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Federal Register / Vol. 70, No.

187 / Wednesday, September 28, 2005 / Rules and Regulations 56563

The proposed rule concerning this § 920.213 Assessment rate. Banks, thereby increasing from 4.50
action was published in the Federal On and after August 1, 2005, an percent to 4.75 percent the rate that
Register on August 16, 2005 (70 FR assessment rate of $0.045 per 9-kilo each Reserve Bank charges for
48082). Copies of the rule were mailed volume-fill container or equivalent of extensions of primary credit. As a result
or sent via facsimile to all Committee kiwifruit is established for kiwifruit of the Board’s action on the primary
members and kiwifruit handlers. grown in California. credit rate, the rate that each Reserve
Finally, the rule was made available Dated: September 22, 2005.
Bank charges for extensions of
through the Internet by USDA and the secondary credit automatically
Lloyd C. Day,
Office of the Federal Register. A 20-day increased from 5.00 percent to 5.25
comment period ending September 6, Administrator, Agricultural Marketing percent under the secondary credit rate
2005, was provided to allow interested formula. The final amendments to
persons to respond to the proposal. No [FR Doc. 05–19309 Filed 9–27–05; 8:45 am] Regulation A reflect these rate changes.
comments were received. BILLING CODE 3410–02–P
The 25-basis-point increase in the
A small business guide on complying primary credit rate was associated with
with fruit, vegetable, and specialty crop a similar increase in the target for the
marketing agreements and orders may FEDERAL RESERVE SYSTEM federal funds rate (from 3.50 percent to
be viewed at: http://www.ams.usda.gov/ 3.75 percent) approved by the Federal
12 CFR Part 201
fv/moab.html. Any questions about the Open Market Committee (Committee)
compliance guide should be sent to Jay [Regulation A] and announced at the same time. A
Guerber at the previously mentioned press release announcing these actions
address in the FOR FURTHER INFORMATION Extensions of Credit by Federal indicated that:
CONTACT section. Reserve Banks
Output appeared poised to continue
After consideration of all relevant AGENCY: Board of Governors of the growing at a good pace before the tragic toll
matter presented, including the Federal Reserve System. of Hurricane Katrina. The widespread
information and recommendation devastation in the Gulf region, the associated
ACTION: Final rule.
submitted by the Committee and other dislocation of economic activity, and the
available information, it is hereby found SUMMARY: The Board of Governors of the boost to energy prices imply that spending,
that this rule, as hereinafter set forth, production, and employment will be set back
Federal Reserve System (Board) has
will tend to effectuate the declared in the near term. In addition to elevating
adopted final amendments to its premiums for some energy products, the
policy of the Act. Regulation A to reflect the Board’s disruption to the production and refining
It is further found that good cause approval of an increase in the primary infrastructure may add to energy price
exists for not postponing the effective credit rate at each Federal Reserve Bank. volatility.
date of this rule until 30 days after The secondary credit rate at each While these unfortunate developments
publication in the Federal Register (5 Reserve Bank automatically increased have increased uncertainty about near-term
U.S.C. 553) because: (1) The 2005–06 by formula as a result of the Board’s economic performance, it is the Committee’s
fiscal period began on August 1, 2005, primary credit rate action. view that they do not pose a more persistent
and the marketing order requires that threat. Rather, monetary policy
DATES: The amendments to part 201
the rate of assessment for each fiscal accommodation, coupled with robust
(Regulation A) are effective September underlying growth in productivity, is
period apply to all assessable kiwifruit 28, 2005. The rate changes for primary
handled during such fiscal period; (2) providing ongoing support to economic
and secondary credit were effective on activity. Higher energy and other costs have
the Committee needs to have sufficient the dates specified in 12 CFR 201.51, as the potential to add to inflation pressures.
funds to pay its expenses which are amended. However, core inflation has been relatively
incurred on a continuous basis and; (3) low in recent months and longer-term
handlers are aware of this action which inflation expectations remain contained.
Jennifer J. Johnson, Secretary of the
was unanimously recommended by the The Committee perceives that, with
Board ((202) 452–3259); for users of
Committee at a public meeting and is appropriate monetary policy action, the
Telecommunication Devices for the Deaf
similar to other assessment rate actions upside and downside risks to the attainment
(TDD) only, contact (202) 263–4869. of both sustainable growth and price stability
issued in past years. In addition, a 20-
day comment period was provided for SUPPLEMENTARY INFORMATION: The should be kept roughly equal. With
in the proposed rule. Federal Reserve Banks make primary underlying inflation expected to be
and secondary credit available to contained, the Committee believes that
List of Subjects in 7 CFR Part 920 depository institutions as a backup policy accommodation can be removed at a
source of funding on a short-term basis, pace that is likely to be measured.
Kiwifruit, Marketing agreements, Nonetheless, the Committee will respond to
Reporting and record keeping usually overnight. The primary and
changes in economic prospects as needed to
requirements. secondary credit rates are the interest
fulfill its obligation to maintain price
rates that the twelve Federal Reserve stability.
■ For the reasons set forth in the Banks charge for extensions of credit
preamble, 7 CFR part 920 is amended as under these programs. In accordance Regulatory Flexibility Act Certification
follows: with the Federal Reserve Act, the
primary and secondary credit rates are Pursuant to the Regulatory Flexibility
PART 920—KIWIFRUIT GROWN IN established by the boards of directors of Act (5 U.S.C. 605(b)), the Board certifies
CALIFORNIA the Federal Reserve Banks, subject to that the new primary and secondary
■ 1. The authority citation for 7 CFR the review and determination of the credit rates will not have a significantly
part 920 continues to read as follows: Board. adverse economic impact on a
The Board approved requests by the substantial number of small entities
Authority: 7 U.S.C. 601–674. Reserve Banks to increase by 25 basis because the final rule does not impose
■ 2. Section 920.213 is revised to read points the primary credit rate in effect any additional requirements on entities
as follows: at each of the twelve Federal Reserve affected by the regulation.

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56564 Federal Register / Vol. 70, No. 187 / Wednesday, September 28, 2005 / Rules and Regulations

Administrative Procedure Act Federal Re- DATES: The effective date of these
Rate Effective
The Board did not follow the serve Bank special conditions is September 13,
provisions of 5 U.S.C. 553(b) relating to 2005. Comments must be received on or
Boston ............ 5.25 September 20, 2005. before October 28, 2005.
notice and public participation in New York ....... 5.25 September 20, 2005.
connection with the adoption of these Philadelphia ... 5.25 September 20, 2005. ADDRESSES: Comments may be mailed
amendments because the Board for good Cleveland ....... 5.25 September 22, 2005. in duplicate to: Federal Aviation
cause determined that delaying Richmond ....... 5.25 September 20, 2005. Administration, Regional Counsel,
implementation of the new primary and Atlanta ............ 5.25 September 22, 2005. ACE–7, Attention: Rules Docket Clerk,
secondary credit rates in order to allow Chicago .......... 5.25 September 20, 2005. Docket No. CE231, Room 506, 901
notice and public comment would be St. Louis ......... 5.25 September 21, 2005. Locust, Kansas City, Missouri 64106. All
Minneapolis .... 5.25 September 20, 2005. comments must be marked: Docket No.
unnecessary and contrary to the public Kansas City ... 5.25 September 20, 2005.
interest in fostering price stability and Dallas ............. 5.25 September 22, 2005. CE231. Comments may be inspected in
sustainable economic growth. For these San Francisco 5.25 September 20, 2005. the Rules Docket weekdays, except
same reasons, the Board also has not Federal holidays, between 7:30 a.m. and
provided 30 days prior notice of the * * * * * 4 p.m.
effective date of the rule under section By order of the Board of Governors of the FOR FURTHER INFORMATION CONTACT: Wes
553(d). Federal Reserve System, September 22, 2005. Ryan, Aerospace Engineer, Standards
Office (ACE–110), Small Airplane
List of Subjects in 12 CFR Part 201 Jennifer J. Johnson,
Directorate, Aircraft Certification
Banks, Banking, Federal Reserve Secretary of the Board.
Service, Federal Aviation
System, Reporting and recordkeeping. [FR Doc. 05–19395 Filed 9–27–05; 8:45 am]
Administration, 901 Locust, Room 301,
Authority and Issuance Kansas City, Missouri 64106; telephone
(816) 32-4127.
■ For the reasons set forth in the SUPPLEMENTARY INFORMATION: The FAA
preamble, the Board is amending 12 DEPARTMENT OF TRANSPORTATION has determined that notice and
CFR chapter II as follows: opportunity for prior public comment
Federal Aviation Administration
PART 201—EXTENSIONS OF CREDIT hereon are impracticable because these
BY FEDERAL RESERVE BANKS 14 CFR Part 23 procedures would significantly delay
(REGULATION A) issuance of the design approval and
[Docket No. CE231, Special Condition 23– thus delivery of the affected aircraft. In
■ 1. The authority citation for part 201 171–SC] addition, the substance of these special
continues to read as follows: conditions has been subject to the
Special Conditions; Premier Avionics
Authority: 12 U.S.C. 248(i)–(j), 343 et seq., public comment process in several prior
Design Ltd., EFIS on the Cessna 441;
347a, 347b, 347c, 348 et seq., 357, 374, 374a, instances with no substantive comments
Protection of Systems for High
and 461. received. The FAA, therefore, finds that
Intensity Radiated Fields (HIRF)
■ 2. In § 201.51, paragraphs (a) and (b) good cause exists for making these
are revised to read as follows: AGENCY: Federal Aviation special conditions effective upon
Administration (FAA), DOT. issuance.
§ 201.51 Interest rates applicable to credit
ACTION: Final special conditions; request Comments Invited
extended by a Federal Reserve Bank.1
for comments.
(a) Primary credit. The interest rates Interested persons are invited to
for primary credit provided to SUMMARY: These special conditions are submit such written data, views, or
depository institutions under § 201.4(a) issued to Premier Avionics Design Ltd., arguments, as they may desire.
are: 12002 Warfield, Suite 250, San Antonio, Communications should identify the
TX 78216, for a Supplemental Type regulatory docket or notice number and
Federal Re- Certificate for the Cessna 441 Conquest. be submitted in duplicate to the address
Rate Effective
serve Bank
This airplane will have novel and specified above. All communications
Boston ............ 4.75 September 20, 2005. unusual design features when compared received on or before the closing date
New York ....... 4.75 September 20, 2005. to the state of technology envisaged in for comments will be considered by the
Philadelphia ... 4.75 September 20, 2005. the applicable airworthiness standards. Administrator. The special conditions
Cleveland ....... 4.75 September 22, 2005. These novel and unusual design may be changed in light of the
Richmond ....... 4.75 September 20, 2005. features include the installation of an comments received. All comments
Atlanta ............ 4.75 September 22, 2005. electronic flight instrument system received will be available in the Rules
Chicago .......... 4.75 September 20, 2005.
(EFIS) in the form of two digital Docket for examination by interested
St. Louis ......... 4.75 September 21, 2005.
Minneapolis .... 4.75 September 20, 2005. altimeters. The digital altimeters will be persons, both before and after the
Kansas City ... 4.75 September 20, 2005. Thommen Model AD32E, one on the closing date for comments. A report
Dallas ............. 4.75 September 22, 2005. pilot side and one on the copilot side, summarizing each substantive public
San Francisco 4.75 September 20, 2005. for which the applicable regulations do contact with FAA personnel concerning
not contain adequate or appropriate this rulemaking will be filed in the
(b) Secondary credit. The interest airworthiness standards for the docket. Commenters wishing the FAA to
rates for secondary credit provided to protection of these systems from the acknowledge receipt of their comments
depository institutions under 201.4(b) effects of high intensity radiated fields submitted in response to this notice
are: (HIRF). These special conditions must include a self-addressed, stamped
contain the additional safety standards postcard on which the following
1 The primary, secondary, and seasonal credit
that the Administrator considers statement is made: ‘‘Comments to
rates described in this section apply to both
advances and discounts made under the primary,
necessary to establish a level of safety Docket No. CE231.’’ The postcard will
secondary, and seasonal credit programs, equivalent to the airworthiness be date stamped and returned to the
respectively. standards applicable to these airplanes. commenter.

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