April 11, 2016 – Federal Register Recent Federal Regulation Documents

The Board of Governors of the Federal Reserve System (Board) is adopting a final rule that amends the Board's liquidity coverage ratio rule and modified liquidity coverage ratio rule (together, LCR rule) to include certain U.S. municipal securities as high-quality liquid assets (HQLA). This final rule includes as level 2B liquid assets under the LCR rule general obligation securities of a public sector entity (i.e., securities backed by the full faith and credit of a U.S. state or municipality) that meet similar criteria as corporate debt securities that are included as level 2B liquid assets, subject to limitations that are intended to address the structure of the U.S. municipal securities market. The final rule applies to all Board- regulated institutions that are subject to the LCR rule: Bank holding companies, certain savings and loan holding companies, and state member banks that, in each case, have $250 billion or more in total consolidated assets or $10 billion or more in on-balance sheet foreign exposure; state member banks with $10 billion or more in total consolidated assets that are consolidated subsidiaries of bank holding companies described in the first instance; nonbank financial companies designated by the Financial Stability Oversight Council for Board supervision to which the Board has applied the LCR rule by separate rule or order; and bank holding companies and certain savings and loan holding companies, in each case with $50 billion or more in total consolidated assets, but that do not meet the thresholds described in the first through third instances, which are subject to the Board's modified liquidity coverage ratio rule.

We are superseding Airworthiness Directive (AD) 97-20-07 for certain Airbus Model A300 B4-600, B4-600R, and F4-600R series airplanes, and Model A300 C4-605R Variant F airplanes (collectively called Model A300-600 series airplanes). AD 97-20-07 required repetitive inspections to detect fatigue cracking in the left and right wings in the area where the top skin attaches to the center spar, and repair or modification of this area if necessary. This new AD reduces the inspection compliance time and repetitive inspection intervals. This AD was prompted by a determination that the inspection compliance time and repetitive inspection interval must be reduced to allow timely detection of fatigue cracking in the left and right wings in the area where the top skin attaches to the center spar. We are issuing this AD to detect and correct this fatigue cracking, which could reduce the residual strength of the top skin of the wings, and consequently affect the structural integrity of the airframe.

We are adopting a new airworthiness directive (AD) for certain Dassault Aviation Model FALCON 7X airplanes. This AD was prompted by a fuel leak that occurred in the baggage compartment during fuel system pressurization. This AD requires opening the fuel boxes and restoring the sealing. We are issuing this AD to prevent failure of a connector or coupling on a fuel line, which, in combination with a leak in the corresponding enclosure (i.e., fuel box), could result in a fire in the baggage compartment and affect the safe flight of the airplane.

We are adopting a new airworthiness directive (AD) for certain Airbus Model A319, A320, and A321 series airplanes. This AD is intended to complete certain mandated programs intended to support the airplane reaching its limit of validity (LOV) of the engineering data that support the established structural maintenance program. This AD was prompted by fatigue testing that determined fatigue damage could appear on clips, shear webs, and angles at certain rear fuselage sections and certain frames. This AD requires replacing the clips, shear webs, and angles, including doing all applicable related investigative actions, and repair if necessary. We are issuing this AD to prevent fatigue damage on the clips, shear webs, and angles; such damage could affect the structural integrity of the airplane.

We are superseding Airworthiness Directive (AD) 2011-21-06 for all BAE SYSTEMS (Operations) Limited Model 4101 airplanes. AD 2011-21- 06 required revising the maintenance program. This new AD requires a new revision of the maintenance or inspection program. This AD was prompted by a determination that the life limit of certain main landing gear components must be reduced, and certain post-repair inspections of critical structure are necessary. We are issuing this AD to prevent failure of certain structurally significant items, including the main landing gear and nose landing gear, which could result in reduced structural integrity of the airplane; and to prevent fuel vapor ignition sources, which could result in a fuel tank explosion and consequent loss of the airplane.