71528 Federal Register / Vol. 75, No. 226 / Wednesday, November 24, 2010 / Rules and Regulations 

Government Appropriations Act, 1999, 

Public Law 105–277, 112 Stat. 2681 

(1998). 

List of Subjects in 12 CFR Part 704 

Credit unions, Corporate credit 

unions, Reporting and recordkeeping 

requirements. 

By the National Credit Union 

Administration Board on November 18, 2010. 

Mary F. Rupp, 

Secretary of the Board. 

■ For the reasons stated in the preamble, 

the National Credit Union 

Administration amends 12 CFR part 704 

as set forth below: 

PART 704—CORPORATE CREDIT 

UNIONS 

■ 1. The authority citation for part 704 

continues to read as follows: 

Authority: 12 U.S.C. 1762, 1766(a), 1772a, 

1781, 1789, and 1795e. 

■ 2. Revise the definition of 

‘‘collateralized debt obligation’’ in 

§ 704.2 to read as follows: 

§ 704.2 Definitions. 

* * * * * 

Collateralized debt obligation (CDO) 

means a debt security collateralized by 

mortgage-backed securities, other assetbacked securities, or corporate 

obligations in the form of nonmortgage 

loans or debt. For purposes of part 704, 

the term CDO does not include: 

(1) Senior tranches of Re-REMIC’s 

consisting of senior mortgage-and assetbacked securities; 

(2) Any security that is fully 

guaranteed as to principal and interest 

by the U.S. Government or its agencies 

or its sponsored enterprises; or 

(3) Any security collateralized by 

other securities where all the underlying 

securities are fully guaranteed as to 

principal and interest by the U.S. 

Government or its agencies or its 

sponsored enterprises. 

* * * * * 

■ 3. Effective October 20, 2011, revise 

the definition of ‘‘collateralized debt 

obligation’’ in § 704.2 to read as follows: 

§ 704.2 Definitions. 

* * * * * 

Collateralized debt obligation (CDO) 

means a debt security collateralized by 

mortgage-backed securities, other assetbacked securities, or corporate 

obligations in the form of nonmortgage 

loans or debt. For purposes of Part 704, 

the term CDO does not include: 

(1) Senior tranches of Re-REMIC’s 

consisting of senior mortgage-and assetbacked securities; 

(2) Any security that is fully 

guaranteed as to principal and interest 

by the U.S. Government or its agencies 

or its sponsored enterprises; or 

(3) Any security collateralized by 

other securities where all the underlying 

securities are fully guaranteed as to 

principal and interest by the U.S. 

Government or its agencies or its 

sponsored enterprises. 

* * * * * 

■ 4. Revise paragraph (b) in § 704.6 to 

read as follows: 

§ 704.6 Credit risk management. 

* * * * * 

(b) Exemption. The limitations and 

requirements of this section do not 

apply to certain assets, whether or not 

considered investments under this part, 

including fixed assets, individual loans 

and loan participation interests, 

investments in CUSOs, investments that 

are issued or fully guaranteed as to 

principal and interest by the U.S. 

government or its agencies or its 

sponsored enterprises (but not 

exempting, for purposes of paragraph 

(d) of this section, mortgage backed 

securities), investments that are fully 

insured or guaranteed (including 

accumulated dividends and interest) by 

the NCUSIF or the Federal Deposit 

Insurance Corporation, and settlement 

funds in federally insured depository 

institutions. 

* * * * * 

■ 5. Revise the introductory note in 

Model Form H, Appendix A, to read as 

follows: 

Appendix A to Part 704—Capital 

Prioritization and Model Forms 

* * * * * 

Model Form H 

Note: This form is for use on or after 

October 20, 2011 in the circumstances where 

the credit union has determined that it will 

give newly issued capital priority over older 

capital as described in Part I of this 

Appendix. Also, capital previously issued 

under the nomenclature ‘‘paid-in capital’’ is 

considered perpetual contributed capital. 

* * * * * 

[FR Doc. 2010–29547 Filed 11–23–10; 8:45 am] 

BILLING CODE 7535–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2010–0760; Directorate 

Identifier 2010–NM–086–AD; Amendment 

39–16520; AD 2010–24–02] 

RIN 2120–AA64 

Airworthiness Directives; DassaultAviation Model FALCON 7X Airplanes 

AGENCY: Federal Aviation 

Administration, Department of 

Transportation. 

ACTION: Final rule. 

SUMMARY: We are adopting a new 

airworthiness directive (AD) for the 

products listed above. This AD results 

from mandatory continuing 

airworthiness information (MCAI) 

originated by an aviation authority of 

another country to identify and correct 

an unsafe condition on an aviation 

product. The MCAI describes the unsafe 

condition as: 

A design review has shown that the 

Lightning Sensor System (LSS) antenna 

which is optionally installed on certain 

Falcon 7X aeroplanes might, in the event of 

belly or gear-up landing, puncture the rear 

fuel tank, which could result in fuel leakage 

and post-landing fire. 

We are issuing this AD to require 

actions to correct the unsafe condition 

on these products. 

DATES: This AD becomes effective 

December 29, 2010. 

The Director of the Federal Register 

approved the incorporation by reference 

of a certain publication listed in this AD 

as of December 29, 2010. 

ADDRESSES: You may examine the AD 

docket on the Internet at http:// 

www.regulations.gov or in person at the 

U.S. Department of Transportation, 

Docket Operations, M–30, West 

Building Ground Floor, Room W12–140, 

1200 New Jersey Avenue, SE., 

Washington, DC. 

FOR FURTHER INFORMATION CONTACT: Tom 

Rodriguez, Aerospace Engineer, 

International Branch, ANM–116, 

Transport Airplane Directorate, FAA, 

1601 Lind Avenue, SW., Renton, 

Washington 98057–3356; telephone 

(425) 227–1137; fax (425) 227–1149. 

SUPPLEMENTARY INFORMATION: 

Discussion 

We issued a notice of proposed 

rulemaking (NPRM) to amend 14 CFR 

part 39 to include an AD that would 

apply to the specified products. That 

NPRM was published in the Federal 

Register on August 5, 2010 (75 FR 


jlentini on DSKJ8SOYB1PROD with RULES
Federal Register / Vol. 75, No. 226 / Wednesday, November 24, 2010 / Rules and Regulations 71529 

47247). That NPRM proposed to correct 

an unsafe condition for the specified 

products. The MCAI states: 

A design review has shown that the 

Lightning Sensor System (LSS) antenna 

which is optionally installed on certain 

Falcon 7X aeroplanes might, in the event of 

belly or gear-up landing, puncture the rear 

fuel tank, which could result in fuel leakage 

and post-landing fire. 

This AD requires the reinforcement of the 

rear fuel tank by bonding a titanium shield 

plate on the tank structure above the LSS 

antenna connector. 

You may obtain further information by 

examining the MCAI in the AD docket. 

Comments 

We gave the public the opportunity to 

participate in developing this AD. We 

received no comments on the NPRM or 

on the determination of the cost to the 

public. 

Conclusion 

We reviewed the available data and 

determined that air safety and the 

public interest require adopting the AD 

as proposed. 

Differences Between This AD and the 

MCAI or Service Information 

We have reviewed the MCAI and 

related service information and, in 

general, agree with their substance. But 

we might have found it necessary to use 

different words from those in the MCAI 

to ensure the AD is clear for U.S. 

operators and is enforceable. In making 

these changes, we do not intend to differ 

substantively from the information 

provided in the MCAI and related 

service information. 

We might also have required different 

actions in this AD from those in the 

MCAI in order to follow our FAA 

policies. Any such differences are 

highlighted in a Note within the AD. 

Costs of Compliance 

We estimate that this AD will affect 5 

products of U.S. registry. We also 

estimate that it will take about 10 workhours per product to comply with the 

basic requirements of this AD. The 

average labor rate is $85 per work-hour. 

Required parts will cost about $384 per 

product. Where the service information 

lists required parts costs that are 

covered under warranty, we have 

assumed that there will be no charge for 

these parts. As we do not control 

warranty coverage for affected parties, 

some parties may incur costs higher 

than estimated here. Based on these 

figures, we estimate the cost of this AD 

to the U.S. operators to be $6,170, or 

$1,234 per product. 

Authority for This Rulemaking 

Title 49 of the United States Code 

specifies the FAA’s authority to issue 

rules on aviation safety. Subtitle I, 

section 106, describes the authority of 

the FAA Administrator. ‘‘Subtitle VII: 

Aviation Programs,’’ describes in more 

detail the scope of the Agency’s 

authority. 

We are issuing this rulemaking under 

the authority described in ‘‘Subtitle VII, 

Part A, Subpart III, Section 44701: 

General requirements.’’ Under that 

section, Congress charges the FAA with 

promoting safe flight of civil aircraft in 

air commerce by prescribing regulations 

for practices, methods, and procedures 

the Administrator finds necessary for 

safety in air commerce. This regulation 

is within the scope of that authority 

because it addresses an unsafe condition 

that is likely to exist or develop on 

products identified in this rulemaking 

action. 

Regulatory Findings 

We determined that this AD will not 

have federalism implications under 

Executive Order 13132. This AD will 

not have a substantial direct effect on 

the States, on the relationship between 

the national government and the States, 

or on the distribution of power and 

responsibilities among the various 

levels of government. 

For the reasons discussed above, I 

certify this AD: 

1. Is not a ‘‘significant regulatory 

action’’ under Executive Order 12866; 

2. Is not a ‘‘significant rule’’ under the 

DOT Regulatory Policies and Procedures 

(44 FR 11034, February 26, 1979); and 

3. Will not have a significant 

economic impact, positive or negative, 

on a substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

We prepared a regulatory evaluation 

of the estimated costs to comply with 

this AD and placed it in the AD docket. 

Examining the AD Docket 

You may examine the AD docket on 

the Internet at http:// 

www.regulations.gov; or in person at the 

Docket Operations office between 9 a.m. 

and 5 p.m., Monday through Friday, 

except Federal holidays. The AD docket 

contains the NPRM, the regulatory 

evaluation, any comments received, and 

other information. The street address for 

the Docket Operations office (telephone 

(800) 647–5527) is in the ADDRESSES

section. Comments will be available in 

the AD docket shortly after receipt. 

List of Subjects in 14 CFR Part 39 

Air transportation, Aircraft, Aviation 

safety, Incorporation by reference, 

Safety. 

Adoption of the Amendment 

■ Accordingly, under the authority 

delegated to me by the Administrator, 

the FAA amends 14 CFR part 39 as 

follows: 

PART 39—AIRWORTHINESS 

DIRECTIVES 

■ 1. The authority citation for part 39 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40113, 44701. 

§ 39.13 [Amended] 

■ 2. The FAA amends § 39.13 by adding 

the following new AD: 

2010–24–02 Dassault-Aviation: 

Amendment 39–16520. Docket No. 

FAA–2010–0760; Directorate Identifier 

2010–NM–086–AD. 

Effective Date 

(a) This airworthiness directive (AD) 

becomes effective December 29, 2010. 

Affected ADs 

(b) None. 

Applicability 

(c) This AD applies to Dassault-Aviation 

Model FALCON 7X airplanes, certificated in 

any category, all serial numbers, on which 

Dassault Modification M–OPT 5 has been 

incorporated, except those on which Dassault 

Modification M–OPT 511 has also been 

incorporated. 

Subject 

(d) Air Transport Association (ATA) of 

America Code 53: Fuselage. 

Reason 

(e) The mandatory continuing 

airworthiness information (MCAI) states: 

A design review has shown that the 

Lightning Sensor System (LSS) antenna 

which is optionally installed on certain 

Falcon 7X aeroplanes might, in the event of 

belly or gear-up landing, puncture the rear 

fuel tank, which could result in fuel leakage 

and post-landing fire. 

Compliance 

(f) You are responsible for having the 

actions required by this AD performed within 

the compliance times specified, unless the 

actions have already been done. 

Actions 

(g) Within 25 months after the effective 

date of this AD, install a shield plate on the 

rear fuel tank structure, in accordance with 

the Accomplishment Instructions of Dassault 

Mandatory Service Bulletin 7X–104, dated 

October 30, 2009. 

FAA AD Differences 

Note 1: This AD differs from the MCAI 

and/or service information as follows: No 

differences. 


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71530 Federal Register / Vol. 75, No. 226 / Wednesday, November 24, 2010 / Rules and Regulations 

Other FAA AD Provisions 

(h) The following provisions also apply to 

this AD: 

(1) Alternative Methods of Compliance 

(AMOCs): The Manager, International 

Branch, ANM–116, Transport Airplane 

Directorate, FAA, has the authority to 

approve AMOCs for this AD, if requested 

using the procedures found in 14 CFR 39.19. 

Send information to ATTN: Tom Rodriguez, 

Aerospace Engineer, International Branch, 

ANM–116, Transport Airplane Directorate, 

FAA, 1601 Lind Avenue, SW., Renton, 

Washington 98057–3356; telephone (425) 

227–1137; fax (425) 227–1149. Before using 

any approved AMOC on any airplane to 

which the AMOC applies, notify your 

principal maintenance inspector (PMI) or 

principal avionics inspector (PAI), as 

appropriate, or lacking a principal inspector, 

your local Flight Standards District Office. 

The AMOC approval letter must specifically 

reference this AD. 

(2) Airworthy Product: For any 

requirement in this AD to obtain corrective 

actions from a manufacturer or other source, 

use these actions if they are FAA-approved. 

Corrective actions are considered FAAapproved if they are approved by the State 

of Design Authority (or their delegated 

agent). You are required to assure the product 

is airworthy before it is returned to service. 

(3) Reporting Requirements: A Federal 

agency may not conduct or sponsor, and a 

person is not required to respond to, nor 

shall a person be subject to a penalty for 

failure to comply with a collection of 

information subject to the requirements of 

the Paperwork Reduction Act unless that 

collection of information displays a current 

valid OMB Control Number. The OMB 

Control Number for this information 

collection is 2120–0056. Public reporting for 

this collection of information is estimated to 

be approximately 5 minutes per response, 

including the time for reviewing instructions, 

completing and reviewing the collection of 

information. All responses to this collection 

of information are mandatory. Comments 

concerning the accuracy of this burden and 

suggestions for reducing the burden should 

be directed to the FAA at: 800 Independence 

Ave, SW., Washington, DC 20591, Attn: 

Information Collection Clearance Officer, 

AES–200. 

Related Information 

(i) Refer to MCAI European Aviation Safety 

Agency (EASA) Airworthiness Directive 

2010–0032, dated March 3, 2010; and 

Dassault Mandatory Service Bulletin 7X–104, 

dated October 30, 2009; for related 

information. 

Material Incorporated by Reference 

(j) You must use Dassault Mandatory 

Service Bulletin 7X–104, dated October 30, 

2009, to do the actions required by this AD, 

unless the AD specifies otherwise. 

(1) The Director of the Federal Register 

approved the incorporation by reference of 

this service information under 5 U.S.C. 

552(a) and 1 CFR part 51. 

(2) For service information identified in 

this AD, contact Dassault Falcon Jet, P.O. Box 

2000, South Hackensack, New Jersey 07606; 

telephone 201–440–6700; Internet http:// 

www.dassaultfalcon.com. 

(3) You may review copies of the service 

information at the FAA, Transport Airplane 

Directorate, 1601 Lind Avenue, SW., Renton, 

Washington. For information on the 

availability of this material at the FAA, call 

425–227–1221. 

(4) You may also review copies of the 

service information that is incorporated by 

reference at the National Archives and 

Records Administration (NARA). For 

information on the availability of this 

material at NARA, call 202–741–6030, or go 

to: http://www.archives.gov/federal_register/

code_of_federal_regulations/

ibr_locations.html. 

Issued in Renton, Washington, on 

November 5, 2010. 

Jeffrey E. Duven, 

Acting Manager, Transport Airplane 

Directorate, Aircraft Certification Service. 

[FR Doc. 2010–28938 Filed 11–23–10; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2010–1155; Directorate 

Identifier 2010–NM–238–AD; Amendment 

39–16527; AD 2010–24–08] 

RIN 2120–AA64 

Airworthiness Directives; DASSAULT 

AVIATION Model MYSTERE-FALCON 

50 Airplanes 

AGENCY: Federal Aviation 

Administration (FAA), Department of 

Transportation (DOT). 

ACTION: Final rule; request for 

comments. 

SUMMARY: We are adopting a new 

airworthiness directive (AD) for the 

products listed above. This AD results 

from mandatory continuing 

airworthiness information (MCAI) 

originated by an aviation authority of 

another country to identify and correct 

an unsafe condition on an aviation 

product. The MCAI describes the unsafe 

condition as: 

On two occurrences on Myste`re-Falcon 50 

aeroplanes in service, it was detected that 

two pipes of the emergency brake system #2 

located near the nose landing gear bearing 

were swapped. 

The swapping of these two pipes implies 

that when the Left Hand (LH) brake pedal is 

depressed, the Right Hand (RH) brake unit is 

activated, and conversely, when the RH brake 

pedal is depressed, the LH brake unit is 

actuated. This constitutes an unsafe 

condition, which may go unnoticed as the 

condition is latent until the emergency brake 

system #2 is used. This condition, if not 

corrected, could ultimately lead to a runway 

excursion of the aeroplane. 

* * * * * 

This AD requires actions that are 

intended to address the unsafe 

condition described in the MCAI. 

DATES: This AD becomes effective 

December 9, 2010. 

The Director of the Federal Register 

approved the incorporation by reference 

of a certain publication listed in the AD 

as of December 9, 2010. 

We must receive comments on this 

AD by January 10, 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 W12–40, 1200 New Jersey 

Avenue, SE., Washington, DC, 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 Operations office 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 Operations office (telephone 

(800) 647–5527) is in the ADDRESSES

section. Comments will be available in 

the AD docket shortly after receipt. 

FOR FURTHER INFORMATION CONTACT: Tom 

Rodriguez, Aerospace Engineer, 

International Branch, ANM–116, 

Transport Airplane Directorate, FAA, 

1601 Lind Avenue, SW., Renton, 

Washington 98057–3356; telephone 

(425) 227–1137; fax (425) 227–1149. 

SUPPLEMENTARY INFORMATION: 

Discussion 

The European Aviation Safety Agency 

(EASA), which is the Technical Agent 

for the Member States of the European 

Community, has issued EASA 

Emergency Airworthiness Directive 

2010–0208–E, dated October 12, 2010 

(referred to after this as ‘‘the MCAI’’), to 

correct an unsafe condition for the 

specified products. The MCAI states: 

On two occurrences on Myste`re-Falcon 50 

aeroplanes in service, it was detected that 


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