Revisions of Regulations Concerning Procedures for Electronic Filing, 5618-5620 [E9-1832]
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Federal Register / Vol. 74, No. 19 / Friday, January 30, 2009 / Rules and Regulations
in an effort to ensure adequate liquidity
in a financial crisis. However, up to a
point that cost is offset by the potential
benefit of the Enterprises being prepared
to maintain funding for their long-term
assets and to respond in an appropriate
and meaningful way to a market
disruption.
Question 20: What risks and costs are
associated with requiring the
Enterprises to maintain a portfolio of
liquid, non-mortgage assets?
Question 21: Is it appropriate to
require the Enterprises to hold a large
portfolio of highly liquid assets even
during periods of market tranquility? If
so, why? Should the Enterprises be
compensated for holding ‘‘excess’’
levels of non-mortgage assets during
periods of market tranquility? If so,
what are appropriate incentives?
ii. Standards Governing Enterprise
Non-Mortgage Assets.
The rationale for establishing
standards governing the size and
composition of the Enterprises’ nonmortgage assets is to ensure that they
maintain sufficient liquidity to meet
their obligations and engage in new
business during market distress and to
ensure that the Enterprises do not hold
amounts of those assets beyond those
needed to achieve their mission. That
can be best achieved by requiring that
the Enterprises maintain portfolios of
marketable, highly liquid non-mortgage
assets at prescribed levels. Those assets
would be easily converted into cash,
without loss of value and disruption to
financial markets. Indeed, during a
market crisis such as that experienced
in the recent past, a portfolio of highly
liquid non-mortgage assets would better
enable the Enterprises to perform their
mission of providing liquidity and
stability to the secondary mortgage
market.
a. Size of the Non-Mortgage Portfolios.
FHFA could establish criteria
governing the size of the Enterprises’
holding of non-mortgage assets. For
example, the criteria could require that
each Enterprise maintain a minimum
balance of marketable, highly liquid
non-mortgage assets equal to 30 days of
expected net cash needs and totaling at
least $30 billion at all times.
Question 22: Should the Enterprises
be required to maintain a specific
minimum dollar amount of highly
liquid non-mortgage assets at all times?
If so, what is an appropriate dollar
amount? Alternatively, should the level
of non-mortgage assets be set at a
percentage of an Enterprise’s total assets
or a specified number of days of
liquidity? If so, what is an appropriate
percentage factor or number of days?
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Question 23: Should the Enterprises’
non-mortgage portfolios grow with the
phases of the mortgage credit cycle or
counter to that cycle? Should the
Enterprises be given incentives for
holding large volumes of liquid nonmortgage assets during periods of ample
market liquidity? If so, how should such
incentives be provided? For instance,
after criteria governing holdings of nonmortgage assets are established, FHFA
could reduce each Enterprise’s
minimum capital requirement by, for
example, 75 percent of the amount of
non-mortgage assets held to comply
with those criteria.
b. Composition of the Non-Mortgage
Portfolios.
In establishing criteria governing the
composition of the Enterprises’ nonmortgage portfolios, FHFA could require
that U.S. Treasury securities with
maturities of 30 days or less represent
a specified percentage of each
Enterprise’s total non-mortgage assets
(for example, 50 percent). The balance
of each Enterprise’s portfolio could
include other marketable, liquid, highlyrated securities, with maturities of one
year or less, such as the following—
• Commercial paper (rated A1/P1);
• Short-term Eurodollar time
deposits;
• Short-term money market accounts;
and
• Short-term municipal securities.
Question 24: Should the criteria
enumerate the specific types of
investments the Enterprises should hold
in the non-mortgage portfolios. If so,
what type assets should be included?
Should U.S. Treasury securities
represent a specific share of the nonmortgage portfolios? If so, what is an
appropriate percentage or dollar
amount?
Question 25: What is an appropriate
maturity range for securities comprising
the non-mortgage portfolios? How
should holdings be distributed
according to that range?
4. Questions Requesting Public
Comment Regarding Temporary
Adjustment of Criteria Governing
Portfolio Holdings
The Act authorizes the Director to
order temporary adjustments to the
established criteria governing the
portfolio holdings of an Enterprise or
both Enterprises, including during times
of economic distress or market
dislocation. 12 U.S.C. 4624(b).
Question 26: Should FHFA attempt
to specify in advance how it might
adjust criteria governing Enterprise
mortgage or non-mortgage portfolio
holdings in specific circumstances?
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List of Subjects
12 CFR Part 1252
Government-sponsored enterprises,
Portfolio holdings, Mortgages.
Authority and Issuance
Accordingly, for the reasons stated in
the preamble, under the authority of 12
U.S.C. 4624, the Federal Housing
Finance Agency hereby amends Title
12, Chapter XII, Code of Federal
Regulations as follows:
■
CHAPTER XII—FEDERAL HOUSING
FINANCE AGENCY
Subchapter C—Enterprises
1. Add Subchapter C consisting of
part 1252 to read as follows:
■
PART 1252—PORTFOLIO HOLDINGS
Sec.
1252.1 Enterprise portfolio holdings
criteria.
1252.2 Effective duration.
Authority: 12 U.S.C. 4624.
§ 1252.1
criteria.
Enterprise portfolio holding
The Enterprises are required to
comply with the portfolio holdings
criteria set forth in their respective
Senior Preferred Stock Purchase
Agreements with the Department of the
Treasury, as they may be amended from
time to time.
§ 1252.2
Effective duration.
This part shall be in effect for each
Enterprise so long as—
(a) This part has not been superseded
through amendment, and
(b) The Enterprise remains subject to
the terms and obligations of the
respective Senior Preferred Stock
Purchase Agreement.
Dated: January 16, 2009.
James B. Lockhart III,
Director, Federal Housing Finance Agency.
[FR Doc. E9–2047 Filed 1–29–09; 8:45 am]
BILLING CODE 8070–01–P
NATIONAL LABOR RELATIONS
BOARD
29 CFR Part 102
Revisions of Regulations Concerning
Procedures for Electronic Filing
AGENCY:
National Labor Relations
Board.
ACTION:
Final rule.
SUMMARY: The Board is amending
regulations concerning the procedures
for filing documents with the Agency
E:\FR\FM\30JAR1.SGM
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Federal Register / Vol. 74, No. 19 / Friday, January 30, 2009 / Rules and Regulations
electronically. The revisions provide
that when the document being filed
electronically is required to be served
on another party to the proceeding, the
other party shall be served by electronic
mail (e-mail), if possible. If electronic
service is not possible, the other party
shall be notified by telephone of the
substance of the transmitted document
and a copy of the document shall be
served personally, or by registered mail,
certified mail, regular mail, or private
delivery service, or, with the consent of
the other party, by facsimile
transmission.
DATES: January 30, 2009.
FOR FURTHER INFORMATION CONTACT:
Lester A. Heltzer, Executive Secretary,
202–273–1067.
SUPPLEMENTARY INFORMATION:
Current regulation: Section 102.114
provides that the Agency’s Web site
(https://www.nlrb.gov) contains certain
forms that parties or other persons are
permitted to file with the Agency
electronically. Parties or other persons
choosing to utilize those forms to file
documents electronically are permitted
to do so by following the instructions
described on the Web site,
notwithstanding any contrary
provisions elsewhere in these rules. In
the event the document being filed
electronically is required to be served
on another party to a proceeding, the
other party shall be notified by
telephone of the substance of the
transmitted document and a copy of the
document shall be served by personal
service no later than the next day, by
overnight delivery service, or, with the
permission of the party receiving the
document, by facsimile transmission.
Proposed revision: The Board first
began e-Filing as a pilot project in 2003.
Since that time the scope of e-Filing has
been expanded significantly, and more
than 12,000 documents have been filed
electronically with the Board and its
Regional Offices. During that same time
period it has become clear that the use
of e-mail has become a well established
method of transacting business by both
the Government and the public it serves.
Accordingly, in August 2008 the Board
initiated another pilot project to test the
ability of the Agency to issue decisions
electronically and serve the parties via
e-mail.
In addition, when the e-Filing project
first began, the Board adapted the
expedited service requirements
applicable to filings by personal service
and required documents filed
electronically to be served on other
parties by overnight delivery service. As
e-Filing has become an accepted method
of filing documents with the Agency, it
VerDate Nov<24>2008
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Jkt 217001
has become increasingly clear that these
expedited service requirements impose
a substantial cost on all parties and are
a significant impediment to greater use
of e-Filing. Also, these expedited service
requirements are inconsistent with the
practices adopted by the Federal Court
system for its e-Filing procedures.
Based upon the success of the e-Filing
and the e-Issuance/e-Service projects,
and in an effort to align Board
procedures more closely with those of
the Federal Court system, the Board has
now decided to allow parties to serve
documents upon each other
electronically, using e-mail, and to
eliminate the expedited service
requirements that have proven to be an
unnecessary burden. Given the widely
accepted use of e-mail as a tool of
business communication, allowing
electronic service via e-mail will
address the concerns that led the Board
to adopt the original expedited service
requirements. In those limited
circumstances where electronic service
is not possible, the Board is of the view
that notification by telephone, followed
by service by traditional means, will
provide adequate notice of the filing and
protect the rights of the parties.
Administrative Procedure Act
Because the change involves rules of
agency organization, procedure or
practice, the Agency is not required to
publish it for comment under Section
553 of the Administrative Procedure Act
(5 U.S.C. 553).
Regulatory Flexibility Act
Because no notice of proposed rulemaking is required for procedural rules,
the requirements of the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.)
pertaining to regulatory flexibility
analysis do not apply to these rules.
However, even if the Regulatory
Flexibility Act were to apply, the NLRB
certifies that these changes will not have
a significant economic impact on small
business entities since the changes do
not impose any additional economic
cost.
Small Business Regulatory Enforcement
Fairness Act
Because the rule relates to Agency
procedure and practice and merely
modifies the agency’s existing filing
procedures, the Board has determined
that the Congressional review
provisions of the Small Business
Regulatory Enforcement Fairness Act (5
U.S.C. 801) do not apply.
Paperwork Reduction Act
This part does not impose any
reporting or recordkeeping requirements
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5619
under the Paperwork Reduction Act of
1995.
Lists of Subjects in 29 CFR Part 102
Administrative practice and
procedure, Labor management relations.
■ For the reasons set forth above, the
NLRB is amending 29 CFR Chapter I,
Part 102, as follows:
PART 102—RULES AND
REGULATIONS SERIES 8
1. The authority citation for part 102
continues to read as follows:
■
Authority: Section 6, National Labor
Relations Act, as amended (29 U.S.C. 151,
156). Section 102.117(c) also issued under
Section 552(a)(4)(A) of the Freedom of
Information Act, as amended (5 U.S.C.
552(a)(4)(A)). Sections 102.143 through
102.155 also issued under Section 504(c)(1)
of the Equal Access to Justice Act, as
amended (5 U.S.C. 504(c)(1)).
2. In § 102.114 revise paragraphs (a)
and (i) to read as follows:
(a) Service of documents by a party on
other parties may be made personally,
or by registered mail, certified mail,
regular mail, electronic mail (if the
document was filed electronically) or
private delivery service. Service of
documents by a party on other parties
by any other means, including facsimile
transmission, is permitted only with the
consent of the party being served.
Unless otherwise specified elsewhere in
these rules, service on all parties shall
be made in the same manner as that
utilized in filing the document with the
Board, or in a more expeditious manner;
however, when filing with the Board is
done by hand, the other parties shall be
promptly notified of such action by
telephone, followed by service of a copy
in a manner designed to insure receipt
by them by the close of the next
business day. The provisions of this
section apply to the General Counsel
after a complaint has issued, just as they
do to any other party, except to the
extent that the provisions of
§§ 102.113(a) or 102.113(c) provide
otherwise.
*
*
*
*
*
(i) The Agency’s Web site (https://
www.nlrb.gov) contains certain forms
that parties or other persons are
permitted to file with the Agency
electronically. Parties or other persons
choosing to utilize those forms to file
documents electronically are permitted
to do so by following the instructions
described on the Web site,
notwithstanding any contrary
provisions elsewhere in these rules. In
the event the document being filed
electronically is required to be served
on another party to a proceeding, the
■
E:\FR\FM\30JAR1.SGM
30JAR1
5620
Federal Register / Vol. 74, No. 19 / Friday, January 30, 2009 / Rules and Regulations
other party shall be served by electronic
mail (e-mail), if possible. If the other
party does not have the ability to receive
electronic service, the other party shall
be notified by telephone of the
substance of the transmitted document
and a copy of the document shall be
served by personal service no later than
the next day, by overnight delivery
service, or, with the permission of the
party receiving the document, by
facsimile transmission.
Dated: Washington, DC, January 23, 2009.
By Direction of the Board.
Lester A. Heltzer,
Executive Secretary.
[FR Doc. E9–1832 Filed 1–29–09; 8:45 am]
BILLING CODE 7545–01–P
LEGAL SERVICES CORPORATION
45 CFR Part 1611
Income Level for Individuals Eligible
for Assistance
Legal Services Corporation.
ACTION: Final rule.
AGENCY:
The Legal Services
Corporation (‘‘Corporation’’) is required
by law to establish maximum income
levels for individuals eligible for legal
assistance. This document updates the
SUMMARY:
specified income levels to reflect the
annual amendments to the Federal
Poverty Guidelines as issued by the
Department of Health and Human
Services.
DATES: Effective Date: This rule is
effective as of January 30, 2009.
FOR FURTHER INFORMATION CONTACT:
Mattie Cohan, Senior Assistant General
Counsel, Legal Services Corporation,
3333 K St., NW., Washington, DC 20007;
(202) 295–1624; mcohan@lsc.gov.
SUPPLEMENTARY INFORMATION: Section
1007(a)(2) of the Legal Services
Corporation Act (‘‘Act’’), 42 U.S.C.
2996f(a)(2), requires the Corporation to
establish maximum income levels for
individuals eligible for legal assistance,
and the Act provides that other
specified factors shall be taken into
account along with income.
Section 1611.3(c) of the Corporation’s
regulations establishes a maximum
income level equivalent to one hundred
and twenty-five percent (125%) of the
Federal Poverty Guidelines. Since 1982,
the Department of Health and Human
Services has been responsible for
updating and issuing the Federal
Poverty Guidelines. The revised figures
for 2009 set out below are equivalent to
125% of the current Federal Poverty
Guidelines as published on January 23,
2009 (74 FR 4199).
In addition, LSC is publishing charts
listing income levels that are 200% of
the Federal Poverty Guidelines. These
charts are for reference purposes only as
an aid to grant recipients in assessing
the financial eligibility of an applicant
whose income is greater than 200% of
the applicable Federal Poverty
Guidelines amount, but less than 200%
of the applicable Federal Poverty
Guidelines amount (and who may be
found to be financially eligible under
duly adopted exceptions to the annual
income ceiling in accordance with
sections 1611.3, 1611.4 and 1611.5).
List of Subjects in 45 CFR Part 1611
Grant programs—Law, Legal services.
For reasons set forth above, 45 CFR
part 1611 is amended as follows:
■
PART 1611—ELIGIBILITY
1. The authority citation for part 1611
continues to read as follows:
■
Authority: Secs. 1006(b)(1), 1007(a)(1)
Legal Services Corporation Act of 1974, 42
U.S.C. 2996e(b)(1), 2996f(a)(1), 2996f(a)(2).
2. Appendix A to part 1611 is revised
to read as follows:
■
Appendix A to Part 1611—Legal
Services Corporation 2009 Poverty
Guidelines *
48 contiguous
states and the
District of
Columbia
Size of household
1 .......................................................................................................................................
2 .......................................................................................................................................
3 .......................................................................................................................................
4 .......................................................................................................................................
5 .......................................................................................................................................
6 .......................................................................................................................................
7 .......................................................................................................................................
8 .......................................................................................................................................
For each additional member of the household in excess of 8, add ...............................
Alaska
$13,538
18,213
22,888
27,563
32,238
36,913
41,588
46,263
4,675
$16,913
22,763
28,613
34,463
40,313
46,163
52,013
57,863
5,850
Hawaii
$15,575
20,950
26,325
31,700
37,075
42,450
47,825
53,200
5,375
* The figures in this table represent 125% of the poverty guidelines by household size as determined by the Department of Health and Human
Services.
REFERENCE CHART—200% OF DHHS FEDERAL POVERTY GUIDELINES
48 contiguous
states and the
District of
Columbia
erowe on PROD1PC63 with RULES
Size of household
1 .......................................................................................................................................
2 .......................................................................................................................................
3 .......................................................................................................................................
4 .......................................................................................................................................
5 .......................................................................................................................................
6 .......................................................................................................................................
7 .......................................................................................................................................
8 .......................................................................................................................................
For each additional member of the household in excess of 8, add ...............................
VerDate Nov<24>2008
14:40 Jan 29, 2009
Jkt 217001
PO 00000
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Sfmt 4700
Alaska
$21,660
29,140
36,620
44,100
51,580
59,060
66,540
74,020
7,480
E:\FR\FM\30JAR1.SGM
30JAR1
$27,060
36,420
45,780
55,140
64,500
73,860
83,220
92,580
9,360
Hawaii
$24,920
33,520
42,120
50,720
59,320
67,920
76,520
85,120
8,600
]]>Agencies
[Federal Register Volume 74, Number 19 (Friday, January 30, 2009)]
[Rules and Regulations]
[Pages 5618-5620]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-1832]
=======================================================================
-----------------------------------------------------------------------
NATIONAL LABOR RELATIONS BOARD
29 CFR Part 102
Revisions of Regulations Concerning Procedures for Electronic
Filing
AGENCY: National Labor Relations Board.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Board is amending regulations concerning the procedures
for filing documents with the Agency
[[Page 5619]]
electronically. The revisions provide that when the document being
filed electronically is required to be served on another party to the
proceeding, the other party shall be served by electronic mail (e-
mail), if possible. If electronic service is not possible, the other
party shall be notified by telephone of the substance of the
transmitted document and a copy of the document shall be served
personally, or by registered mail, certified mail, regular mail, or
private delivery service, or, with the consent of the other party, by
facsimile transmission.
DATES: January 30, 2009.
FOR FURTHER INFORMATION CONTACT: Lester A. Heltzer, Executive
Secretary, 202-273-1067.
SUPPLEMENTARY INFORMATION:
Current regulation: Section 102.114 provides that the Agency's Web
site (https://www.nlrb.gov) contains certain forms that parties or other
persons are permitted to file with the Agency electronically. Parties
or other persons choosing to utilize those forms to file documents
electronically are permitted to do so by following the instructions
described on the Web site, notwithstanding any contrary provisions
elsewhere in these rules. In the event the document being filed
electronically is required to be served on another party to a
proceeding, the other party shall be notified by telephone of the
substance of the transmitted document and a copy of the document shall
be served by personal service no later than the next day, by overnight
delivery service, or, with the permission of the party receiving the
document, by facsimile transmission.
Proposed revision: The Board first began e-Filing as a pilot
project in 2003. Since that time the scope of e-Filing has been
expanded significantly, and more than 12,000 documents have been filed
electronically with the Board and its Regional Offices. During that
same time period it has become clear that the use of e-mail has become
a well established method of transacting business by both the
Government and the public it serves. Accordingly, in August 2008 the
Board initiated another pilot project to test the ability of the Agency
to issue decisions electronically and serve the parties via e-mail.
In addition, when the e-Filing project first began, the Board
adapted the expedited service requirements applicable to filings by
personal service and required documents filed electronically to be
served on other parties by overnight delivery service. As e-Filing has
become an accepted method of filing documents with the Agency, it has
become increasingly clear that these expedited service requirements
impose a substantial cost on all parties and are a significant
impediment to greater use of e-Filing. Also, these expedited service
requirements are inconsistent with the practices adopted by the Federal
Court system for its e-Filing procedures.
Based upon the success of the e-Filing and the e-Issuance/e-Service
projects, and in an effort to align Board procedures more closely with
those of the Federal Court system, the Board has now decided to allow
parties to serve documents upon each other electronically, using e-
mail, and to eliminate the expedited service requirements that have
proven to be an unnecessary burden. Given the widely accepted use of e-
mail as a tool of business communication, allowing electronic service
via e-mail will address the concerns that led the Board to adopt the
original expedited service requirements. In those limited circumstances
where electronic service is not possible, the Board is of the view that
notification by telephone, followed by service by traditional means,
will provide adequate notice of the filing and protect the rights of
the parties.
Administrative Procedure Act
Because the change involves rules of agency organization, procedure
or practice, the Agency is not required to publish it for comment under
Section 553 of the Administrative Procedure Act (5 U.S.C. 553).
Regulatory Flexibility Act
Because no notice of proposed rule-making is required for
procedural rules, the requirements of the Regulatory Flexibility Act (5
U.S.C. 601 et seq.) pertaining to regulatory flexibility analysis do
not apply to these rules. However, even if the Regulatory Flexibility
Act were to apply, the NLRB certifies that these changes will not have
a significant economic impact on small business entities since the
changes do not impose any additional economic cost.
Small Business Regulatory Enforcement Fairness Act
Because the rule relates to Agency procedure and practice and
merely modifies the agency's existing filing procedures, the Board has
determined that the Congressional review provisions of the Small
Business Regulatory Enforcement Fairness Act (5 U.S.C. 801) do not
apply.
Paperwork Reduction Act
This part does not impose any reporting or recordkeeping
requirements under the Paperwork Reduction Act of 1995.
Lists of Subjects in 29 CFR Part 102
Administrative practice and procedure, Labor management relations.
0
For the reasons set forth above, the NLRB is amending 29 CFR Chapter I,
Part 102, as follows:
PART 102--RULES AND REGULATIONS SERIES 8
0
1. The authority citation for part 102 continues to read as follows:
Authority: Section 6, National Labor Relations Act, as amended
(29 U.S.C. 151, 156). Section 102.117(c) also issued under Section
552(a)(4)(A) of the Freedom of Information Act, as amended (5 U.S.C.
552(a)(4)(A)). Sections 102.143 through 102.155 also issued under
Section 504(c)(1) of the Equal Access to Justice Act, as amended (5
U.S.C. 504(c)(1)).
0
2. In Sec. 102.114 revise paragraphs (a) and (i) to read as follows:
(a) Service of documents by a party on other parties may be made
personally, or by registered mail, certified mail, regular mail,
electronic mail (if the document was filed electronically) or private
delivery service. Service of documents by a party on other parties by
any other means, including facsimile transmission, is permitted only
with the consent of the party being served. Unless otherwise specified
elsewhere in these rules, service on all parties shall be made in the
same manner as that utilized in filing the document with the Board, or
in a more expeditious manner; however, when filing with the Board is
done by hand, the other parties shall be promptly notified of such
action by telephone, followed by service of a copy in a manner designed
to insure receipt by them by the close of the next business day. The
provisions of this section apply to the General Counsel after a
complaint has issued, just as they do to any other party, except to the
extent that the provisions of Sec. Sec. 102.113(a) or 102.113(c)
provide otherwise.
* * * * *
(i) The Agency's Web site (https://www.nlrb.gov) contains certain
forms that parties or other persons are permitted to file with the
Agency electronically. Parties or other persons choosing to utilize
those forms to file documents electronically are permitted to do so by
following the instructions described on the Web site, notwithstanding
any contrary provisions elsewhere in these rules. In the event the
document being filed electronically is required to be served on another
party to a proceeding, the
[[Page 5620]]
other party shall be served by electronic mail (e-mail), if possible.
If the other party does not have the ability to receive electronic
service, the other party shall be notified by telephone of the
substance of the transmitted document and a copy of the document shall
be served by personal service no later than the next day, by overnight
delivery service, or, with the permission of the party receiving the
document, by facsimile transmission.
Dated: Washington, DC, January 23, 2009.
By Direction of the Board.
Lester A. Heltzer,
Executive Secretary.
[FR Doc. E9-1832 Filed 1-29-09; 8:45 am]
BILLING CODE 7545-01-P
