Federal Register / Vol. 76, No. 64 / Monday, April 4, 2011 / Rules and Regulations 18375 

Reserve Bank reasonably believes to be 

genuine. 

(b) The obligation of the Banks and 

the Office of Finance to make payments 

of interest and principal with respect to 

Book-entry consolidated obligations is 

discharged at the time payment in the 

appropriate amount is made as follows: 

(1) Interest on Book-entry 

consolidated obligations is either 

credited by a Federal Reserve Bank to a 

Funds Account maintained at the 

Federal Reserve Bank or otherwise paid 

as directed by the Participant. 

(2) Book-entry consolidated 

obligations are paid, either at maturity 

or upon redemption, in accordance with 

their terms by a Federal Reserve Bank 

withdrawing the securities from the 

Participant’s Securities Account in 

which they are maintained and by either 

crediting the amount of the proceeds, 

including both principal and interest, 

where applicable, to a Funds Account at 

the Federal Reserve Bank or otherwise 

paying such principal and interest as 

directed by the Participant. No action by 

the Participant is required in connection 

with the payment of a Book-entry 

consolidated obligation, unless 

otherwise expressly required. 

§ 1270.16 Authority of Federal Reserve 

Banks. 

(a) Each Federal Reserve Bank is 

hereby authorized as fiscal agent of the 

Office of Finance: To perform functions 

with respect to the issuance of Bookentry consolidated obligations, in 

accordance with the terms of the 

applicable offering notice and with 

procedures established by the Office of 

Finance; to service and maintain Bookentry consolidated obligations in 

accounts established for such purposes; 

to make payments of principal, interest 

and redemption premium (if any), as 

directed by the Office of Finance; to 

effect transfer of Book-entry 

consolidated obligations between 

Participants’ Securities Accounts as 

directed by the Participants; and to 

perform such other duties as fiscal agent 

as may be requested by the Office of 

Finance. 

(b) Each Federal Reserve Bank may 

issue Operating Circulars not 

inconsistent with this part 1270, 

governing the details of its handling of 

Book-entry consolidated obligations, 

Security Entitlements, and the operation 

of the Book-entry system under this part 

1270. 

§ 1270.17 Liability of Banks, FHFA, Office 

of Finance and Federal Reserve Banks. 

The Banks, FHFA, the Director, the 

Office of Finance and the Federal 

Reserve Banks may rely on the 

information provided in a tender, 

transaction request form, other 

transaction documentation, or Transfer 

Message, and are not required to verify 

the information. Neither the Banks, 

FHFA, the Director, the Office of 

Finance, the United States, nor the 

Federal Reserve Banks shall be liable for 

any action taken in accordance with the 

information set out in a tender, 

transaction request form, other 

transaction documentation, or Transfer 

Message, or evidence submitted in 

support thereof. 

§ 1270.18 Additional requirements; notice 

of attachment for Book-entry consolidated 

obligations. 

(a) Additional requirements. In any 

case or any class of cases arising under 

the regulations in this part 1270, the 

Office of Finance may require such 

additional evidence and a bond of 

indemnity, with or without surety, as 

may in its judgment, or in the judgment 

of the Banks or FHFA, be necessary for 

the protection of the interests of the 

Banks, FHFA, the Office of Finance or 

the United States. 

(b) Notice of attachment. The interest 

of a debtor in a Security Entitlement 

may be reached by a creditor only by 

legal process upon the Securities 

Intermediary with whom the debtor’s 

securities account is maintained, except 

where a Security Entitlement is 

maintained in the name of a secured 

party, in which case the debtor’s interest 

may be reached by legal process upon 

the secured party. The regulations in 

this part 1270 do not purport to 

establish whether a Federal Reserve 

Bank is required to honor an order or 

other notice of attachment in any 

particular case or class of cases. 

§ 1270.19 Reference to certain Department 

of Treasury commentary and 

determinations. 

Notwithstanding provisions in 

§ 1270.6 regarding Department of 

Treasury regulations set forth in 31 CFR 

part 357: 

(a) The Department of Treasury 

TRADES Commentary (31 CFR part 357, 

appendix B) addressing the Department 

of Treasury regulations governing bookentry procedure for Treasury Securities 

is hereby referenced, so far as applicable 

and as necessarily modified to relate to 

Book-entry consolidated obligations, as 

an interpretive aid to this subpart D of 

this part. 

(b) Determinations of the Department 

of Treasury regarding whether a State 

shall be considered to have adopted 

Revised Article 8 for purposes of 31 CFR 

part 357, as published in the Federal 

Register or otherwise, shall also apply 

to this subpart D of this part. 

§ 1270.20 Consolidated obligations are not 

obligations of the United States or 

guaranteed by the United States. 

Consolidated obligations are not 

obligations of the United States and are 

not guaranteed by the United States. 

Dated: March 28, 2011. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2011–7832 Filed 4–1–11; 8:45 am] 

BILLING CODE 8070–01–P 

SMALL BUSINESS ADMINISTRATION 

13 CFR Part 120 

Small Business Jobs Act: Eligible 

Loans for 504 Loan Program Debt 

Refinancing 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Announcement of loan 

eligibility. 

SUMMARY: The SBA is issuing this 

document to allow loans with any 

maturity date to be eligible for debt 

refinancing under the Small Business 

Jobs Act. 

DATES: Effective Date: This document is 

effective April 4, 2011. 

FOR FURTHER INFORMATION CONTACT: 

Andrew B. McConnell, Jr., Office of 

Financial Assistance, U.S. Small 

Business Administration, 409 Third 

Street, SW., Washington, DC 20416; 

Telephone (202) 205–7238; e-mail: 

Andrew.McConnell@sba.gov. 

SUPPLEMENTARY INFORMATION: Under the 

temporary 504 debt refinancing program 

authorized by the Small Business Jobs 

Act (Jobs Act), Public Law 111–240, 124 

Stat. 2504, only loans that will mature 

on or before December 31, 2012, are 

eligible for this temporary program, 

unless SBA publishes a Notice in the 

Federal Register extending such date 

based on its assessment of available 

resources and market conditions. See 13 

CFR 120.882(g)(3). SBA established this 

initial maturity date in order to ensure 

that those small businesses most in need 

would have access to the limited 

resources available in this temporary 

program. Based on a review of program 

demand, SBA has determined that it 

currently has the resources available to 

accept applications for the refinancing 

of loans with any maturity date. 

Effective immediately, such loans will 

now be eligible for this temporary debt 

refinancing program if they also meet 

the other statutory and regulatory 

requirements. 


sroberts on DSK69SOYB1PROD with RULES
18376 Federal Register / Vol. 76, No. 64 / Monday, April 4, 2011 / Rules and Regulations 

Authority: 13 CFR part 120. 

Grady B. Hedgespeth, 

Director, Office of Financial Assistance. 

[FR Doc. 2011–7862 Filed 4–1–11; 8:45 am] 

BILLING CODE 8025–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2011–0302; Directorate 

Identifier 2011–CE–008–AD; Amendment 

39–16650; AD 2011–07–13] 

RIN 2120–AA64 

Airworthiness Directives; CPAC, Inc. 

(Type Certificate Formerly Held by 

Commander Aircraft Corporation, 

Gulfstream Aerospace Corporation, 

and Rockwell International) Models 

112, 112B, 112TC, 112TCA, 114, 114A, 

114B, and 114TC Airplanes 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; request for 

comments. 

SUMMARY: We are adopting a new 

airworthiness directive (AD) for the 

products listed above. This AD requires 

an inspection of the elevator spar for 

cracks and, if any crack is found, either 

replacement with a serviceable elevator 

spar that is found free of cracks or 

repair/modification with an FAAapproved method. This AD also requires 

reporting to the FAA the results of the 

inspection. This AD was prompted by 

reports of a total of nine elevator spar 

cracks across seven of the affected 

airplanes, including a crack of 2.35 

inches just below the outboard hinge of 

the right-hand elevator. We are issuing 

this AD to prevent structural failure of 

the elevator spar due to such cracking, 

which could result in separation of the 

elevator from the airplane with 

consequent loss of control. 

DATES: This AD is effective April 4, 

2011. 

We must receive comments on this 

AD by May 19, 2011. 

ADDRESSES: You may send comments by 

any of the following methods: 

• Federal eRulemaking Portal: Go to 

http://www.regulations.gov. Follow the 

instructions for submitting comments. 

• Fax: 202–493–2251. 

• Mail: U.S. Department of 

Transportation, Docket Operations, 

M–30, West Building Ground Floor, 

Room W12–140, 1200 New Jersey 

Avenue, SE., Washington, DC 20590. 

• Hand Delivery: U.S. Department of 

Transportation, Docket Operations, 

M–30, West Building Ground Floor, 

Room W12–140, 1200 New Jersey 

Avenue, SE., Washington, DC 20590, 

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

through Friday, except Federal holidays. 

Examining the AD Docket 

You may examine the AD docket on 

the Internet at http:// 

www.regulations.gov; or in person at the 

Docket Management Facility between 

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

Friday, except Federal holidays. The AD 

docket contains this AD, the regulatory 

evaluation, any comments received, and 

other information. The street address for 

the Docket Office (phone: 800–647– 

5527) is in the ADDRESSES section. 

Comments will be available in the AD 

docket shortly after receipt. 

FOR FURTHER INFORMATION CONTACT: 

T.N. Baktha, Senior Aerospace Engineer, 

Wichita Aircraft Certification Office 

(ACO), FAA, 1801 Airport Road, Room 

100; phone: (316) 946–4155; fax: (316) 

946–4107; e-mail: t.n.baktha@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Discussion 

The FAA has received a report from 

CPAC, Inc. describing a crack of 2.35 

inches just below the outboard hinge of 

the right-hand elevator on a CPAC, Inc. 

Model 114 airplane. The Models 112, 

112B, 112TC, 112TCA, 114, 114A, 114B, 

and 114TC have the same design of the 

elevator spar and are all part of Type 

Certificate A12SO. There have been a 

total of nine elevator spar cracks across 

seven of these airplanes. 

Type Certificate A12SO does not 

include Models 112A and 115. The 

Model 112A is a Rockwell ‘‘marketing 

name’’ for the Model 112. The Model 

115 is a Rockwell ‘‘marketing name’’ for 

the Model 114. 

If not corrected, structural failure of 

the elevator spar could result in 

separation of the elevator from the 

airplane with consequent loss of 

control. 

Relevant Service Information 

We have included in this AD 

procedures for removing the elevator 

and inspecting the forward and aft sides 

of the right-hand and left-hand elevator 

forward spar web near and around the 

outboard hinge area. 

FAA’s Determination 

We are issuing this AD because we 

evaluated all the relevant information 

and determined the unsafe condition 

described previously is likely to exist or 

develop in other products of the same 

type design. 

AD Requirements 

This AD requires an inspection of the 

elevator spar for cracks and, if any crack 

is found, replacement of the elevator 

spar with a serviceable spar that is 

found free of cracks or repair/ 

modification with an FAA-approved 

method. This AD also requires reporting 

to the FAA of the results of the 

inspection. 

Interim Action 

We consider this AD interim action. 

We are requiring a one-time inspection 

of the elevator spar with a report to the 

FAA of the results. We will work with 

the type certificate holder to evaluate 

that information to determine repetitive 

inspection intervals and subsequent 

terminating action. Based on this 

evaluation, we may initiate further 

rulemaking action to address the unsafe 

condition identified in this AD. 

FAA’s Justification and Determination 

of the Effective Date 

An unsafe condition exists that 

requires the immediate adoption of this 

AD. The FAA has found that the risk to 

the flying public justifies waiving notice 

and comment prior to adoption of this 

rule because structural failure of the 

elevator spar would result in potential 

separation of the elevator with 

consequent loss of control. 

Therefore, we find that notice and 

opportunity for prior public comment 

are impracticable and that good cause 

exists for making this amendment 

effective in less than 30 days. 

Comments Invited 

This AD is a final rule that involves 

requirements affecting flight safety and 

was not preceded by notice and an 

opportunity for public comment. 

However, we invite you to send any 

written data, views, or arguments about 

this AD. Send your comments to an 

address listed under the ADDRESSES

section. Include the docket number 

FAA–2011–0302 and Directorate 

Identifier 2011–CE–008–AD at the 

beginning of your comments. We 

specifically invite comments on the 

overall regulatory, economic, 

environmental, and energy aspects of 

this AD. We will consider all comments 

received by the closing date and may 

amend this AD because of those 

comments. 

We will post all comments we 

receive, without change, to http:// 

www.regulations.gov, including any 

personal information you provide. We 

will also post a report summarizing each 

substantive verbal contact we receive 

about this AD. 


sroberts on DSK69SOYB1PROD with RULES