Federal Register / Vol. 76, No. 56 / Wednesday, March 23, 2011 / Proposed Rules 16345 

interest (or such security entitlement) 

after the earlier of: 

(1) The end of the 90-day period 

beginning on the date of the filing of a 

request for expedited relief; or 

(2) The date on which the Corporation 

denies the claim or a portion thereof. 

(e) Statute of limitations. If an action 

described in paragraph (d) of this 

section is not filed, or the motion to 

renew a previously filed suit is not 

made, before the end of the 30-day 

period beginning on the date on which 

such action or motion may be filed in 

accordance with paragraph (d) of this 

section, the claim shall be deemed to be 

disallowed as of the end of such period 

(other than any portion of such claim 

which was allowed by the receiver), 

such disallowance shall be final, and 

the claimant shall have no further rights 

or remedies with respect to such claim. 

§ 380.54 Sale of collateral by receiver. 

(a) The Corporation as receiver may 

sell property of the covered financial 

company that is subject to a security 

interest. In such a case, the purchaser of 

such property shall take free and clear 

of the security interest, and the security 

interest shall attach to the proceeds of 

the sale. Such proceeds, up to the 

allowed amount of the secured claim, 

shall be remitted to the claimant within 

a reasonable time after the sale. 

(b) If the receiver sells property 

subject to a security interest under 

subsection (a) of this section, a holder 

of such security interest may purchase 

the property from the receiver, and may 

offset its claim against the purchase 

price of such property. 

(c) This section shall not apply with 

respect to any property that is subject to 

a security interest described in 12 U.S.C. 

5390(a)(3)(D)(iii)(II). 

§ 380.55 Redemption from security 

interest. 

The Corporation as receiver may pay 

the secured creditor the fair market 

value of the property subject to a 

security interest up to the amount of the 

allowed secured claim in full and retain 

such property free and clear of such 

security interest. 

By order of the Board of Directors. 

Dated at Washington, DC, this 15th day of 

March 2011. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2011–6705 Filed 3–22–11; 8:45 am] 

BILLING CODE P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

12 CFR Parts 700, 701, 702, and 741 

RIN 3133–AD87 

Net Worth and Equity Ratio 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Proposed rule. 

SUMMARY: On January 4, 2011, President 

Obama signed Senate Bill 4036 into law, 

which, among other things, amends the 

statutory definitions of ‘‘net worth’’ and 

‘‘equity ratio’’ in the Federal Credit 

Union Act. NCUA proposes to make 

conforming amendments to the 

definition of ‘‘net worth’’ as it appears in 

NCUA’s Prompt Corrective Action 

regulation and the definition of ‘‘equity 

ratio’’ as it appears in NCUA’s 

Requirements for Insurance regulation. 

NCUA also proposes to make technical 

changes in other regulations to ensure 

clarity and consistency in the use of the 

term ‘‘net worth,’’ as it is applied to 

federally-insured credit unions. 

DATES: Comments must be received on 

or before May 23, 2011. 

ADDRESSES: You may submit comments 

by any of the following methods (Please 

send comments by one method only): 

• NCUA Web Site: http:// 

www.ncua.gov/news/proposed_regs/ 

proposed_regs.html. Follow the 

instructions for submitting comments. 

• E-mail: Address to 

regcomments@ncua.gov. Include ‘‘[Your 

name] Comments on Notice of Proposed 

Rulemaking (Net Worth and Equity 

Ratio)’’ in the e-mail subject line. 

• Fax: (703) 518–6319. Use the 

subject line described above for e-mail. 

• Mail: Address to Mary Rupp, 

Secretary of the Board, National Credit 

Union Administration, 1775 Duke 

Street, Alexandria, Virginia 22314– 

3428. 

• Hand Delivery/Courier: Same as 

mail address. 

FOR FURTHER INFORMATION CONTACT: 

Justin M. Anderson, Staff Attorney, 

Office of General Counsel, at the above 

address or telephone (703) 518–6540. 

SUPPLEMENTARY INFORMATION: 

A. Background 

On January 4, 2011, President Obama 

signed Senate Bill 4036 (the Bill) into 

law. S. 4036, 111th Cong., Public Law 

111–382 (2011). The Bill amends the 

Federal Credit Union Act (the Act) to 

clarify NCUA’s authority to make 

stabilization fund expenditures without 

borrowing from the Treasury, amends 

the definitions of ‘‘equity ratio’’ and ‘‘net 

worth,’’ and requires the Comptroller 

General of the United States to conduct 

a study on NCUA’s handling of the 

recent corporate credit union crisis. The 

Bill is divided into four sections, each 

of which is discussed briefly below. The 

amendments in this proposed rule 

implement the changes made to the Act 

by sections two and three of the Bill. 

1. Section One—Stabilization Fund 

This section amends the Temporary 

Corporate Credit Union Stabilization 

Fund (TCCUSF) provisions of the Act in 

12 U.S.C. 1795e. Specifically, the 

amendments add a new provision 

authorizing NCUA to make premium 

assessments of federally-insured credit 

unions to pay pending or future 

TCCUSF expenses directly, in addition 

to the existing authority to make 

assessments to repay Treasury advances. 

Public Law 111–382. Exercise of this 

direct assessment authority requires the 

NCUA Board ‘‘take into consideration 

any potential impact on credit union 

earnings such an assessment may have’’ 

and requires the premium be paid not 

later than 60 days following the 

assessment. The amendments also make 

clear that, during the period of time in 

which the Treasury agrees to extend the 

life of the TCCUSF, the NCUA can 

obtain additional advances from the 

Treasury. Id. NCUA does not have 

regulations on the TCCUSF, so no 

changes to NCUA regulations are 

necessary. 

2. Section Two—Equity Ratio 

Section two of the Bill amends 

§ 202(h)(2) of the Act (12 U.S.C. 

1782(h)(2)) by redefining the equity 

ratio for the National Credit Union 

Share Insurance Fund (NCUSIF or 

Fund). Under the amended definition, 

the equity ratio will be calculated ‘‘using 

the financial statements of the Fund 

alone, without any consolidation or 

combination with the financial 

statements of any other fund or entity.’’ 

Public Law 111–382. The term ‘‘equity 

ratio’’ is defined in § 741.4(b) of NCUA’s 

regulations and is used in several places 

throughout that section. As discussed 

more fully below, the Board, is 

proposing to amend the definition of 

‘‘equity ratio’’ in NCUA’s regulations to 

mirror the recent statutory change. 

Section Three—Net Worth Definition 

Section three of the Bill amends 

section 216(o)(2) of the Act (12 U.S.C. 

1790(o)(2)) by redefining the term ‘‘net 

worth’’ as it applies to federally insured 

credit unions for purposes of prompt 

corrective action (PCA). The amended 

definition retains all of the existing 

elements of net worth and includes the 


jlentini on DSKJ8SOYB1PROD with PROPOSALS
16346 Federal Register / Vol. 76, No. 56 / Wednesday, March 23, 2011 / Proposed Rules 

1For combinations of mutual institutions in 

which no consideration is transferred, a bargain 

purchase occurs when the fair value of the net 

assets acquired exceeds the fair value of the equity 

or member interest in the acquirer. Generally 

accepted accounting principles require this excess 

to be recognized immediately as a gain in earnings, 

which increases retained earnings and qualifies as 

regulatory capital. See Accounting Standards 

Codification (ASC) Paragraphs 805–30–55–3 

through 55–5, Special Considerations in Applying 

the Acquisition Method to Combinations of Mutual 

Entities. 

following new component: ‘‘[A]t the 

Board’s discretion and subject to rules 

and regulations established by the 

Board, assistance provided under § 208 

to facilitate a least-cost resolution 

consistent with the best interests of the 

credit union system.’’ Public Law 111– 

382. As discussed more fully below, the 

Board proposes to amend the definition 

of ‘‘net worth’’ in NCUA’s regulations for 

PCA purposes (§ 702.2(f)) to reflect and 

implement this statutory change. 

Section Four—Study of the National 

Credit Union Administration 

Section four of the Bill requires the 

Comptroller General of the United 

States to conduct a study of NCUA’s 

supervision of corporate credit unions 

and implementation of PCA. The 

purpose of the study is to determine the 

reasons for the failure of any corporate 

credit union since 2008, evaluate the 

adequacy of NCUA’s response to the 

failures of corporate credit unions, 

evaluate the effectiveness of the 

implementation of PCA by NCUA, and 

examine whether NCUA has effectively 

implemented each of the 

recommendations of its Inspector 

General in its Material Loss Review 

Report. The Bill requires the 

Comptroller to submit the report, within 

one year from the date of enactment of 

the Bill, to the Financial Stability 

Oversight Council (the Council). Within 

six months after the date of receipt of 

the report from the Comptroller General, 

the Council must submit a report to the 

Committee on Banking, Housing, and 

Urban Affairs of the Senate and the 

Committee on Financial Services of the 

House of Representatives on actions 

taken in response to the report, 

including any recommendations issued 

to the National Credit Union 

Administration under section 120 of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act (12 U.S.C. 

5330). 

B. Proposed Changes 

As noted above, the Bill amends the 

definition of ‘‘equity ratio’’ and the PCA 

definition of ‘‘net worth.’’ The Board is 

proposing to make amendments to 

NCUA’s regulations to implement the 

recent statutory changes. 

1. Equity Ratio 

The Board is proposing to amend the 

definition of ‘‘equity ratio’’ set forth in 

§ 741.4(b) to clarify that the equity ratio 

will be calculated using the financial 

statements of the NCUSIF alone, 

without any consolidation or 

combination with the financial 

statements of any other fund or entity. 

The Board notes that this amendment 

reflects a statutory change to section 202 

of the Act, 12 U.S.C. 1782, and, as such, 

the Board must make this change to 

§ 741.4, which implements section 202 

of the Act. 

2. Net Worth 

The Board is also proposing to amend 

NCUA’s regulations to reflect the recent 

statutory change to the definition of ‘‘net 

worth’’ for purposes of PCA. As already 

noted, the definition of ‘‘net worth’’ for 

purposes of PCA is found in § 702.2(f) 

of NCUA’s regulations, 12 CFR 702.2(f). 

The Bill provides that the Board, in its 

discretion, may include any assistance 

provided under section 208 of the Act 

(12 U.S.C. 1788) in the computation of 

a federally insured credit union’s net 

worth for PCA purposes. Public Law 

111–382, § 3. The Bill also provides that 

the inclusion of § 208 assistance in the 

computation of net worth is subject to 

any rules or regulations established by 

the Board. Id. 

Section 208 of the Act allows the 

Board, in its discretion, to make loans 

to, or purchase the assets of, or establish 

accounts in insured credit unions the 

Board has determined are in danger of 

closing or in order to assist in the 

voluntary liquidation of a solvent credit 

union. 12 U.S.C. 1788(a)(1). Except in 

the case of a voluntary liquidation, the 

Board is permitted to provide assistance 

under § 208 only when it is necessary to 

protect the Fund or the interests of the 

members of the credit union. Id. In 

addition to § 208 assistance provided for 

liquidity purposes, the NCUA may place 

funds containing the elements of capital 

in a credit union. 12 U.S.C. 1788(a)(2). 

Capital accounts would include 

subordinated notes and capital 

instruments. These accounts, including 

interest accrued and paid, would be 

available to cover losses realized by the 

credit union exceeding available 

retained earnings and should be 

included in the calculation of regulatory 

capital to the extent the accounts meet 

the qualifications discussed below. 

In this rule the Board proposes to 

limit the inclusion of § 208 assistance in 

the computation of a credit union’s net 

worth to those types of assistance 

containing minimum elements of 

equity. The Board proposes to further 

limit the accounts that will qualify as 

regulatory capital to accounts that: Have 

a remaining maturity of five years or 

more; are not insured by the NCUSIF; 

may not be pledged as security on a loan 

to, or other obligation of, any party; 

have non-cumulative dividends; and are 

subordinate to the NCUSIF, 

shareholders, and creditors. 

Although the Board is currently 

proposing rules with respect to § 208 

assistance as permitted under the Bill, 

the Board may propose additional rules 

in the future, as it is necessary to protect 

the Fund or ensure the efficient 

application of PCA. 

a. Technical Changes 

This proposed rule also includes a 

technical correction to the definition of 

net worth in § 702.2(f)(3) to address 

situations where an acquiring credit 

union benefits twice from a 

combination. NCUA’s current rules 

require the addition of the retained 

earnings of the acquired credit union to 

the net worth of the acquiring credit 

union. In the circumstance of a 

combination that results in a bargain 

purchase gain,1 the current rule’s 

requirements can result in a double 

counting of net worth for the purposes 

of PCA. This proposed correction seeks 

to prevent this situation by requiring the 

subtraction of any bargain purchase gain 

from the target’s retained earnings 

before the latter amount is included as 

net worth. This proposed correction 

limits the difference between the added 

retained earnings and bargain purchase 

gain to an amount that is zero or more, 

which will prevent a retained earnings 

deficit from flowing forward to the 

acquiring institution. The proposed 

revision to this section also adds the 

requirement that the retained earnings 

of the acquired credit union at the point 

of acquisition must be measured under 

generally accepted accounting 

principles as referenced in the Act. 12 

U.S.C.1790d(o)(2)(A). 

The Board is also making technical 

changes to other sections of NCUA’s 

regulations that reference or use the 

term ‘‘net worth’’ in the PCA context. 

These changes will ensure clarity and 

continuity in NCUA’s definition of ‘‘net 

worth.’’ 

Section 701.21(h) of the regulations 

addresses third party servicing of 

indirect vehicle loans and, in part, 

limits the aggregate amount of vehicle 

loans serviced by a third-party servicer 

that a federally-insured credit union can 

acquire, as a percentage of the credit 

union’s net worth. The § 701.21(h)(4)(iv) 

definition of ‘‘net worth’’ is different 

than that used in part 702 but is based 


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Federal Register / Vol. 76, No. 56 / Wednesday, March 23, 2011 / Proposed Rules 16347 

on the same statutory provision of the 

Act. Currently § 701.21(h)(4)(iv) defines 

‘‘net worth’’ as: 

The retained earnings balance of the credit 

union at quarter end as determined under 

generally accepted accounting principles. For 

low income-designated credit unions, net 

worth also includes secondary capital 

accounts that are uninsured and subordinate 

to all other claims, including claims of 

creditors, shareholders, and the National 

Credit Union Share Insurance Fund. 

12 CFR 701.21(h)(4)(iv). While this 

definition is similar to that used in 

§ 702.2(f), it does not contain all of the 

elements used in that definition and 

would not reflect the change made by 

this proposed rule. For consistency and 

clarity, the Board proposes to amend 

§ 701.21(h)(4)(iv) to indicate that the 

term ‘‘net worth’’ has the same meaning 

as it is defined in § 702.2. The proposed 

change would replace the current 

definition in § 701.21(h)(4)(iv) with a 

statement that the term ‘‘net worth’’ 

means the retained earnings balance of 

a credit union at quarter end as 

determined under generally accepted 

accounting principles and as further 

defined in § 702.2(f). This cross 

reference is similar to others used in 

NCUA’s regulations. Although the 

Board is deleting language regarding the 

computation of net worth for lowincome credit unions, this provision, 

which is already found in § 702.2(f), 

will be incorporated by reference under 

this proposed change. 

With respect to sections of the 

regulations outside of part 702 that use 

the term ‘‘net worth’’ in the PCA context, 

the Board will continue to use cross 

references to the § 702.2(f) definition of 

‘‘net worth.’’ Such cross references are 

found in §§ 703.2, 742.2, and 747.2003 

of NCUA’s regulations. Finally, the 

Board notes that § 701.34(c) and (d) and 

its accompanying appendix and 

§ 701.21(c)(7)(iii) of NCUA’s regulations 

use the term ‘‘net worth’’ but do not 

currently contain a cross reference or an 

alternative definition of ‘‘net worth.’’ To 

conform these and any future uses of the 

term ‘‘net worth,’’ the Board is proposing 

to include a statement in the general 

definitions of the regulations (part 700) 

to clarify that, unless otherwise noted, 

the term ‘‘net worth’’ as applied to an 

insured credit union has the same 

definition as that set forth in § 702.2(f). 

The Board believes this ‘‘catch all’’ 

statement will eliminate confusion and 

ensure the correct definition is applied 

in varying circumstances. 

b. Net Worth in the Member Business 

Loan Context 

Consistent with the statutory 

amendment, this proposed rule amends 

the definition of ‘‘net worth’’ only when 

that term is used in the PCA context. 

NCUA’s member business loan 

regulation contains a definition of ‘‘net 

worth’’ that differs from the definition 

used in part 702. See 12 CFR 723.21 

This definition is based on the statutory 

definition included in limitations of 

member business loans set forth in 

section 107A of the Act, 12 U.S.C. 

1757a(c)(2). The Bill, which provided 

the authority for the changes proposed 

in this rule, did not address the 

definition of ‘‘net worth’’ as it applies in 

the context of member business loans. 

As such, the Board is not amending the 

definition of ‘‘net worth’’ in the member 

business loan rule. 

Regulatory Procedures 

Regulatory Flexibility Act 

The Regulatory Flexibility Act 

requires NCUA to prepare an analysis to 

describe any significant economic 

impact a proposed rule may have on a 

substantial number of small credit 

unions (those under $10 million in 

assets). This proposed rule modifies the 

definition of ‘‘net worth’’ and ‘‘equity 

ratio,’’ it will not have a significant 

economic impact on a substantial 

number of small credit unions and a 

regulatory flexibility analysis is not 

required. 

Paperwork Reduction Act 

NCUA has determined that the 

proposed amendments will not increase 

paperwork requirements and a 

paperwork reduction analysis is not 

required. 

Executive Order 13132 

Executive Order 13132 encourages 

independent regulatory agencies to 

consider the impact of their actions on 

state and local interests. In adherence to 

fundamental federalism principles, 

NCUA, an independent regulatory 

agency as defined in 44 U.S.C. 3502(5), 

voluntarily complies with the executive 

order. The proposed rule would not 

have substantial direct effects on the 

states, on the connection between the 

national government and the states, or 

on the distribution of power and 

responsibilities among the various 

levels of government. NCUA has 

determined that this proposed rule does 

not constitute a policy that has 

federalism implications for purposes of 

the executive order. 

The Treasury and General Government 

Appropriations Act, 1999—Assessment 

of Federal Regulations and Policies on 

Families 

NCUA has determined that this 

proposed rule would not affect family 

well-being within the meaning of 

section 654 of the Treasury and General 

Government Appropriations Act, 1999, 

Public Law 105–277, 112 Stat. 2681 

(1998). 

List of Subjects in 12 CFR Parts 700, 

701, 702, and 741 

Bank deposit insurance, Credit, Credit 

unions, Reporting and recordkeeping 

requirements. 

By the National Credit Union 

Administration Board on March 17, 2011. 

Mary Rupp, 

Secretary of the Board. 

For the reasons stated in the 

preamble, the National Credit Union 

Administration proposes to amend 12 

CFR parts 700, 701, 702, and 742 as set 

forth below: 

PART 700—DEFINITIONS 

1. The authority citation for part 700 

continues to read as follows: 

Authority: 12 U.S.C. 1752, 1757(6) and 

1766. 

2. In § 700.2, redesignate paragraphs 

(f) through (j) as paragraphs (g) through 

(k) and add new paragraph (f) to read as 

follows: 

§ 700.2 Definitions. 

* * * * * 

(f) Net worth. Unless otherwise noted, 

the term ‘‘net worth,’’ as applied to 

credit unions, has the same meaning as 

set forth in § 702.2(f) of this chapter. 

* * * * * 

PART 701—ORGANIZATION AND 

OPERATION OF FEDERAL CREDIT 

UNIONS 

3. The authority citation for part 701 

continues to read as follows: 

Authority: 12 U.S.C. 1752(5), 1755, 1756, 

1757, 1758, 1759, 1761a, 1761b, 1766, 1767, 

1782, 1784, 1786, 1787, 1789. Section 701.6 

is also authorized by 15 U.S.C. 3717. Section 

701.31 is also authorized by 15 U.S.C. 1601 

et seq.; 42 U.S.C. 1981 and 3601–3610. 

Section 701.35 is also authorized by 42 

U.S.C. 4311–4312. 

4. Revise § 701.21(h)(4)(iv) to read as 

follows: 

§ 701.21 Loans to Members and Lines of 

Credit to Members. 

* * * * * 

(h) * * * 

(4) * * * 

(iv) The term ‘‘net worth’’ means the 

retained earnings balance of the credit 

union at quarter end as determined 

under generally accepted accounting 

principles and as further defined in 

§ 702.2(f) of this chapter. 

* * * * * 


jlentini on DSKJ8SOYB1PROD with PROPOSALS
16348 Federal Register / Vol. 76, No. 56 / Wednesday, March 23, 2011 / Proposed Rules 

PART 702—PROMPT CORRECTIVE 

ACTION 

5. The authority citation for part 702 

continues to read as follows: 

Authority: 12 U.S.C. 1766(a), 1790(d). 

6. In § 702.2, revise paragraph (f)(3) 

and add paragraph (f)(4) to read as 

follows: 

§ 702.2 Definitions. 

* * * * * 

(f) * * * 

(3) For a credit union that acquires 

another credit union in a mutual 

combination, net worth includes the 

retained earnings of the acquired credit 

union, or of an integrated set of 

activities and assets, less any bargain 

purchase gain recognized in either case 

to the extent the difference between the 

two is greater than zero. The acquired 

retained earnings must be determined at 

the point of acquisition under generally 

accepted accounting principles. A 

mutual combination is a transaction in 

which a credit union acquires another 

credit union or acquires an integrated 

set of activities and assets that is 

capable of being conducted and 

managed as a credit union. 

(4) The term ‘‘net worth’’ also includes 

loans to and accounts in an insured 

credit union established pursuant to 

section 208 of the Act [12 U.S.C. 1788], 

provided such loans and accounts: 

(i) Have a remaining maturity of more 

than 5 years; 

(ii) Are subordinate to all other claims 

including those of shareholders, 

creditors and the National Credit Union 

Share Insurance Fund; 

(iii) Are not pledged as security on a 

loan to, or other obligation of, any party; 

(iv) Are not insured by the National 

Credit Union Share Insurance Fund; (v) 

Have non-cumulative dividends; 

(vi) Are transferable; and 

(vii) Are available to cover operating 

losses realized by the insured credit 

union that exceed its available retained 

earnings. 

* * * * * 

PART 741—REQUIREMENTS FOR 

INSURANCE 

7. The authority citation for part 741 

continues to read as follows: 

Authority: 12 U.S.C. 1757, 1766(a), 1781– 

1790, and 1790d; 31 U.S.C. 3717. 

8. In § 741.4, in paragraph (b), revise 

the introductory text for the definition 

of equity ratio to read as follows: 

§ 741.4 Insurance premium and one 

percent deposit. 

* * * * * 

(b) * * * 

Equity ratio, which shall be calculated 

using the financial statements of the 

NCUSIF alone, without any 

consolidation or combination with the 

financial statements of any other fund or 

entity, means the ratio of: 

* * * * * 

[FR Doc. 2011–6757 Filed 3–22–11; 8:45 am] 

BILLING CODE 7535–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2011–0123; Airspace 

Docket No. 11–AGL–2] 

Proposed Amendment of Class E 

Airspace; Duluth, MN 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: This action proposes to 

amend Class E airspace at Duluth, MN, 

to accommodate new Standard 

Instrument Approach Procedures at 

Duluth International Airport. The FAA 

is taking this action to enhance the 

safety and management of Instrument 

Flight Rules (IFR) operations at the 

airport. 

DATES: 0901 UTC. Comments must be 

received on or before May 9, 2011. 

ADDRESSES: Send comments on this 

proposal to the U.S. Department of 

Transportation, Docket Operations, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590–0001. You must 

identify the docket number FAA–2011– 

0123/Airspace Docket No. 11–AGL–2, at 

the beginning of your comments. You 

may also submit comments through the 

Internet at http://www.regulations.gov. 

You may review the public docket 

containing the proposal, any comments 

received, and any final disposition in 

person in the Dockets Office between 

9 a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. The 

Docket Office (telephone 1–800–647– 

5527), is on the ground floor of the 

building at the above address. 

FOR FURTHER INFORMATION CONTACT: 

Scott Enander, Central Service Center, 

Operations Support Group, Federal 

Aviation Administration, Southwest 

Region, 2601 Meacham Blvd., Fort 

Worth, TX 76137; telephone: (817) 321– 

7716. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

Interested parties are invited to 

participate in this proposed rulemaking 

by submitting such written data, views, 

or arguments, as they may desire. 

Comments that provide the factual basis 

supporting the views and suggestions 

presented are particularly helpful in 

developing reasoned regulatory 

decisions on the proposal. Comments 

are specifically invited on the overall 

regulatory, aeronautical, economic, 

environmental, and energy-related 

aspects of the proposal. 

Communications should identify both 

docket numbers and be submitted in 

triplicate to the address listed above. 

Commenters wishing the FAA to 

acknowledge receipt of their comments 

on this notice must submit with those 

comments a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to 

Docket No. FAA–2011–0123/Airspace 

Docket No. 11–AGL–2.’’ The postcard 

will be date/time stamped and returned 

to the commenter. 

Availability of NPRMs 

An electronic copy of this document 

may be downloaded through the 

Internet at http://www.regulations.gov. 

Recently published rulemaking 

documents can also be accessed through 

the FAA’s Web page at http:// 

www.faa.gov/airports_airtraffic/ 

air_traffic/publications/ 

airspace_amendments/. 

You may review the public docket 

containing the proposal, any comments 

received and any final disposition in 

person in the Dockets Office (see 

ADDRESSES section for address and 

phone number) between 9 a.m. and 

5 p.m., Monday through Friday, except 

Federal holidays. An informal docket 

may also be examined during normal 

business hours at the office of the 

Central Service Center, 2601 Meacham 

Blvd., Fort Worth, TX 76137. 

Persons interested in being placed on 

a mailing list for future NPRMs should 

contact the FAA’s Office of Rulemaking 

(202) 267–9677, to request a copy of 

Advisory Circular No. 11–2A, Notice of 

Proposed Rulemaking Distribution 

System, which describes the application 

procedure. 

The Proposal 

This action proposes to amend title 

14, Code of Federal Regulations (14 

CFR), part 71 by amending Class E 

airspace, as an extension to a Class D or 

E surface area; and Class E airspace 

extending upward from 700 feet above 

the surface, for new standard instrument 

approach procedures at Duluth 


jlentini on DSKJ8SOYB1PROD with PROPOSALS