40478 Federal Register / Vol. 74, No. 154 / Wednesday, August 12, 2009 / Rules and Regulations
percentage change in the Consumer
Price Index (CPI) that was reported on
the preceding June 1. 15 U.S.C.
1602(aa)(3) and 12 CFR 226.32(a)(1)(ii).
The Board adjusted the $400 amount to
$583 for the year 2009.
The Bureau of Labor Statistics
publishes consumer-based indices
monthly, but does not report a CPI
change on June 1; adjustments are
reported in the middle of each month.
The Board uses the CPI–U index, which
is based on all urban consumers and
represents approximately 87 percent of
the U.S. population, as the index for
adjusting the $400 dollar figure. The
adjustment to the CPI–U index reported
by the Bureau of Labor Statistics on May
15, 2009 was the CPI–U index in effect
on June 1, and reflects the percentage
change from April 2008 to April 2009.
The adjustment to the $400 figure below
reflects a 0.74 percent decrease in the
CPI–U index for this period and is
rounded to whole dollars for ease of
compliance.
The fee trigger being adjusted in this
Federal Register notice pursuant to
TILA section 103(aa) is used in
determining whether a loan is covered
by section 226.32 of Regulation Z. Such
loans have generally been known as
‘‘HOEPA loans.’’ In July 2008, the Board
revised Regulation Z to adopt additional
protections for ‘‘higher-priced’’ loans,
using its authority under TILA section
129(l)(2). Those revisions define a class
of dwelling-secured transactions,
described in section 226.35 of
Regulation Z, using a threshold based
on average market rates that the Board
publishes on a regular basis. The
adjustment published today does not
affect the triggers issued in July 2008 for
higher-priced loans.
II. Adjustment and Commentary
Revision
Effective January 1, 2010, for purposes
of determining whether a home
mortgage transaction is covered by 12
CFR 226.32 (based on the total points
and fees payable by the consumer at or
before loan consummation), a loan is
covered if the points and fees exceed the
greater of $579 or 8 percent of the total
loan amount. Comment 32(a)(1)(ii)–2,
which lists the adjustments for each
year, is amended to reflect the dollar
adjustment for 2010. Because the timing
and method of the adjustment is set by
statute, the Board finds that notice and
public comment on the change are
unnecessary.
III. Regulatory Flexibility Analysis
The Board certifies that this
amendment to Regulation Z will not
have a significant economic impact on
a substantial number of small entities.
The only change is to lower the
threshold for transactions requiring
HOEPA disclosures. This change is
mandated by statute.
List of Subjects in 12 CFR Part 226
Advertising, Federal Reserve System,
Mortgages, Reporting and recordkeeping
requirements, Truth in lending.
■ For the reasons set forth in the
preamble, the Board amends Regulation
Z, 12 CFR part 226, as set forth below:
PART 226—TRUTH IN LENDING
(REGULATION Z)
■ 1. The authority citation for part 226
continues to read as follows:
Authority: 12 U.S.C. 3806; 15 U.S.C. 1604
and 1637(c)(5).
■ 2. In Supplement I to Part 226, under
Section 226.32—Requirements for
Certain Closed-End Home Mortgages,
under Paragraph 32(a)(1)(ii), paragraph
2. xv. is added.
Supplement I to Part 226—Official Staff
Interpretations
* * * * *
Subpart E—Special Rules for Certain
Home Mortgage Transactions
* * * * *
Section 226.32—Requirements for
Certain Closed-End Home Mortgages
32(a) Coverage
* * * * *
Paragraph 32(a)(1)(ii)
* * * * *
2. Annual adjustment of $400 amount.
* * * * *
xv. For 2010, $579, reflecting a 0.74
percent decrease in the CPI–U from June
2008 to June 2009, rounded to the nearest
whole dollar.
* * * * *
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, August 6, 2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9–19254 Filed 8–11–09; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 308 and 363
RIN 3064–AD21
Annual Independent Audits and
Reporting Requirements
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Final rule; correction.
SUMMARY: On July 20, 2009, the FDIC
published in the Federal Register a final
rule amending part 363 of its regulations
concerning annual independent audits
and reporting requirements for certain
insured depository institutions, which
implements section 36 of the Federal
Deposit Insurance Act (FDI Act), largely
as proposed, but with certain
modifications made in response to the
comments received and making a
technical amendment to its rules and
procedures (part 308, subpart U) for the
removal, suspension, or debarment of
accountants and accounting firms. The
publication of the final rule corrected
certain errors in the original publication
of the final rule, which had been
published in the Federal Register on
July 7, 2009. It has come to the attention
of the FDIC that the July 20 re-
publication included one additional
error. This correction will rectify that
oversight.
DATES: Effective Date: This correction is
effective August 6, 2009.
FOR FURTHER INFORMATION CONTACT:
Harrison E. Greene, Jr., Senior Policy
Analyst (Bank Accounting), Division of
Supervision and Consumer Protection,
at hgreene@fdic.gov or (202) 898–8905;
or Michelle Borzillo, Senior Counsel,
Corporate and Legal Operations Section,
Legal Division, at mborzillo@fdic.gov or
(202) 898–7400.
SUPPLEMENTARY INFORMATION: On July
20, 2009, the FDIC published in the
Federal Register a final rule amending
part 363 of its regulations concerning
annual independent audits and
reporting requirements for certain
insured depository institutions, which
implements section 36 of the Federal
Deposit Insurance Act (FDI Act), largely
as proposed, but with certain
modifications made in response to the
comments received and making a
technical amendment to its rules and
procedures (part 308, subpart U) for the
removal, suspension, or debarment of
accountants and accounting firms. The
July 20, 2009, publication of the final
rule corrected certain errors in the
original publication of the final rule,
which had been published in the
VerDate Nov<24>2008 16:35 Aug 11, 2009 Jkt 217001 PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 E:\FR\FM\12AUR1.SGM 12AUR1
jlentini on DSKJ8SOYB1PROD with RULES
percentage change in the Consumer
Price Index (CPI) that was reported on
the preceding June 1. 15 U.S.C.
1602(aa)(3) and 12 CFR 226.32(a)(1)(ii).
The Board adjusted the $400 amount to
$583 for the year 2009.
The Bureau of Labor Statistics
publishes consumer-based indices
monthly, but does not report a CPI
change on June 1; adjustments are
reported in the middle of each month.
The Board uses the CPI–U index, which
is based on all urban consumers and
represents approximately 87 percent of
the U.S. population, as the index for
adjusting the $400 dollar figure. The
adjustment to the CPI–U index reported
by the Bureau of Labor Statistics on May
15, 2009 was the CPI–U index in effect
on June 1, and reflects the percentage
change from April 2008 to April 2009.
The adjustment to the $400 figure below
reflects a 0.74 percent decrease in the
CPI–U index for this period and is
rounded to whole dollars for ease of
compliance.
The fee trigger being adjusted in this
Federal Register notice pursuant to
TILA section 103(aa) is used in
determining whether a loan is covered
by section 226.32 of Regulation Z. Such
loans have generally been known as
‘‘HOEPA loans.’’ In July 2008, the Board
revised Regulation Z to adopt additional
protections for ‘‘higher-priced’’ loans,
using its authority under TILA section
129(l)(2). Those revisions define a class
of dwelling-secured transactions,
described in section 226.35 of
Regulation Z, using a threshold based
on average market rates that the Board
publishes on a regular basis. The
adjustment published today does not
affect the triggers issued in July 2008 for
higher-priced loans.
II. Adjustment and Commentary
Revision
Effective January 1, 2010, for purposes
of determining whether a home
mortgage transaction is covered by 12
CFR 226.32 (based on the total points
and fees payable by the consumer at or
before loan consummation), a loan is
covered if the points and fees exceed the
greater of $579 or 8 percent of the total
loan amount. Comment 32(a)(1)(ii)–2,
which lists the adjustments for each
year, is amended to reflect the dollar
adjustment for 2010. Because the timing
and method of the adjustment is set by
statute, the Board finds that notice and
public comment on the change are
unnecessary.
III. Regulatory Flexibility Analysis
The Board certifies that this
amendment to Regulation Z will not
have a significant economic impact on
a substantial number of small entities.
The only change is to lower the
threshold for transactions requiring
HOEPA disclosures. This change is
mandated by statute.
List of Subjects in 12 CFR Part 226
Advertising, Federal Reserve System,
Mortgages, Reporting and recordkeeping
requirements, Truth in lending.
■ For the reasons set forth in the
preamble, the Board amends Regulation
Z, 12 CFR part 226, as set forth below:
PART 226—TRUTH IN LENDING
(REGULATION Z)
■ 1. The authority citation for part 226
continues to read as follows:
Authority: 12 U.S.C. 3806; 15 U.S.C. 1604
and 1637(c)(5).
■ 2. In Supplement I to Part 226, under
Section 226.32—Requirements for
Certain Closed-End Home Mortgages,
under Paragraph 32(a)(1)(ii), paragraph
2. xv. is added.
Supplement I to Part 226—Official Staff
Interpretations
* * * * *
Subpart E—Special Rules for Certain
Home Mortgage Transactions
* * * * *
Section 226.32—Requirements for
Certain Closed-End Home Mortgages
32(a) Coverage
* * * * *
Paragraph 32(a)(1)(ii)
* * * * *
2. Annual adjustment of $400 amount.
* * * * *
xv. For 2010, $579, reflecting a 0.74
percent decrease in the CPI–U from June
2008 to June 2009, rounded to the nearest
whole dollar.
* * * * *
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, August 6, 2009.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. E9–19254 Filed 8–11–09; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 308 and 363
RIN 3064–AD21
Annual Independent Audits and
Reporting Requirements
AGENCY: Federal Deposit Insurance
Corporation (FDIC).
ACTION: Final rule; correction.
SUMMARY: On July 20, 2009, the FDIC
published in the Federal Register a final
rule amending part 363 of its regulations
concerning annual independent audits
and reporting requirements for certain
insured depository institutions, which
implements section 36 of the Federal
Deposit Insurance Act (FDI Act), largely
as proposed, but with certain
modifications made in response to the
comments received and making a
technical amendment to its rules and
procedures (part 308, subpart U) for the
removal, suspension, or debarment of
accountants and accounting firms. The
publication of the final rule corrected
certain errors in the original publication
of the final rule, which had been
published in the Federal Register on
July 7, 2009. It has come to the attention
of the FDIC that the July 20 re-
publication included one additional
error. This correction will rectify that
oversight.
DATES: Effective Date: This correction is
effective August 6, 2009.
FOR FURTHER INFORMATION CONTACT:
Harrison E. Greene, Jr., Senior Policy
Analyst (Bank Accounting), Division of
Supervision and Consumer Protection,
at hgreene@fdic.gov or (202) 898–8905;
or Michelle Borzillo, Senior Counsel,
Corporate and Legal Operations Section,
Legal Division, at mborzillo@fdic.gov or
(202) 898–7400.
SUPPLEMENTARY INFORMATION: On July
20, 2009, the FDIC published in the
Federal Register a final rule amending
part 363 of its regulations concerning
annual independent audits and
reporting requirements for certain
insured depository institutions, which
implements section 36 of the Federal
Deposit Insurance Act (FDI Act), largely
as proposed, but with certain
modifications made in response to the
comments received and making a
technical amendment to its rules and
procedures (part 308, subpart U) for the
removal, suspension, or debarment of
accountants and accounting firms. The
July 20, 2009, publication of the final
rule corrected certain errors in the
original publication of the final rule,
which had been published in the
VerDate Nov<24>2008 16:35 Aug 11, 2009 Jkt 217001 PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 E:\FR\FM\12AUR1.SGM 12AUR1
jlentini on DSKJ8SOYB1PROD with RULES
40479Federal Register / Vol. 74, No. 154 / Wednesday, August 12, 2009 / Rules and Regulations
Federal Register on July 7, 2009. It has
come to the attention of the FDIC that
the July 20 re-publication failed to
include one further correction. This
publication will rectify that oversight.
The correction included in this
Federal Register document corrects an
error in the prior publication which
caused an apparent inconsistency in the
effective date.
In the the final rule, FR Doc. No.
2009–17009 published on July 20, 2009
(74 FR 35726), make the following
correction:
On page 35744, the first sentence of
the V. Effective and Compliance Dates
section is corrected to read:
Except as noted below, the final rule
is effective August 6, 2009.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. E9–19259 Filed 8–11–09; 8:45 am]
BILLING CODE 6714–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 25
[Docket No. NM400; Special Conditions No.
25–388–SC]
Special Conditions: Boeing Model 747–
8/–8F Airplanes; Interaction of
Systems and Structures
AGENCY: Federal Aviation
Administration (FAA), DOT.
ACTION: Final special conditions.
SUMMARY: These special conditions are
issued for the Boeing Model 747–8/–8F
airplanes. These airplanes will have a
novel or unusual design feature(s) that
will affect structural performance. The
applicable airworthiness regulations do
not contain adequate or appropriate
safety standards for this design feature.
These special conditions contain the
additional safety standards that the
Administrator considers necessary to
establish a level of safety equivalent to
that established by the existing
airworthiness standards.
DATES: Effective Date: September 11,
2009.
FOR FURTHER INFORMATION CONTACT:
Mark Freisthler, FAA, Airframe & Cabin
Safety Branch, ANM–115, Transport
Airplane Directorate, Aircraft
Certification Service, 1601 Lind
Avenue, SW., Renton, Washington
98057–3356; telephone (425) 227–1119;
facsimile (425) 227–1149.
SUPPLEMENTARY INFORMATION:
Background
On November 4, 2005, The Boeing
Company, PO Box 3707, Seattle, WA
98124, applied for an amendment to
Type Certificate Number A20WE to
include the new Model 747–8 passenger
airplane and the new Model 747–8F
freighter airplane. The Model 747–8 and
the Model 747–8F are derivatives of the
747–400 and the 747–400F,
respectively. Both the Model 747–8 and
the Model 747–8F are four-engine jet
transport airplanes that will have a
maximum takeoff weight of 970,000
pounds and new General Electric GEnx–
2B67 engines. The Model 747–8 will
have two flight crew and the capacity to
carry 660 passengers. The Model 747–
8F will have two flight crew and a zero
passenger capacity, although Boeing has
submitted a petition for exemption to
allow the carriage of supernumeraries.
Type Certification Basis
Under the provisions of Title 14 Code
of Federal Regulations (14 CFR) 21.101,
Boeing must show that the Model 747–
8 and 747–8F airplanes (hereafter
referred to as the 747–8/–8F) as
changed, continue to meet the
applicable provisions of 14 CFR part 25,
as amended by Amendments 25–1
through 25–117, except for earlier
amendments as agreed upon by the
FAA. These regulations will be
incorporated into Type Certificate No.
A20WE after type certification approval
of the 747–8/–8F.
If the Administrator finds that the
applicable airworthiness regulations
(i.e., part 25) do not contain adequate or
appropriate safety standards for the
747–8/–8F because of a novel or
unusual design feature, special
conditions are prescribed under the
provisions of § 21.16.
In addition to the applicable
airworthiness regulations and special
conditions, the 747–8/–8F must comply
with the fuel vent and exhaust emission
requirements of 14 CFR part 34 and the
noise certification requirements of 14
CFR part 36.
Special conditions, as defined in
§ 11.19, are issued under § 11.38, and
become part of the type certification
basis under § 21.101.
Special conditions are initially
applicable to the model for which they
are issued. Should the type certificate
for that model be amended later to
include any other model that
incorporates the same novel or unusual
design feature, or should any other
model already included on the same
type certificate be modified to
incorporate the same novel or unusual
design feature, the special conditions
would also apply to the other model
under § 21.101.
Novel or Unusual Design Features
The Boeing Model 747–8/–8F is
equipped with systems that affect the
airplane’s structural performance, either
directly or as a result of failure or
malfunction. That is, the airplane’s
systems affect how it responds in
maneuver and gust conditions, and
thereby affect its structural capability.
These systems may also affect the
aeroelastic stability of the airplane.
Such systems represent a novel and
unusual feature when compared to the
technology envisioned in the current
airworthiness standards. A special
condition is needed to require
consideration of the effects of systems
on the structural capability and
aeroelastic stability of the airplane, both
in the normal and in the failed state.
These special conditions require that
the airplane meet the structural
requirements of subparts C and D of 14
CFR part 25 when the airplane systems
are fully operative. These special
conditions also require that the airplane
meet these requirements considering
failure conditions. In some cases,
reduced margins are allowed for failure
conditions based on system reliability.
Discussion of Comments
Notice of proposed special conditions
No. 25–09–03–SC for the Boeing Model
747–8 and 747–8F airplanes was
published in the Federal Register on
April 8, 2009 (74 FR 15888). No
comments were received and the special
conditions are adopted as proposed.
Applicability
As discussed above, these special
conditions are applicable to Boeing
Model 747–8/–8F airplanes. Should
Boeing apply at a later date for a change
to the type certificate to include another
model incorporating the same novel or
unusual design features, the special
conditions would apply to that model as
well.
Conclusion
This action affects only certain novel
or unusual design features of the Boeing
Model 747–8/–8F airplanes. It is not a
rule of general applicability.
List of Subjects in 14 CFR Part 25
Aircraft, Aviation safety, Reporting
and recordkeeping requirements.
The authority citation for these
special conditions is as follows:
Authority: 49 U.S.C. 106(g), 40113, 44701,
44702, 44704.
VerDate Nov<24>2008 16:35 Aug 11, 2009 Jkt 217001 PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 E:\FR\FM\12AUR1.SGM 12AUR1
jlentini on DSKJ8SOYB1PROD with RULES
Federal Register on July 7, 2009. It has
come to the attention of the FDIC that
the July 20 re-publication failed to
include one further correction. This
publication will rectify that oversight.
The correction included in this
Federal Register document corrects an
error in the prior publication which
caused an apparent inconsistency in the
effective date.
In the the final rule, FR Doc. No.
2009–17009 published on July 20, 2009
(74 FR 35726), make the following
correction:
On page 35744, the first sentence of
the V. Effective and Compliance Dates
section is corrected to read:
Except as noted below, the final rule
is effective August 6, 2009.
Federal Deposit Insurance Corporation.
Valerie J. Best,
Assistant Executive Secretary.
[FR Doc. E9–19259 Filed 8–11–09; 8:45 am]
BILLING CODE 6714–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 25
[Docket No. NM400; Special Conditions No.
25–388–SC]
Special Conditions: Boeing Model 747–
8/–8F Airplanes; Interaction of
Systems and Structures
AGENCY: Federal Aviation
Administration (FAA), DOT.
ACTION: Final special conditions.
SUMMARY: These special conditions are
issued for the Boeing Model 747–8/–8F
airplanes. These airplanes will have a
novel or unusual design feature(s) that
will affect structural performance. The
applicable airworthiness regulations do
not contain adequate or appropriate
safety standards for this design feature.
These special conditions contain the
additional safety standards that the
Administrator considers necessary to
establish a level of safety equivalent to
that established by the existing
airworthiness standards.
DATES: Effective Date: September 11,
2009.
FOR FURTHER INFORMATION CONTACT:
Mark Freisthler, FAA, Airframe & Cabin
Safety Branch, ANM–115, Transport
Airplane Directorate, Aircraft
Certification Service, 1601 Lind
Avenue, SW., Renton, Washington
98057–3356; telephone (425) 227–1119;
facsimile (425) 227–1149.
SUPPLEMENTARY INFORMATION:
Background
On November 4, 2005, The Boeing
Company, PO Box 3707, Seattle, WA
98124, applied for an amendment to
Type Certificate Number A20WE to
include the new Model 747–8 passenger
airplane and the new Model 747–8F
freighter airplane. The Model 747–8 and
the Model 747–8F are derivatives of the
747–400 and the 747–400F,
respectively. Both the Model 747–8 and
the Model 747–8F are four-engine jet
transport airplanes that will have a
maximum takeoff weight of 970,000
pounds and new General Electric GEnx–
2B67 engines. The Model 747–8 will
have two flight crew and the capacity to
carry 660 passengers. The Model 747–
8F will have two flight crew and a zero
passenger capacity, although Boeing has
submitted a petition for exemption to
allow the carriage of supernumeraries.
Type Certification Basis
Under the provisions of Title 14 Code
of Federal Regulations (14 CFR) 21.101,
Boeing must show that the Model 747–
8 and 747–8F airplanes (hereafter
referred to as the 747–8/–8F) as
changed, continue to meet the
applicable provisions of 14 CFR part 25,
as amended by Amendments 25–1
through 25–117, except for earlier
amendments as agreed upon by the
FAA. These regulations will be
incorporated into Type Certificate No.
A20WE after type certification approval
of the 747–8/–8F.
If the Administrator finds that the
applicable airworthiness regulations
(i.e., part 25) do not contain adequate or
appropriate safety standards for the
747–8/–8F because of a novel or
unusual design feature, special
conditions are prescribed under the
provisions of § 21.16.
In addition to the applicable
airworthiness regulations and special
conditions, the 747–8/–8F must comply
with the fuel vent and exhaust emission
requirements of 14 CFR part 34 and the
noise certification requirements of 14
CFR part 36.
Special conditions, as defined in
§ 11.19, are issued under § 11.38, and
become part of the type certification
basis under § 21.101.
Special conditions are initially
applicable to the model for which they
are issued. Should the type certificate
for that model be amended later to
include any other model that
incorporates the same novel or unusual
design feature, or should any other
model already included on the same
type certificate be modified to
incorporate the same novel or unusual
design feature, the special conditions
would also apply to the other model
under § 21.101.
Novel or Unusual Design Features
The Boeing Model 747–8/–8F is
equipped with systems that affect the
airplane’s structural performance, either
directly or as a result of failure or
malfunction. That is, the airplane’s
systems affect how it responds in
maneuver and gust conditions, and
thereby affect its structural capability.
These systems may also affect the
aeroelastic stability of the airplane.
Such systems represent a novel and
unusual feature when compared to the
technology envisioned in the current
airworthiness standards. A special
condition is needed to require
consideration of the effects of systems
on the structural capability and
aeroelastic stability of the airplane, both
in the normal and in the failed state.
These special conditions require that
the airplane meet the structural
requirements of subparts C and D of 14
CFR part 25 when the airplane systems
are fully operative. These special
conditions also require that the airplane
meet these requirements considering
failure conditions. In some cases,
reduced margins are allowed for failure
conditions based on system reliability.
Discussion of Comments
Notice of proposed special conditions
No. 25–09–03–SC for the Boeing Model
747–8 and 747–8F airplanes was
published in the Federal Register on
April 8, 2009 (74 FR 15888). No
comments were received and the special
conditions are adopted as proposed.
Applicability
As discussed above, these special
conditions are applicable to Boeing
Model 747–8/–8F airplanes. Should
Boeing apply at a later date for a change
to the type certificate to include another
model incorporating the same novel or
unusual design features, the special
conditions would apply to that model as
well.
Conclusion
This action affects only certain novel
or unusual design features of the Boeing
Model 747–8/–8F airplanes. It is not a
rule of general applicability.
List of Subjects in 14 CFR Part 25
Aircraft, Aviation safety, Reporting
and recordkeeping requirements.
The authority citation for these
special conditions is as follows:
Authority: 49 U.S.C. 106(g), 40113, 44701,
44702, 44704.
VerDate Nov<24>2008 16:35 Aug 11, 2009 Jkt 217001 PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 E:\FR\FM\12AUR1.SGM 12AUR1
jlentini on DSKJ8SOYB1PROD with RULES