43760 Federal Register / Vol. 62, No. 158 / Friday, August 15, 1997 / Notices

Chairman’s ruling on requests for the

opportunity to present oral statements

and the time allotted therefor, can be

obtained by contacting Mr. Sam

Duraiswamy, Chief, Nuclear Reactors

Branch (telephone 301/415–7364),

between 7:30 a.m. and 4:15 p.m. EDT.

ACRS meeting notices, meeting

transcripts, and letter reports are now

available on FedWorld from the ‘‘NRC

MAIN MENU.’’ The Direct Dial Access

number to FedWorld is (800) 303–9672

or ftp.fedworld. These documents and

the meeting agenda are also available for

downloading or reviewing on the

internet at http://www.nrc.gov/

ACRSACNW.

Dated: August 11, 1997.

John C. Hoyle,

Acting Advisory Committee Management

Officer.

[FR Doc. 97–21681 Filed 8–14–97; 8:45 am]

BILLING CODE 7590–01–P

NUCLEAR REGULATORY

COMMISSION

[Docket Nos. 50–508 and 50–509]

Washington Nuclear Units 3 and 5

Closing of Local Public Document

Room

Notice is hereby given that the

Nuclear Regulatory Commission (NRC)

is closing the local public document

room (LPDR) for records pertaining to

the Washington Public Power Supply

System’s Washington Nuclear Units 3

and 5 (WPPSS) located at the W.H. Abel

Memorial Library, Montesano,

Washington, effective August 15, 1997.

The W.H. Abel Memorial Library has

served as the LPDR for WPPSS Units 3

and 5 for 23 years. In a letter dated May

28, 1997, the community librarian

officially informed the NRC that they no

longer wish to serve as the LPDR. NRC

has made the decision to officially close

the WPPSS Units 3 and 5 LPDR because

none of the libraries in the vicinity of

the Satsop, Washington site are

interested in maintaining the document

collection, no facility was ever

constructed on the site, and there has

been no demonstrated local public

interest in the LPDR materials for a

number of years. Therefore, effective

August 15, 1997, the LPDR will be

closed.

Persons now interested in information

pertaining to this facility or any other

NRC activity may contact the NRC

Public Document Room by calling tollfree 1–800–397–4209 or writing to NRC

Public Document Room, Washington,

DC 20555–0001.

Dated at Rockville, Maryland, this 11th day

of August, 1997.

For the Nuclear Regulatory Commission.

Russell A. Powell,

Chief, Freedom of Information/Local Public

Document Room Branch, Office of

Information Resources Management.

[FR Doc. 97–21679 Filed 8–14–97; 8:45 am]

BILLING CODE 7590–01–P

PENSION BENEFIT GUARANTY

CORPORATION

Interest Assumption for Determining

Variable-Rate Premium; Interest

Assumptions for Multiemployer Plan

Valuations Following Mass Withdrawal

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Notice of interest rates and

assumptions.

SUMMARY: This notice informs the public

of the interest rates and assumptions to

be used under certain Pension Benefit

Guaranty Corporation regulations. These

rates and assumptions are published

elsewhere (or are derivable from rates

published elsewhere), but are collected

and published in this notice for the

convenience of the public. Interest rates

are also published on the PBGC’s home

page (http://www.pbgc.gov).

DATES: The interest rate for determining

the variable-rate premium under part

4006 applies to premium payment years

beginning in August 1997. The interest

assumptions for performing

multiemployer plan valuations

following mass withdrawal under part

4281 apply to valuation dates occurring

in September 1997.

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 (202–326–4179

for TTY and TDD).

SUPPLEMENTARY INFORMATION:

Variable-Rate Premiums

Section 4006(a)(3)(E)(iii)(II) of the

Employee Retirement Income Security

Act of 1974 (ERISA) and § 4006.4(b)(1)

of the PBGC’s regulation on Premium

Rates (29 CFR part 4006) prescribe use

of an assumed interest rate in

determining a single-employer plan’s

variable-rate premium. The rate is the

‘‘applicable percentage’’ (described in

the statute and the regulation) of the

annual yield on 30-year Treasury

securities for the month preceding the

beginning of the plan year for which

premiums are being paid (the ‘‘premium

payment year’’). The yield figure is

reported in Federal Reserve Statistical

Releases G.13 and H.15.

For plan years beginning before July

1, 1997, the applicable percentage of the

30-year Treasury yield was 80 percent.

The Retirement Protection Act of 1994

(RPA) amended ERISA section

4006(a)(3)(E)(iii)(II) to provide that the

applicable percentage is 85 percent for

plan years beginning on or after July 1,

1997, through (at least) plan years

beginning before January 1, 2000.

However, under section 774(c) of the

RPA, the application of the amendment

is deferred for certain regulated public

utility (RPU) plans for as long as six

months. The applicable percentage for

RPU plans will therefore remain 80

percent for plan years beginning before

January 1, 1998. (The rules governing

the applicable percentages for ‘‘partial’’

RPU plans are described in § 4006.5(g)

of the premium rates regulation.)

For plans for which the applicable

percentage is 85 percent, the assumed

interest rate to be used in determining

variable-rate premiums for premium

payment years beginning in August

1997 is 5.53 percent (i.e., 85 percent of

the 6.51 percent yield figure for July

1997).

The following table lists the assumed

interest rates to be used in determining

variable-rate premiums for premium

payment years beginning between

September 1996 and August 1997. The

rates for July and August 1997 in the

table reflect an applicable percentage of

85 percent and thus apply only to nonRPU plans. However, the rates for

months before July 1997, which reflect

an applicable percentage of 80 percent,

apply to RPU (and ‘‘partial’’ RPU) plans

as well as to non-RPU plans.

For premium payment years beginning in

The assumed interest

rate is

September 1996 ........................... 5.47

October 1996 ................................ 5.62

November 1996 ............................ 5.45

December 1996 ............................ 5.18

January 1997 ................................ 5.24

February 1997 .............................. 5.46

March 1997 ................................... 5.35

April 1997 ...................................... 5.54

May 1997 ...................................... 5.67

June 1997 ..................................... 5.55

July 1997 ...................................... 5.75

August 1997 .................................. 5.53
Federal Register / Vol. 62, No. 158 / Friday, August 15, 1997 / Notices 43761

1Energy was authorized to hold directly one

share in CSWM to comply with a requirement of

Mexican law that CSWM have a minimum of two

shareholders. CSWM was authorized to hold all

shares of CSWM Servicios except for one share to

be held by CSWI.

2The 1994 Order had also authorized CSWI,

CSWM and the Project Parents to issue securities

to third parties without recourse to CSW in

connection with the Permitted Activities in

amounts not to exceed $600 million in the

aggregate. The 1995 Order raised this limit to $3

billion.

For premium payment years

beginning in August 1997, the assumed

interest rate to be used in determining

variable-rate premiums for RPU plans

(determined using an applicable

percentage of 80 percent) is 5.21

percent. For ‘‘partial’’ RPU plans, the

assumed interest rates to be used in

determining variable-rate premiums can

be computed by applying the rules in

§ 4006.5(g) of the premium rates

regulation. The PBGC’s premium

payment instruction booklet also

describes these rules and provides a

worksheet for computing the assumed

rate.

Multiemployer Plan Valuations

Following Mass Withdrawal

The PBGC’s regulation on Duties of

Plan Sponsor Following Mass

Withdrawal (29 CFR part 4281)

prescribes the use of interest

assumptions under the PBGC’s

regulation on Allocation of Assets in

Single-employer Plans (29 CFR part

4044). The interest assumptions

applicable to valuation dates in

September 1997 under part 4044 are

contained in an amendment to part 4044

published elsewhere in today’s Federal

Register. Tables showing the

assumptions applicable to prior periods

are codified in appendix B to 29 CFR

part 4044.

Issued in Washington, D.C., on this 8th day

of August 1997.

David M. Strauss,

Executive Director, Pension Benefit Guaranty

Corporation.

[FR Doc. 97–21598 Filed 8–14–97; 8:45 am]

BILLING CODE 7708–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–26753]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

August 8, 1997.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated thereunder. All interested

persons are referred to the application(s)

and/or declaration(s) for complete

statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendments thereto is/are available

for public inspection through the

Commission’s Office of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

September 2, 1997, to the Secretary,

Securities and Exchange Commission,

Washington, DC 20549, and serve a

copy on the relevant applicant(s) and/or

declarant(s) at the address(es) specified

below. Proof of service (by affidavit or,

in case of an attorney at law, by

certificate) should be filed with the

request. Any request for hearing shall

identify specifically the issues of fact or

law that are disputed. A person who so

requests will be notified of any hearing,

if ordered, and will receive a copy of

any notice or order issued in the matter.

After said date, the application(s)

and/or declaration(s), as filed or as

amended, may be granted and/or

permitted to become effective.

Central and South West Corporation, et

al. (70–8423)

Central and South West Corporation

(‘‘CSW’’), a registered holding company,

CSW International, Inc. (‘‘CSWI’’), and

CSW Energy, Inc. (‘‘Energy’’), both

wholly owned nonutility subsidiary

companies of CSW, all at 1616 Woodall

Rodgers Freeway, Dallas, Texas 75202,

have filed a post-effective amendment

under sections 6(a), 7, 9(a), 10, 12(b),

and 13(b) of the Act and rules 43, 45,

54, 83, 86, 87, 90 and 91 under the Act

to their application-declaration

previously filed under sections 6(a), 7,

9(a), 10, 12(b), 13(b), 32 and 33 of the

Act and rules 43, 45, 54, 83, 86, 87, 90

and 91 under the Act.

By order dated November 3, 1994

(HCAR No. 26156) (‘‘1994 Order’’), CSW

was authorized, through December 31,

1997, to (a) organize and invest in CSW

de Mexico, S.A. de C.V. (‘‘CSWM’’), and

CSW de Mexico Servicios (‘‘CSWM

Servicios’’); 1 (b) invest either directly or

indirectly, through CSWI, CSWM or

other special purpose subsidiaries

(‘‘Project Parents’’), in exempt wholesale

generators (‘‘EWGs’’) and foreign utility

companies (‘‘FUCOs’’ and, together with

EWGs’’, ‘‘Exempt Facilities’’); (c)

provide directly or indirectly, through

CSWI and/or CSWM, certain operational

and management services to Exempt

Facilities and to foreign electric utility

enterprises (‘‘Service Activities’’ and

together with the businesses of the

Exempt Facilities, ‘‘Permitted

Activities’’); (d) guarantee, or provide

other forms of credit support for, the

securities or contractual obligations of

CSWI, CSWM and the Project Parents

issued or incurred in connection with

the Permitted Activities; and (e) fund

such investments from time to time

through issuances by CSW, CSWI,

CSWM, CSWM Servicios and/or the

Project Parents of stock, partnership

interests, promissory notes, commercial

paper or other debt or equity securities.

The 1994 Order limited the amounts

of investment by CSW in subsidiaries

engaged in the Permitted Activities and

of guaranties or other forms of credit

support issued or arranged by CSW on

behalf of such subsidiaries (collectively,

‘‘Aggregate General Authority’’) to $400

million. By order dated September 27,

1995 (HCAR No. 26383) (‘‘1995 Order’’),

CSW was authorized to increase its

authority to make investments under the

Aggregate General Authority up to an

amount not to exceed 50% of its

‘‘consolidated retained earnings,’’ as

determined in accordance with rule

53(a)(1).2 By order dated January 24,

1997 (HCAR No. 26653) (together with

the 1994 Order and the 1995 Order,

‘‘Orders’’), the Commission authorized

CSW to increase its investments in

Exempt Facilities in amounts which,

when aggregated with the guaranties of

the obligations of such entities, would

not exceed 100% of CSW’s

‘‘consolidated retained earnings,’’ as

determined in accordance with rule

53(a)(1).

CSW now seeks an extension, through

December 31, 2002, of the authority

granted in the Orders to (a) invest

directly or indirectly in Exempt

Facilities, (b) guarantee or provide other

forms of credit support for subsidiaries

engaged in the ownership and/or

operation of Exempt Facilities, (c) fund

such investments and/or guaranties

through the issuance of securities to

third parties, and (d) engage directly or

indirectly in Service Activities. In

addition, CSWI and Energy seek an

extension through December 31, 2002 of

authority granted in the 1994 Order and

the 1995 Order for CSWI, CSWM,

CSWM Servicios and/or the Project

Parents to issue equity securities to

third parties in connection with the

Permitted Activities.

Energy and CSWI also request

authority, through December 31, 2002,

to (a) acquire the securities of

companies (‘‘Intermediate

Subsidiaries’’) that would have direct or

indirect ownership interests in

companies engaged in Service Activities