Release of Exposure Draft Technical Bulletins; Accounting for Oil and Gas Resources and Federal Natural Resources Other Than Oil and Gas, 3142 [2011-846]

Download as PDF 3142 Federal Register / Vol. 76, No. 12 / Wednesday, January 19, 2011 / Notices or use existing stocks until such stocks are exhausted, provided that such sale, distribution, or use is consistent with the terms of the previously approved labeling on, or that accompanied, the canceled product. Authority: Federal Advisory Committee Act, Pub. L. 92–463. List of Subjects BILLING CODE 1610–02–P Environmental protection, Pesticides and pests. Dated: January 11, 2011. Richard P. Keigwin, Jr., Director, Pesticide Re-evaluation Division, Office of Pesticide Programs. FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Release of Exposure Draft Technical Bulletins; Accounting for Oil and Gas Resources and Federal Natural Resources Other Than Oil and Gas Federal Accounting Standards Advisory Board. ACTION: Notice. mstockstill on DSKH9S0YB1PROD with NOTICES AGENCY: Board Action: Pursuant to 31 U.S.C. 3511(d), the Federal Advisory Committee Act (Pub. L. 92–463), as amended, and the FASAB Rules of Procedure, as amended in October, 2010, notice is hereby given that the Federal Accounting Standards Advisory Board (FASAB) has released Exposure Draft Technical Bulletin 2011–1, Accounting for Federal Natural Resources Other Than Oil and Gas, and an Exposure Draft that Proposes to Defer the Effective Date of SFFAS 38, Accounting for Federal Oil and Gas Resources. The Exposure Drafts are available on the FASAB home page https:// www.fasab.gov/exposure.html. Copies can be obtained by contacting FASAB at (202) 512–7350. Respondents are encouraged to comment on any part of the exposure drafts. Written comments on the Exposure Draft Technical Bulletin 2011–1 are requested by January 31, 2011. Written comments on the Exposure Draft to Defer the Effective Date of SFFAS 38 are requested by February 11, 2011. Comments on the Exposure Drafts should be sent to: Wendy M. Payne, Executive Director, Federal Accounting Standards Advisory Board, 441 G Street, NW., Suite 6814, Mail Stop 6K17V, Washington, DC 20548. VerDate Mar<15>2010 17:04 Jan 18, 2011 Jkt 223001 FEDERAL HOUSING FINANCE AGENCY Notice of Annual Adjustment of the Cap on Average Total Assets That Defines Community Financial Institutions BILLING CODE 6560–50–P Wendy Payne, Executive Director, at (202) 512–7350. [FR Doc. 2011–846 Filed 1–18–11; 8:45 am] [No. 2011–N–01] [FR Doc. 2011–936 Filed 1–18–11; 8:45 am] FOR FURTHER INFORMATION CONTACT: Dated: January 11, 2011. Charles Jackson, Federal Register Liaison Officer. Federal Housing Finance Agency. ACTION: Notice. AGENCY: The Federal Housing Finance Agency (FHFA) has adjusted the cap on average total assets that defines a ‘‘Community Financial Institution’’ based on the annual percentage increase in the Consumer Price Index for all urban consumers (CPI–U) as published by the Department of Labor (DOL). These changes took effect on January 1, 2011. FOR FURTHER INFORMATION CONTACT: Patricia L. Sweeney, Division of Federal Home Loan Bank Regulation, 202–408– 2872, Pat.Sweeney@fhfa.gov, Federal Housing Finance Agency, 1625 Eye Street NW., Washington, DC 20006– 4001; Eric M. Raudenbush, Assistant General Counsel, 202–414–6421, Eric.Raudenbush@fhfa.gov, Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW., Washington, DC 20552. SUPPLEMENTARY INFORMATION: SUMMARY: I. Statutory and Regulatory Background The Federal Home Loan Bank Act (Bank Act) confers upon insured depository institutions that meet the statutory definition of a ‘‘Community Financial Institution’’ (CFI) certain advantages over non-CFI insured depository institutions in qualifying for Federal Home Loan Bank (Bank) membership, and in the purposes for which they may receive long-term advances and the collateral they may pledge to secure advances. See 12 U.S.C. 1424(a), 1430(a). Section 2(10)(A) of the Bank Act and § 1263.1 of FHFA’s regulations define a CFI as any Bank member the deposits of which are insured by the Federal Deposit Insurance Corporation and that has average total assets below a statutory cap. See 12 U.S.C. 1422(10)(A); 12 CFR 1263.1. The Bank Act was amended in PO 00000 Frm 00068 Fmt 4703 Sfmt 9990 2008 to set the statutory cap at $1 billion and to require the Director of FHFA to adjust the cap annually to reflect the percentage increase in the CPI–U, as published by the DOL, for the prior year. See 12 U.S.C. 1422(10); 12 CFR 1263.1 (defining the term CFI asset cap). For 2010, FHFA set the CFI asset cap at $1,029,000,000, which reflected a 1.8 percent increase over 2009, based upon the increase in the CPI–U between 2008 and 2009. See 75 FR 9601 (Mar. 3, 2010). II. The CFI Asset Cap for 2011 As of January 1, 2011, FHFA has increased the CFI asset cap from $1,029,000,000 to $1,040,000,000, which reflects a 1.1 percent increase in the unadjusted CPI–U from November 2009 to November 2010. The new amount was obtained by rounding to the nearest million, as has been the practice for all prior adjustments. Consistent with the practice of other Federal agencies, FHFA bases the annual adjustment to the CFI asset cap on the percentage increase in the CPI–U from November of the year prior to the preceding calendar year to November of the preceding calendar year, because the November figures represent the most recent available data as of January 1st of the current calendar year. In calculating the CFI asset cap, FHFA uses CPI–U data that have not been seasonally adjusted (i.e., the data have not been adjusted to remove the estimated effect of price changes that normally occur at the same time and in about the same magnitude every year). The DOL encourages use of unadjusted CPI–U data in applying ‘‘escalation’’ provisions such as that governing the CFI asset cap, because the factors that are used to seasonally adjust the data are amended annually, and seasonally adjusted data that are published earlier are subject to revision for up to five years following their original release. Unadjusted data are not routinely subject to revision, and previously published unadjusted data are only corrected when significant calculation errors are discovered. Dated: January 11, 2011. Edward J. DeMarco, Acting Director, Federal Housing Finance Agency. [FR Doc. 2011–991 Filed 1–18–11; 8:45 am] BILLING CODE 8070–01–P E:\FR\FM\19JAN1.SGM 19JAN1

Agencies

Federal Accounting Standards Advisory Board

[Federal Register Volume 76, Number 12 (Wednesday, January 19, 2011)]
[Notices]
[Page 3142]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-846]


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FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD


Release of Exposure Draft Technical Bulletins; Accounting for Oil 
and Gas Resources and Federal Natural Resources Other Than Oil and Gas

AGENCY: Federal Accounting Standards Advisory Board.

ACTION: Notice.

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    Board Action: Pursuant to 31 U.S.C. 3511(d), the Federal Advisory 
Committee Act (Pub. L. 92-463), as amended, and the FASAB Rules of 
Procedure, as amended in October, 2010, notice is hereby given that the 
Federal Accounting Standards Advisory Board (FASAB) has released 
Exposure Draft Technical Bulletin 2011-1, Accounting for Federal 
Natural Resources Other Than Oil and Gas, and an Exposure Draft that 
Proposes to Defer the Effective Date of SFFAS 38, Accounting for 
Federal Oil and Gas Resources.
    The Exposure Drafts are available on the FASAB home page https://www.fasab.gov/exposure.html. Copies can be obtained by contacting FASAB 
at (202) 512-7350.
    Respondents are encouraged to comment on any part of the exposure 
drafts. Written comments on the Exposure Draft Technical Bulletin 2011-
1 are requested by January 31, 2011. Written comments on the Exposure 
Draft to Defer the Effective Date of SFFAS 38 are requested by February 
11, 2011. Comments on the Exposure Drafts should be sent to: Wendy M. 
Payne, Executive Director, Federal Accounting Standards Advisory Board, 
441 G Street, NW., Suite 6814, Mail Stop 6K17V, Washington, DC 20548.

FOR FURTHER INFORMATION CONTACT: Wendy Payne, Executive Director, at 
(202) 512-7350.

    Authority: Federal Advisory Committee Act, Pub. L. 92-463.

    Dated: January 11, 2011.
Charles Jackson,
Federal Register Liaison Officer.
[FR Doc. 2011-846 Filed 1-18-11; 8:45 am]
BILLING CODE 1610-02-P

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