Federal Register / Vol. 71, No. 165 / Friday, August 25, 2006 / Notices 50477 

the public health and safety, and is 

consistent with the common defense 

and security. Also, special 

circumstances are present. Therefore, 

the Commission hereby grants OPPD an 

exemption from the requirements of 10 

CFR 50.46 and 10 CFR Part 50, 

Appendix K, for the Fort Calhoun 

Station, Unit 1. 

Pursuant to 10 CFR 51.32, the 

Commission has determined that the 

granting of this exemption will not have 

a significant impact on the quality of the 

human environment (71 FR 46927; 

published on August 15, 2006). This 

exemption is effective upon issuance. 

Dated at Rockville, Maryland, this 17th day 

of August 2006. 

For the Nuclear Regulatory Commission. 

Catherine Haney, 

Director, Division of Operating Reactor 

Licensing, Office of Nuclear Reactor 

Regulation. 

[FR Doc. E6–14106 Filed 8–24–06; 8:45 am] 

BILLING CODE 7590–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

Required Interest Rate Assumption for 

Determining Variable-Rate Premium for 

Premium Payment Years Beginning in 

January Through August 2006 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Notice of interest rate 

assumptions. 

SUMMARY: This notice informs the public 

of the interest rate assumptions to be 

used for determining the variable-rate 

premium under part 4006 of the Pension 

Benefit Guaranty Corporation 

regulations (the ‘‘required interest rate’’) 

for premium payment years beginning 

in January through August 2006. It 

reflects changes made by the Pension 

Protection Act of 2006, which was 

signed into law on August 17, 2006. 

These interest rate assumptions can 

be derived 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 Web 

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

DATES: The required interest rate 

assumption for determining the 

variable-rate premium under part 4006 

applies to premium payment years 

beginning in January through August 

2006. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion, Manager, Regulatory 

and Policy Division, Legislative and 

Regulatory Department, Pension Benefit 

Guaranty Corporation, 1200 K Street, 

NW., Washington, DC 20005, 202–326–

4024. (TTY/TDD users may call the 

Federal relay service toll-free at 1–800–

877–8339 and ask to be connected to 

202–326–4024.) 

SUPPLEMENTARY INFORMATION: Each 

month PBGC publishes a notice in the 

Federal Register informing the public of 

the interest rates and assumptions to be 

used under certain PBGC regulations. 

One such rate is the required interest 

rate used pursuant to 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) in determining a 

single-employer plan’s variable-rate 

premium. 

The Pension Funding and Equity Act 

of 2004 (‘‘PFEA’’) set the required 

interest rate for plan years beginning in 

2004 or 2005 as the ‘‘applicable 

percentage’’ (currently 85 percent) of the 

annual rate of interest determined by 

the Secretary of the Treasury on 

amounts invested conservatively in long 

term investment grade corporate bonds 

(the ‘‘composite corporate bond rate’’) 

for the month preceding the beginning 

of the plan year for which premiums are 

being paid (the ‘‘premium payment 

year’’). 

The Pension Protection Act of 2006 

(‘‘PPA’’), which was signed into law on 

August 17, 2006, extended the 

applicability of the PFEA required 

interest rate to plan years beginning in 

2006 and 2007. Before PPA was signed 

into law, the required interest rate for 

plan years beginning in 2006 was 85 

percent of the annual yield on 30-year 

Treasury securities. Accordingly, this 

was the required interest rate published 

each month by the PBGC for premium 

payment years beginning in January 

though August of 2006. This notice 

revises those published rates to reflect 

changes made by PPA. 

On August 18, 2006, the Internal 

Revenue Service issued Notice 2006–75, 

announcing the composite corporate 

bond rates needed to determine the 

required interest rates for premium 

payment years beginning in January 

through August 2006. 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in January 2006 is 4.86 percent (i.e., 85 

percent of the 5.72 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for December 2005). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in February 2006 is 4.80 percent (i.e., 85 

percent of the 5.65 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for January 2006). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in March 2006 is 4.87 percent (i.e., 85 

percent of the 5.73 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for February 2006). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in April 2006 is 5.01 percent (i.e., 85 

percent of the 5.89 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for March 2006). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in May 2006 is 5.25 percent (i.e., 85 

percent of the 6.18 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for April 2006). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in June 2006 is 5.35 percent (i.e., 85 

percent of the 6.29 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for May 2006). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in July 2006 is 5.36 percent (i.e., 85 

percent of the 6.31 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for June 2006). 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in August 2006 is 5.36 percent (i.e., 85 

percent of the 6.30 percent composite 

corporate bond rate announced in IRS 

Notice 2006–75 for July 2006). 

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning in January 

through August 2006. 

For premium payment years 

beginning in . . . 

The required 

interest rate 

is . . . 

January 2006 ........................ 4.86 

February 2006 ...................... 4.80 

March 2006 ........................... 4.87 

April 2006 ............................. 5.01 

May 2006 .............................. 5.25 

June 2006 ............................. 5.35 

July 2006 .............................. 5.36 

August 2006 ......................... 5.36 

PBGC will post the revised required 

interest rates (listed above) on its Web 

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


cprice-sewell on PROD1PC66 with NOTICES
50478 Federal Register / Vol. 71, No. 165 / Friday, August 25, 2006 / Notices 

1 44 U.S.C. 3501 et seq. 

2Pub. L. 106–102, 113 Stat. 1338 (1999). 

3See 15 U.S.C. 78q(i). 

4See Exchange Act Release No. 49831 (Jun. 8, 

2004), 69 FR 34472 (Jun. 21, 2004). 

5See—H.R. Conf. Rep. No. 106–434, 165 (1999). 

See also—Exchange Act Release No. 49831, at 6 

(Jun. 8, 2004), 69 FR 34472, at 34473 (Jun. 21, 

2004). 

6 15 U.S.C. 78q(i)(3)(A). 

7 17 CFR 240.17i–5(b)(3). 

8 (8 hours × 12 months in a year) = 96 hours/year. 

9 (16 hours × 4 quarters in a year) = 64 hours/year. 

Issued in Washington, DC, on this 23rd day 

of August 2006. 

Vincent K. Snowbarger, 

Interim Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E6–14210 Filed 8–24–06; 8:45 am] 

BILLING CODE 7709–01–P 

OFFICE OF PERSONNEL 

MANAGEMENT 

[Optional Form 306, OMB No. 3206–0182] 

Submission for OMB Review; 

Comment Request for Clearance of a 

Reinstatement, With Change, of a 

Previously Approved Collection for 

Which Approval Has Expired; 

Declaration for Federal Employment 

AGENCY: Office of Personnel 

Management. 

ACTION: Notice. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995 (Pub. 

L. 104–13, May 22, 1995), this notice 

announces that the Office of Personnel 

Management (OPM) has submitted a 

request to the Office of Management and 

Budget (OMB) for reinstatement of an 

expired information collection with 

change. The Optional Form (OF) 306, 

Declaration for Federal Employment, is 

completed by applicants who are under 

consideration for Federal or Federal 

contract employment. 

The OF 306 requests that the 

applicant provide personal identifying 

data, including, for example, general 

background information, information on 

Selective Service registration, military 

service and information concerning 

retirement pay received or requested. 

The change is to make needed 

administrative updates and delete life 

insurance questions. 

It is estimated that 474,000 

individuals will respond annually. Each 

form takes approximately 15 minutes to 

complete. The annual estimated burden 

is 118,500 hours. 

No comments were received on this 

proposal. 

For copies of this proposal, contact 

Mary Beth Smith-Toomey on (202) 606–

8358, FAX (202) 418–3251 or via E-mail 

to mbtoomey@opm.gov. Please include a 

mailing address with your request. 

DATES: Comments on this proposal 

should be received within 30 calendar 

days for the date of this publication. 

ADDRESSES: Send or deliver comments 

to: Kathy Dillaman, Associate Director, 

Federal Investigative Services Division, 

U.S. Office of Personnel Management, 

1900 E Street, NW., Room 5416, 

Washington, DC 20415, and Rachel 

Potter/Brenda Aguilar, OPM Desk 

Officer, Office of Information and 

Regulatory Affairs, Office of 

Management Budget, New Executive 

Office Building, Room 10035, 

Washington, DC 20503. 

For Information Regarding 

Administrative Coordination—Contact: 

Deborah A. Micsky, Operational 

Policy Group, Federal Investigative 

Services Division, U.S. Office of 

Personnel Management, 1900 E Street, 

NW., Room 5416, Washington, DC 

20415. 

Office of Personnel Management. 

Dan G. Blair, 

Deputy Director. 

[FR Doc. E6–14098 Filed 8–24–06; 8:45 am] 

BILLING CODE 6325–53–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon written request, copies available 

from: Securities and Exchange 

Commission, Office of Filings and 

Information Services, Washington, DC 

20549. 

Extension: 

Rule 17i–6, SEC File No. 270–532, OMB 

Control No. 3235–0588. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 

1995 1 the Securities and Exchange 

Commission (‘‘Commission’’) intends to 

submit to the Office of Management and 

Budget a request for extension of the 

previously approved collections of 

information discussed below. The Code 

of Federal Regulation citation to this 

collection of information is the 

following rule: 17 CFR 240.17i–6. 

Section 231 of the Gramm-LeachBliley Act of 1999 2 (the ‘‘GLBA’’) 

amended Section 17 of the Securities 

Exchange Act of 1934 to create a 

regulatory framework under which a 

holding company of a broker-dealer 

(‘‘investment bank holding company’’ or 

‘‘IBHC’’) may voluntarily be supervised 

by the Commission as a supervised 

investment bank holding company (or 

‘‘SIBHC’’).3 In 2004, the Commission 

promulgated rules, including Rule 17i–

6, to create a framework for the 

Commission to supervise SIBHCs.4 This 

framework includes qualification 

criteria for SIBHCs, as well as 

recordkeeping and reporting 

requirements. Among other things, this 

regulatory framework for SIBHCs is 

intended to provide a basis for non-U.S. 

financial regulators to treat the 

Commission as the principal U.S. 

consolidated, home-country supervisor 

for SIBHCs and their affiliated brokerdealers.5

Pursuant to Section 17(i)(3)(A) of the 

Exchange Act, an SIBHC must make and 

keep records, furnish copies thereof, 

and make such reports as the 

Commission may require by rule.6 Rule 

17i–6 requires that an SIBHC file with 

the Commission certain monthly and 

quarterly reports and an annual audit 

report. The reports and notices required 

to be filed pursuant to Rule 17i–6 must 

be preserved for a period of not less 

than three years.7

The collections of information 

required by Rule 17i–6 are necessary to 

allow the Commission adequately to 

supervise the activities of these SIBHCs 

and to effectively determine whether 

supervision of an IBHC as an SIBHC is 

necessary or appropriate in furtherance 

of the purposes of section 17 of the Act. 

Rule 17i–6s also enhances the 

Commission’s supervision of an 

SIBHCs’ subsidiary broker-dealers 

through collection of additional 

information and inspections of affiliates 

of those broker-dealers. Without these 

reports, the Commission would be 

unable to adequately supervise an 

SIBHC, nor would it be able to 

determine whether continued 

supervision of an IBHC as an SIBHC 

were necessary and appropriate in 

furtherance of the purposes of section 

17 of the Act. 

We estimate that three IBHCs will file 

Notices of Intention with the 

Commission to be supervised by the 

Commission as SIBHCs. An SIBHC will 

require about eight hours each month to 

prepare and file the monthly reports 

required by this rule (or approximately 

96 hours per year).8 On average, it will 

take an SIBHC about 16 hours each 

quarter (or 64 hours each year) 9 to 

prepare and file the quarterly reports 

required by this rule. An SIBHC will 

require about 200 hours to prepare and 

file the annual audit reports required by 

this rule. Consequently, the total annual 


cprice-sewell on PROD1PC66 with NOTICES