Agencies and Commissions September 30, 2008 – Federal Register Recent Federal Regulation Documents

The FDIC is adopting an interim rule to simplify and modernize its deposit insurance rules for revocable trust accounts. The FDIC's main goal in implementing these revisions is to make the rules easier to understand and apply, without decreasing coverage currently available for revocable trust account owners. The FDIC believes that the interim rule will result in faster deposit insurance determinations after depository institution closings and will help improve public confidence in the banking system. The interim rule eliminates the concept of qualifying beneficiaries. Also, for account owners with revocable trust accounts totaling no more than $500,000, coverage will be determined without regard to the beneficial interest of each beneficiary in the trust. Under the new rules, a trust account owner with up to five different beneficiaries named in all his or her revocable trust accounts at one FDIC-insured institution will be insured up to $100,000 per beneficiary. Revocable trust account owners with more than $500,000 and more than five different beneficiaries named in the trust(s) will be insured for the greater of either: $500,000 or the aggregate amount of all the beneficiaries' interests in the trust(s), limited to $100,000 per beneficiary.

The Commission is noticing a recently-filed Postal Service Global Expedited Package Service negotiated service agreement. This action is consistent with changes in a recent law governing postal operations.

The Nuclear Regulatory Commission (NRC) is noticing the completion of remediation activities at the Salmon River Uranium Development Site, near North Fork, Idaho. Background: The U.S. Atomic Energy Commission (AEC) issued Source Material License P-4001 to Salmon River Uranium Development, Inc. (SRUD) on October 10, 1958. This license authorized SRUD to possess and transfer source material. On March 30, 1959, the AEC issued Source Material License No. R-0230 to SRUD. This license authorized the receipt and possession of source material for processing. Source Material License No. R-0230 expired on June 30, 1959 and Source Material License No. P-4001 expired on October 31, 1959. Both uranium and thorium ores were processed at the site. Processing of source material occurred at two separate times, the late- 1950s and the late-1970s. Processing operations were conducted in the late-1950s in accordance with the AEC licenses. During the late-1970s, pilot plant operations were conducted at the site to determine the viability of experimental ore processing techniques. The SRUD site was placed on the NRC's Site Decommissioning Management Plan (SDMP) list in 1994. In May 2001, NRC staff visited the SRUD site and identified thorium contamination in the form of partially processed ore. In 2003, the NRC and the Oak Ridge Institute for Science and Education conducted scoping surveys of the site. During 2004 and 2005, NRC staff worked with the Idaho Department of Environmental Quality and the U.S. Environmental Protection Agency (EPA) to establish an approach for remediation of the site. EPA agreed to perform remediation activities at the SRUD site in accordance with the Comprehensive Environmental Response, Compensation and Liability Act, as amended, 42 U.S.C. 9601(14) and (33). A Removal Action Work Plan (ADAMS No. ML072880344), which specified its step-by- step process for conducting cleanup activities at the SRUD site, was developed by the EPA and approved by the NRC. The EPA's Removal Action Work Plan included the removal and disposal of hazardous chemical and radiological contaminants that may pose a threat to workers, public health and welfare, and the environment. EPA's radiological release criteria was based on a recreational use scenario for the site. Implementation of the EPA's work plan began on October 23, 2007, and was completed on June 3, 2008. Contaminated waste material above the unrestricted release criteria was shipped to licensed disposal sites. EPA's work activities summary report is documented in the Final Removal Action Report, dated September 12, 2008 (ADAMS No. ML082590288). The NRC staff conducted confirmatory radiological surveys of site structures and land areas and collected soil samples for analysis by the NRC's independent laboratory contractor to verify results obtained by EPA. Confirmatory surveys consisted of surface scans for alpha, beta and gamma radiation, direct measurements for total alpha and beta activity, collection and analysis of soil samples for thorium and uranium, and collection of smear samples for determining removable radioactivity levels. The survey information and sample results are documented in Inspection Reports 040-03400/07-01 (ADAMS No. ML080320117) and 040-03400/08-01 (ADAMS No. ML082180190). The NRC performed an independent dose assessment using the recreational scenario employed by the EPA to evaluate the EPA's cleanup criteria and evaluate the condition of the SRUD site. Based on the considerations discussed above, the Commission has concluded that: (1) Radioactive material above release limits has been properly disposed; (2) reasonable effort has been made to eliminate residual radioactive contamination; and (3) FSSs and associated documentation demonstrate that the site is suitable for unrestricted release in accordance with the criteria in 10 CFR Part 20, Subpart E. Therefore, the Salmon River site near North Fork, Idaho is suitable for unrestricted use.

This is a Notice of the Presidential declaration of a major disaster for the State of Indiana (FEMA-1795-DR), dated 09/23/2008. Incident: Severe storms and flooding. Incident Period: 09/12/2008 and continuing. Effective Date: 09/23/2008. Physical Loan Application Deadline Date: 11/24/2008. Economic Injury (EIDL) Loan Application Deadline Date: 06/23/2009.

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) (collectively, the Agencies) are proposing to permit banks, bank holding companies, and savings associations (collectively, banking organizations) to reduce the amount of goodwill that a banking organization must deduct from tier 1 capital by the amount of any deferred tax liability associated with that goodwill. The proposed change would effectively reduce the amount of goodwill that a banking organization must deduct from tier 1 capital and would reflect a banking organization's maximum exposure to loss in the event that such goodwill is impaired or derecognized for financial reporting purposes.