3142 Federal Register / Vol. 76, No. 12 / Wednesday, January 19, 2011 / Notices 

or use existing stocks until such stocks 

are exhausted, provided that such sale, 

distribution, or use is consistent with 

the terms of the previously approved 

labeling on, or that accompanied, the 

canceled product. 

List of Subjects 

Environmental protection, Pesticides 

and pests. 

Dated: January 11, 2011. 

Richard P. Keigwin, Jr., 

Director, Pesticide Re-evaluation Division, 

Office of Pesticide Programs. 

[FR Doc. 2011–936 Filed 1–18–11; 8:45 am] 

BILLING CODE 6560–50–P 

FEDERAL ACCOUNTING STANDARDS 

ADVISORY BOARD 

Release of Exposure Draft Technical 

Bulletins; Accounting for Oil and Gas 

Resources and Federal Natural 

Resources Other Than Oil and Gas 

AGENCY: Federal Accounting Standards 

Advisory Board. 

ACTION: Notice. 

Board Action: Pursuant to 31 U.S.C. 

3511(d), the Federal Advisory 

Committee Act (Pub. L. 92–463), as 

amended, and the FASAB Rules of 

Procedure, as amended in October, 

2010, notice is hereby given that the 

Federal Accounting Standards Advisory 

Board (FASAB) has released Exposure 

Draft Technical Bulletin 2011–1, 

Accounting for Federal Natural 

Resources Other Than Oil and Gas, and 

an Exposure Draft that Proposes to Defer 

the Effective Date of SFFAS 38, 

Accounting for Federal Oil and Gas 

Resources. 

The Exposure Drafts are available on 

the FASAB home page http:// 

www.fasab.gov/exposure.html. Copies 

can be obtained by contacting FASAB at 

(202) 512–7350. 

Respondents are encouraged to 

comment on any part of the exposure 

drafts. Written comments on the 

Exposure Draft Technical Bulletin 

2011–1 are requested by January 31, 

2011. Written comments on the 

Exposure Draft to Defer the Effective 

Date of SFFAS 38 are requested by 

February 11, 2011. Comments on the 

Exposure Drafts should be sent to: 

Wendy M. Payne, Executive Director, 

Federal Accounting Standards Advisory 

Board, 441 G Street, NW., Suite 6814, 

Mail Stop 6K17V, Washington, DC 

20548. 

FOR FURTHER INFORMATION CONTACT: 

Wendy Payne, Executive Director, at 

(202) 512–7350. 

Authority: Federal Advisory Committee 

Act, Pub. L. 92–463. 

Dated: January 11, 2011. 

Charles Jackson, 

Federal Register Liaison Officer. 

[FR Doc. 2011–846 Filed 1–18–11; 8:45 am] 

BILLING CODE 1610–02–P 

FEDERAL HOUSING FINANCE 

AGENCY 

[No. 2011–N–01] 

Notice of Annual Adjustment of the 

Cap on Average Total Assets That 

Defines Community Financial 

Institutions 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Notice. 

SUMMARY: The Federal Housing Finance 

Agency (FHFA) has adjusted the cap on 

average total assets that defines a 

‘‘Community Financial Institution’’ 

based on the annual percentage increase 

in the Consumer Price Index for all 

urban consumers (CPI–U) as published 

by the Department of Labor (DOL). 

These changes took effect on January 1, 

2011. 

FOR FURTHER INFORMATION CONTACT: 

Patricia L. Sweeney, Division of Federal 

Home Loan Bank Regulation, 202–408– 

2872, Pat.Sweeney@fhfa.gov, Federal 

Housing Finance Agency, 1625 Eye 

Street NW., Washington, DC 20006– 

4001; Eric M. Raudenbush, Assistant 

General Counsel, 202–414–6421, 

Eric.Raudenbush@fhfa.gov, Federal 

Housing Finance Agency, Fourth Floor, 

1700 G Street, NW., Washington, DC 

20552. 

SUPPLEMENTARY INFORMATION: 

I. Statutory and Regulatory Background 

The Federal Home Loan Bank Act 

(Bank Act) confers upon insured 

depository institutions that meet the 

statutory definition of a ‘‘Community 

Financial Institution’’ (CFI) certain 

advantages over non-CFI insured 

depository institutions in qualifying for 

Federal Home Loan Bank (Bank) 

membership, and in the purposes for 

which they may receive long-term 

advances and the collateral they may 

pledge to secure advances. See 12 U.S.C. 

1424(a), 1430(a). Section 2(10)(A) of the 

Bank Act and § 1263.1 of FHFA’s 

regulations define a CFI as any Bank 

member the deposits of which are 

insured by the Federal Deposit 

Insurance Corporation and that has 

average total assets below a statutory 

cap. See 12 U.S.C. 1422(10)(A); 12 CFR 

1263.1. The Bank Act was amended in 

2008 to set the statutory cap at $1 

billion and to require the Director of 

FHFA to adjust the cap annually to 

reflect the percentage increase in the 

CPI–U, as published by the DOL, for the 

prior year. See 12 U.S.C. 1422(10); 12 

CFR 1263.1 (defining the term CFI asset 

cap). For 2010, FHFA set the CFI asset 

cap at $1,029,000,000, which reflected a 

1.8 percent increase over 2009, based 

upon the increase in the CPI–U between 

2008 and 2009. See 75 FR 9601 (Mar. 3, 

2010). 

II. The CFI Asset Cap for 2011 

As of January 1, 2011, FHFA has 

increased the CFI asset cap from 

$1,029,000,000 to $1,040,000,000, 

which reflects a 1.1 percent increase in 

the unadjusted CPI–U from November 

2009 to November 2010. The new 

amount was obtained by rounding to the 

nearest million, as has been the practice 

for all prior adjustments. Consistent 

with the practice of other Federal 

agencies, FHFA bases the annual 

adjustment to the CFI asset cap on the 

percentage increase in the CPI–U from 

November of the year prior to the 

preceding calendar year to November of 

the preceding calendar year, because the 

November figures represent the most 

recent available data as of January 1st of 

the current calendar year. 

In calculating the CFI asset cap, FHFA 

uses CPI–U data that have not been 

seasonally adjusted (i.e., the data have 

not been adjusted to remove the 

estimated effect of price changes that 

normally occur at the same time and in 

about the same magnitude every year). 

The DOL encourages use of unadjusted 

CPI–U data in applying ‘‘escalation’’ 

provisions such as that governing the 

CFI asset cap, because the factors that 

are used to seasonally adjust the data 

are amended annually, and seasonally 

adjusted data that are published earlier 

are subject to revision for up to five 

years following their original release. 

Unadjusted data are not routinely 

subject to revision, and previously 

published unadjusted data are only 

corrected when significant calculation 

errors are discovered. 

Dated: January 11, 2011. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2011–991 Filed 1–18–11; 8:45 am] 

BILLING CODE 8070–01–P 

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