53880 Federal Register / Vol. 68, No. 178 / Monday, September 15, 2003 / Rules and Regulations 

1 In the event the Application for Compensation 

relates to Further Guaranteed Payments, such 

Application must also contain a statement of the 

nature and circumstances of the related loss.

§ 230.09 No Acceleration of Eligible Notes. 

Eligible Notes shall not be subject to 

acceleration, in whole or in part, by 

USAID, the Noteholder or any other 

party. USAID shall not have the right to 

pay any amounts in respect of the 

Eligible Notes other than in accordance 

with the original payment terms of such 

Eligible Notes.

§ 230.10 Payment to USAID of Excess 

Amounts Received by a Noteholder. 

If a Noteholder shall, as a result of 

USAID paying compensation under this 

Guarantee, receive an excess payment, it 

shall refund the excess to USAID.

§ 230.11 Subrogation of USAID. 

In the event of payment by USAID to 

a Noteholder under this Guarantee, 

USAID shall be subrogated to the extent 

of such payment to all of the rights of 

such Noteholder against the Borrower 

under the related Note.

§ 230.12 Prosecution of Claims. 

After payment by USAID to an 

Applicant hereunder, USAID shall have 

exclusive power to prosecute all claims 

related to rights to receive payments 

under the Eligible Notes to which it is 

thereby subrogated. If a Noteholder 

continues to have an interest in the 

outstanding Eligible Notes, such a 

Noteholder and USAID shall consult 

with each other with respect to their 

respective interests in such Eligible 

Notes and the manner of and 

responsibility for prosecuting claims.

§ 230.13 Change in Agreements. 

No Noteholder will consent to any 

change or waiver of any provision of 

any document contemplated by this 

Guarantee without the prior written 

consent of USAID.

§ 230.14 Arbitration. 

Any controversy or claim between 

USAID and any noteholder arising out 

of this Guarantee shall be settled by 

arbitration to be held in Washington, DC 

in accordance with the then prevailing 

rules of the American Arbitration 

Association, and judgment on the award 

rendered by the arbitrators may be 

entered in any court of competent 

jurisdiction.

§ 230.15 Notice. 

Any communication to USAID 

pursuant to this Guarantee shall be in 

writing in the English language, shall 

refer to the Israel Loan Guarantee 

Number inscribed on the Eligible Note 

and shall be complete on the day it shall 

be actually received by USAID at the 

Office of Development Credit, Bureau 

for Economic Growth, Agriculture and 

Trade, United States Agency for 

International Development, Washington, 

DC 20523–0030. Other addresses may be 

substituted for the above upon the 

giving of notice of such substitution to 

each Noteholder by first class mail at 

the address set forth in the Note 

Register.

§ 230.16 Governing Law. 

This Guarantee shall be governed by 

and construed in accordance with the 

laws of the United States of America 

governing contracts and commercial 

transactions of the United States 

Government.

Appendix A to Part 230—Application 

for Compensation 

United States Agency for International 

Development 

Washington, DC 20523 

Ref: Guarantee dated as of _____, 19 _: 

Gentlemen: 

You are hereby advised that payment of 

$_____ (consisting of $_____ of principal, 

$_____ of interest and $_____ in Further 

Guaranteed Payments, as defined in 

§ 230.02(f) of the Standard Terms and 

Conditions of the above-mentioned 

Guarantee) was due on _____, 20_, on $_____

principal amount of Notes held by the 

undersigned of the Government of Israel, on 

behalf of the State of Israel (the ‘‘Borrower’’). 

Of such amount $_____ was not received on 

such date and has not been received by the 

undersigned at the date hereof. In accordance 

with the terms and provisions of the abovementioned Guarantee, the undersigned 

hereby applies, under § 230.08 of said 

Guarantee, for payment of $__________, 

representing $__________, the Principal 

Amount of the presently outstanding Note(s) 

of the Borrower held by the undersigned that 

was due and payable on _____ and that 

remains unpaid, and $_____, the Interest 

Amount on such Note(s) that was due and 

payable by the Borrower on_____ and that 

remains unpaid, and $_____ in Further 

Guaranteed Payments,1 plus accrued and 

unpaid interest thereon from the date of 

default with respect to such payments to and 

including the date payment in full is made 

by you pursuant to said Guarantee, at the rate 

of ___% per annum, being the rate for such 

interest accrual specified in such Note. Such 

payment is to be made at [state payment 

instructions of Noteholder].

All capitalized terms herein that are not 

otherwise defined shall have the meanings 

assigned to such terms in the Standard Terms 

and Conditions of the above-mentioned 

Guarantee.

[Name of Applicant]

By: lllllllllllllllllll

Name: 

Title: 

Dated:

Dated: September 11, 2003. 

Christopher F.D. Ryder, 

Acting Assistant General Counsel.

[FR Doc. 03–23570 Filed 9–12–03; 8:45 am] 

BILLING CODE 6116–01–P

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Parts 4022 and 4044 

Benefits Payable in Terminated SingleEmployer Plans; Allocation of Assets 

in Single-Employer Plans; Interest 

Assumptions for Valuing and Paying 

Benefits

AGENCY: Pension Benefit Guaranty 

Corporation.

ACTION: Final rule.

SUMMARY: The Pension Benefit Guaranty 

Corporation’s regulations on Benefits 

Payable in Terminated Single-Employer 

Plans and Allocation of Assets in 

Single-Employer Plans prescribe interest 

assumptions for valuing and paying 

benefits under terminating singleemployer plans. This final rule amends 

the regulations to adopt interest 

assumptions for plans with valuation 

dates in October 2003. Interest 

assumptions are also published on the 

PBGC’s Web site (http://www.pbgc.gov).

EFFECTIVE DATE: October 1, 2003.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General 

Counsel, Office of the General Counsel, 

Pension Benefit Guaranty Corporation, 

1200 K Street, NW., Washington, DC 

20005, 202–326–4024. (TTY/TDD users 

may call the Federal relay service tollfree at 1–800–877–8339 and ask to be 

connected to 202–326–4024.)

SUPPLEMENTARY INFORMATION: The 

PBGC’s regulations prescribe actuarial 

assumptions—including interest 

assumptions—for valuing and paying 

plan benefits of terminating singleemployer plans covered by title IV of 

the Employee Retirement Income 

Security Act of 1974. The interest 

assumptions are intended to reflect 

current conditions in the financial and 

annuity markets. 

Three sets of interest assumptions are 

prescribed: (1) A set for the valuation of 

benefits for allocation purposes under 

section 4044 (found in appendix B to 

part 4044), (2) a set for the PBGC to use 

to determine whether a benefit is 

payable as a lump sum and to determine 

lump-sum amounts to be paid by the 

PBGC (found in appendix B to part 

4022), and (3) a set for private-sector 

pension practitioners to refer to if they 

wish to use lump-sum interest rates

Federal Register / Vol. 68, No. 178 / Monday, September 15, 2003 / Rules and Regulations 53881

determined using the PBGC’s historical 

methodology (found in appendix C to 

part 4022). 

Accordingly, this amendment (1) adds 

to appendix B to part 4044 the interest 

assumptions for valuing benefits for 

allocation purposes in plans with 

valuation dates during October 2003, (2) 

adds to appendix B to part 4022 the 

interest assumptions for the PBGC to 

use for its own lump-sum payments in 

plans with valuation dates during 

October 2003, and (3) adds to appendix 

C to part 4022 the interest assumptions 

for private-sector pension practitioners 

to refer to if they wish to use lump-sum 

interest rates determined using the 

PBGC’s historical methodology for 

valuation dates during October 2003. 

For valuation of benefits for allocation 

purposes, the interest assumptions that 

the PBGC will use (set forth in appendix 

B to part 4044) will be 4.90 percent for 

the first 20 years following the valuation 

date and 5.25 percent thereafter. These 

interest assumptions are unchanged 

from those in effect for September 2003. 

The interest assumptions that the 

PBGC will use for its own lump-sum 

payments (set forth in appendix B to 

part 4022) will be 3.50 percent for the 

period during which a benefit is in pay 

status and 4.00 percent during any years 

preceding the benefit’s placement in pay 

status. These interest assumptions are 

unchanged from those in effect for 

September 2003. 

For private-sector payments, the 

interest assumptions (set forth in 

appendix C to part 4022) will be the 

same as those used by the PBGC for 

determining and paying lump sums (set 

forth in appendix B to part 4022). 

The PBGC has determined that notice 

and public comment on this amendment 

are impracticable and contrary to the 

public interest. This finding is based on 

the need to determine and issue new 

interest assumptions promptly so that 

the assumptions can reflect, as 

accurately as possible, current market 

conditions. 

Because of the need to provide 

immediate guidance for the valuation 

and payment of benefits in plans with 

valuation dates during October 2003, 

the PBGC finds that good cause exists 

for making the assumptions set forth in 

this amendment effective less than 30 

days after publication. 

The PBGC has determined that this 

action is not a ‘‘significant regulatory 

action’’ under the criteria set forth in 

Executive Order 12866. 

Because no general notice of proposed 

rulemaking is required for this 

amendment, the Regulatory Flexibility 

Act of 1980 does not apply. See 5 U.S.C. 

601(2).

List of Subjects 

29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

29 CFR Part 4044 

Employee benefit plans, Pension 

insurance, Pensions.

■ In consideration of the foregoing, 29 

CFR parts 4022 and 4044 are amended as 

follows:

PART 4022—BENEFITS PAYABLE IN 

TERMINATED SINGLE-EMPLOYER 

PLANS

■ 1. The authority citation for part 4022 

continues to read as follows:

Authority: 29 U.S.C. 1302, 1322, 1322b, 

1341(c)(3)(D), and 1344.

■ 2. In appendix B to part 4022, Rate Set 

120, as set forth below, is added to the 

table. (The introductory text of the table 

is omitted.) 

Appendix B to Part 4022—Lump Sum 

Interest Rates for PBGC Payments

* * * * *

Rate set 

For plans with a valuation date Immediate annuity rate 

(percent) 

Deferred annuities (percent) 

On or 

after Before i1 i2 i3 n1 n2

* * * * * * * 

120 .................................................................... 10–1–03 11–1–03 3.50 4.00 4.00 4.00 7 8 

■ 3. In appendix C to part 4022, Rate Set 

120, as set forth below, is added to the 

table. (The introductory text of the table 

is omitted.) 

Appendix C to Part 4022—Lump Sum 

Interest Rates For Private-Sector 

Payments

* * * * *

Rate set 

For plans with a valuation date Immediate annuity rate 

(percent) 

Deferred annuities (percent) 

On or 

after Before i1 i2 i3 n1 n2

* * * * * * * 

120 .................................................................... 10–1–03 11–1–03 3.50 4.00 4.00 4.00 7 8 

PART 4044—ALLOCATION OF 

ASSETS IN SINGLE-EMPLOYER 

PLANS

■ 4. The authority citation for part 4044 

continues to read as follows:

Authority: 29 U.S.C. 1301(a), 1302(b)(3), 

1341, 1344, 1362.

■ 5. In appendix B to part 4044, a new 

entry, as set forth below, is added to the 

table. (The introductory text of the table 

is omitted.) 

Appendix B to Part 4044—Interest 

Rates Used to Value Benefits

* * * * *

53882 Federal Register / Vol. 68, No. 178 / Monday, September 15, 2003 / Rules and Regulations 

For valuation dates occurring in the month—

The values of it are: 

it for t= it for t= it for t= 

* * * * * * * 

October 2003 ............................................................................................ .0490 1–20 .0525 >20 N/A N/A 

Issued in Washington, DC, on this 8th day 

of September, 2003. 

Joseph H. Grant, 

Deputy Executive Director and Chief 

Operating Officer, Pension Benefit Guaranty 

Corporation.

[FR Doc. 03–23365 Filed 9–12–03; 8:45 am] 

BILLING CODE 7708–01–P

NATIONAL ARCHIVES AND RECORDS 

ADMINISTRATION 

36 CFR Part 1280 

RIN 3095–AB17 

NARA Facilities; Public Use

AGENCY: National Archives and Records 

Administration (NARA).

ACTION: Final rule.

SUMMARY: NARA is modifying its 

regulations for using NARA facilities. 

Our existing regulations specify conduct 

rules on NARA property, which is 

defined as property under the control of 

the Archivist. We are adding threats as 

a prohibited behavior because of the risk 

to persons and property potentially 

posed by threats, and because of the 

increased number of email and 

telephone threats received in NARA 

facilities. We are also specifying the 

types of corrective action NARA 

imposes for prohibited behavior. This 

final rule specifies the formal 

procedures that we follow when 

banning individuals from our facilities 

and adds appeal procedures for 

individuals who want to request a 

reconsideration of the determination. 

Last, we are applying these changes to 

NARA property and to NARA-occupied 

space in facilities that are under the 

control of other agencies.

EFFECTIVE DATE: October 15, 2003.

FOR FURTHER INFORMATION CONTACT: Kim 

Richardson at telephone number 301–

837–2902.

SUPPLEMENTARY INFORMATION: The 

proposed rule was published in the 

April 18, 2003, Federal Register (67 FR 

19168) for a 60-day comment period. 

NARA did not receive any comments. 

This rule is a significant regulatory 

action for the purposes of Executive 

Order 12866 and has been reviewed by 

the Office of Management and Budget. 

This rule is not a major rule as defined 

in 5 U.S.C. Chapter 8, Congressional 

Review of Agency Rulemaking. As 

required by the Regulatory Flexibility 

Act, I certify that this rule will not have 

a significant impact on a substantial 

number of small entities. This 

regulation does not have any federalism 

implications.

List of Subjects in 36 CFR Part 1280 

Federal buildings and facilities.

■ For the reasons set forth in the 

preamble, NARA amends part 1280 of 

title 36, Code of Federal Regulations, 

chapter XII, as follows:

PART 1280—PUBLIC USE OF NARA 

FACILITIES

■ 1. The authority citation for part 1280 

is revised to read as follows:

Authority: 44 U.S.C. 2102 notes, 2104(a), 

2112(a)(1)(A)(iii), 2903

■ 2. Amend § 1280.1 by revising 

paragraphs (b) and (c) and adding 

paragraph (d) as follows:

§ 1280.1 What is the purpose of this part?

* * * * *

(b) When you are using other NARA 

facilities, the General Services 

Administration (GSA) regulations, 

Conduct on Federal Property, at 41 CFR 

part 102–74, Subpart C, apply to you. 

These facilities are the NARA regional 

records services facilities, the 

Washington National Records Center in 

Suitland, MD, the National Personnel 

Records Center in St. Louis, MO, and 

the Office of the Federal Register in 

Washington, DC. The rules in 

§§ 1280.32(l), 1280.34 (a)(1) and (a)(2), 

and 1280.36 also apply to you. The rules 

in Subpart B of this part also apply to 

you if you wish to film, take 

photographs, or make videotapes. The 

rules in Subpart F of this part also apply 

to you if you wish to use the NARAassigned conference rooms in those 

facilities. 

(c) If you are using records in a NARA 

research room in a NARA facility, you 

must also follow the rules in 36 CFR 

part 1254. If you violate a rule or 

regulation in 36 CFR part 1254, you are 

subject to the types of corrective action 

set forth in that part, including 

revocation of research privileges. 

(d) If you violate a rule or regulation 

in this part you are subject to, among 

other types of corrective action, removal 

and banning from the facility.

■ 3. Amend § 1280.32 by adding 

paragraph (l) to read as follows:

§ 1280.32 What other behavior is not 

permitted?

* * * * *

(l) Threatening directly (e.g., inperson communications or physical 

gestures) or indirectly (e.g., via regular 

mail, electronic mail, or phone) any 

NARA employee, visitor, volunteer, 

contractor, other building occupants, or 

property.

■ 4. Add § 1280.34 and § 1280.36 to 

subpart A to read as follows:

§ 1280.34 What are the types of corrective 

action NARA imposes for prohibited 

behavior? 

(a) Individuals who violate the 

provisions of this part are subject to: 

(1) Removal from the premises 

(removal for up to seven calendar days) 

and possible law enforcement 

notification; 

(2) Banning from property owned or 

operated by NARA; 

(3) Arrest for trespass; and 

(4) Any additional types of corrective 

action prescribed by law. 

(b) The regional administrator of the 

facility (or the director if so designated) 

has the authority to have the individual 

immediately removed and denied 

further access to the premises for up to 

seven calendar days. During this 

removal period, the Assistant Archivist 

for Administrative Services renders a 

decision on whether the individual 

should be banned from specific or all 

NARA facilities permanently or 

temporarily (in up to one-year 

increments). Long-term banning under 

this part includes automatic revocation 

of research privileges, notwithstanding 

the time periods set forth in 36 CFR 

1254.20. Research privileges remain 

revoked until the ban is lifted, at which 

time an application for new privileges 

may be submitted. 

(c) Upon written notification by the 

Assistant Archivist for Administrative 

Services, individuals may be banned 

from all NARA facilities. All NARA 

facilities will be notified of the banning 

of individuals.