2007.
Chicago........................ 5.75 September 20, 2007.
St. Louis...................... 5.75 September 19, 2007.
Minneapolis.................... 5.75 September 18, 2007.
Kansas City.................... 5.75 September 18, 2007.
Dallas......................... 6.75 September 19, 2007.
San Francisco.................. 6.75 September 18, 2007.
------------------------------------------------------------------------
[[Page 54815]]
* * * * *
By order of the Board of Governors of the Federal Reserve
System, September 21, 2007.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E7-19062 Filed 9-26-07; 8:45 am]
BILLING CODE 6210-01-P
