Availability of Funds and Collection of Checks, 26515-26516 [E9-12925]
Download as PDF
<![CDATA[
Federal Register / Vol. 74, No. 105 / Wednesday, June 3, 2009 / Rules and Regulations
Training (OPT) from 12 months to 29
months for F–1 students who have
completed a science, technology,
engineering, or mathematics (STEM)
degree with a degree code that is on the
current STEM Designated Degree
Program List, and who accept
employment with employers enrolled in
U.S. Citizenship and Immigration
Services’ (USCIS’) E–Verify employment
verification program. In that IFR, there
was one typographical error and two
inadvertent omissions. Through this
amendment, DHS corrects those items.
First, DHS is correcting an error in the
regulatory text of the interim final rule.
The regulatory text that added new 8
CFR 274a.12(b)(6)(v) at 73 FR 18956
contains a typographical error. The
paragraph begins with an unnecessary
‘‘Or’’. Through this amendment, DHS
removes that extra word.
Second, DHS is correcting two
inadvertent omissions. In the
amendatory language for amendment 2b
at 73 FR 18954, DHS inadvertently
omitted a reference to the revision to 8
CFR 214.2(f)(10)(ii)(D). While that
revision was in the regulatory text of the
document submitted to the Federal
Register, it was not in the amendatory
language of the document submitted to
the Federal Register, and so it would
not be accurately codified in the Code
of Federal Regulations. Also,
amendment 5b at 73 FR 18956 revised
8 CFR 274a.12(c)(3). It should have only
revised 8 CFR 274a.12(c)(3)(i). As a
result, 8 CFR 274a.12(c)(3)(ii) and
274a.12(c)(3)(iii) were inadvertently
omitted.
*
*
*
*
*
(f) * * *
(10) * * *
(ii) * * *
(D) Duration of status while on postcompletion OPT. For a student with
approved post-completion OPT, the
duration of status is defined as the
period beginning when the student’s
application for OPT was properly filed
and pending approval, including the
authorized period of post-completion
OPT, and ending 60 days after the OPT
employment authorization expires
(allowing the student to prepare for
departure, change educational levels at
the same school, or transfer in
accordance with paragraph (f)(8) of this
section).
*
*
*
*
*
PART 274a—CONTROL OF
EMPLOYMENT OF ALIENS
3. The authority citation for part 274a
continues to read as follows:
■
Authority: 8 U.S.C. 1101, 1103, 1324a; 8
CFR part 2; Pub. L. 101–410, 104 Stat. 890,
as amended by Pub. L. 104–134, 110 Stat.
1321.
§ 274a.12 Classes of aliens authorized to
accept employment.
8 CFR Part 274a
Administrative practice and
procedure, Aliens, Employment,
Penalties, Reporting and recordkeeping
requirements.
■ For the reasons set forth in the
preamble, 8 CFR part 214 and 274a are
amended as follows:
PART 214—NONIMMIGRANT CLASSES
1. The authority citation for part 214
continues to read as follows:
■
dwashington3 on PROD1PC60 with RULES
§ 214.2 Special requirements for
admission, extension and maintenance of
status.
4. Section 274a.12 is amended by:
a. Removing the word ‘‘Or’’ from the
beginning of paragraph (b)(6)(v); and
■ b. Adding paragraphs (c)(3)(ii) and
(iii).
The additions read as follows:
8 CFR Part 214
Administrative practice and
procedure, Aliens, Employment,
Foreign officials, Health professions,
Reporting and recordkeeping
requirements, Students.
Authority: 8 U.S.C. 1101, 1102, 1103, 1182,
1184, 1186a, 1187, 1221, 1281, 1282, 1301–
1305 and 1372; section 643, Pub. L. 104–208,
110 Stat. 3009–708; Pub. L. 106–386, 114
Stat. 1477–1480; section 141 of the Compacts
of Free Association with the Federated States
15:33 Jun 02, 2009
2. Section 214.2 is amended by
revising paragraph (f)(10)(ii)(D) to read
as follows:
■
■
■
List of Subjects
VerDate Nov<24>2008
of Micronesia and the Republic of the
Marshall Islands, and with the Government
of Palau, 48 U.S.C. 1901 note, and 1931 note,
respectively; 8 CFR part 2.
Jkt 217001
*
*
*
*
*
(c) * * *
(3) * * *
(ii) Has been offered employment
under the sponsorship of an
international organization within the
meaning of the International
Organization Immunities Act (59 Stat.
669) and who presents a written
certification from the international
organization that the proposed
employment is within the scope of the
organization’s sponsorship. The F–1
student must also present a Form I–20
ID or SEVIS Form I–20 with
employment page completed by DSO
certifying eligibility for employment; or
(iii) Is seeking employment because of
severe economic hardship pursuant to 8
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
26515
CFR 214.2(f)(9)(ii)(C) and has filed the
Form I–20 ID and Form I–538 (for nonSEVIS schools), or SEVIS Form I–20
with employment page completed by
the DSO certifying eligibility, and any
other supporting materials such as
affidavits which further detail the
unforeseen economic circumstances that
require the student to seek employment
authorization.
*
*
*
*
*
Christina E. McDonald,
Deputy Associate General Counsel for
Regulatory Affairs.
[FR Doc. E9–12861 Filed 6–2–09; 8:45 am]
BILLING CODE 9111–28–P
FEDERAL RESERVE SYSTEM
12 CFR Part 229
[Regulation CC; Docket No. R–1358]
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
(Board) is amending the routing number
guide to next-day availability checks
and local checks in Regulation CC to
delete the reference to the head office of
the Federal Reserve Bank of
Minneapolis and to reassign the Federal
Reserve routing symbols currently listed
under that office to the head office of
the Federal Reserve Bank of Cleveland.
These amendments reflect the
restructuring of check-processing
operations within the Federal Reserve
System.
DATES: The final rule will become
effective on July 25, 2009.
FOR FURTHER INFORMATION CONTACT:
Jeffrey S. H. Yeganeh, Financial Services
Manager (202/728–5801), or Joseph P.
Baressi, Financial Services Project
Leader (202/452–3959), Division of
Reserve Bank Operations and Payment
Systems; or Dena L. Milligan, Attorney
(202/452–3900), 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
1 For purposes of Regulation CC, the term ‘‘bank’’
refers to any depository institution, including
E:\FR\FM\03JNR1.SGM
Continued
03JNR1
dwashington3 on PROD1PC60 with RULES
26516
Federal Register / Vol. 74, No. 105 / Wednesday, June 3, 2009 / Rules and Regulations
generally must provide faster
availability for funds deposited by a
‘‘local check’’ than by a ‘‘nonlocal
check.’’ A check is considered local if it
is payable by or at or through a bank
located in the same Federal Reserve
check-processing region as the
depositary bank.
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 checkprocessing region and thus are local to
one another.
On July 25, 2009, the Reserve Banks
will transfer the check-processing
operations of the head office of the
Federal Reserve Bank of Minneapolis to
the head office of the Federal Reserve
Bank of Cleveland. As a result of this
change, some checks that are drawn on
and deposited at banks located in the
Minneapolis and Cleveland checkprocessing regions and that currently
are nonlocal checks will become local
checks subject to faster availability
schedules. To assist banks in identifying
local and nonlocal checks and making
funds availability decisions, the Board
is amending the lists of routing symbols
in appendix A associated with the
Federal Reserve Banks of Minneapolis
and Cleveland to reflect the transfer of
check-processing operations from the
head office of the Federal Reserve Bank
of Minneapolis to the head office of the
Federal Reserve Bank of Cleveland. To
coincide with the effective date of the
underlying check-processing changes,
the amendments to appendix A are
effective July 25, 2009. The Board is
providing notice of the amendments at
this time to give affected banks ample
time to make any needed processing
changes. Early 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.2
commercial banks, savings institutions, and credit
unions.
2 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 Nov<24>2008
15:33 Jun 02, 2009
Jkt 217001
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 the
final rule. The revisions to appendix A
are technical in nature and 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. In addition,
the underlying consolidation of Federal
Reserve Bank check-processing offices
involves a matter relating to agency
management, which is exempt from
notice and comment procedures.
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. The
technical amendments to appendix A of
Regulation CC will delete the reference
to the head office of the Federal Reserve
Bank of Minneapolis and reassign the
routing symbols listed under that office
to the head office of the Federal Reserve
Bank of Cleveland. 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, all paperwork
collection procedures associated with
Regulation CC already are in place, and
the Board accordingly 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.
District and revising the listings for the
Fourth Federal Reserve Districts to read
as follows:
Appendix A to Part 229—Routing
Number Guide to Next-Day Availability
Checks and Local Checks
*
*
*
*
*
Fourth Federal Reserve District
[Federal Reserve Bank of Cleveland]
Head Office
0220
0223
0410
0412
0420
0421
0422
0423
0430
0432
0433
0434
0440
0441
0442
0515
0519
0720
0724
0740
0749
0813
0830
0839
0863
0910
0911
0912
0913
0914
0915
0918
0919
0960
*
*
*
2220
2223
2410
2412
2420
2421
2422
2423
2430
2432
2433
2434
2440
2441
2442
2515
2519
2720
2724
2740
2749
2813
2830
2839
2863
2910
2911
2912
2913
2914
2915
2918
2919
2960
*
*
By order of the Board of Governors of the
Federal Reserve System, May 27, 2009.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E9–12925 Filed 6–2–09; 8:45 am]
BILLING CODE 6210–01–P
Authority and Issuance
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)
1. The authority citation for part 229
continues to read as follows:
■
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Part 337
Interest Rate Restrictions on Insured
Depository Institutions That Are Not
Well Capitalized
Authority: 12 U.S.C. 4001–4010, 12 U.S.C.
5001–5018.
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Final rule.
2. The Fourth and Ninth District
routing symbol lists in appendix A are
amended by removing the headings and
listings for the Ninth Federal Reserve
SUMMARY: The FDIC is amending its
regulations relating to the interest rate
restrictions that apply to insured
depository institutions that are not well
■
PO 00000
Frm 00006
Fmt 4700
Sfmt 4700
E:\FR\FM\03JNR1.SGM
03JNR1
]]>Agencies
[Federal Register Volume 74, Number 105 (Wednesday, June 3, 2009)]
[Rules and Regulations]
[Pages 26515-26516]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-12925]
=======================================================================
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
12 CFR Part 229
[Regulation CC; Docket No. R-1358]
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 (Board) is amending the routing number
guide to next-day availability checks and local checks in Regulation CC
to delete the reference to the head office of the Federal Reserve Bank
of Minneapolis and to reassign the Federal Reserve routing symbols
currently listed under that office to the head office of the Federal
Reserve Bank of Cleveland. These amendments reflect the restructuring
of check-processing operations within the Federal Reserve System.
DATES: The final rule will become effective on July 25, 2009.
FOR FURTHER INFORMATION CONTACT: Jeffrey S. H. Yeganeh, Financial
Services Manager (202/728-5801), or Joseph P. Baressi, Financial
Services Project Leader (202/452-3959), Division of Reserve Bank
Operations and Payment Systems; or Dena L. Milligan, Attorney (202/452-
3900), 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
[[Page 26516]]
generally must provide faster availability for funds deposited by a
``local check'' than by a ``nonlocal check.'' A check is considered
local if it is payable by or at or through a bank located in the same
Federal Reserve check-processing region as the depositary bank.
---------------------------------------------------------------------------
\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.
On July 25, 2009, the Reserve Banks will transfer the check-
processing operations of the head office of the Federal Reserve Bank of
Minneapolis to the head office of the Federal Reserve Bank of
Cleveland. As a result of this change, some checks that are drawn on
and deposited at banks located in the Minneapolis and Cleveland 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 checks and making funds availability
decisions, the Board is amending the lists of routing symbols in
appendix A associated with the Federal Reserve Banks of Minneapolis and
Cleveland to reflect the transfer of check-processing operations from
the head office of the Federal Reserve Bank of Minneapolis to the head
office of the Federal Reserve Bank of Cleveland. To coincide with the
effective date of the underlying check-processing changes, the
amendments to appendix A are effective July 25, 2009. The Board is
providing notice of the amendments at this time to give affected banks
ample time to make any needed processing changes. Early 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.\2\
---------------------------------------------------------------------------
\2\ 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 the final rule. The revisions to appendix A are technical
in nature and 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. In
addition, the underlying consolidation of Federal Reserve Bank check-
processing offices involves a matter relating to agency management,
which is exempt from notice and comment procedures.
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. The technical amendments to appendix A of Regulation CC
will delete the reference to the head office of the Federal Reserve
Bank of Minneapolis and reassign the routing symbols listed under that
office to the head office of the Federal Reserve Bank of Cleveland. 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, all
paperwork collection procedures associated with Regulation CC already
are in place, and the Board accordingly 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 Fourth and Ninth District routing symbol lists in appendix A are
amended by removing the headings and listings for the Ninth Federal
Reserve District and revising the listings for the Fourth Federal
Reserve Districts to read as follows:
Appendix A to Part 229--Routing Number Guide to Next-Day Availability
Checks and Local Checks
* * * * *
Fourth Federal Reserve District
[Federal Reserve Bank of Cleveland]
Head Office
0220 2220
0223 2223
0410 2410
0412 2412
0420 2420
0421 2421
0422 2422
0423 2423
0430 2430
0432 2432
0433 2433
0434 2434
0440 2440
0441 2441
0442 2442
0515 2515
0519 2519
0720 2720
0724 2724
0740 2740
0749 2749
0813 2813
0830 2830
0839 2839
0863 2863
0910 2910
0911 2911
0912 2912
0913 2913
0914 2914
0915 2915
0918 2918
0919 2919
0960 2960
* * * * *
By order of the Board of Governors of the Federal Reserve
System, May 27, 2009.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E9-12925 Filed 6-2-09; 8:45 am]
BILLING CODE 6210-01-P
