Notices. Notice of final order on petition to object to a state operating permit
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/register/2007/01/11/07-68A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 5001-06-M ENVIRONMENTAL PROTECTION AGENCY [FRL-8267-5] Clean Air Act Operating Permit Program; Petition for Objection to State Operating Permit for Denver Regional Landfill South, Weld County, CO AGENCY: Environmental Protection Agency (EPA). ACTION: Notice of final order on petition to object to a state operating permit. SUMMARY: This document announces that the EPA Administrator has responded to a citizen petition asking EPA to object to a Clean Air Act
(Act)title V operating permit issued by the Colorado Department of Public Health and Environment (CDPHE). Specifically, the Administrator has denied the March 9, 2006 petition submitted by Rocky Mountain Clean Air Action and Jeremy Nichols (Petitioners) to object to the March 1, 2006 operating permit issued to Denver Regional Landfill South (DRLS). Pursuant to section 505(b)(2) of the Act, a petitioner may seek judicial review of EPA's denial of a petition in the United States Court of Appeals for the appropriate circuit. Any petition for review shall be filed within 60 days from the date this notice appears in the **Federal Register** , pursuant to section 307 of the Act. ADDRESSES: You may review copies of the final order, the petition, and other supporting information at the EPA Region 8 Office, 999 18th Street, Suite 200, Denver, Colorado 80202-2466, and following the relocation of Region 8 at 1595 Wynkoop Street, Denver, Colorado 80202-1129. EPA requests that if at all possible, you contact the individual listed in the FOR FURTHER INFORMATION CONTACT section to view the copies of the final order, the petition, and other supporting information. You may view the hard copies Monday through Friday, 8 a.m. to 4 p.m., excluding Federal holidays. If you wish to examine these documents, you should make an appointment at least 24 hours before visiting. Additionally, the final order for Denver Regional Landfill South is available electronically at: *http://www.epa.gov/region7/programs/artd/air/title5/petitiondb/petitiondb2006.htm.* FOR FURTHER INFORMATION CONTACT: Christopher Razzazian, Office of Partnership and Regulatory Assistance, EPA, Region 8, 999 18th Street, Suite 200, Denver, Colorado 80202-2466,
(303)312-6648, *razzazian.christopher@epa.gov* . SUPPLEMENTARY INFORMATION: The Act affords EPA a 45-day period to review, and object to, as appropriate, a title V operating permit proposed by a state permitting authority. Section 505(b)(2) of the Act authorizes any person to petition the EPA Administrator, within 60 days after the expiration of the EPA review period, to object to a title V operating permit if EPA has not done so. Petitions must be based only on objections to the permit that were raised with reasonable specificity during the public comment period provided by the State, unless the petitioner demonstrates that it was impracticable to raise these issues during the comment period, or the grounds for the issues arose after this period. On March 9, 2006, EPA received a petition from Petitioners requesting that EPA object to the title V operating permit for Denver Regional Landfill South. The request was based on various allegations related to permit-specific procedural and substantive issues. The following is a summary of the main objections raised by the Petitioners:
(1)Colorado did not respond to significant comments Petitioners raised during a second comment period on the permit, which resulted in deficiencies in the permit;
(2)the operating permit fails to ensure compliance with the New Source Performance Standards
(NSPS)for municipal solid waste landfills;
(3)the operating permit fails to ensure compliance with startup, shutdown, and malfunction plan requirements in relation to the control of hazardous air pollutants; and
(4)the operating permit contains an inappropriate exemption from emission limits during upset conditions and thus, fails to ensure compliance with applicable requirements related to NAAQS and PSD increments. On December 22, 2006, the Administrator issued an order denying the petition. The order explains the reasons behind EPA's conclusion to deny the petition for objection on all grounds. Dated: December 28, 2006. Robert E. Roberts, Regional Administrator, Region 8. [FR Doc. E7-251 Filed 1-10-07; 8:45 am] BILLING CODE 6560-50-P ENVIRONMENTAL PROTECTION AGENCY [OW-FRL-8268-1] Beaches Environmental Assessment and Coastal Health Act AGENCY: Environmental Protection Agency. ACTION: Notice of Availability of Grants for Implementation of Coastal Recreation Water Monitoring and Public Notification under the Beaches Environmental Assessment and Coastal Health Act. SUMMARY: The Beaches Environmental Assessment and Coastal Health (BEACH) Act, signed into law on October 10, 2000, amended the Clean Water Act (CWA), to incorporate provisions to reduce the risk of illness to users of the Nation's recreational waters. Section 406(b) of the CWA, as amended by the BEACH Act, authorizes the U.S. Environmental Protection Agency
(EPA)to award program development and implementation grants to eligible States, Territories, Tribes, and local governments to support microbiological monitoring of coastal recreation waters, including the Great Lakes, that are adjacent to beaches or similar points of access used by the public. BEACH Act grants also support development and implementation of programs to notify the public of the potential exposure to disease-causing microorganisms in coastal recreation waters. EPA encourages coastal and Great Lakes States and Territories to apply for BEACH Act grants for program implementation (referred to as implementation grants) to implement effective and comprehensive coastal recreation water monitoring and public notification programs. EPA also encourages coastal and Great Lakes Tribes to apply for BEACH Act grants for program development (referred to as development grants) to develop effective and comprehensive coastal recreation water monitoring and public notification programs. DATES: States and Territories must submit applications on or before April 11, 2007. Eligible Tribes should notify the relevant Regional BEACH Act grant coordinator of their interest in applying on or before March 12, 2007. Upon receipt of a Tribe's notice of interest, EPA will establish an appropriate application deadline. ADDRESSES: You must send your application to the appropriate Regional Grant Coordinator listed in this notice under SUPPLEMENTARY INFORMATION Section VI. FOR FURTHER INFORMATION CONTACT: Rich Healy, 1200 Pennsylvania Ave., NW., (4305T), Washington, DC, 20460, 202-566-0405, *healy.richard@epa.gov.* SUPPLEMENTARY INFORMATION: I. Grant Program What Is the Statutory Authority for BEACH Act Grants? The general statutory authority for BEACH Act grants is section 406(b) of the Clean Water Act, as amended by the BEACH Act, Pub. L. No. 106-284, 114 Stat. 970 (2000). It provides: “The Administrator may make grants to States and local governments to develop and implement programs for monitoring and notification for coastal recreation waters adjacent to beaches or similar points of access that are used by the public.” CWA section 406(b)(2)(A), however, limits EPA's ability to award implementation grants only to those States, Tribes and Territories that meet certain requirements (see Section II, Funding and Eligibility, below for information on specific requirements). What Activities Are Eligible for Funding Under the FY 2007 Grants? In fiscal year 2007, EPA intends to award grants authorized under CWA section 406(b) to eligible States and Territories to support the implementation of coastal recreation water monitoring and public notification programs that are consistent with EPA's required performance criteria for implementation grants. Also in fiscal year 2007, EPA intends to award development grants to eligible Tribes to support the development of coastal recreation water monitoring and public notification programs that are consistent with EPA's performance criteria for grants. EPA published the required performance criteria for grants in its National Beach Guidance and Required Performance Criteria for Grants (EPA-823-B-02-004), on July 19, 2002. A notice of availability of the document was published in the **Federal Register** (67 FR 47540, July 19, 2002). This document can be found on EPA's Web site at *http://www.epa.gov/waterscience/beaches/grants.* Copies of the document may also be obtained by writing, calling, or e-mailing: Office of Water Resources Center, U.S. Environmental Protection Agency, Mail Code 4100T, 1200 Pennsylvania Avenue, NW., Washington, DC 20460. (Phone: 202-566-1731 or e-mail: *center.water-resource@epa.gov* ). II. Funding and Eligibility Who Is Eligible To Apply for these Implementation Grants? Coastal and Great Lake States that meet the requirements of CWA section 406(b)(2)(A) are eligible for grants in fiscal year 2007 to implement monitoring and notification programs. The definition of the term “State” in CWA section 502 includes the District of Columbia, and current U.S. Territories: the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. Are Local Governments Eligible for Funding? CWA section 406(b)(2)(B) authorizes EPA to make a grant to a local government for implementation of a monitoring and notification program only if, after the one-year period beginning on the date of publication of the performance criteria (July 19, 2002), EPA determines that the State within which the local government has jurisdiction is not implementing a program that meets the requirements of CWA section 406(b), which includes a requirement that the program is consistent with the performance criteria in National Beach Guidance and Required Performance Criteria for Grants. Local governments may contact their EPA Regional office for further information about BEACH Act grants. How May Tribes Apply for BEACH Act Development Grants and How Much Funding is Available for Tribes? Section 518(e) of the CWA authorizes EPA to treat eligible Indian Tribes in the same manner as States for the purpose of receiving CWA section 406 grant funding. For fiscal year 2007, EPA will make $50,000 available for development grants to eligible Tribes. In order to be eligible for a CWA section 406 development grant, a Tribe must have coastal recreation waters adjacent to beaches or similar points of access that are used by the public. The phrase “coastal recreation waters” is defined in CWA section 502(21) to mean the Great Lakes and marine coastal waters (including coastal estuaries) that are designated under CWA section 303(c) for use for swimming, bathing, surfing, or similar water contact activities. The statute explicitly excludes from the definition inland waters and waters upstream of the mouth of a river or stream having an unimpaired natural connection with the open sea. In addition, a tribe must demonstrate that it meets the “treatment in the same manner as a State”
(TAS)criteria contained in CWA section 518(e) for purposes of receiving a section 406 beaches grant. To demonstrate TAS, the Tribe must show that it:
(1)Is federally recognized;
(2)has a governing body carrying out substantial governmental duties and powers;
(3)will be exercising functions pertaining to waters within reservation; and
(4)is reasonably expected to be capable of carrying out the functions consistent with the CWA and all applicable regulations. EPA encourages those Tribes with coastal recreation waters to contact their regional Beach Act grant coordinator for further information regarding the application process as soon as possible. Are There Any Additional Eligibility Requirements and Grant Conditions Applicable to States, Tribes, and Territories? Yes, there are additional eligibility requirements and grant conditions. First, CWA section 406(b)(2)(A) provides that EPA may only award a grant to implement a monitoring and notification program if:
(I)the program is consistent with the performance criteria published by the Administrator under CWA section 406(a);
(ii)the State or local government prioritizes the use of grant funds for particular coastal recreation waters based on the use of the water and the risk to human health presented by pathogens or pathogen indicators;
(iii)the State or local government makes available to the Administrator the factors used to prioritize the use of funds under clause (ii);
(iv)the State or local government provides a list of discrete areas of coastal recreation waters that are subject to the program for monitoring and notification for which the grant is provided that specifies any coastal recreation waters for which fiscal constraints will prevent consistency with the performance criteria under CWA section 406(a); and
(v)the public is provided an opportunity to review the program through a process that provides for public notice and an opportunity for comment. Second, CWA section 406(c) requires that as a condition of receipt of a CWA section 406 grant, a State or local government program for monitoring and notification must identify:
(1)Lists of coastal recreation waters in the State, including coastal recreation waters adjacent to beaches or similar points of access that are used by the public;
(2)in the case of a State program for monitoring and notification, the process by which the State may delegate to local governments responsibility for implementing the monitoring and notification program;
(3)the frequency and location of monitoring and assessment of coastal recreation waters based on—
(A)the periods of recreational use of the waters;
(B)the nature and extent of use during certain periods;
(C)The proximity of the waters to known point sources and nonpoint sources of pollution; and
(D)Any effect of storm events on the waters;
(A)The methods to be used for detecting levels of pathogens and pathogen indicators that are harmful to human health; and
(B)The assessment procedures for identifying short-term increases in pathogens and pathogen indicators that are harmful to human health in coastal recreation waters (including increases in relation to storm events);
(5)Measures for prompt communication of the occurrence, nature, location, pollutants involved, and extent of any exceeding of, or likelihood of exceeding, applicable water quality standards for pathogens and pathogen indicators to—
(A)The Administrator, in such form as the Administrator determines to be appropriate; and
(B)A designated official of a local government having jurisdiction over land adjoining the coastal recreation waters for which the failure to meet applicable standards is identified;
(6)Measures for the posting of signs at beaches or similar points of access, or functionally equivalent communication measures that are sufficient to give notice to the public that the coastal recreation waters are not meeting or are not expected to meet applicable water quality standards for pathogens and pathogen indicators; and
(7)Measures that inform the public of the potential risks associated with water contact activities in the coastal recreation waters that do not meet applicable water quality standards. Third, as required by CWA section 406(b)(3)(A), a State recipient of a CWA section 406 grant must submit to EPA, in such format and at such intervals as EPA determines to be appropriate, a report that describes:
(1)Data collected as part of the program for monitoring and notification as described in section 406(c), and
(2)Actions taken to notify the public when water quality standards are exceeded. States must submit to EPA both the monitoring and notification reports for any beach season by January 31 of the year following the beach season. For the 2007 beach season, the deadline for states to submit these reports is January 31, 2008. EPA first established this report submission deadline in the **Federal Register** notice for the fiscal year 2003 grants (68 FR 15446, 15449 (March 31, 2003)). Fourth, States are required to report to EPA, latitude, longitude and mileage data on:
(1)The extent of beaches and similar points of public access adjacent to coastal recreation waters, and
(2)The extent of beaches that are monitored. EPA first established this requirement in the **Federal Register** notice for the fiscal year 2003 grants (68 FR 15446, 15447 (March 31, 2003)). EPA is continuing this requirement in order to capture any changes States may make to their beach monitoring program. States must report to EPA any changes to either the extent of their beaches or similar points of access, or to the extent of their beaches that are monitored. How Much Funding Is Available? For fiscal year 2007, the total available for BEACH Act grants is expected to be $9,900,000 subject to the availability of funds. EPA expects to award $9,850,000 in implementation and development grants to eligible States and Territories. In addition, EPA intends to award $50,000 in development grants to eligible Tribes. How Will the Funding for States and Territories Be Allocated? For fiscal year 2007, EPA expects to award grants to all eligible States and Territories who apply for funding based on an allocation formula that the Agency developed for allocating BEACH Act grant funds in 2002. EPA consulted with various States, the Coastal States Organization, and the Association of State and Interstate Water Pollution Control Administrators (ASIWPCA) to develop this formula. It uses three factors:
(1)Beach season length,
(2)beach miles, and
(3)beach use. As discussed in more detail below, EPA is reviewing the allocation formula in an effort to improve it.
(1)Beach Season Length EPA selected beach season length as a factor because it determines the part of the year when a government would conduct its monitoring program. The longer the beach season, the more resources a government would need to conduct monitoring. The Agency obtained the information on the length of a beach season from the National Health Protection Survey of Beaches for the States or Territories that submitted a completed survey. EPA estimated the beach season length for Alaska based on air and water temperature, available information on recreation activities, and data from the 1993 National Water Based Recreation Survey. EPA grouped the States and U.S. Territories into four categories of beach season lengths: For beaches in: The beach season category is: Alaska < 3 months. Connecticut, Delaware, Illinois, Indiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Virginia, Washington, Wisconsin 3-4 months. Alabama, Georgia, Louisiana, Mississippi, North Carolina, South Carolina 5-6 months. American Samoa, California, Florida, Guam, Hawaii, Northern Mariana, Puerto Rico, Texas, U.S. Virgin Islands 9-12 months.
(2)Beach Miles EPA selected miles of beach as a factor because it determines the geographical extent over which a government would conduct monitoring. The more miles of beaches, the more resources a government would need to conduct monitoring. EPA does not have beach mileage data in a format that can be used for the allocation formula at this time. Therefore, in the interim, EPA is using shoreline miles as a surrogate for beach miles in the allocation formula. Shoreline miles data overestimates beach miles in some States and Territories; however, EPA and States agreed that this is the best way to estimate beach miles available at this time. EPA used the National Oceanic and Atmospheric Administration
(NOAA)publication, The Coastline of the United States, to quantify shoreline miles. EPA is in the process of reviewing the appropriateness of shoreline and beach miles data as factors in the allocation formula.
(3)Beach Use EPA selected beach use as a factor because it reflects the magnitude of potential human exposure to pathogens at recreational beaches. Greater use of beaches makes it more likely that a government would need to increase monitoring frequency due to the larger number of people potentially exposed to pathogens. EPA continues to use the coastal population of counties (based on the 2000 Census data) to quantify the coastal population that is wholly or partially within the State's or Territory's legally defined coastal zone, as a surrogate for actual beach usage. EPA is reviewing the appropriateness of coastal county population and beach use data as factors in the allocation formula. The grants allocation formula sums three parts. The first part is a base amount for all States and Territories that varies with the length of the beach season. The second part distributes 50% of the total remaining funds based on the ratio of shoreline miles in a State or Territory to the total length of shoreline miles. For example, if a State has 4% of the total coastal and Great Lakes shoreline, that State would receive 4% of 50% (or 2%) of total funds remaining after the Agency distributed the funds for part one. The third part distributes the remaining 50% based on the ratio of coastal population in a State or Territory to the total coastal population. For example, if a State has 2% of the total coastal and Great Lakes population, that State would receive 2% of 50% (or 1%) of the total funds remaining after the Agency distributes the funds for the first two parts. The following table summarizes the allocation formula: The part of the allocation is: Beach season length < 3 months: $150,000 (States and Territories with a season <3 months receive season-based funding only.) 3-4 months: $200,000 5-6 months: $250,000 >6 months: $300,000 Shoreline miles 50% of funds remaining after allocation of season-based funding. Coastal population 50% of funds remaining after allocation of season-based funding. For 2007, the total available for BEACH Act grants to States and Territories is expected to be $9,850,000 million. This is an estimate pending the Agency's fiscal year 2007 appropriation. EPA will announce on its Web site any changes to the total amount available for BEACH Act grants, at *http://www.epa.gov/waterscience/beaches/grants/.* Assuming all 35 States and Territories with coastal recreation waters apply and meet the statutory eligibility requirements for implementation grants (and have met the statutory grant conditions applicable to previously awarded section 406 grants), the distribution of the funds for year 2007 is expected to be: For the State or Territory of: The year 2007 allocation is expected to be: Alabama $262,510 Alaska $150,000 American Samoa $302,200 California $522,920 Connecticut $224,010 Delaware $211,040 Florida $534,700 Georgia $287,200 Guam $302,680 Hawaii $323,660 Illinois $244,120 Indiana $205,960 Louisiana $325,370 Maine $256,240 Maryland $271,150 Massachusetts $255,940 Michigan $280,610 Minnesota $204,390 Mississippi $257,720 New Hampshire $204,660 New Jersey $279,870 New York $352,830 North Carolina $303,920 Northern Marianas $303,430 Ohio $224,300 Oregon $229,570 Pennsylvania $223,150 Puerto Rico $329,240 Rhode Island $212,990 South Carolina $297,940 Texas $385,180 U.S. Virgin Islands $303,270 Virginia $279,020 Washington $272,250 Wisconsin $225,960 In the **Federal Register** notice announcing the availability of fiscal year 2006 grants EPA declared its intention to consider revising the grant allocation formula (71 FR 1744, 1746 (January 11, 2006)). EPA began this process on February 15, 2006, when it convened a State/EPA workgroup to evaluate the current allocation formula. In order to garner input from the widest available audience, EPA intends to propose for broad input a revised allocation formula in calendar year 2008. Although the planning for this proposal is still in the early stages, EPA expects that one component of any revised allocation formula will include an incentive to encourage more timely expenditure of grant funds by individual States and Territories. EPA intends to consult further with interested stakeholders before making any changes to improve the allocation formula in the future. At this time, EPA expects that any change would be implemented when EPA awards BEACH Act grants for fiscal year 2010. What if a State Does Not Apply or Does Not Qualify for Funding? EPA expects that all 35 States and Territories will apply. If fewer than 35 States and Territories apply for the allocated amount, or if any applicant fails to meet the statutory eligibility requirements (or the statutory conditions applicable to previously awarded section 406 grants), then EPA will distribute available grant funds to eligible States and Territories in the following order:
(1)States that meet the eligibility requirements for implementation grants and that have met the statutory conditions applicable to previously awarded section 406 grants will be awarded the full amount of funds allocated to the State under the formula described above.
(2)States that have not met the requirements for implementation grants but have met the statutory requirements and grant conditions applicable to previously awarded section 406 grants may receive grants for continued program development. Any program development grants that the Agency awards will be for the limited purpose of completing work needed to qualify for implementation grants. Therefore, we expect that funding levels for continued program development grants will be lower than the amount allocated for program implementation grants.
(3)EPA may award program implementation grants to local governments in States that the Agency determines have not met the requirements for implementation grants.
(4)Should there be any remaining funds, EPA may award these funds to those States that have met the statutory requirements for implementation grants, as well as the statutory grant conditions of previous section 406 grants, using the criteria in the allocation formula. What if a State Cannot Use All of its Allocation? If a State, Tribe, or Territory cannot use all of its allocation, the Regional Administrator may award the unused funds to any eligible coastal or Great Lake grant recipient in the Region for the continued development or implementation of their coastal recreation water monitoring and notification program(s). If, after re-allocations, there are still unused funds within the Region, EPA Headquarters will redistribute these funds to any eligible coastal or Great Lake BEACH Act grant recipient. How Will the Funding for Tribes Be Allocated? EPA expects to apportion the funds set aside for tribal grants evenly among all eligible Tribes that apply for funding. What Is the Expected Duration of Funding and Projects? The expected funding and project periods for implementation grants awarded in fiscal year 2007 is one year. Does EPA Require Matching Funds? Recipients do not have to provide matching funds for BEACH Act grants. EPA may establish a match requirement in the future based on a review of State program activity and funding levels. III. Eligible Activities Recipients of implementation grants may use funds for activities to support implementing a beach monitoring and notification program that is consistent with the required performance criteria for grants specified in the document, National Beach Guidance and Required Performance Criteria for Grants, (document number: EPA-823-B-02-004). Recipients of development grants may use the funds to develop a beach monitoring and notification program consistent with the performance criteria. IV. Selection Process EPA Regional offices will award CWA section 406 grants through a non-competitive process. EPA expects to award grants to all eligible State, Tribe, and Territory applicants that meet the applicable requirements described in this notice. Who Has the Authority To Award BEACH Act Grants? The Administrator has delegated the authority to award BEACH Act grants to the Regional Administrators. V. Application Procedure What Is the Catalog of Federal Domestic Assistance
(CFDA)Number for the BEACH Monitoring and Notification Program Implementation Grants? The number assigned to the BEACH Act Grants is 66.472, Program Code CU. Can BEACH Act Grant Funds Be Included in a Performance Partnership Grant? For fiscal year 2007, BEACH Act Grants cannot be included in a Performance Partnership Grant. What Is the Application Process for States and Territories? Your application package should contain completed: EPA SF-424 Application for Federal Assistance, Program Summary, and Data Submission Plan. In order for EPA to determine that a State or local government is eligible for an implementation grant, the applicant must submit documentation with its application to demonstrate that its program is consistent with the performance criteria. The Program Summary must contain sufficient technical detail for EPA to confirm that your program meets the statutory eligibility requirements and statutory grant conditions for previously awarded CWA section 406 grants listed in section II (Funding and Eligibility) of this notice. The Program Summary must also describe how the State used BEACH Act Grant funds to develop the beach monitoring and notification program, and how the program is consistent with the nine performance criteria in National Beach Guidance and Required Performance Criteria for Grants, (EPA-823-B-02-004). The Program Summary should also describe the state or territory program's objectives for the next year. The Data Submission Plan describes the State data infrastructure and how the State plans to submit beach monitoring and notification data to EPA. States may submit a new Data Submission Plan, or they may submit updates and amendments to their current Plan. More information on both the Program Summary and Data Submission Plan is available at *http://www.epa.gov/waterscience/beaches/grants/.* States and territories must submit application packages to the appropriate EPA Regional Office by April 11, 2007. EPA will make an award after the Agency reviews the documentation and confirms that the program meets the applicable requirements. The Office of Management and Budget has authorized EPA to collect this information (BEACH Act Grant Information Collection Request, OMB control number 2040-0244). Please contact the appropriate EPA Regional Office for a complete application package. See Section VI for a list of EPA Regional Grant Coordinators or visit the EPA Beach Watch Web site at *www.epa.gov/waterscience/beaches/contact.html* on the Internet. What Should a Tribe's Notice of Interest Contain? The Notice of Intent should include the Tribe's name and the name and telephone number of a contact person. Are Quality Assurance and Quality Control (QA/QC) Required for Application? Yes. Three specific QA/QC requirements must be met to comply with EPA's performance criteria for grants:
(1)Applicants must submit documentation that describes the quality system implemented by the State, Tribe, or local government. Documentation may be in the form of a Quality Management Plan or equivalent documentation.
(2)Applicants must submit a quality assurance project plan
(QAPP)or equivalent documentation.
(3)Applicants are responsible for submitting documentation of the quality system and QAPP for review and approval by the EPA Quality Assurance Officer or his designee before they take primary or secondary environmental measurements. More information about the required QA/QC procedures is available in Chapter Four and Appendix H of National Beach Guidance and Required Performance Criteria for Grants (EPA-823-B-02-004). Are There Reporting Requirements? Recipients must submit annual performance reports and financial reports as required in 40 CFR 31.40 and 31.41. The annual performance report explains changes to the beach monitoring and notification program during the grant year. It also describes how the grant funds were used to implement the program to meet the performance criteria listed in National Beach Guidance and Required Performance Criteria for Grants (EPA-823-B-02-004). The annual performance report required under 40 CFR 31.40 is due no later than 90 days after the grant year. Recipients must also submit annual monitoring and notification reports required under by the National Beach Guidance and Required Performance Criteria for Grants; (EPA-823-B-02-004). Sections 2.2.3 and 4.3 of the document contain the performance criterion requiring an annual monitoring report, and sections 2.2.8 and 5.4 contain the performance criterion requiring an annual notification report. This document can be found at *http://www.epa.gov/waterscience/beaches/grants/.* These reports, required to be submitted to EPA by States, Tribes and Territories under CWA section 406(b)(3)(A), include data collected as part of a monitoring and notification program. As a condition of award of an implementation grant, EPA requires that the monitoring report and the notification report for any beach season be submitted not later than January 31 of the year following the beach season. (See Section II, Funding and Eligibility, above.) What Regulations and OMB Cost Circular Apply to the Award and Administration of These Grants? The regulations at 40 CFR Part 31 govern the award and administration of grants to States, Tribes, local governments, and Territories under CWA sections 406(b). Allowable costs will be determined according to the cost principles outlined in OMB Cost Circular A-87. VI. Grant Coordinators Headquarters—Washington, DC Rich Healy USEPA, 1200 Pennsylvania Ave., NW—4305, Washington, DC 20460; T: 202-566-0405; F: 202-566-0409; *healy.richard@epa.gov.* Region I—Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island Matt Liebman USEPA Region I, One Congress St., Ste. 1100-CWQ, Boston, MA 02114-2023; T: 617-918-1626; F: 617-918-1505; *liebman.matt@epa.gov.* Region II—New Jersey, New York, Puerto Rico, U.S. Virgin Islands Helen Grebe USEPA Region II, 2890 Woodbridge Ave., MS220, Edison, NJ 08837-3679; T: 732-321-6797; F: 732-321-6616; *grebe.helen@epa.gov.* Region III—Delaware, Maryland, Pennsylvania, Virginia Tiffany Crawford USEPA Region III, 1650 Arch Street, 3ES10, Philadelphia, PA 19103-2029; T: 215-814-5776; F: 215-814-2301; *crawford.tiffany@epa.gov.* Region IV—Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina Joel Hansel USEPA Region IV, 61 Forsyth St., 15th Floor, Atlanta, GA 30303-3415; T: 404-562-9274; F: 404-562-9224; *hansel.joel@epa.gov.* Region V—Illinois, Indiana, Michigan, Minnesota, Ohio, Wisconsin Holly Wirick USEPA Region V, 77 West Jackson Blvd., WT-16J, Chicago, IL 60604-3507; T: 312-353-6704; F: 312-886-0168; *wirick.holiday@epa.gov.* Region VI—Louisiana, Texas Mike Schaub USEPA Region VI, 1445 Ross Ave., 6WQ-EW, Dallas, TX 75202-2733; T: 214-665-7314; F: 214-665-6689; *schaub.mike@epa.gov.* Region IX—American Samoa, Commonwealth of the Northern Mariana Islands, California, Guam, Hawaii Terry Fleming USEPA Region IX, 75 Hawthorne St., WTR-2, San Francisco, CA 94105; T: 415-972-3462; F: 415-947-3537; *fleming.terrence@epa.gov.* Region X—Alaska, Oregon, Washington Rob Pedersen USEPA Region X, 120 Sixth Ave., OW-134, Seattle, WA 98101; T: 206-553-1646; F: 206-553-0165; *pedersen.rob@epa.gov.* Dated: January 4, 2007. Michael Shapiro, Acting Assistant Administrator for Water. [FR Doc. E7-248 Filed 1-10-07; 8:45 am] BILLING CODE 6560-50-P FARM CREDIT SYSTEM INSURANCE CORPORATION Farm Credit System Insurance Corporation Board; Regular Meeting SUMMARY: Notice is hereby given of the regular meeting of the Farm Credit System Insurance Corporation Board (Board). DATE AND TIME: The meeting of the Board will be held at the offices of the Farm Credit Administration in McLean, Virginia, on January 11, 2007, from 10 a.m. until such time as the Board concludes its business. FOR FURTHER INFORMATION CONTACT: Roland E. Smith, Secretary to the Farm Credit System Insurance Corporation Board,
(703)883-4009, TTY
(703)883-4056. ADDRESSES: Farm Credit System Insurance Corporation, 1501 Farm Credit Drive, McLean, Virginia 22102. SUPPLEMENTARY INFORMATION: Parts of this meeting of the Board will be open to the public (limited space available) and parts will be closed to the public. In order to increase the accessibility to Board meetings, persons requiring assistance should make arrangements in advance. The matters to be considered at the meeting are: Open Session A. Approval of Minutes • December 14, 2006 (Regular Meeting). B. New Business • Review of Insurance Premium Rates. Closed Session • Audit Plan for the Year Ended December 31, 2006. Dated: January 5, 2007. James M. Morris, Acting Secretary, Farm Credit System Insurance Corporation Board. [FR Doc. E7-213 Filed 1-10-07; 8:45 am] BILLING CODE 6710-01-P FEDERAL RESERVE SYSTEM Proposed Agency Information Collection Activities; Comment Request AGENCY: Board of Governors of the Federal Reserve System SUMMARY: Background On June 15, 1984, the Office of Management and Budget
(OMB)delegated to the Board of Governors of the Federal Reserve System (Board) its approval authority under the Paperwork Reduction Act, as per 5 CFR 1320.16, to approve of and assign OMB control numbers to collection of information requests and requirements conducted or sponsored by the Board under conditions set forth in 5 CFR 1320 Appendix A.1. Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instruments are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number. Request for comment on information collection proposals The following information collections, which are being handled under this delegated authority, have received initial Board approval and are hereby published for comment. At the end of the comment period, the proposed information collections, along with an analysis of comments and recommendations received, will be submitted to the Board for final approval under OMB delegated authority. Comments are invited on the following: a. Whether the proposed collections of information are necessary for the proper performance of the Federal Reserve's functions; including whether the information has practical utility; b. The accuracy of the Federal Reserve's estimate of the burden of the proposed information collections, including the validity of the methodology and assumptions used; c. Ways to enhance the quality, utility, and clarity of the information to be collected; and d. Ways to minimize the burden of information collections on respondents, including through the use of automated collection techniques or other forms of information technology. DATES: Comments must be submitted on or before March 12, 2007. ADDRESSES: You may submit comments, identified by FR 2069 (OMB No. 7100-0030), FR 2416 and FR 2644 (OMB No. 7100-0075), FR Y-9C (OMB No. 7100-0128), FR Y-11 (OMB No. 7100-0244), FR 2314 (OMB No. 7100-0073), or FR 3036 (OMB No. 7100-0285) by any of the following methods: • Agency Web Site: *http://www.federalreserve.gov.* Follow the instructions for submitting comments at *http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.* • Federal eRulemaking Portal: *http://www.regulations.gov.* Follow the instructions for submitting comments. • E-mail: *regs.comments#64;federalreserve.gov.* Include the OMB control number in the subject line of the message. • FAX: 202-452-3819 or 202-452-3102. • Mail: Jennifer J. Johnson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, N.W., Washington, DC 20551. All public comments are available from the Board's web site at *www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm* as submitted, unless modified for technical reasons. Accordingly, your comments will not be edited to remove any identifying or contact information. Public comments may also be viewed electronically or in paper in Room MP-500 of the Board's Martin Building (20th and C Streets, N.W.) between 9:00 a.m. and 5:00 p.m. on weekdays. Additionally, commenters should send a copy of their comments to the OMB Desk Officer by mail to the Office of Information and Regulatory Affairs, U.S. Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street, NW., Washington, DC 20503 or by fax to 202-395-6974. FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and instructions, the Paperwork Reduction Act Submission, supporting statement, and other documents that will be placed into OMB's public docket files once approved may be requested from the agency clearance officer, whose name appears below. Michelle Shore, Federal Reserve Board Clearance Officer (202-452-3829), Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551. Telecommunications Device for the Deaf
(TDD)users may contact (202-263-4869), Board of Governors of the Federal Reserve System, Washington, DC 20551. Proposal to approve under OMB delegated authority the extension for three years, with revision, of the following reports: *1. Report title:* Weekly Report of Assets and Liabilities for Large Banks and Weekly Report of Selected Assets *Agency form numbers:* FR 2416 and FR 2644 *OMB control number:* 7100-0075 *Frequency:* Weekly *Reporters:* U.S.-chartered commercial banks *Annual reporting hours:* FR 2416: 22,386 hours; FR 2644: 80,652 hours *Estimated average hours per response:* FR 2416: 8.61 hours; FR 2644: 1.41 hours *Number of respondents:* FR 2416: 50; FR 2644: 1,100 *General description of reports:* These information collections are voluntary (12 U.S.C. § 225(a) and 248(a)(2)). Individual respondent data are regarded as confidential under the Freedom of Information Act (5 U.S.C. § 552(b)(4)). *Abstract:* The FR 2416, FR 2644, and the Weekly Report of Assets and Liabilities for Large U.S. Branches and Agencies of Foreign Banks (FR 2069; OMB No. 7100-0030) are referred to collectively as the bank credit reports. The FR 2416 is a detailed balance sheet that covers domestic offices of large U.S.-chartered commercial banks. The FR 2644 collects less-detailed information on investments, loans, total assets, and several memoranda items, covering domestic offices of small U.S.-chartered commercial banks. The bank credit reports are collected as of each Wednesday. These three voluntary reports are mainstays of the Federal Reserve's reporting system from which data for analysis of current banking developments are derived. The FR 2416 is used on a stand-alone basis as the large domestic bank series. The FR 2644 collects sample data, which are used to estimate universe levels using data from the quarterly commercial bank Consolidated Reports of Condition and Income (FFIEC 031 and 041; OMB No. 7100-0036) (Call Report). Data from the bank credit reports, together with data from other sources, are used for constructing weekly estimates of bank credit, of sources and uses of bank funds, and of a balance sheet for the banking system as a whole. The Federal Reserve publishes the data in aggregate form in the weekly H.8 statistical release, Assets and Liabilities of Commercial Banks in the United States, which is followed closely by other government agencies, the banking industry, the financial press, and other users. This release provides a balance sheet for the banking industry as a whole and data disaggregated by its large domestic, small domestic, and foreign-related components. *Current actions:* The Federal Reserve proposes to reduce reporting burden by eliminating data items that are no longer useful beyond data already available from Call Reports, to collect information on real estate loan securitization activity, and to improve the detailed information associated with data on security loans. The Federal Reserve proposes to make the following modifications to the FR 2416:
(1)delete data item 5.d, Loans to finance agricultural production and other loans to farmers;
(2)delete data item 5.h, Loans to states and political subdivisions in the U.S.;
(3)delete memorandum item M.8, Commercial and industrial loans: Outstanding principal balance of assets sold and securitized;
(4)add a memorandum item, Real estate loans: Outstanding principal balance of assets sold and securitized; and
(5)rename memoranda items M.1 and M.5 on revaluation gains and losses, respectively. The Federal Reserve proposes to make the following modifications to the FR 2644:
(1)add a memorandum item, Real estate loans: Outstanding principal balance of assets sold and securitized, (the same data item proposed for the FR 2416 reporting form) and
(2)renumber memoranda items M.4 and M.5 on net due from and net due to, respectively, to allow for the addition of the new data item on securitized real estate loans. The proposed revisions discussed above would be implemented as of June 2007. The Federal Reserve would like to reevaluate the bank credit data in coming quarters to determine whether changes consistent with the proposed March 2007 Call Report revisions would be necessary for the bank credit series. Therefore, another proposal to revise the reporting forms may be presented for review before the three-year extension expires. *2. Report title:* Weekly Report of Assets and Liabilities for Large U.S. Branches and Agencies of Foreign Banks *Agency form number:* FR 2069 *OMB control number:* 7100-0030 *Frequency:* Weekly *Reporters:* U.S. branches and agencies of foreign banks *Annual reporting hours:* 14,560 hours *Estimated average hours per response:* 4.00 hours *Number of respondents:* 70 *General description of report:* This information collection is voluntary (12 U.S.C. § 248(a)(2) and 3105(a)(2)). Individual respondent data are regarded as confidential under the Freedom of Information Act (5 U.S.C. § 552(b)(4)). *Abstract:* The FR 2069 is a detailed balance sheet that covers large U.S. branches and agencies of foreign banks. This report, along with the FR 2416 and FR 2644, is collected as of each Wednesday. These three voluntary reports are mainstays of the Federal Reserve's reporting system from which data for analysis of current banking developments are derived. The FR2069 collects sample data, which are used to estimate universe levels using data from the quarterly Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (FFIEC 002; OMB No. 7100-0032). Data from the bank credit reports, together with data from other sources, are used for constructing weekly estimates of bank credit, of sources and uses of bank funds, and of a balance sheet for the banking system as a whole. The Federal Reserve publishes the data in aggregate form in the weekly H.8 statistical release, Assets and Liabilities of Commercial Banks in the United States, which is followed closely by other government agencies, the banking industry, the financial press, and other users. This release provides a balance sheet for the banking industry as a whole and data disaggregated by its large domestic, small domestic, and foreign-related components. *Current actions:* The Federal Reserve proposes to make the following modifications to the FR 2069:
(1)split data item 4.b, Federal funds sold and securities purchased under agreements to resell: With others, into two data items;
(2)delete memorandum item M.3, Commercial and industrial loans: Outstanding principal balance of assets sold and securitized; and
(3)rename memoranda items M.1 and M.2 on revaluation gains and losses, respectively. The proposed revisions discussed above would be implemented as of June 2007. The Federal Reserve would like to reevaluate the bank credit data in coming quarters to determine whether changes consistent with the proposed March 2007 Call Report revisions would be necessary for the bank credit series. Therefore, another proposal to revise the reporting forms may be presented for review before the three-year extension expires. Proposal to approve under OMB delegated authority the revision, without extension, of the following reports: *1. Report title:* Consolidated Financial Statements for Bank Holding Companies. *Agency form number:* FR Y-9C. *OMB control number:* 7100-0128. *Frequency:* Quarterly. *Reporters:* Bank holding companies (BHCs). *Annual reporting hours:* 117,504 *Estimated average hours per response:* 38.35 *Number of respondents:* 766 *General description of report:* This information collection is mandatory (12 U.S.C. 1844(c)). Confidential treatment is not routinely given to the data in this report. However, confidential treatment for the reporting information, in whole or in part, can be requested in accordance with the instructions to the form, pursuant to section (b)(4) of the Freedom of Information Act (5 U.S.C. §§522(b)(4). *Abstract:* The FR Y-9 family of reports historically has been, and continues to be, the primary source of financial information on BHCs between on-site inspections. Financial information from these reports is used to detect emerging financial problems, to review performance and conduct pre-inspection analysis, to monitor and evaluate capital adequacy, to evaluate BHC mergers and acquisitions, and to analyze a BHC's overall financial condition to ensure safe and sound operations. The FR Y-9C consists of standardized financial statements similar to the Consolidated Reports of Condition and Income (Call Report) (FFIEC 031 & 041; OMB No. 7100-0036) filed by commercial banks. The FR Y-9C collects consolidated data from the BHC and is generally filed by top-tier BHCs with total consolidated assets of $500 million or more. *Current actions:* The Federal Reserve proposes to make the following revisions to the FR Y-9C to parallel proposed changes to the Call Report. BHCs have commented that changes should be made to the FR Y-9C in a manner consistent with changes to the Call Report. Comments received on the Call Report proposal will also be taken into consideration for this proposal. Reporting on Fair Value Measurements and the Use of the Fair Value Option On September 15, 2006, the Financial Accounting Standards Board
(FASB)issued Statement No. 157, Fair Value Measurements (FAS 157), which is effective for BHCs and other entities for fiscal years beginning after November 15, 2007. Earlier adoption of FAS 157 is permitted as of the beginning of an earlier fiscal year, provided the BHC has not yet issued a financial statement or submitted FR Y-9C data for any period of that fiscal year. Thus, a BHC with a calendar year fiscal year may voluntarily adopt FAS 157 as of January 1, 2007. The fair value measurements standard provides guidance on how to measure fair value and would require BHCs and other entities to disclose the inputs used to measure fair value based on a three-level hierarchy for all assets and liabilities that are re-measured at fair value on a recurring basis. 1 1 The FASB's three-level fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting BHC has the ability to access at the measurement date (e.g., the FR Y-9C reporting date). Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The FASB plans to issue a final standard, The Fair Value Option for Financial Assets and Financial Liabilitiesduring the first quarter of 2007, which would be effective for BHCs and other entities for fiscal years beginning after December 15, 2006. The FASB's Fair Value Option standard would allow BHCs and other entities to report certain financial assets and liabilities at fair value with the changes in fair value included in earnings. The Federal Reserve anticipates that relatively few BHCs will elect to use the fair value option for a significant portion of their financial assets and liabilities. The Federal Reserve proposes to add a new Schedule HC-Q to the FR Y-9C to collect data, by major asset and liability category, on the amount of assets and liabilities to which the fair value option has been applied along with separate disclosure of the amount of such assets and liabilities whose fair values were estimated under level two and under level three of the FASB's fair value hierarchy. The categories are: • Securities held for purposes other than trading with changes in fair value reported in current earnings, • Loans and leases, • All other financial assets and servicing assets, • Deposit liabilities, • All other financial liabilities and servicing liabilities, and • Loan commitments (not accounted for as derivatives). In addition, the Federal Reserve proposes to collect data on trading assets and trading liabilities in the new schedule from those BHCs that complete Schedule HC-D, Trading Assets and Liabilities, that is, BHCs that reported average trading assets of $2 million or more for any quarter of the preceding calendar year. In the proposed new schedule, such BHCs would report the carrying amount of trading assets and trading liabilities whose fair values were estimated under level two and under level three of the FASB's fair value hierarchy. Trading assets and trading liabilities are required to be reported at fair value and thus are not covered under the fair value option. The Federal Reserve anticipates using this fair value information to make appropriate risk assessments for on-site examinations and off-site surveillance. The addition of these data items should result in minimal additional reporting burden for BHCs because FAS 157 requires disclosure of amounts under all three levels of the fair value hierarchy on a quarterly and annual basis in financial statements. The FASB's fair value measurements standard requires BHCs and other entities to consider the effect of a change in their own creditworthiness when determining the fair value of a financial liability. The Federal Reserve proposes to add one new data item to Schedule HC-R, Regulatory Capital, for the cumulative change in the fair value of all financial liabilities accounted for under the fair value option that is attributable to changes in the BHC's own creditworthiness. This amount would be excluded from the BHC's retained earnings for purposes of determining Tier 1 capital under the Federal Reserve's regulatory capital standards. The Federal Reserve plans to clarify the instructions to Schedule HI for the treatment of interest income on financial assets and interest expense on financial liabilities measured under a fair value option. The instructions would be modified to instruct BHCs to separate the contractual year-to-date amount of interest earned on financial assets and interest incurred on financial liabilities that are reported under a fair value option from the overall year-to-date fair value adjustment and report these contractual amounts in the appropriate interest income or interest expense items on Schedule HI. In addition, the Federal Reserve proposes to modify memoranda item 6, Other noninterest income, by adding data item 6.i, Net change in the fair values of financial instruments accounted for under a fair value option. Reporting of Certain Data on 1-4 Family Residential Mortgage Loans withTermsthat Allow for Negative Amortization Recently, the volume of 1-4 family residential mortgage loan products whose terms allow for negative amortization and the number of institutions providing borrowers with such loans has increased significantly. Loans with this feature are structured in a manner that may result in an increase in the loan's principal balance even when the borrower's payments are technically current. When loans with negative amortization are not prudently underwritten and not properly monitored, they raise safety and soundness concerns. However, due to the classification of these loans with all other 1-4 family residential mortgage loans in the FR Y-9C, the Federal Reserve has no readily available means of identifying the industry's exposure to such loans. Therefore, the Federal Reserve proposes to collect four data items to monitor the extension of negatively amortizing residential mortgage loans in the industry. The Federal Reserve proposes to collect one memorandum item from all BHCs on Schedule HC-C, Loans and Leases, for the total amount of closed-end loans with negative amortization features secured by 1-4 family residential properties in order to obtain an overall measure of this potentially higher risk lending activity. In addition, the Federal Reserve proposes to collect two memoranda items on Schedule HC-C and one memorandum item on Schedule HI, Income Statement, from BHCs with a significant volume of negatively amortizing 1-4 family residential mortgage loans. The determination of the threshold for significant volume would be based on the aggregate carrying amount of negatively amortizing loans in excess of a certain dollar amount, for example, $100 million or $250 million, or in excess of a certain percentage of the total loans and leases (in domestic offices) reported on Schedule HC-C, for example, 5 percent or 10 percent. A BHC with negatively amortizing loans would determine whether it met the size threshold for reporting the three additional memoranda items based on data reported from the previous year-end FR Y-9C report. The Federal Reserve requests public comment on the specific dollar amount and percentage of loans that should be used in setting the size threshold for additional reporting on negatively amortizing loans. The two additional Schedule HC-C memoranda items are
(1)the total maximum remaining amount of negative amortization contractually permitted on closed-end loans secured by 1-4 family residential properties and
(2)the total amount of negative amortization on closed-end loans secured by 1-4 family residential properties that is included in the carrying amount of these loans. The first memorandum item would provide a measure of the maximum exposure that could be incurred for negative amortization loans in the current 1-4 family residential property loan portfolio. The second memorandum item would then identify what component of 1-4 family mortgage loans is comprised of negative amortization loans. The Schedule HI memorandum item is year-to-date non-cash income on closed-end loans with a negative amortization feature secured by 1-4 family residential properties. This memorandum item would identify the amount and extent of interest revenue accrued and uncollected to ascertain the degree this potentially higher risk lending activity supports the BHC's overall net income. BHCs with negatively amortizing 1-4 family residential loans in excess of the reporting threshold for these data items would report these three data items for the entire calendar year following the end of any calendar year when this threshold was exceeded. Reporting of Certain Brokered Time Deposit Information The FFIEC is proposing to revise the reporting treatment of brokered time deposits on Call Report Schedule RC-E, Deposit Liabilities. Memorandum item 2.b, Total time deposits of less than $100,000, would be revised to include brokered time deposits issued in denominations of $100,000 or more that are participated out by the broker in shares of less than $100,000, as well as brokered certificates of deposit issued in $1,000 amounts under a master certificate of deposit. Memorandum item 2.c, Total time deposits of $100,000 or more, would be revised to exclude such brokered deposits. The Federal Reserve proposes to make similar instructional changes to seven data items on Schedule HC-E, Deposit Liabilities, to retain consistent definitions with the Call Report and to accommodate the consolidation of subsidiary bank information into the FR Y-9C report. The Federal Reserve proposes to revise the instructions for data item 1.d, Time deposits of less than $100,000 held in domestic offices of commercial bank subsidiaries; data item 2.d, Time deposits of less than $100,000 held in domestic offices of other depository institution subsidiaries; Memorandum item 1, Brokered deposits less than $100,000 with a remaining maturity of one year or less; and Memorandum item 2, Brokered deposits less than $100,000 with a remaining maturity of more than one year, to include brokered time deposits issued in denominations of $100,000 or more that are participated out by the broker in shares of less than $100,000 and brokered certificates of deposit issued in $1,000 amounts under a master certificate of deposit. Data item 1.e, Time deposits of $100,000 or more held in domestic offices of commercial bank subsidiaries; data item 2.e, Time deposits of $100,000 or more held in domestic offices of other depository institution subsidiaries; and Memorandum item 3, Time deposits of $100,000 or more with a remaining maturity of one year or less, would be revised to exclude such brokered time deposits. Instructional Clarifications *Servicing of Loan Participations* BHCs report the outstanding principal balance of assets serviced for others in Memorandum item 2 of Schedule HC-S, Servicing, Securitization, and Asset Sale Activities. In Memoranda items 2.a and 2.b, BHCs report the amounts of 1-4 family residential mortgages serviced with recourse and without recourse, respectively. Memorandum item 2.c covers all other loans and financial assets serviced for others, but BHCs are required to report the amount of such servicing only if the servicing volume is more than $10 million. The instructions for Memorandum item 2 do not explicitly state whether a bank holding company that has sold a participation in a 1-4 family residential mortgage or other loan or financial asset, which it continues to service, should include the servicing in Memorandum item 2.a, 2.b, or 2.c, as appropriate. The absence of clear instructional guidance has resulted in questions from banking institutions and has produced diversity in practice among BHCs. Subject to the reporting threshold that applies to Memorandum item 2.c, Memorandum item 2 was intended to cover the entire volume of loans and other financial assets for which BHCs perform the servicing function, regardless of whether the servicing involves whole loans and other financial assets or only portions thereof, as is typically the case with loan participations. The risks and responsibilities inherent in servicing are present whether all or part of a loan or financial asset is serviced for the benefit of another party. Accordingly, the Federal Reserve proposes to clarify the instructions to Memorandum item 2 of Schedule HC-S to explicitly state that the amount of loan participations serviced for others should be included in this data item. *2. Report title:* Financial Statements of U.S. Nonbank Subsidiaries of U.S. Bank Holding Companies. *Agency form number:* FR Y-11. *OMB control number:* 7100-0244. *Frequency:* Quarterly and annually. *Reporters:* Bank holding companies (BHCs). *Annual reporting hours:* FR Y-11 (quarterly): 32,690; FR Y-11 (annually): 1,911. *Estimated average hours per response:* FR Y-11 (quarterly): 6.35; FR Y-11 (annually): 6.35. *Number of respondents:* FR Y-11 (quarterly): 1,287; FR Y-11 (annually): 301. *General description of report:* This information collection is mandatory (12 U.S.C. §§1844(c)). Confidential treatment is not routinely given to the data in these reports. However, confidential treatment for the reporting information, in whole or in part, can be requested in accordance with the instructions to the form, pursuant to section (b)(4) of the Freedom of Information Act [5 U.S.C. §§522(b)(4)]. *Abstract:* The FR Y-11 reports collect financial information for individual U.S. nonbank subsidiaries of domestic BHCs. BHCs file the FR Y-11 on a quarterly or annual basis according to filing criteria. The FR Y-11 data are used with other BHC data to assess the condition of BHCs that are heavily engaged in nonbanking activities and to monitor the volume, nature, and condition of their nonbanking operations. *Current actions:* Recently, the volume of 1-4 family residential mortgage loan products whose terms allow for negative amortization and the number of institutions providing borrowers with such loans has increased significantly. Loans with this feature are structured in a manner that may result in an increase in the loan's principal balance even when the borrower's payments are technically current. When loans with negative amortization are not prudently underwritten and not properly monitored, they raise safety and soundness concerns. Currently the Federal Reserve has no readily available means of identifying the industry's exposure to such loans. Therefore, the Federal Reserve proposes to collect four data items at the nonbank subsidiary level to monitor the extension of negatively amortizing residential mortgage loans in the industry and to parallel the data items being proposed for inclusion on the FR Y-9C. The Federal Reserve proposes to collect one memorandum item from all nonbank subsidiaries on Schedule BS-A, Loan and Leases Financing Receivables, for the total amount of closed-end loans with negative amortization features secured by 1-4 family residential properties in order to obtain an overall measure of this potentially higher risk lending activity. In addition, the Federal Reserve proposes to collect two memorandum items on Schedule BS-A and one memorandum item on Schedule IS, Income Statement, from nonbank subsidiaries with a significant volume of negatively amortizing 1-4 family residential mortgage loans. The Federal Reserve's determination of the threshold for significant volume would be based on the aggregate carrying amount of negatively amortizing loans in excess of a certain percentage of the total loans and leases reported on Schedule BS-A, for example, 5 percent or 10 percent. A nonbank with negatively amortizing loans would determine whether it met the size threshold for reporting the three additional memorandum items based on data reported from the previous year-end FR Y-11. The Federal Reserve requests public comment on the percentage of loans that should be used in setting the size threshold for additional reporting on negatively amortizing loans. In addition, the Federal Reserve seeks comment as to whether the percentage threshold established for the nonbank subsidiary reports should be consistent with or differ from the percentage threshold established for the FR Y-9C. The Federal Reserve also proposes two additional Schedule BS-A memorandum items to collect
(1)the total maximum remaining amount of negative amortization contractually permitted on closed-end loans secured by 1-4 family residential properties and
(2)the total amount of negative amortization on closed-end loans secured by 1-4 family residential properties that is included in the carrying amount of these loans. The first memorandum item would provide a measure of the maximum exposure that could be incurred for negative amortization loans in the current 1-4 family residential property loan portfolio. The second memorandum item would then identify what component of 1-4 family mortgage loans is comprised of negative amortization loans. The Schedule IS memorandum item is year-to-date non-cash income on closed-end loans with a negative amortization feature secured by 1-4 family residential properties. This memorandum item would identify the amount and extent of interest revenue accrued and uncollected to ascertain the degree this potentially higher risk lending activity supports the BHC's overall net income. All nonbank subsidiaries with negatively amortizing 1-4 family residential loans in excess of the reporting threshold would report these data items for the entire calendar year following the end of any calendar year when the threshold was exceeded. *3. Report title:* Financial Statements of Foreign Subsidiaries of U.S. Banking Organizations. *Agency form number:* FR 2314. *OMB control number:* 7100-0073. *Frequency:* Quarterly and annually. *Reporters:* Foreign subsidiaries of U.S. state member banks (SMBs), bank holding companies (BHCs), and Edge or agreement corporations. *Annual reporting hours:* FR 2314 (quarterly): 5,402; FR 2314 (annually): 966. *Estimated average hours per response:* FR 2314 (quarterly): 6.40; FR 2314 (annually): 6.40. *Number of respondents:* FR 2314 (quarterly): 211; FR 2314 (annually): 151. *General description of report:* This information collection is mandatory (12 U.S.C. §§324, 602, 625, and 1844(c). Confidential treatment is not routinely given to the data in these reports. However, confidential treatment for the reporting information, in whole or in part, can be requested in accordance with the instructions to the form, pursuant to section (b)(4) of the Freedom of Information Act [5 U.S.C. §§522(b)(4)]. *Abstract:* The FR 2314 reports collect financial information for direct or indirect foreign subsidiaries of U.S. SMBs, Edge and agreement corporations, and BHCs. Parent organizations (SMBs, Edge and agreement corporations, or BHCs) file the FR 2314 on a quarterly or annual basis according to filing criteria. The FR 2314 data are used to identify current and potential problems at the foreign subsidiaries of U.S. parent companies, to monitor the activities of U.S. banking organizations in specific countries, and to develop a better understanding of activities within the industry, in general, and of individual institutions, in particular. *Current actions:* Recently, the volume of 1-4 family residential mortgage loan products whose terms allow for negative amortization and the number of institutions providing borrowers with such loans has increased significantly. Loans with this feature are structured in a manner that may result in an increase in the loan's principal balance even when the borrower's payments are technically current. When loans with negative amortization are not prudently underwritten and not properly monitored, they raise safety and soundness concerns. Currently the Federal Reserve has no readily available means of identifying the industry's exposure to such loans. Therefore, the Federal Reserve proposes to collect four data items at the nonbank subsidiary level to monitor the extension of negatively amortizing residential mortgage loans in the industry and to parallel the data items being proposed for inclusion on the FR Y-9C. The Federal Reserve proposes to collect one memorandum item from all nonbank subsidiaries on Schedule BS-A, Loan and Leases Financing Receivables, for the total amount of closed-end loans with negative amortization features secured by 1-4 family residential properties in order to obtain an overall measure of this potentially higher risk lending activity. In addition, the Federal Reserve proposes to collect two memorandum items on Schedule BS-A and one memorandum item on Schedule IS, Income Statement, from nonbank subsidiaries with a significant volume of negatively amortizing 1-4 family residential mortgage loans. The Federal Reserve's determination of the threshold for significant volume would be based on the aggregate carrying amount of negatively amortizing loans in excess of a certain percentage of the total loans and leases reported on Schedule BS-A, for example, 5 percent or 10 percent. A nonbank with negatively amortizing loans would determine whether it met the size threshold for reporting the three additional memorandum items based on data reported from the previous year-end FR 2314. The Federal Reserve requests public comment on the percentage of loans that should be used in setting the size threshold for additional reporting on negatively amortizing loans. In addition, the Federal Reserve seeks comment as to whether the percentage threshold established for the nonbank subsidiary reports should be consistent with or differ from the percentage threshold established for the FR Y-9C. The Federal Reserve also proposes two additional Schedule BS-A memorandum items to collect
(1)the total maximum remaining amount of negative amortization contractually permitted on closed-end loans secured by 1-4 family residential properties and
(2)the total amount of negative amortization on closed-end loans secured by 1-4 family residential properties that is included in the carrying amount of these loans. The first memorandum item would provide a measure of the maximum exposure that could be incurred for negative amortization loans in the current 1-4 family residential property loan portfolio. The second memorandum item would then identify what component of 1-4 family mortgage loans is comprised of negative amortization loans. The Schedule IS memorandum item is year-to-date non-cash income on closed-end loans with a negative amortization feature secured by 1-4 family residential properties. This memorandum item would identify the amount and extent of interest revenue accrued and uncollected to ascertain the degree this potentially higher risk lending activity supports the BHC's overall net income. All nonbank subsidiaries with negatively amortizing 1-4 family residential loans in excess of the reporting threshold would report these data items for the entire calendar year following the end of any calendar year when the threshold was exceeded. The Federal Reserve proposes to add the section Notes to the Financial Statements to allow respondents the opportunity to provide, at their option, any material information included in specific data items on the financial statements that the parent U.S. banking organization wishes to explain. The addition of this section would enable the Federal Reserve to automate information that respondents may want to report as footnotes to various reported data items and provide for release of this information to the public. This section is currently included on the FR Y-11. Proposal to approve under OMB delegated authority the implementation of the following survey: *Report title:* Central Bank Survey of Foreign Exchange and Derivatives Market Activity *Agency form number:* FR 3036 *OMB control number:* 7100-0285 *Frequency:* One-time *Reporters:* Financial institutions that serve as intermediaries in the wholesale foreign exchange and derivatives market and dealers. *Annual reporting hours:* 3,150 *Estimated average hours per response:* Turnover survey: 51 hours; outstandings survey: 60 hours *Number of respondents:* 60 *General description of report:* This information collection is voluntary (12 U.S.C. 225a, 248(a)(2), 358, and 3105(c)) and is given confidential treatment (5 U.S.C. '552(b)(4)). *Abstract:* The FR 3036 is the U.S. part of a global data collection that is conducted by central banks every three years. More than fifty central banks plan to conduct the survey in 2007. The Bank for International Settlements compiles national data from each central bank to produce global market statistics. The Federal Reserve System and other government agencies use the survey to monitor activity in the foreign exchange and derivatives markets. Respondents use the published data to gauge their market share. *Current actions:* The proposed survey would collect information on the size and structure of the foreign exchange and over-the-counter derivatives markets. The survey would cover the turnover in the foreign exchange spot market, the foreign exchange derivatives market, and interest rate derivatives markets (forwards, swaps, and options). In addition, the survey would gather data on the notional amounts and gross positive and negative market values of outstanding derivatives contracts for over-the-counter foreign exchange, interest rates, equities, and commodities. To reduce reporting burden, the Derivatives Outstanding part of the survey is coordinated with the Semiannual Report of Derivatives Activity (FR 2436; OMB No. 7100-0286). Those firms that submit FR 2436 data would not complete the Derivatives Outstanding part of the survey. Differences between the proposed survey and the 2004 survey are as follows: 1. The abbreviated report for FR 2436 reporters has been eliminated from the Outstanding survey. Data on credit derivatives are now submitted on the FR 2436. 2. Data items to capture credit default swaps have been added to the Outstanding survey to be consistent with the FR 2436. Given the growth in the credit derivative market, these data are important component of understanding the structure and activity of the overall over-the-counter derivatives market. 3. Additional currencies have been identified in tables on interest rate derivatives and on foreign exchange transactions on both the Outstanding and Turnover surveys. This change will facilitate reporting and ensure comprehensive identification of turnover in all participating countries' currencies. Reporting central banks will retain discretion to customize this list. 4. The section on electronic trading and identification of execution method has been simplified and adjusted in order to better distinguish between categories on the Turnover survey. 5. The definition of internal and related party trades has been clarified on the Turnover survey in order to improve consistency of data reporting. 6. The two data items in the memorandum section concerning trading activity trends on the Turnover survey have been split into four data items to provide detail on derivative contracts markets since these markets behave very differently. Board of Governors of the Federal Reserve System, January 8, 2007. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E7-246 Filed 1-10-07; 8:45 am] BILLING CODE 6210-01-S FEDERAL RESERVE SYSTEM Agency information collection activities: Announcement of Board approval under delegated authority and submission to OMB AGENCY: Board of Governors of the Federal Reserve System SUMMARY: Background Notice is hereby given of the final approval of proposed information collection by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority, as per 5 CFR 1320.16 (OMB Regulations on Controlling Paperwork Burdens on the Public). Board-approved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB's public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number. FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer --Michelle Shore--Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, DC 20551 (202-452-3829). OMB Desk Officer--Mark Menchik--Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, Washington, DC 20503, or e-mail to mmenchik@omb.eop.gov Final approval under OMB delegated authority of the extension for three years, without revision, of the following reports: *(1) Report title:* Disclosure and Reporting Requirements of CRA-Related Agreements *Agency form number:* Reg G *OMB control number:* 7100-0299 *Frequency:* On occasion, annual *Reporters:* Insured depository institutions
(IDIs)and nongovernmental entities or persons (NGEPs) *Annual reporting hours:* 78 hours *Number of respondents:* 3 IDI; 6 NGEPs *Estimated average hours per response:* 1 hour (7 disclosure requirements); 4 hours (2 annual reports) *General description of report:* This information collection is required pursuant the Federal Deposit Insurance Act (FDI Act), 12 U.S.C. 1831y(b) and (c). The FDI Act authorizes the Federal Reserve to require the disclosure and reporting requirements of Regulation G (12 C.F.R. 207). In general, the Federal Reserve does not consider individual respondent commercial and financial information collected by the Federal Reserve pursuant to Regulation G as confidential. However, a respondent may request confidential treatment pursuant to section (b)(4) of Freedom of Information Act, 5 U.S.C 552(b)(4). *Abstract:* Section 48 of the FDI Act imposes disclosure and reporting requirements on IDIs, their affiliates, and NGEPs that enter into written agreements that meet certain criteria. The written agreements must
(1)be made in fulfillment of the Community Reinvestment Act of 1977
(CRA)and
(2)involve funds or other resources of an IDI or affiliate with an aggregate value of more than $10,000 in a year, or loans with an aggregate principal value of more than $50,000 in a year. Section 48 excludes from the disclosure and reporting requirements any agreement between an IDI or its affiliate and an NGEP if the NGEP has not contacted the IDI or its affiliate, or a banking agency, concerning the CRA performance of the IDI. Regulation G contains four disclosure requirements and two reporting requirements for IDIs and affiliates and three disclosure requirements and one reporting requirement for NGEPs. Please see the agency's OMB supporting statement for a summary of the disclosure and reporting requirements of Regulation G, *http://www.federalreserve.gov/boarddocs/reportforms/review.cfm.* The disclosure and reporting requirements in connection with Regulation G are mandatory and apply to state member banks and their subsidiaries; bank holding companies; affiliates of bank holding companies, other than banks, savings associations, and subsidiaries of banks and savings associations; and NGEPs that enter into covered agreements with any of the aforementioned companies. *Current Actions:* On October 18, 2006, the Federal Reserve published a notice in the Federal Register (71 FR 61473) requesting public comment for 60 days on the extension, without revision, of the Disclosure and Reporting Requirements of CRA-Related Agreements. The comment period for this notice expired on December 18, 2006. The Federal Reserve did not receive any comments. *(2) Report title:* Disclosure Requirements in Connection With Regulation H (Consumer Protections in Sales of Insurance) *Agency form number:* Reg H-7 *OMB control number:* 7100-0298 *Frequency:* On occasion *Reporters:* State member banks *Annual reporting hours:* 14,159 hours *Number of respondents:* 899 *Estimated average hours per response:* 1.5 minutes *General description of report:* This information collection is mandatory pursuant the Federal Deposit Insurance Act, 12 U.S.C. 1831x. Since the Federal Reserve does not collect any information, no issue of confidentiality normally arises. *Abstract:* Section 305 of the Gramm-Leach-Bliley Act requires financial institutions to provide written and oral disclosures to consumers in connection with the initial sale of an insurance product or annuity concerning its uninsured nature and the existence of the investment risk, if appropriate, and the fact that insurance sales and credit may not be tied. Covered persons must make insurance disclosures before the completion of the initial sale of an insurance product or annuity to a consumer. The disclosure must be made orally and in writing to the consumer that:
(1)the insurance product or annuity is not a deposit or other obligation of, or guaranteed by, the financial institution or an affiliate of the financial institution;
(2)the insurance product or annuity is not insured by the FDIC or any other agency of the United States, the financial institution, or (if applicable) an affiliate of the financial institution; and
(3)in the case of an insurance product or annuity that involves an investment risk, there is investment risk associated with the product, including the possible loss of value. Covered persons must make a credit disclosure at the time a consumer applies for an extension of credit in connection with which an insurance product or annuity is solicited, offered, or sold. The disclosure must be made orally and in writing that the financial institution may not condition an extension of credit on either:
(1)the consumer's purchase of an insurance product or annuity from the financial institution or any of its affiliates; or
(2)the consumer's agreement not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity. *Current Actions:* On October 18, 2006, the Federal Reserve published a notice in the Federal Register (71 FR 61473) requesting public comment for 60 days on the extension, without revision, of the Disclosure Requirements in Connection With Regulation H. The comment period for this notice expired on December 18, 2006. The Federal Reserve did not receive any comments. *(3) Report title:* Domestic Branch Notification *Agency form number:* FR 4001 *OMB Control number:* 7100-0097 *Frequency:* On occasion *Reporters:* State member banks *Annual reporting hours:* 2,244 hours *Estimated average hours per response:* 30 minutes for expedited notifications; 1 hour for nonexpedited notifications *Number of respondents:* 382 expedited; 2,053 nonexpedited *General description of report:* This information collection is mandatory per Section 9(3) of the Federal Reserve Act (12 U.S.C. § 321) and is not given confidential treatment. *Abstract:* The Federal Reserve Act and Regulation H require a state member bank to seek prior approval of the Federal Reserve System before establishing or acquiring a domestic branch. Such requests for approval must be filed as notifications at the appropriate Reserve Bank for the state member bank. Due to the limited information that a state member bank generally has to provide for branch proposals, there is no formal reporting form for a domestic branch notification. A state member bank is required to notify the Federal Reserve by letter of its intent to establish one or more new branches, and provide with the letter evidence that public notice of the proposed branch(es) has been published by the state member bank in the appropriate newspaper(s). The Federal Reserve uses the information provided to fulfill its statutory obligation to review any public comment on proposed branches before acting on the proposals, and otherwise to supervise state member banks. *Current Actions:* On October 18, 2006, the Federal Reserve published a notice in the Federal Register (71 FR 61472) requesting public comment for 60 days on the extension, without revision, of the Domestic Branch Notification. The comment period for this notice expired on December 18, 2006. The Federal Reserve did not receive any comments. Board of Governors of the Federal Reserve System, January 8, 2007. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E7-247 Filed 1-10-07 8:45 am] BILLING CODE 6210-01-S FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 *et seq.* ) (BHC Act), Regulation Y (12 CFR Part 225), and all other applicable statutes and regulations to become a bank holding company and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below. The applications listed below, as well as other related filings required by the Board, are available for immediate inspection at the Federal Reserve Bank indicated. The application also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the acquisition of a nonbanking company, the review also includes whether the acquisition of the nonbanking company complies with the standards in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Additional information on all bank holding companies may be obtained from the National Information Center website at *www.ffiec.gov/nic/* . Unless otherwise noted, comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than February 5, 2007. **A. Federal Reserve Bank of Cleveland** (Douglas A. Banks, Vice President) 1455 East Sixth Street, Cleveland, Ohio 44101-2566: *1. Middlefield Banc Corp, Middlefield, Ohio;* , to acquire 100 percent of the voting shares of Emerald Bank and EB Interim Bank, both of Dublin, Ohio. **B. Federal Reserve Bank of Chicago** (Patrick M. Wilder, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414: *1. Grant County State Bancshares, Inc. Employee Stock Ownership Plan, Swayzee, Indiana;* , to increase its ownership to 42 percent of the outstanding voting shares of Grant County State Bancshares, Inc., Swayzee, Indiana, as a result of a stock redemption, and thereby increase its indirect ownership of Grant County State Bank, Swayzee, Indiana. Board of Governors of the Federal Reserve System, January 8, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7-243 Filed 1-10-07; 8:45 am] BILLING CODE 6210-01-S FEDERAL RESERVE SYSTEM Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities The companies listed in this notice have given notice under section 4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and Regulation Y (12 CFR Part 225) to engage *de novo* , or to acquire or control voting securities or assets of a company, including the companies listed below, that engages either directly or through a subsidiary or other company, in a nonbanking activity that is listed in § 225.28 of Regulation Y (12 CFR 225.28) or that the Board has determined by Order to be closely related to banking and permissible for bank holding companies. Unless otherwise noted, these activities will be conducted throughout the United States. Each notice is available for inspection at the Federal Reserve Bank indicated. The notice also will be available for inspection at the offices of the Board of Governors. Interested persons may express their views in writing on the question whether the proposal complies with the standards of section 4 of the BHC Act. Additional information on all bank holding companies may be obtained from the National Information Center website at *www.ffiec.gov/nic/* . Unless otherwise noted, comments regarding the applications must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than January 26, 2007. **A. Federal Reserve Bank of Chicago** (Patrick M. Wilder, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414: *1. State Center Financial, Inc.* , State Center, Iowa, to engage *de novo* in extending credit and servicing loans, pursuant to section 225.28 (b)(1) of Regulation Y. Board of Governors of the Federal Reserve System, January 8, 2007. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. E7-244 Filed 1-10-07; 8:45 am] BILLING CODE 6210-01-S FEDERAL TRADE COMMISSION [File No. 042 3127] Goen Technologies Corp., et al.; Analysis of Proposed Consent Order To Aid Public Comment AGENCY: Federal Trade Commission. ACTION: Proposed consent agreement. SUMMARY: The consent agreement in this matter settles alleged violations of federal law prohibiting unfair or deceptive acts or practices or unfair methods of competition. The attached Analysis to Aid Public Comment describes both the allegations in the draft complaint and the terms of the consent order—embodied in the consent agreement—that would settle these allegations. DATES: Comments must be received on or before February 5, 2007. ADDRESSES: Interested parties are invited to submit written comments. Comments should refer to “Goen Technologies Corp., *et al.* , File No. 042 3127,” to facilitate the organization of comments. A comment filed in paper form should include this reference both in the text and on the envelope, and should be mailed or delivered to the following address: Federal Trade Commission, Office of the Secretary, Room 135-H, 600 Pennsylvania Avenue, NW., Washington, DC 20580. Comments containing confidential material must be filed in paper form, must be clearly labeled “Confidential,” and must comply with Commission Rule 4.9(c). 16 CFR 4.9(c) (2005). 1 The FTC is requesting that any comment filed in paper form be sent by courier or overnight service, if possible, because U.S. postal mail in the Washington area and at the Commission is subject to delay due to heightened security precautions. Comments that do not contain any nonpublic information may instead be filed in electronic form as part of or as an attachment to email messages directed to the following e-mail box: *consentagreement@ftc.gov.* 1 The comment must be accompanied by an explicit request for confidential treatment, including the factual and legal basis for the request, and must identify the specific portions of the comment to be withheld from the public record. The request will be granted or denied by the Commission's General Counsel, consistent with applicable law and the public interest. *See* Commission Rule 4.9(c), 16 CFR 4.9(c). The FTC Act and other laws the Commission administers permit the collection of public comments to consider and use in this proceeding as appropriate. All timely and responsive public comments, whether filed in paper or electronic form, will be considered by the Commission, and will be available to the public on the FTC Web site, to the extent practicable, at *www.ftc.gov.* As a matter of discretion, the FTC makes every effort to remove home contact information for individuals from the public comments it receives before placing those comments on the FTC Web site. More information, including routine uses permitted by the Privacy Act, may be found in the FTC's privacy policy, at *http://www.ftc.gov/ftc/privacy.htm.* FOR FURTHER INFORMATION CONTACT: Matthew Daynard (202/326-3291), Bureau of Consumer Protection, 600 Pennsylvania Avenue, NW., Washington, DC 20580. SUPPLEMENTARY INFORMATION: Pursuant to section 6(f) of the Federal Trade Commission Act, 38 Stat. 721, 15 U.S.C. 46(f), and § 2.34 of the Commission Rules of Practice, 16 CFR 2.34, notice is hereby given that the above-captioned consent agreement containing a consent order to cease and desist, having been filed with and accepted, subject to final approval, by the Commission, has been placed on the public record for a period of thirty
(30)days. The following Analysis to Aid Public Comment describes the terms of the consent agreement, and the allegations in the complaint. An electronic copy of the full text of the consent agreement package can be obtained from the FTC Home Page (for January 4, 2007), on the World Wide Web, at *http://www.ftc.gov/os/2007/01/index.htm.* A paper copy can be obtained from the FTC Public Reference Room, Room 130-H, 600 Pennsylvania Avenue, NW., Washington, DC 20580, either in person or by calling
(202)326-2222. Public comments are invited, and may be filed with the Commission in either paper or electronic form. All comments should be filed as prescribed in the ADDRESSES section above, and must be received on or before the date specified in the DATES section. Analysis of Agreement Containing Consent Order To Aid Public Comment The Federal Trade Commission has accepted, subject to final approval, an agreement containing a consent order from Goen Technologies Corp., Nutramerica Corp., TrimSpa, Inc., and Alexander Szynalski a/k/a Alexander Goen (together, “respondents”). The proposed consent order has been placed on the public record for thirty
(30)days for receipt of comments by interested persons. Comments received during this period will become part of the public record. After thirty
(30)days, the Commission will again review the agreement and the comments received, and will decide whether it should withdraw from the agreement or make final the agreement's proposed order. This matter involves the advertising and promotion of TrimSpa® Completely Ephedra Free Formula X32 (“TrimSpa X32”), a dietary supplement that, according to its label, contains, among other ingredients, Hoodia gordonii, chromium, vanadium, glucomannan, citrus naringine, glucosamine HCI, cocoa extract, and green tea extract. According to the FTC complaint, respondents represented that TrimSpa X32 causes rapid and substantial weight loss; and that Hoodia gordonii—an African appetite suppressant—in TrimSpa X32 enables users to lose substantial amounts of weight by suppressing their appetite. The complaint alleges that respondents failed to have substantiation for these claims. The proposed consent order contains provisions designed to prevent respondents from engaging in similar acts and practices in the future. Part I of the proposed order requires respondents to have competent and reliable scientific evidence substantiating any claims that a covered product or service causes rapid and substantial weight loss or that the Hoodia gordonii, or any other appetite suppressant, in a covered product enables users to lose substantial amounts of weight by suppressing their appetite. The provision further requires that any such claim be true. A “covered product or service” is defined as “any dietary supplement, food, drug, or device, or any health-related service or program.” Part I.C. further requires that future claims about the health benefits, performance, efficacy, safety, or side effects of any covered product or service be truthful and supported by competent and reliable scientific evidence. Part II of the proposed order provides that the order does not prohibit respondents from making representations for any drug that are permitted in labeling for the drug under any tentative final or final Food and Drug Administration (“FDA”) standard or under any new drug application approved by the FDA; representations for any medical device that are permitted in labeling under any new medical device application approved by the FDA; and representations for any product that are specifically permitted in labeling for that product by regulations issued by the FDA under the Nutrition Labeling and Education Act of 1990. Part III provides for the payment of $1,500,000 to the Commission. Part IV of the proposed order requires respondents to provide the Commission with a list of all consumers who respondents know purchased TrimSpa X32 from March 1, 2003 through the date of entry of this Order. Parts V through IX require respondents to keep copies of relevant advertisements and materials substantiating claims made in the advertisements; to provide copies of the order to certain of their personnel; to notify the Commission of changes in corporate structure (for the corporate respondents) and changes in employment (for the individual respondent) that might affect compliance obligations under the order; and to file compliance reports with the Commission. Part X provides that the order will terminate after twenty
(20)years under certain circumstances. The purpose of this analysis is to facilitate public comment on the proposed order, and it is not intended to constitute an official interpretation of the agreement and proposed order or to modify in any way their terms. By direction of the Commission, with Commissioner Rosch recused. Donald S. Clark, Secretary. [FR Doc. E7-206 Filed 1-10-07; 8:45 am] BILLING CODE 6750-01-P DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention Disease, Disability, and Injury Prevention and Control; Special Emphasis Panel: Musculoskeletal Research on Occupational Safety, Program Announcement
(PA)04-038 In accordance with section 10(a)(2) of the Federal Advisory Committee Act (Pub. L. 92-463), the Centers for Disease Control and Prevention
(CDC)announces a meeting of the aforementioned Special Emphasis Panel. *Time and Date:* 1 p.m.-2 p.m., January 29, 2007 (Closed). *Place:* National Institute for Occupational Safety and Health (NIOSH), CDC, 626 Cochrans Mill Road, Pittsburgh, PA 15236. *Status:* The meeting will be closed to the public in accordance with provisions set forth in section 552b(c)(4) and (6), Title 5 U.S.C., and the Determination of the Director, Management Analysis and Services Office, CDC, pursuant to Public Law 92-463. *Matters To Be Discussed:* The meeting will include the review, discussion, and evaluation of a research grant application in response to “Musculoskeletal Research on Occupational Safety,” PA 04-038. *For Further Information Contact:* George Bokosh, Scientific Review Administrator, NIOSH, 626 Cochrans Mill Road, Pittsburgh, PA 15236, telephone
(412)386-6465. The Director, Management Analysis and Services Office, has been delegated the authority to sign **Federal Register** notices pertaining to announcements of meetings and other committee management activities, for both CDC and the Agency for Toxic Substances and Disease Registry. Dated: January 4, 2007. Elaine Baker, Acting Director, Management Analysis and Services Office, Centers for Disease Control and Prevention. [FR Doc. E7-215 Filed 1-10-07; 8:45 am] BILLING CODE 4163-18-P DEPARTMENT OF HEALTH AND HUMAN SERVICES Health Resources and Services Administration Advisory Committee on Organ Transplantation AGENCY: Health Resources and Services Administration (HRSA), HHS. ACTION: Notice of ACOT Meeting to be held by Conference Call. SUMMARY: The Advisory Committee on Organ Transplantation
(ACOT)will be conducting a conference call to discuss the revision of the Uniform Anatomical Gift Act (UAGA). DATES: The conference call will be held on January 26, 2007, at 12 noon to 1 p.m. EST. Participants must dial:
(888)946-7610 and enter the corresponding pass code 30431. For security reasons, the pass code 30431 and Remy Aronoff's name, as call leader, are required to join the call. Participants should call no later than 11:50 a.m. EST in order for the logistics to be set up. Participants are asked to register for the conference by contacting Diane Cheslosky at
(301)443-6839 or e-mail *diane.cheslosky@hrsa.hhs.gov.* The registration deadline is January 24, 2007. The Department will try to accommodate those wishing to participate in the call. Any member of the public can submit written materials that will be distributed to Committee members prior to the conference call. Parties wishing to submit written comments should ensure that the comments are postmarked or e-mailed no later than January 24, 2007, for consideration. Comments should be submitted to Remy Aronoff, Executive Secretary, ACOT, Healthcare Systems Bureau, HRSA, Parklawn Building, Room 12C-06, 5600 Fishers Lane, Rockville, Maryland 20857; telephone
(301)443-3264; fax
(301)594-6095; or e-mail: *remy.aronoff@hrsa.hhs.gov.* Members of the public can present oral comments during the conference call during the public comment period. If a member of the public wishes to speak, the Department should be notified at the time the participant registers. Other members of the public will be allocated time if time permits. FOR FURTHER INFORMATION CONTACT: Remy Aronoff, Executive Secretary, ACOT, Healthcare Systems Bureau, HRSA, Parklawn Building, Room 12C-06, 5600 Fishers Lane, Rockville, Maryland 20857; telephone
(301)443-3264; fax
(301)594-6095; or e-mail: *remy.aronoff@hrsa.hhs.gov.* SUPPLEMENTARY INFORMATION: The UAGA is a model law drafted by the National Conference of Commissioners on Uniform State Laws in an effort to achieve uniformity among the anatomical gift laws of the States. Three ACOT recommendations provided a stimulus for revising the UAGA. In particular, recommendation number 10 (recommendation to engage in legislative strategies to encourage medical examiners not to withhold life-saving organs); recommendation number 19 (recommendation to take steps to ensure that the donors' wishes are fulfilled); and recommendation number 20 (recommendation that the State update the law governing anatomical gifts). The initial UAGA was written in 1968. The purpose of this call is to hear discussion from the ACOT members and, if the Committee chooses, to develop a recommendation from the ACOT to the Secretary concerning the revised UAGA. Dated: January 3, 2007. Elizabeth M. Duke, Administrator. [FR Doc. E7-212 Filed 1-10-07; 8:45 am] BILLING CODE 4165-15-P DEPARTMENT OF HEALTH AND HUMAN SERVICES National Institutes of Health National Cancer Institute; Notice of Meeting Pursuant to section 10(d) of the Federal Advisory Committee Act, as amended (5 U.S.C. Appendix 2), notice is hereby given of the meeting of the President's Cancer Panel. The meeting will be open to the public as indicated below, with attendance limited to space available. Individuals who plan to attend and need special assistance, such as sign language interpretation or other reasonable accommodations, should notify the Contact Person listed below in advance of the meeting. The meeting will be closed to the public in accordance with the provisions set forth in section 552b(c)(9)(B), Title 5 U.S.C., as amended, because the premature disclosure of information and the discussions would be likely to significantly frustrate implementation of recommendations. *Name of Committee:* President's Cancer Panel. *Date:* February 12, 2007. *Open:* February 12, 2007, 8 a.m.-4 p.m. *Agenda:* Promoting Healthy Lifestyles to Reduce the Risk of Cancer. *Place:* University of Mississippi Medical Center, 2500 North State Street, Jackson, MS 39216. *Closed:* February 12, 2007, 4 p.m.-6 p.m. *Agenda:* The Panel will discuss the Promoting Healthy Lifestyles to Reduce the Risk of Cancer and discuss potential topics for the 2007/2008 series. *Place:* University of Mississippi Medical Center, 2500 North State Street, Jackson, MS 39216. *Contact Person:* Abby Sandler, PhD, Executive Secretary, National Cancer Institute, National Institutes of Health, Building 6116, Room 212, 6116 Executive Boulevard, Bethesda, MD 20892, 301/451-9399. Any interested person may file written comments with the committee by forwarding the comments to the Contact Person listed on this notice. The comments should include the name, address, telephone number and, when applicable, the business or professional affiliation of the interested person. Information is also available on the Institute's/Center's home page: *deainfo.nci.nih.gov/advisory/pcp/pcp.htm* , where an agenda and any additional information for the meeting will be posted when available. (Catalogue of Federal Domestic Assistance Program Nos. 93.392, Cancer Construction; 93.393, Cancer Cause and Prevention Research; 93.394, Cancer Detection and Diagnosis Research; 93.395, Cancer Treatment Research; 93.396, Cancer Biology Research; 93.397, Cancer Centers Support; 93.398, Cancer Research Manpower; 93.399, Cancer Control, National Institutes of Health, HHS) Dated: January 4, 2007. Anna Snouffer, Acting Director, Office of Federal Advisory Committee Policy. [FR Doc. 07-68 Filed 1-10-07; 8:45 am]
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Traces to 16 documents
U.S. Code
- Federal reserve banks; title§ 225
- Public information; agency rules, opinions, orders, records, and proceedings§ 552
- Enumerated powers§ 248
- Administration§ 1844
- Laws applicable on becoming members§ 324
- Maintenance of long run growth of monetary and credit aggregates§ 225a
- CRA sunshine requirements§ 1831y
- Insurance customer protections§ 1831x
- Application for membership§ 321
- Definitions§ 1841
- Acquisition of bank shares or assets§ 1842
- Interests in nonbanking organizations§ 1843
- Additional powers of Commission§ 46
11 references not yet in our index
- Pub. L. 106-284
- 114 Stat. 970
- 40 CFR 31.40
- 40 CFR 31
- 5 CFR 1320.16
- 5 CFR 1320
- 5 USC 522(b)(4)
- 12 CFR 207
- 12 CFR 225
- 38 Stat. 721
- Pub. L. 92-463
Citation graph
cites case law
Notices
Notice of final order on petition to object to a state operating permit
Pub. L.Pub. L. 106-284
Stat.114 Stat. 970
Cite40 CFR 31.40
Cites 27 · showing 12Cited by 0 across 0 sources