Unknown. Final rule
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/register/2010/10/26/2010-27014A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
--- schema: federal-register doc_type: fedreg source_file: FR-2010-10-26.xml --- 75 206 Tuesday, October 26, 2010 Contents Administration Administration Office, Executive Office of the President See National Commission on Fiscal Responsibility and Reform Agriculture Agriculture Department See Food and Nutrition Service See Forest Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65606-65607 2010-27065 Air Force Air Force Department NOTICES Performance Review Board for Department of Air Force;
Names of Members, 65614 2010-26934 Antitrust Antitrust Division NOTICES 1993 National Cooperative Research and Production Act: Advanced Media Workflow Association, Inc., 65656 2010-26741 Alliance for Water Stewardship, 65657-65658 2010-26734 ASTM International, 65657 2010-26736 International SAE Consortim Ltd., 65657 2010-26737 Pistoia Alliance, Inc., 65656-65657 2010-26740 Army Army Department See Engineers Corps NOTICES Non-Exclusive or Partially-Exclusive Licensing of Inventions;
Availability: Obstetrics Simulation and Training Method System, 65614 2010-27064 Centers Centers for Disease Control and Prevention NOTICES National Centers for Disease Control and Prevention's 2010 Performance Review Board (PRB); Members, 65642 2010-26999 Children Children and Families Administration NOTICES Awards of Single-Source Program Expansion Supplement Grants: Research Foundation of State University of New York
(SUNY)at Albany, NY, for National Child Welfare Workforce Institute (NCWWI), 65638 2010-26936 Civil Civil Rights Commission NOTICES Meetings: South Dakota Advisory Committee; Agenda, 65610-65611 2010-26996 Coast Guard Coast Guard RULES Drawbridge Operation Regulations: Mystic River, Charlestown, MA, 65567 2010-26984 Commerce Commerce Department See Foreign-Trade Zones Board See National Oceanic and Atmospheric Administration See Patent and Trademark Office CITA Committee for the Implementation of Textile Agreements NOTICES Determinations: Textile and Apparel Commercial Availability Provision of Dominican Republic-Central America-U.S. Free Trade Agreement, 65609-65610 2010-27078 Commodity Commodity Futures Trading Commission PROPOSED RULES Agricultural Commodity Definition, 65586-65593 2010-26951 Corporation Corporation for National and Community Service PROPOSED RULES Retired and Senior Volunteer Program Amendments, 65595-65599 2010-26960 Defense Defense Department See Air Force Department See Army Department See Engineers Corps Department of Transportation See Pipeline and Hazardous Materials Safety Administration Drug Drug Enforcement Administration NOTICES Importers of Controlled Substances; Applications: Cody Laboratories Inc., Cody, WY, 65658 2010-27023 Noramco, Inc., Division of Ortho-McNeil, Inc., Wilmington, DE, 65658 2010-27025 Manufacturers of Controlled Substances; Applications: Aldrich Chemical Co. Inc., DBA Isotec, Miamisburg, OH, 65658-65659 2010-27018 Cedarburg Pharmaceuticals, Inc., Grafton, WI, 65659 2010-27021 Chemic Laboratories, Inc., Canton, MA, 65659-65660 2010-27037 Johnson Matthey Inc., Custom Pharmaceuticals Department, West Deptford, NJ, 65659 2010-27019 Noramco Inc., Athens, GA, 65660 2010-27032 Manufacturers of Controlled Substances; Registrations: Archimica, Inc., Springfield, MO, 65660 2010-27035 Revocations of Registrations: Gilbert Eugene Johnson, MD, 65663-65667 2010-27028 Lincoln Pharmacy, Edison, NJ, 65667-65668 2010-27026 Steven B. Brown MD, 65660-65663 2010-27031 Education Education Department RULES High School Equivalency and College Assistance Migrant, Federal TRIO, and Gaining Early Awareness and Readiness for Undergraduate Programs, 65712-65803 2010-24324 Election Election Assistance Commission NOTICES Charter Renewals: Standards Board, 65614 2010-27091 Energy Energy Department See Federal Energy Regulatory Commission NOTICES Meetings: Environmental Site-Specific Board, Advisory Board, Portsmouth, 65615 2010-26444 Record Of Decision: Conditional Commitment for Federal Loan Guarantee for Project Financing; Southwest Intertie Project - South, 65615-65618 2010-27046 Engineers Engineers Corps NOTICES Environmental Impact Statements; Availability, etc.: Pine Mountain Dam and Lake Project, AR; Withdrawal, 65613-65614 2010-27062 EPA Environmental Protection Agency RULES Approvals and Promulgations of Air Quality Implementation Plans: Ohio; Ohio Ambient Air Quality Standards, 65572-65574 2010-26963 Ohio; Particulate Matter Standards, 65567-65572 2010-26880 PROPOSED RULES Approvals and Promulgations of Air Quality Implementation Plans: Ohio; Ohio Ambient Air Quality Standards, 65594-65595 2010-26964 Ohio; Particulate Matter Standards, 65594 2010-26883 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Hazardous Waste Specific Unit Requirements, etc., 65625-65627 2010-27071 Cross-Media Electronic Reporting Rule State Authorized Program Revision Approvals: Arkansas, 65627 2010-27067 Requests For Nominations: Experts for Review of EPA's Draft Oil Spill Research Strategy, 65627-65629 2010-27073 Executive Office of the President See Presidential Documents See Trade Representative, Office of United States FAA Federal Aviation Administration PROPOSED RULES Establishments of Class E Airspace: Colebrook, NH, 65581 2010-26944 Proposed Amendments and Revocations of Class E Airspace: Vero Beach, FL, 65581-65582 2010-26954 Proposed Amendments of Class E Airspace: Rawlins, WY, 65582-65584 2010-26950 Savannah, TN, 65584-65585 2010-26958 Proposed Establishments of Class E Airspace: Lancaster, NH, 65585-65586 2010-26943 Wolfeboro, NH, 65585 2010-26945 NOTICES Intent to Rule on Requests to Release Airport Property: Tri-Cities Regional Airport, Blountville, TN, 65705-65706 2010-26952 Meetings: RTCA Special Committee 205/EUROCAE WG 71; Software Considerations in Aeronautical Systems, 65706-65707 2010-26946 Federal Energy Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65618-65620 2010-26988 Applications Ready for Environmental Analysis and Soliciting Comments, Recommendations, etc.: Inglis Hydropower, LLC, 65620-65621 2010-26990 Combined Filings: Electric Corporate, 65621-65624 2010-26994 2010-26995 Filings: Southeastern Power Administration, 65624 2010-26987 Western Area Power Administration, 65624 2010-26986 Meetings: North American Electric Reliability Corp., 65624-65625 2010-26989 Preliminary Permit Applications Accepted for Filing and Soliciting Comments, Motions to Intervene, etc.: Osprey II, LLC, 65625 2010-26991 Federal Financial Federal Financial Institutions Examination Council NOTICES Modifications of Annual National Registry Fee, 65629-65630 2010-27054 Federal Highway Federal Highway Administration NOTICES Limitations on Claims for Judicial Review of Actions by FHWA: Final Federal Agency Actions on Proposed Highway in Washington State, 65706 2010-26729 Federal Housing Federal Housing Finance Agency NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65630-65631 2010-27075 FMC Federal Maritime Commission NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65632 2010-27059 Federal Railroad Federal Railroad Administration NOTICES Railroad Rehabilitation and Improvement Financing Program: Consideration and Processing of Applications for Financial Assistance; Correction, 65707-65708 2010-26942 Federal Reserve Federal Reserve System RULES Reserve Requirements of Depository Institutions, 65563-65565 2010-27014 NOTICES Changes in Bank Control: Acquisitions of Shares of Bank or Bank Holding Company, 65631 2010-27012 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 65631 2010-27013 FTC Federal Trade Commission NOTICES Granting of Request for Early Termination of Waiting Period Under Premerger Notification Rules, 65632-65634 2010-26818 Financial Financial Crimes Enforcement Network RULES Transfer and Reorganization of Bank Secrecy Act Regulations, 65806-65879 2010-25914 Fiscal Fiscal Service NOTICES Current Value of Funds Rate, 65710 2010-26815 Fish Fish and Wildlife Service RULES Endangered and Threatened Wildlife and Plants: Reinstatement of Protections for Gray Wolf in Northern Rocky Mountains in Compliance with Court Order, 65574-65579 2010-26765 PROPOSED RULES Migratory Bird Subsistence Harvest in Alaska: Harvest Regulations for Migratory Birds in Alaska During 2011 Season, 65599-65605 2010-27016 NOTICES Endangered and Threatened Wildlife and Plants: Santa Barbara County, CA; Permit, 65646-65647 2010-27002 Food Food and Drug Administration RULES Animal Drugs, Feeds, and Related Products; Withdrawals of Approvals of New Animal Drug Applications: Aklomide; Levamisole Hydrochloride; Nitromide and Sulfanitran, 65565-65566 2010-27011 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Guidance for Industry on Special Protocol Assessment, 65636-65638 2010-26985 Meetings: Cellular, Tissue and Gene Therapies Advisory Committee, 65640-65641 2010-27063 Risk Communication Advisory Committee, 65641 2010-27060 Tobacco Products Scientific Advisory Committee, 65641-65642 2010-27008 Withdrawals of Approvals of New Animal Drug Applications: Aklomide; Levamisole Hydrochloride; Nitromide and Sulfanitran, 65642-65643 2010-27010 Food Food and Nutrition Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Determining Eligibility for Free and Reduced Price Meals, 65607-65608 2010-27061 Foreign Foreign-Trade Zones Board NOTICES Applications for Reorganization under Alternative Site Framework: Foreign-Trade Zone 102 - St. Louis, MO, 65612-65613 2010-27079 Forest Forest Service NOTICES Environmental Impact Statements; Availability, etc.: Flathead National Forest-Swan Lake Ranger District, MT; Wild Cramer Forest Health and Fuels Reduction Project, 65608-65609 2010-26998 Meetings: Nevada and Placer Counties Resource Advisory Committee, 65609 2010-26728 Pike and San Isabel Resource Advisory Committee, 65609 2010-27000 Health Health and Human Services Department See Centers for Disease Control and Prevention See Children and Families Administration See Food and Drug Administration See National Institutes of Health NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65634-65636 2010-26955 2010-26956 Meetings: HIT Standards Committee, 65636 2010-26918 Homeland Homeland Security Department See Coast Guard Housing Housing and Urban Development Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Survey of Market Absorption of New Multifamily Units, 65643-65644 2010-27074 Interior Interior Department See Fish and Wildlife Service See Land Management Bureau See National Park Service IRS Internal Revenue Service RULES Revised Regulations Concerning Section 403(b) Tax-Sheltered Annuity Contracts: Correction, 65566-65567 2010-26979 2010-26980 International International Trade Commission NOTICES Commission Decisions Not to Review Initial Determinations Terminating Investigations: Certain DC-DC controllers and Products Containing Same; Correction, 65651-65652 2010-27024 Complaints, 65652-65653 2010-26977 2010-27045 Investigations: Certain Integrated Chipsets and Products Containing Same Including Televisions, Media Players and Cameras, 65654-65655 2010-27044 Certain Mobile Telephones and Wireless Communications Devices Featuring Digital Cameras, etc., 65654 2010-26976 Terminations Of Investigations: Certain DC-DC Controllers and Products Containing Same, 65655 2010-27043 Certain Notebook Computer Products and Components Thereof, 65656 2010-26978 Justice Justice Department See Antitrust Division See Drug Enforcement Administration Land Land Management Bureau NOTICES Alaska Native Claims Selections: Decision Approving Lands for Conveyance, 65644 2010-27048 2010-27050 Applications for Recordable Disclaimer of Interest: New Mexico, 65644-65645 2010-27047 Calls For Nominations: New Mexico Resource Advisory Council; Reopening, 65645-65646 2010-27029 Proposed Withdrawal Extensions and Opportunities for Public Meetings: Peony, Pole Pick, and Frank Burge Seed Orchards, Washington, 65648-65649 2010-27052 Realty Actions: Segregation to Consider Proposed Sale of Public Lands in Blaine County, ID, 65649-65650 2010-27041 Records of Decisions; Availability, etc.: Calico Solar Project and Associated Amendment, etc., San Bernardino County, CA, 65650 2010-27027 Temporary Closures to Motorized Vehicle Travel on Public Lands: Big Pole Fire Area in Tooele County, UT, 65650-65651 2010-27030 NASA National Aeronautics and Space Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65669-65673 2010-26966 2010-26967 2010-26968 2010-26969 2010-26970 2010-26971 2010-26972 2010-26973 2010-26974 Meetings: Science Committee; Earth Science Subcommittee, 65673 2010-26965 National Commission National Commission on Fiscal Responsibility and Reform NOTICES Meetings: Schedule Change, 65606 2010-27184 NIH National Institutes of Health NOTICES Meetings: Center for Scientific Review, 65638-65639 2010-27039 2010-27040 2010-27049 Council of Councils, Office of Director, National Institutes of Health; Amended, 65642 2010-27051 National Institute of Allergy and Infectious Diseases, 2010-27053 65639-65640 2010-27055 National Institute of Mental Health, 65642 2010-26959 NOAA National Oceanic and Atmospheric Administration RULES Fisheries of Caribbean, Gulf of Mexico, and South Atlantic: Coastal Migratory Pelagic Resources of Gulf of Mexico and South Atlantic; Trip Limit Reduction, 65579-65580 2010-27081 Fisheries of Northeastern United States: Atlantic Surfclam and Ocean Quahog Fisheries; Suspension of Minimum Atlantic Surfclam Size Limit for 2011 Fishing Year, 65580 2010-27076 NOTICES National Estuarine Research Reserve System: North Inlet-Winyah Bay, SC and San Francisco Bay, CA; Revised Management Plans, 65613 2010-27068 National Park National Park Service NOTICES National Register of Historic Places: Pending Nominations and Related Actions, 65647-65648 2010-27057 Pending Removal of Listed Property, 65648 2010-27058 Nuclear Nuclear Regulatory Commission NOTICES Appointments to Performance Review Board for Senior Executive Service, 65673-65674 2010-27033 Meetings; Sunshine Act, 65674 2010-27161 Office of United States Trade Representative See Trade Representative, Office of United States Patent Patent and Trademark Office NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Native American Tribal Insignia Database, 65611-65612 2010-26975 Pipeline Pipeline and Hazardous Materials Safety Administration NOTICES Applications for Modification of Special Permits, 65704 2010-26725 Applications for Special Permit, 65704-65705 2010-26726 Postal Postal Regulatory Commission PROPOSED RULES Periodic Reporting: Temporary Waiver Request, 65593-65594 2010-26835 NOTICES Meetings; Sunshine Act, 65674-65675 2010-27231 New Postal Products, 65675-65677 2010-26957 2010-26982 Periodic Reporting Rules, 65677-65678 2010-26981 Presidential Presidential Documents PROCLAMATIONS Special Observances: United Nations Day (Proc. 8589), 65561-65562 2010-27189 ADMINISTRATIVE ORDERS Congo, Democratic Republic of the; Continuation of National Emergency (Notice of October 22, 2010), 65933-65935 2010-27246 Public Public Debt Bureau See Fiscal Service Railroad Railroad Retirement Board NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 65678-65680 2010-26997 SECURITIES AND EXCHANGE Securities and Exchange Commission PROPOSED RULES Ownership Limitations and Governance Requirements for Security-Based Swap Clearing Agencies, etc., 65882-65932 2010-26315 NOTICES Meetings; Sunshine Act, 65680 2010-27218 Self-Regulatory Organizations; Proposed Rule Changes: Chicago Board Options Exchange, Inc., 65687-65689 2010-27009 International Securities Exchange, LLC, 65680-65683 2010-26993 NASDAQ OMX PHLX LLC, 65685-65687, 65692-65693 2010-27003 2010-27066 NASDAQ Stock Market LLC, 65693-65695 2010-27005 NYSE Amex LLC, 65689-65691 2010-27006 NYSE Arca, Inc., 65683-65685 2010-27007 SMALL Business Administration Small Business Administration NOTICES Disaster Declarations: Minnesota (Amendment 1), 65695 2010-27082 Minnesota (Amendment 2), 65696 2010-27086 North Carolina (Amendment 1), 65695-65696 2010-27090 Ohio, 65696 2010-27087 Social Social Security Administration NOTICES Cost-of-Living Increase and Other Determinations (for 2011), 65696-65700 2010-26983 State State Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: R/PPR Evaluation and Measurement Unit, Evaluation Survey Question Bank, 65700 2010-27070 Textile Agreements Implementation Committee See Committee for the Implementation of Textile Agreements Trade Trade Representative, Office of United States NOTICES Generalized System of Preferences (GSP): 2010 Annual Product Review; Acceptance of Product Petitions, 65700-65702 2010-27093 Transportation Transportation Department See Federal Aviation Administration See Federal Highway Administration See Federal Railroad Administration See Pipeline and Hazardous Materials Safety Administration NOTICES Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Filed Under Subpart B: (Week Ending October 16, 2010), 65703 2010-27038 (Week Ending October 2, 2010), 65703 2010-27022 (Week Ending October 8, 2010), 65702-65703 2010-27034 Aviation Proceedings; Agreements Filed: (Week Ending October 8, 2010), 65703-65704 2010-27020 Treasury Treasury Department See Financial Crimes Enforcement Network See Fiscal Service See Internal Revenue Service RULES Transfer and Reorganization of Bank Secrecy Act Regulations, 65806-65879 2010-25914 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 2010-27083 2010-27084 65708-65710 2010-27085 Separate Parts In This Issue Part II Education Department, 65712-65803 2010-24324 Part III Treasury Department, Financial Crimes Enforcement Network, 65806-65879 2010-25914 Treasury Department, 65806-65879 2010-25914 Part IV Securities and Exchange Commission, 65882-65932 2010-26315 Part V Presidential Documents, 65933-65935 2010-27246 Reader Aids Consult the Reader Aids section at the end of this page for phone numbers, online resources, finding aids, reminders, and notice of recently enacted public laws. To subscribe to the Federal Register Table of Contents LISTSERV electronic mailing list, go to http://listserv.access.gpo.gov and select Online mailing list archives, FEDREGTOC-L, Join or leave the list (or change settings); then follow the instructions. 75 206 Tuesday, October 26, 2010 Rules and Regulations FEDERAL RESERVE SYSTEM 12 CFR Part 204 [Regulation D; Docket No. R-1395] RIN AD71-0057 Reserve Requirements of Depository Institutions AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final rule. SUMMARY: The Board is amending Regulation D, Reserve Requirements of Depository Institutions, to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2011. The Regulation D amendments set the amount of total reservable liabilities of each depository institution that is subject to a zero percent reserve requirement in 2011 at $10.7 million, unchanged from its level in 2010. This amount is known as the reserve requirement exemption amount. The Regulation D amendments also set the amount of net transaction accounts at each depository institution that is subject to a three percent reserve requirement in 2011 at $58.8 million, up from $55.2 million in 2010. This amount is known as the low reserve tranche. The adjustments to both of these amounts are derived using statutory formulas specified in the Federal Reserve Act. The Board is also announcing changes in two other amounts, the nonexempt deposit cutoff level and the reduced reporting limit, that are used to determine the frequency at which depository institutions must submit deposit reports. DATES: *Effective Date:* November 26, 2010. *Compliance Dates:* For depository institutions that report deposit data weekly, the new low reserve tranche and reserve requirement exemption amount will apply to the fourteen-day reserve computation period that begins Tuesday, November 30, 2010, and the corresponding fourteen-day reserve maintenance period that begins Thursday, December 30, 2010. For depository institutions that report deposit data quarterly, the new low reserve tranche and reserve requirement exemption amount will apply to the seven-day reserve computation period that begins Tuesday, December 21, 2010, and the corresponding seven-day reserve maintenance period that begins Thursday, January 20, 2011. For all depository institutions, these new values of the nonexempt deposit cutoff level, the reserve requirement exemption amount, and the reduced reporting limit will be used to determine the frequency at which a depository institution submits deposit reports effective in either June or September 2011. FOR FURTHER INFORMATION CONTACT: Sophia Allison, Senior Counsel (202/452-3565), Legal Division, or Mary-Frances Styczynski, Financial Analyst (202/452-33033), Division of Monetary Affairs; for users of Telecommunications Device for the Deaf
(TDD)only, contact (202/263-4869); Board of Governors of the Federal Reserve System, 20th and C Streets, NW., Washington, DC 20551. SUPPLEMENTARY INFORMATION: Section 19(b)(2) of the Federal Reserve Act (12 U.S.C. 461(b)(2)) requires each depository institution to maintain reserves against its transaction accounts and nonpersonal time deposits, as prescribed by Board regulations, for the purpose of implementing monetary policy. Section 11(a)(2) of the Federal Reserve Act (12 U.S.C. 248(a)(2)) authorizes the Board to require reports of liabilities and assets from depository institutions to enable the Board to conduct monetary policy. The Board's actions with respect to each of these provisions are discussed in turn below. 1. Reserve Requirements Pursuant to section 19(b) of the Federal Reserve Act (Act), transaction account balances maintained at each depository institution are subject to reserve requirement ratios of zero, three, or ten percent. Section 19(b)(11)(A) of the Act (12 U.S.C. 461(b)(11)(A)) provides that a zero percent reserve requirement shall apply at each depository institution to total reservable liabilities that do not exceed a certain amount, known as the reserve requirement exemption amount. Section 19(b)(11)(B) provides that, before December 31 of each year, the Board shall issue a regulation adjusting the reserve requirement exemption amount for the next calendar year if total reservable liabilities held at all depository institutions increase from one year to the next. No adjustment is made to the reserve requirement exemption amount if total reservable liabilities held at all depository institutions should decrease during the applicable time period. The Act requires the percentage increase in the reserve requirement exemption amount to be 80 percent of the increase in total reservable liabilities of all depository institutions over the one-year period that ends on the June 30 prior to the adjustment. Total reservable liabilities of all depository institutions decreased about 1.0 percent (from $4,961 billion to $4,914 billion) between June 30, 2009, and June 30, 2010. Accordingly, the Board is amending Regulation D to set the reserve requirement exemption amount for 2011 at $10.7 million, unchanged from its level in 2010. 1 1 Consistent with Board practice, the low reserve tranche and reserve requirement exemption amounts have been rounded to the nearest $0.1 million. Pursuant to Section 19(b)(2) of the Act (12 U.S.C. 461(b)(2)), transaction account balances maintained at each depository institution over the reserve requirement exemption amount and up to a certain amount, known as the low reserve tranche, are subject to a three percent reserve requirement. Transaction account balances over the low reserve tranche are subject to a ten percent reserve requirement. Section 19(b)(2) also provides that, before December 31 of each year, the Board shall issue a regulation adjusting the low reserve tranche for the next calendar year. The Act requires the adjustment in the low reserve tranche to be 80 percent of the percentage increase or decrease in total transaction accounts of all depository institutions over the one-year period that ends on the June 30 prior to the adjustment. Net transaction accounts of all depository institutions increased 8.0 percent (from $870 billion to $941 billion) between June 30, 2009 and June 30, 2010. Accordingly, the Board is amending Regulation D to increase the low reserve tranche for net transaction accounts by $3.6 million, from $55.2 million for 2010 to $58.8 million for 2011. For depository institutions that file deposit reports weekly, the new low reserve tranche and reserve requirement exemption amount will be effective for the fourteen-day reserve computation period beginning Tuesday, November 30, 2010, and for the corresponding fourteen-day reserve maintenance period beginning Thursday, December 30, 2010. For depository institutions that report quarterly, the new low reserve tranche and reserve requirement exemption amount will be effective for the seven-day reserve computation period beginning Tuesday, December 21, 2010, and for the corresponding seven-day reserve maintenance period beginning Thursday, January 20, 2011. 2. Deposit Reports Section 11(b)(2) of the Federal Reserve Act authorizes the Board to require depository institutions to file reports of their liabilities and assets as the Board may determine to be necessary or desirable to enable it to discharge its responsibility to monitor and control the monetary and credit aggregates. The Board screens depository institutions each year and assigns them to one of four deposit reporting panels (weekly reporters, quarterly reporters, annual reporters, or nonreporters). The panel assignment for annual reporters is effective in June of the screening year; the panel assignment for weekly and quarterly reporters is effective in September of the screening year. In order to ease reporting burden, the Board permits smaller depository institutions to submit deposit reports less frequently than larger depository institutions. The Board permits depository institutions with net transaction accounts above the reserve requirement exemption amount but total transaction accounts, savings deposits, and small time deposits below a specified level (the “nonexempt deposit cutoff”) to report deposit data quarterly. Depository institutions with net transaction accounts above the reserve requirement exemption amount but with total transaction accounts, savings deposits, and small time deposits above the nonexempt deposit cutoff are required to report deposit data weekly. The Board requires certain large depository institutions to report weekly regardless of the level of their net transaction accounts if the depository institution's total transaction accounts, savings deposits, and small time deposits exceeds a specified level (the “reduced reporting limit”). The nonexempt deposit cutoff level and the reduced reporting limit are adjusted annually, by an amount equal to 80 percent of the increase, if any, in total transaction accounts, savings deposits, and small time deposits of all depository institutions over the one-year period that ends on the June 30 prior to the adjustment. From June 30, 2009 to June 30, 2010, total transaction accounts, savings deposits, and small time deposits at all depository institutions increased 5 percent (from $7,128 billion to $7,475 billion). Accordingly, the Board is increasing the nonexempt deposit cutoff level by $9.5 million to $252.6 million for 2011 (up from $243.1 million in 2010). The Board is also increasing the reduced reporting limit by $53 million to $1.415 billion in 2011 (up from $1.362 billion for 2010). 2 2 Consistent with Board practice, the nonexempt deposit cutoff level has been rounded to the nearest $0.1 million, and the reduced reporting limit has been rounded to the nearest $1 million. Beginning in 2011, the boundaries of the four deposit reporting panels will be defined as follows. Those depository institutions with net transaction accounts over $10.7 million (the reserve requirement exemption amount) or with total transaction accounts, savings deposits, and small time deposits greater than or equal to $1.415 billion (the reduced reporting limit) are subject to detailed reporting, and must file a Report of Transaction Accounts, Other Deposits and Vault Cash (FR 2900 report) either weekly or quarterly. Of this group, those with total transaction accounts, savings deposits, and small time deposits greater than or equal to $252.6 million (the nonexempt deposit cutoff level) are required to file the FR 2900 report each week, while those with total transaction accounts, savings deposits, and small time deposits less than $252.6 million are required to file the FR 2900 report each quarter. Those depository institutions with net transaction accounts less than or equal to $10.7 million (the reserve requirement exemption amount) and with total transaction accounts, savings deposits, and small time deposits less than $1.415 billion (the reduced reporting limit) are eligible for reduced reporting, and must either file a deposit report annually or not at all. Of this group, those with total deposits greater than $10.7 million (but with total transaction accounts, savings deposits, and small time deposits less than $1.415 billion) are required to file the Annual Report of Deposits and Reservable Liabilities (FR 2910a) report annually, while those with total deposits less than or equal to $10.7 million are not required to file a deposit report. A depository institution that adjusts reported values on its FR 2910a report in order to qualify for reduced reporting will be shifted to an FR 2900 reporting panel. *Notice and Regulatory Flexibility Act.* The provisions of 5 U.S.C. 553(b) relating to notice of proposed rulemaking have not been followed in connection with the adoption of these amendments. The amendments involve expected, ministerial adjustments prescribed by statute and by the Board's policy concerning reporting practices. The adjustments in the reserve requirement exemption amount, the low reserve tranche, the nonexempt deposit cutoff level, and the reduced reporting limit serve to reduce regulatory burdens on depository institutions. Accordingly, the Board finds good cause for determining, and so determines, that notice in accordance with 5 U.S.C. 553(b) is unnecessary. Consequently, the provisions of the Regulatory Flexibility Act, 5 U.S.C. 601, do not apply to these amendments. List of Subjects in 12 CFR Part 204 Banks, banking, Reporting and recordkeeping requirements. For the reasons set forth in the preamble, the Board is amending 12 CFR part 204 as follows: PART 204—RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D) 1. The authority citation for part 204 continues to read as follows: Authority: 12 U.S.C. 248(a), 248(c), 371a, 461, 601, 611, and 3105. 2. Section 204.4(f) is revised to read as follows: § 204.4 Computation of required reserves.
(f)For all depository institutions, Edge and Agreement corporations, and United States branches and agencies of foreign banks, required reserves are computed by applying the reserve requirement ratios below to net transaction accounts, nonpersonal time deposits, and Eurocurrency liabilities of the institution during the computation period. Reservable liability Reserve requirement NET TRANSACTION ACCOUNTS: $0 to reserve requirement exemption amount ($10.7 million) 0 percent of amount. Over reserve requirement exemption amount ($10.7 million) and up to low reserve tranche ($58.8 million) 3 percent of amount. Over low reserve tranche ($58.8 million) $1,443,000 plus 10 percent of amount over $58.8 million. Nonpersonal time deposits 0 percent. Eurocurrency liabilities 0 percent. By order of the Board of Governors of the Federal Reserve System, acting through the Director of the Division of Monetary Affairs under delegated authority, October 21, 2010. Jennifer J. Johnson, Secretary of the Board. [FR Doc. 2010-27014 Filed 10-25-10; 8:45 am]
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