Home Mortgage Disclosure, 68498-68499 [E9-30603]

Download as PDF 68498 Federal Register / Vol. 74, No. 247 / Monday, December 28, 2009 / Rules and Regulations Administrator, which may include, but are not limited to, data from NASS, Cooperative Extension Service, Agricultural Marketing Service, crop insurance, and NAP. (b) NAMP may be adjusted by the FSA State committee, in accordance with instructions issued by the Deputy Administrator and as specified in § 760.641, to recognize average quality loss factors that are reflected in the market by county or part of a county. (c) With respect to a crop for which an eligible participant on a farm receives assistance under NAP, the NAMP will not exceed the price of the crop established under NAP. (d) To the extent practicable, the NAMP will be established on a harvested basis without the inclusion of transportation, storage, processing, marketing, or other post-harvest expenses, as determined by FSA. (e) NAMP may be adjusted by the FSA State committee, as authorized by The Deputy Administrator, to reflect regional variations in price consistent with those prices established under the FCIA or NAP. erowe on DSK5CLS3C1PROD with RULES § 760.641 Adjustments made to NAMP to reflect loss of quality. (a) The Deputy Administrator will authorize FSA county committees, with FSA State committee concurrence, to adjust NAMP for a county or part of a county: (1) To reflect the average quality discounts applied to the local or regional market price of a crop due to a reduction in the intrinsic characteristics of the production resulting from adverse weather, as determined annually by the State office of the FSA; or (2) To account for a crop for which the value is reduced due to excess moisture resulting from a disaster related condition. (3) For adjustments specified in paragraphs (a)(1) and (a)(2) of this section, an adjustment factor that represents the regional or local price received for the crop in the county will be calculated by the FSA State committee. The adjustment factor will be based on the average actual market price compared to NAMP. (b) For adjustments made under paragraph (a) of this section, participants must provide verifiable evidence of actual or appraised production, clearly indicating an average loss of value caused by poor quality or excessive moisture that meets or exceeds the quality adjustment for the county or part of a county established in paragraph (a)(3) of this section to be eligible to receive the VerDate Nov<24>2008 10:44 Dec 24, 2009 Jkt 220001 quality-adjusted NAMP as part of their SURE payment calculation. In order to be considered at all for the purpose of quality adjustments, the verifiable evidence of production must itself detail the extent of the quality loss for a specific quantity. With regard to test evidence, in addition to meeting all the requirements of this section, tests must have been completed by January 1 of the year following harvest. § 760.650 Calculating SURE. (a) Subject to the provision of this subpart, SURE payments for crop losses in crop year 2008 and subsequent crop years will be calculated as the amount equal to 60 percent of the difference between: (1) The SURE guarantee, as specified in § 760.631, 760.633 or 760.634 of this subpart, and (2) The total farm revenue, as specified in § 760.635. (b) In addition to the other provisions of this subpart and subpart B of this part, SURE payments may be adjusted downward as necessary to insure compliance with the payment limitations in subpart B and to insure that payments do not exceed the maximum amount specified in § 760.108(a)(1) or (b)(1) or otherwise exceed the perceived intent of 19 U.S.C. 2497(j). Such adjustments can include, but are not limited to, adjustments to insure that there is no duplication of benefits as specified in § 760.108(c). Signed in Washington, DC, December 18, 2009. Jonathan W. Coppess, Administrator, Farm Service Agency. [FR Doc. E9–30632 Filed 12–22–09; 4:15 pm] BILLING CODE 3410–05–P NUCLEAR REGULATORY COMMISSION 10 CFR Part 50 Domestic Licensing of Production and Utilization Facilities CFR Correction In Title 10 of the Code of Federal Regulations, Parts 1 to 50, revised as of January 1, 2009, on page 913, in § 50.72, reinstate the text of footnote 1 to read as follows: 1 Other requirements for immediate notification of the NRC by licensed operating nuclear power reactors are contained elsewhere in this chapter, in particular §§ 20.1906, 20.2202, 50.36, 72.216, and 73.71. [FR Doc. E9–30739 Filed 12–24–09; 8:45 am] BILLING CODE 1505–01–D PO 00000 Frm 00022 Fmt 4700 Sfmt 4700 FEDERAL RESERVE SYSTEM 12 CFR Part 203 [Regulation C; Docket No. 1379] Home Mortgage Disclosure AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule; staff commentary. SUMMARY: The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure) to reflect no change in the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPIW). The exemption threshold remains $39 million. The CPIW decreased by 0.98 percent during the twelve-month period ending in November 2009, but this change is too small to warrant any reduction in the exemption threshold pursuant to Regulation C. Therefore, depository institutions with assets of $39 million or less as of December 31, 2009 are exempt from collecting data in 2010. DATES: Effective January 1, 2010. FOR FURTHER INFORMATION CONTACT: John C. Wood, Counsel, Division of Consumer and Community Affairs, at (202) 452–3667; for users of Telecommunications Device for the Deaf (TDD) only, contact (202) 263–4869. SUPPLEMENTARY INFORMATION: The Home Mortgage Disclosure Act (HMDA; 12 U.S.C. 2801 et seq.) requires most mortgage lenders located in metropolitan areas to collect data about their housing-related lending activity. Annually, lenders must report those data to their federal supervisory agencies and make the data available to the public. The Board’s Regulation C (12 CFR part 203) implements HMDA. Prior to 1997, HMDA exempted depository institutions with assets totaling $10 million or less, as of the preceding year-end. Provisions of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (codified at 12 U.S.C. 2808(b)) amended HMDA to expand the exemption for small depository institutions. The statutory amendment increased the asset-size exemption threshold by requiring a one-time adjustment of the $10 million figure based on the percentage by which the CPIW for 1996 exceeded the CPIW for 1975, and it provided for annual adjustments thereafter based on the annual percentage increase in the CPIW. The E:\FR\FM\28DER1.SGM 28DER1 Federal Register / Vol. 74, No. 247 / Monday, December 28, 2009 / Rules and Regulations one-time adjustment increased the exemption threshold to $28 million for 1997 data collection. Section 203.2(e)(1)(i) of Regulation C provides that the Board will adjust the threshold based on the year-to-year change in the average of the CPIW, not seasonally adjusted, for each twelvemonth period ending in November, rounded to the nearest million dollars. Pursuant to this section, the Board has adjusted the threshold annually, as appropriate. For 2009, the threshold was $39 million. During the twelve-month period ending in November 2009, the CPIW decreased by 0.98 percent. That decrease results in a new threshold, before rounding, of about $38.62 million dollars, which must be rounded to the nearest million dollars pursuant to Regulation C. As a result, the exemption threshold remains $39 million. Thus, depository institutions with assets of $39 million or less as of December 31, 2009 are exempt from collecting data in 2010. An institution’s exemption from collecting data in 2010 does not affect its responsibility to report data it was required to collect in 2009. Final Rule Under the Administrative Procedures Act, notice and opportunity for public comment are not required if the Board finds that notice and public comment are unnecessary. 5 U.S.C. 553(b)(B). The amendment in this notice is technical. Comment 2(e)-2 is amended to update the exemption threshold. This amendment merely applies the formula established by Regulation C for determining any adjustments to the exemption threshold. For these reasons, the Board has determined that publishing a notice of proposed rulemaking and providing opportunity for public comment are unnecessary. Therefore, the amendment is adopted in final form. List of Subjects in 12 CFR Part 203 Banks, Banking, Federal Reserve System, Mortgages, Reporting and recordkeeping requirements. ■ For the reasons set forth in the preamble, the Board amends 12 CFR part 203 as follows: erowe on DSK5CLS3C1PROD with RULES PART 203—HOME MORTGAGE DISCLOSURE (REGULATION C) Supplement I to Part 203—Staff Commentary * * * * * 14 CFR Part 39 [Docket No. FAA–2009–0938 Directorate Identifier 2009–CE–052–AD; Amendment 39–16140; AD 2009–26–05] * * * * 2(e) Financial institution. * * * * * 2. Adjustment of exemption threshold for depository institutions. For data collection in 2010, the asset-size exemption threshold is $39 million. Depository institutions with assets at or below $39 million as of December 31, 2009 are exempt from collecting data for 2010. * * * * * By order of the Board of Governors of the Federal Reserve System, acting through the Director of the Division of Consumer and Community Affairs under delegated authority, December 18, 2009. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E9–30603 Filed 12–24–09; 8:45 am] BILLING CODE 6210–01–P FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 360 Resolution and Receivership Rules CFR Correction In Title 12 of the Code of Federal Regulations, Parts 300 to 499, revised as of January 1, 2009, make the following corrections: In Appendix C to Part 360, on page 522, in the table, in the first column, add the numbers 1, 2, 3, 4, 1, 2, 3 at the end of entries 17 through 23, respectively, and on page 523, in the same table, in the first column, add the numbers 1 through 6 at the end of entries 28 through 33, respectively. In Appendix F to Part 360, on page 528, in the table, in the first column, add the numbers 1 and 2 at the end of entries 4 and 5, respectively; and on page 529, in the same table, in the first column, add the numbers 1, 2, 1, 2, 3, 1, 2 at the end of entries 13 through 19, respectively. BILLING CODE 1505–01–D Authority: 12 U.S.C. 2801–2810. 2. In Supplement I to part 203, under Section 203.2 Definitions, 2(e) Financial institution, paragraph 2(e)-2 is revised to read as follows: 10:44 Dec 24, 2009 Jkt 220001 Federal Aviation Administration * ■ VerDate Nov<24>2008 DEPARTMENT OF TRANSPORTATION Section 203.2 Definitions [FR Doc. E9–30738 Filed 12–24–09; 8:45 am] 1. The authority citation for part 203 continues to read as follows: ■ 68499 PO 00000 RIN 2120–AA64 Airworthiness Directives; PILATUS Aircraft Ltd. Model PC–7 Airplanes AGENCY: Federal Aviation Administration (FAA), Department of Transportation (DOT). ACTION: Final rule. SUMMARY: We are adopting a new airworthiness directive (AD) for the products listed above. This AD results from mandatory continuing airworthiness information (MCAI) issued by an aviation authority of another country to identify and correct an unsafe condition on an aviation product. The MCAI describes the unsafe condition as: This Airworthiness Directive (AD) is prompted due to the discovery of cracks caused by stress corrosion in the main-gear support struts. All the main-gear support struts that had cracks were made from material AA2024–T351 which has a lower resistance to stress corrosion cracking. Such cracks, if undetected, could lead to the failure of the strut during landing which could then cause the Main Landing Gear (MLG) to collapse. We are issuing this AD to require actions to correct the unsafe condition on these products. DATES: This AD becomes effective February 1, 2010. On February 1, 2010, the Director of the Federal Register approved the incorporation by reference of certain publications listed in this AD. ADDRESSES: You may examine the AD docket on the Internet at http:// www.regulations.gov or in person at Document Management Facility, U.S. Department of Transportation, Docket Operations, M–30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590. FOR FURTHER INFORMATION CONTACT: Doug Rudolph, Aerospace Engineer, FAA, Small Airplane Directorate, 901 Locust, Room 301, Kansas City, Missouri 64106; telephone: (816) 329– 4059; fax: (816) 329–4090; e-mail: doug.rudolph@faa.gov. SUPPLEMENTARY INFORMATION: Discussion We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR Frm 00023 Fmt 4700 Sfmt 4700 E:\FR\FM\28DER1.SGM 28DER1

Agencies

[Federal Register Volume 74, Number 247 (Monday, December 28, 2009)]
[Rules and Regulations]
[Pages 68498-68499]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-30603]


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FEDERAL RESERVE SYSTEM

12 CFR Part 203

[Regulation C; Docket No. 1379]


Home Mortgage Disclosure

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; staff commentary.

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SUMMARY: The Board is publishing a final rule amending the staff 
commentary that interprets the requirements of Regulation C (Home 
Mortgage Disclosure) to reflect no change in the asset-size exemption 
threshold for depository institutions based on the annual percentage 
change in the Consumer Price Index for Urban Wage Earners and Clerical 
Workers (CPIW). The exemption threshold remains $39 million. The CPIW 
decreased by 0.98 percent during the twelve-month period ending in 
November 2009, but this change is too small to warrant any reduction in 
the exemption threshold pursuant to Regulation C. Therefore, depository 
institutions with assets of $39 million or less as of December 31, 2009 
are exempt from collecting data in 2010.

DATES: Effective January 1, 2010.

FOR FURTHER INFORMATION CONTACT: John C. Wood, Counsel, Division of 
Consumer and Community Affairs, at (202) 452-3667; for users of 
Telecommunications Device for the Deaf (TDD) only, contact (202) 263-
4869.

SUPPLEMENTARY INFORMATION: The Home Mortgage Disclosure Act (HMDA; 12 
U.S.C. 2801 et seq.) requires most mortgage lenders located in 
metropolitan areas to collect data about their housing-related lending 
activity. Annually, lenders must report those data to their federal 
supervisory agencies and make the data available to the public. The 
Board's Regulation C (12 CFR part 203) implements HMDA.
    Prior to 1997, HMDA exempted depository institutions with assets 
totaling $10 million or less, as of the preceding year-end. Provisions 
of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 
(codified at 12 U.S.C. 2808(b)) amended HMDA to expand the exemption 
for small depository institutions. The statutory amendment increased 
the asset-size exemption threshold by requiring a one-time adjustment 
of the $10 million figure based on the percentage by which the CPIW for 
1996 exceeded the CPIW for 1975, and it provided for annual adjustments 
thereafter based on the annual percentage increase in the CPIW. The

[[Page 68499]]

one-time adjustment increased the exemption threshold to $28 million 
for 1997 data collection.
    Section 203.2(e)(1)(i) of Regulation C provides that the Board will 
adjust the threshold based on the year-to-year change in the average of 
the CPIW, not seasonally adjusted, for each twelve-month period ending 
in November, rounded to the nearest million dollars. Pursuant to this 
section, the Board has adjusted the threshold annually, as appropriate.
    For 2009, the threshold was $39 million. During the twelve-month 
period ending in November 2009, the CPIW decreased by 0.98 percent. 
That decrease results in a new threshold, before rounding, of about 
$38.62 million dollars, which must be rounded to the nearest million 
dollars pursuant to Regulation C. As a result, the exemption threshold 
remains $39 million. Thus, depository institutions with assets of $39 
million or less as of December 31, 2009 are exempt from collecting data 
in 2010. An institution's exemption from collecting data in 2010 does 
not affect its responsibility to report data it was required to collect 
in 2009.

Final Rule

    Under the Administrative Procedures Act, notice and opportunity for 
public comment are not required if the Board finds that notice and 
public comment are unnecessary. 5 U.S.C. 553(b)(B). The amendment in 
this notice is technical. Comment 2(e)-2 is amended to update the 
exemption threshold. This amendment merely applies the formula 
established by Regulation C for determining any adjustments to the 
exemption threshold. For these reasons, the Board has determined that 
publishing a notice of proposed rulemaking and providing opportunity 
for public comment are unnecessary. Therefore, the amendment is adopted 
in final form.

List of Subjects in 12 CFR Part 203

    Banks, Banking, Federal Reserve System, Mortgages, Reporting and 
recordkeeping requirements.

0
For the reasons set forth in the preamble, the Board amends 12 CFR part 
203 as follows:

PART 203--HOME MORTGAGE DISCLOSURE (REGULATION C)

0
1. The authority citation for part 203 continues to read as follows:

    Authority: 12 U.S.C. 2801-2810.

0
2. In Supplement I to part 203, under Section 203.2 Definitions, 2(e) 
Financial institution, paragraph 2(e)-2 is revised to read as follows:

Supplement I to Part 203--Staff Commentary

* * * * *

Section 203.2 Definitions

* * * * *
    2(e) Financial institution.
* * * * *
    2. Adjustment of exemption threshold for depository 
institutions. For data collection in 2010, the asset-size exemption 
threshold is $39 million. Depository institutions with assets at or 
below $39 million as of December 31, 2009 are exempt from collecting 
data for 2010.
* * * * *


    By order of the Board of Governors of the Federal Reserve 
System, acting through the Director of the Division of Consumer and 
Community Affairs under delegated authority, December 18, 2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9-30603 Filed 12-24-09; 8:45 am]
BILLING CODE 6210-01-P