Proposed Rule: Economic Growth and Regulatory Paperwork Reduction Act Implementation: Burden Reduction Recommendations

46779
Proposed Rules Federal Register

Vol. 70, No. 154
Thursday, August 11, 2005
This section of the FEDERAL REGISTER 36055–36060). Due to a computer System (Board); Federal Deposit
contains notices to the public of the proposed system upgrade in FSA, some e-mail Insurance Corporation (FDIC); and
issuance of rules and regulations. The addresses were changed and, while the Office of Thrift Supervision (OTS),
purpose of these notices is to give interested original addresses still work in most Treasury.
persons an opportunity to participate in the cases, some e-mail may not be received
rule making prior to the adoption of the final ACTION: Notice of regulatory review;
by the correct person. Accordingly, in
rules. request for comments.
the proposed rule, in the first column,
in the ADDRESSES section, the e-mail
SUMMARY: The OCC, Board, FDIC, and
DEPARTMENT OF AGRICULTURE address shown,
‘‘Tracy_Jones@wdc.usda.gov’’ is OTS (‘‘we’’ or ‘‘the Agencies’’) are
reviewing our regulations to identify
Farm Service Agency corrected to read
‘‘Tracy.Jones@wdc.usda.gov.’’ outdated, unnecessary, or unduly
(2) As a result of the correction, this burdensome regulatory requirements
7 CFR Part 762
document also extends the comment pursuant to the Economic Growth and
RIN 0560–AG46 Regulatory Paperwork Reduction Act of
period until September 6, 2005 in order
to ensure that the public can submit 1996 (EGRPRA). Today, we request your
Interest Assistance Program comments and suggestions on ways to
timely comments.
AGENCY: Farm Service Agency, USDA. reduce burden in rules we have
Signed in Washington, DC, on August 5, categorized as Banking Operations;
ACTION: Proposed rule; correction and
2005.
extension of comment period. Directors, Officers and Employees; and
Thomas B. Hofeller, Rules of Procedure. All comments are
SUMMARY: This document corrects the e- Acting Administrator, Farm Service Agency. welcome. We specifically invite
mail address for submission of public [FR Doc. 05–15864 Filed 8–10–05; 8:45 am] comment on the following issues:
comments on the proposed rule BILLING CODE 3410–05–P whether statutory changes are needed;
regarding the Farm Service Agency’s whether the regulations contain
(FSA’s) Interest Assistance Program requirements that are not needed to
published June 22, 2005, and extends DEPARTMENT OF THE TREASURY serve the purposes of the statutes they
the comment period to ensure that all implement; the extent to which the
public comments are received by the Office of the Comptroller of the regulations may adversely affect
Agency. The original comment period Currency competition; whether the cost of
for the proposed rule closes on August compliance associated with reporting,
22, 2005, and FSA is extending it until 12 CFR Chap. I recordkeeping, and disclosure
September 6, 2005. Respondents who requirements, particularly on small
[Docket No. 05–15]
sent comments to the earlier e-mail institutions, is justified; whether any
address are encouraged to contact the BOARD OF GOVERNORS OF THE regulatory requirements are inconsistent
person named below to find out if their FEDERAL RESERVE SYSTEM or redundant; and whether any
comments were received and re-submit regulations are unclear.
them to the e-mail address below if 12 CFR Chap. II
necessary. We will analyze the comments
[Docket No. OP–1232] received and propose burden-reducing
DATES: The comment due date for the changes to our regulations where
proposed rule published June 22, 2005 FEDERAL DEPOSIT INSURANCE appropriate. Some of your suggestions
(70 FR 36055), is extended from August CORPORATION for burden reduction might require
22, 2005, to September 6, 2005. legislative changes. Where legislative
FOR FURTHER INFORMATION CONTACT: 12 CFR Chap. III changes would be required, we will
Tracy L. Jones, Senior Loan Officer, consider your suggestions in
Farm Service Agency; telephone: (202) DEPARTMENT OF THE TREASURY recommending appropriate changes to
720–6771; facsimile: (202) 720–6797; E- Congress.
mail: Tracy.Jones@wdc.usda.gov. Office of Thrift Supervision
Persons with disabilities who require DATES: Written comments must be
alternative means for communication 12 CFR Chap. V received no later than November 9,
(Braille, large print, audio tape, etc.) 2005.
should contact the USDA Target Center [No. 2005–26]
at (202) 720–2600 (voice and TDD). All ADDRESSES: You may submit comments
Request for Burden Reduction by any of the following methods:
comments and supporting documents
Recommendations; Rules Relating to EGRPRA Web site: http://
on this rule may be viewed by
Banking Operations; Directors, www.EGRPRA.gov.
contacting the information contact. All
Officers and Employees; and Rules of
comments received, including names • Comments submitted at the
Procedure; Economic Growth and
and addresses, will become a matter of Agencies’ joint Web site will
Regulatory Paperwork Reduction Act
public record. automatically be distributed to all the
of 1996 Review
SUPPLEMENTARY INFORMATION: (1) This Agencies. Comments received at the
document corrects the proposed rule AGENCIES: Office of the Comptroller of EGRPRA Web site and by other means
regarding FSA’s Interest Assistance the Currency (OCC), Treasury; Board of will be posted on the Web site to the
Program published June 22, 2005 (70 FR Governors of the Federal Reserve extent possible.
VerDate jul<14>2003 14:00 Aug 10, 2005 Jkt 205001 PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 E:\FR\FM\11AUP1.SGM 11AUP1
46780 Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules
Individual agency addresses: You are • Mail: Robert E. Feldman, Executive • John C. Wood, Counsel, Division of
also welcome to submit comments to Secretary, Federal Deposit Insurance Consumer and Community Affairs, (202)
the Agencies at the following contact Corporation, 550 17th Street, NW., 452–2412.
points (due to delays in paper mail Washington, DC 20429. • Kevin H. Wilson, Supervisory
delivery in the Washington area, • Hand Delivery: Comments may be Financial Analyst, Division of Banking
commenters may prefer to submit their hand delivered to the guard station at Supervision and Regulation, (202) 452–
comments by alternative means): the rear of the 550 17th Street Building 2362.
OCC: You may submit comments, (located on F Street) on business days • For users of Telecommunications
identified by [docket ##], by any of the between 7 a.m. and 5 p.m. Device for the Deaf (TDD) only, contact
following methods: Public Inspection: You may inspect (202) 263–4869.
• E-mail: comments at the FDIC Public
regs.comments@occ.treas.gov. Include FDIC
Information Center, Room 100, 801 17th
[docket ##] in the subject line of the Street, NW., between 9 a.m. and 4:30 • Claude A. Rollin, Special Assistant
message. Please include your name and p.m. on business days. to the Vice Chairman, (202) 898–8741.
address. OTS: You may submit comments, • Steven D. Fritts, Associate Director,
• Fax: (202) 874–4448. Division of Supervision and Consumer
• Mail: Public Information Room, identified by ‘‘No. ##.’’ by any of the
following methods: Protection, (202) 898–3723.
Office of the Comptroller of the • Ruth R. Amberg, Senior Counsel,
Currency, 250 E Street, SW., Mailstop • Federal eRulemaking Portal: http://
www.regulations.gov. Follow the Legal Division, (202) 898–3736.
1–5, Washington, DC 20219. Attention: • Susan van den Toorn, Counsel,
Docket ##. instructions for submitting comments.
• E-Mail: Legal Division, (202) 898–8707.
Public Inspection: You may inspect
and photocopy comments at the Public regs.comments@ots.treas.gov. Include OTS
Information Room. You can make an ‘‘No. ##’’ in the subject line of the • Glenn Gimble, Senior Project
appointment to inspect the comments message, and provide your name and Manager, Thrift Policy, Supervision
by calling (202) 874–5043. telephone number. Policy, (202) 906–7158.
Board: You may submit comments, • Fax: (202) 906–6518. • Josephine Battle, Program Analyst,
identified by Docket Number ##, by any • Mail: Regulation Comments, Chief Thrift Policy, Supervision Policy, (202)
of the following methods: Counsel’s Office, Office of Thrift 906–6870.
• Agency Web site: http:// Supervision, 1700 G Street, NW., • Karen Osterloh, Special Counsel,
www.federalreserve.gov. Follow the Washington, DC 20552. Regulations and Legislation Division,
instructions for submitting comments at • Hand Delivery: Comments may be Chief Counsel’s Office, (202) 906–6639.
http://www.federalreserve.gov/ hand delivered to the Guard’s Desk, East SUPPLEMENTARY INFORMATION:
generalinfo/foia/ProposedRegs.cfm. Lobby Entrance, 1700 G Street, NW.,
• Federal eRulemaking Portal: http:// from 9 a.m. to 4 p.m. on business days, I. Overview of the EGRPRA Review and
www.regulations.gov. Follow the Attention: Regulation Comments, Chief the Steps Taken So Far
instructions for submitting comments. Counsel’s Office. The Agencies 1 are asking for your
• E-mail: Public Inspection: OTS will post
regs.comments@federalreserve.gov. comments and suggestions on ways in
comments and the related index on the which we can reduce regulatory burden
Include docket number in the subject OTS Internet Site at http://
line of the message. consistent with our statutory
www.ots.treas.gov/ obligations. Today, we request your
• Fax: (202) 452–3819 or (202) 452– pagehtml.cfm?catNumber=67&an=1. In
3102. input to help us identify which
• Mail: Jennifer J. Johnson, Secretary, addition, you may inspect comments at regulatory requirements in three
Board of Governors of the Federal the Public Reading Room, 1700 G Street, categories—Banking Operations;
Reserve System, 20th Street and NW., by appointment. To make an Directors, Officers and Employees; and
Constitution Avenue, NW., Washington, appointment for access, call (202) 906– Rules of Procedure—are outdated,
DC 20551. 5922, send an e-mail to unnecessary, or unduly burdensome.
All public comments are available public.info@ots.treas.gov, or send a fax We list the rules in these categories in
from the Board’s Web site at http:// to (202) 906–7755. (Please identify the a chart at the end of this notice. Please
www.federalreserve.gov/generalinfo/ material you would like to inspect to send us your recommendations at our
foia/ProposedRegs.cfm, as submitted, assist us in serving you.) OTS schedules Web site, http://www.EGRPRA.gov, or to
except as necessary for technical appointments on business days between one of the listed addresses.
reasons. Accordingly, your comments 10 a.m. and 4 p.m. In most cases, Today’s request for comment is the
will not be edited to remove any appointments will be available the next fifth notice in our multi-year review of
identifying or contact information. business day following the date OTS regulations for burden reduction
Public comments may also be viewed receives a request. required by section 2222 of EGRPRA.2
electronically or in paper in Room MP– FOR FURTHER INFORMATION CONTACT: We described the EGRPRA review’s
500 of the Board’s Martin Building (20th OCC requirements in our first EGRPRA
and C Streets, NW.) between 9 a.m. and notice. In summary, EGRPRA requires
5 p.m. on weekdays. • Heidi Thomas, Special Counsel, us to:
FDIC: You may submit comments, Legislative and Regulatory Activities
identified as EGRPRA burden reduction Division, (202) 874–5090. 1 The National Credit Union Administration has
comments, by any of the following • Lee Walzer, Counsel, Legislative participated in planning the EGRPRA review but
and Regulatory Activities Division, has issued, and will issue, requests for comment
methods: separately.
• Agency Web site: http:// (202) 874–5090. 2 Public Law 104–208, Sept. 30, 1996, 12 U.S.C.
www.fdic.gov/regulations/laws/federal/ Board: 3311. We published our first notice in the Federal
propose.html. • Patricia A. Robinson, Assistant Register on June 16, 2003, at 68 FR 35589; our
• E-mail: comments@fdic.gov. General Counsel, Legal Division, (202) second notice on January 21, 2004, at 69 FR 2852;
Include ‘‘EGRPRA burden reduction our third notice on July 20, 2004, at 69 FR 43347;
452–3005. and our fourth notice on February 3, 2005, at 70 FR
comment’’ in the subject line of the • Michael J. O’Rourke, Counsel, Legal 5571. You may view the notices at our Web site,
message. Division, (202) 452–3288. http://www.EGRPRA.gov.
Federal Register / Vol. 70, No. 154 / Thursday, August 11, 2005 / Proposed Rules 46781
• Categorize our regulations by type. meetings. The Agencies also have held redundant, conflicting or unduly
• Publish the regulations by category three outreach meetings with over 100 burdensome requirements? (2) Are there
to request comments on which participants for representatives of less burdensome alternatives?
regulations contain requirements that consumer and community groups to
B. Need and purpose of the
are: outdated, unnecessary, or unduly obtain their input on regulatory burden
regulations. (1) Are the regulations
burdensome. reduction. The consumer meetings were
• Publish a summary of those consistent with the purposes of the
held in Arlington, Virginia, San
comments. Francisco, and Chicago. Another statutes that they implement? (2) Have
• Eliminate unnecessary regulations consumer meeting is scheduled for circumstances changed so that a rule is
to the extent appropriate. September, 2005 in Boston. These no longer necessary or needs revision?
• Report to Congress: summarizing meetings have helped focus our (3) Do changes in the financial products
the significant issues raised and their regulatory burden reduction efforts. We and services offered to consumers and
relative merits and analyzing whether anticipate holding additional outreach businesses suggest a need to revise
legislative change is required to reduce events this year. You may learn more certain regulations (or statutes)? (4) Do
burden. about the meetings and related any of the regulations impose
The first publication and review cycle recommendations at our EGRPRA Web compliance burdens not required by the
must be completed by September 2006. site, http://www.EGRPRA.gov. statutes they implement?
The regulatory response and report to We received 19 comments in response C. General approach/flexibility. (1)
Congress will occur after the publication to the first notice, about 560 to the Would a different general approach to
cycle is finished. second notice, over 100 to the third regulating achieve statutory goals with
We have identified 13 categories of notice, and 123 to the fourth notice. The less burden? (2) Do any of these rules
rules to implement our EGRPRA review. Agencies appreciate the response to our
impose unnecessarily inflexible
The categories are: Applications and notices and outreach meetings. The
Reporting; Banking Operations; Capital; requirements?
written comments and remarks at the
Community Reinvestment Act; meetings came from individuals, banks, D. Effect of the regulations on
Consumer Protection: Lending Related savings associations, holding competition. Do any of the regulations
Rules; Consumer Protection: Account/ companies, industry trade groups, and or statutes create competitive
Deposit Relationships and consumer and community groups. You disadvantages for insured depository
Miscellaneous Consumer Rules; may view the comments at our EGRPRA institutions compared to the rest of the
Directors, Officers and Employees; Web site, http://www.EGRPRA.gov. We financial services industry or
International Operations; Money are actively reviewing the feedback competitive disadvantages for one type
Laundering; Powers and Activities; received about specific ways to reduce of insured depository institution over
Rules of Procedure; Safety and regulatory burden, as well as conducting another?
Soundness; and Securities. You may see our own analyses.
the categories and the rules placed In addition, Congress has considered E. Reporting, recordkeeping, and
within them at our Web site, http:// various legislative proposals to reduce disclosure requirements. (1) Which
www.EGRPRA.gov. burden on the financial services reporting, recordkeeping, or disclosure
We previously requested public industry. In 2004 and 2005, requirements impose the most
comment about possible burden representatives of the Agencies and compliance burdens? (2) Are any of the
reduction in eight categories of rules. industry leaders testified before reporting or recordkeeping requirements
Our June 16, 2003, notice requested congressional committees about these unnecessary to demonstrate compliance
comment on three categories: legislative reform proposals and other with the law?
Applications and Reporting; Powers and ideas for reducing burden on the F. Consistency and redundancy. (1)
Activities; and International Operations. financial services industry. We will Are any of the requirements under one
Our January 21, 2004, notice requested continue to post information about regulation inconsistent with or
comment on Consumer Protection: legislative and regulatory reform efforts duplicative of requirements under
Lending Related Rules. Our July 20, on our Web site. another regulation? (2) If so, are the
2004, notice requested comment on inconsistencies not warranted by the
Consumer Protection: Account/Deposit II. Request for Comment on Rules
Related to: Banking Operations; purposes of the regulations?
Relationships and Miscellaneous
Consumer Rules. Our February 3, 2005, Directors, Officers and Employees; and G. Clarity. Are any of the regulations
notice requested comment about three Rules of Procedure drafted unclearly?
categories: Money Laundering, Safety Today, we are asking the public to H. Burden on small insured
and Soundness, and Securities. Today, identify ways in which the rules related institutions. We have particular interest
we request comment on rules related to to Banking Operations; Directors, in minimizing burden on small insured
Banking Operations; Directors, Officers Officers and Employees; and Rules of institutions (those with assets of $150
and Employees; and Rules of Procedure. Procedure may be outdated, million or less). Are there appropriate
In addition to soliciting written unnecessary, or unduly burdensome. As ways to amend these rules to minimize
comments, we held banker outreach shown on the chart at the end of this adverse economic impact on small
meetings in Orlando, St. Louis, Denver, notice, there are 28 regulations in these insured institutions?
San Francisco, New York City, categories.
Nashville, Seattle, Chicago, Phoenix, Specific issues to consider. While all The Agencies appreciate the efforts of
and New Orleans to hear directly from comments are welcome, we specifically all interested parties to help us
the industry about ways the Agencies invite comment on the following issues: eliminate outdated, unnecessary, or
could reduce regulatory burden. More A. Need for statutory change. (1) Do unduly burdensome regulatory
than 450 representatives from the any statutory requirements underlying requirements.
industry have attended the outreach the rules impose unnecessary, BILLING CODE 4810–33; 6210–01; 6714–01; 6720–01–P
EP11AU05.021</GPH>
EP11AU05.022</GPH>
EP11AU05.023</GPH>
Dated: July 18, 2005. DEPARTMENT OF TRANSPORTATION applicable airworthiness regulations do

Julie L. Williams, not contain adequate or appropriate
Acting Comptroller of the Currency. Federal Aviation Administration safety standards for this design feature.
These proposed special conditions
By order of the Board of Governors of the 14 CFR Part 25 contain the additional safety standards
Federal Reserve System on August 1, 2005. that the Administrator considers
[Docket No. NM323; Notice No. 25–05–18–
Jennifer J. Johnson, SC] necessary to establish a level of safety
Secretary of the Board. equivalent to that established by the
Special Conditions: Boeing Model 747– existing airworthiness standards.
By order of the Board of Directors. 400 Airplane; Large Non-Structural DATES: Comments must be received on
Federal Deposit Insurance Corporation. Glass in the Passenger Compartment or before September 12, 2005.
Dated at Washington, DC, this 19th day of AGENCY: Federal Aviation ADDRESSES: Comments on this proposal
July, 2005. Administration (FAA), DOT. may be mailed in duplicate to: Federal
Robert E. Feldman, ACTION: Notice of proposed special
Aviation Administration, Transport
Executive Secretary. conditions. Airplane Directorate, Attention: Rules
Docket (ANM–113), Docket No. NM323,
Dated: July 19, 2005. SUMMARY: This action proposes special 1601 Lind Avenue SW., Renton,
Richard M. Riccobono, conditions for a Boeing Model 747–400 Washington 98055–4056; or delivered in
Acting Director, Office of Thrift Supervision. airplane modified by Lufthansa Technik duplicate to the Transport Airplane
[FR Doc. 05–15923 Filed 8–10–05; 8:45 am] AG. This airplane will have a novel or Directorate at that address. All
unusual design feature associated with comments must be marked: Docket No.
BILLING CODE 4810–33; 6210–01; 6714–01; 6720–01–C
the installation of large non-structural NM323. Comments may be inspected in
glass items in the cabin area of an the Rules Docket weekdays, except
executive interior occupied by Federal holidays, between 7:30 a.m. and
passengers and crew. The proposed 4 p.m.
installation of these items in a passenger FOR FURTHER INFORMATION CONTACT:
compartment, which can be occupied Alan Sinclair, Airframe/Cabin Safety
during taxi, takeoff, and landing, is a Branch, ANM–115, Transport Airplane
novel or unusual design feature with Directorate, Aircraft Certification
EP11AU05.024</GPH>
respect to the material used. The Service, 1601 Lind Avenue SW.,

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46779

Proposed Rules Federal Register

Thursday, August 11, 2005

Dated: July 18, 2005. DEPARTMENT OF TRANSPORTATION applicable airworthiness regulations do

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