Federal Register / Vol. 69, No. 201 / Tuesday, October 19, 2004 / Notices 61499

7These procedures are described in the Board’s 

policy statement ‘‘The Federal Reserve in the 

Payments System,’’ Federal Reserve Regulatory 

Service 9–1558.

As discussed in detail in this notice, 

the Reserve Banks expect that the 

substantial decline in volume and 

customers for the noncash collection 

service will make it difficult for the 

Reserve Banks to recover the costs of the 

service in the coming years. The 

availability of other reasonable options 

for depository institutions to collect 

definitive municipal securities and 

coupons is addressed under the 

previous factors. In addition, the public 

benefit that the Reserve Banks provide 

in identifying for customers the 

appropriate paying agent has 

diminished commensurate with the 

decline in the number of paying agents 

(from 3,500 to 100). The Board has not 

identified any other public benefits that 

could be achieved through continued 

provision of the service that would 

outweigh the benefits of withdrawing 

from the service. 

IV. Request for Comment 

The Board requests comment on the 

Reserve Banks’ proposal to withdraw 

from the noncash collection service at 

the end of 2005 and the Board’s analysis 

of the proposal. In addition, the Board 

requests specific comments in the 

following areas: 

(1) Are there alternative service 

providers or substitutable services, in 

addition to DTC, correspondent banks, 

and direct presentment, that have not 

been identified in this notice? 

(2) If presenting directly to paying 

agents, would customers find it useful 

to have access to the Reserve Banks’

paying agent database, which would be 

current as of the last day of the service? 

This database includes securities 

descriptions and associated paying 

agents, including phone number and 

address. 

(3) Are there other tools that 

customers would find useful to facilitate 

the transition? 

(4) Are there any public benefits of 

continued provision of the service by 

the Reserve Banks that have not been 

identified in this notice? 

V. Competitive Impact Analysis 

The Board has established procedures 

for assessing the competitive impact of 

changes that have a direct and material 

adverse effect on the ability of other 

service providers to compete effectively 

with the Federal Reserve in providing 

similar services, due to differing legal 

powers or constraints or due to a 

dominant market position of the Federal 

Reserve deriving from such 

differences. 7 The proposed withdrawal 

by the Reserve Banks from the noncash 

collection service will leave the 

provision of this service to privatesector providers; therefore, it will have 

no material, adverse effect on the ability 

of other service providers to compete 

effectively with the Federal Reserve 

Banks in providing similar services.

VI. Paperwork Reduction Act 

In accordance with the Paperwork 

Reduction Act of 1995 (44 U.S.C. ch. 

3506; 5 CFR 1320 Appendix A.1), the 

Board has reviewed the proposal under 

the authority delegated to the Board by 

the Office of Management and Budget. 

No collections of information pursuant 

to the Paperwork Reduction Act are 

contained in the proposal.

By order of the Board of Governors of the 

Federal Reserve System, October 14, 2004. 

Jennifer J. Johnson, 

Secretary of the Board.

[FR Doc. 04–23378 Filed 10–18–04; 8:45 am] 

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DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

National Institutes of Health 

National Eye Institute; Notice of Closed 

Meeting 

Pursuant to section 10(d) of the 

Federal Advisory Committee Act, as 

amended (5 U.S.C. Appendix 2), notice 

is hereby given of the following 

meeting. 

The meeting will be closed to the 

public in accordance with the 

provisions set forth in sections 

552b(c)(4) and 552b(c)(6), Title 5 U.S.C., 

as amended. The grant applications and 

the discussions could disclose 

confidential trade secrets or commercial 

property such as patentable material, 

and personal information concerning 

individuals associated with the grant 

applications, the disclosure of which 

would constitute a clearly unwarranted 

invasion of personal privacy.

Name of Committee: National Eye Institute 

Special Emphasis Panel, Core (P30) and 

Infrastructure (R24) Grant Applications. 

Date: November 10, 2004. 

Time: 8:30 a.m. to 5 p.m. 

Agenda: To review and evaluate grant 

applications. 

Place: Bethesda Marriott Suites, 6711 

Democracy Boulevard, Bethesda, MD 20817. 

Contact Person: Anne E Schaffner, PhD, 

Scientific Review Administrator, Division of 

Extramural Research, National Eye Institute, 

5635 Fishers Lane, Suite 1300, MSC 9300, 

Bethesda, MD 20892–9300, (301) 451–2020, 

aes@nei.nih.gov.

(Catalogue of Federal Domestic Assistance 

Program Nos. 93.867, Vision Research, 

National Institutes of Health, HHS)

Dated: October 12, 2004. 

LaVerne Y. Stringfield, 

Director, Office of Federal Advisory 

Committee Policy.

[FR Doc. 04–23336 Filed 10–18–04; 8:45 am] 

BILLING CODE 4140–01–M

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

National Institutes of Health 

National Eye Institute; Notice of Closed 

Meeting 

Pursuant to section 10(d) of the 

Federal Advisory Committee Act, as 

amended (5 U.S.C. Appendix 2), notice 

is hereby given of the following 

meeting. 

The meeting will be closed to the 

public in accordance with the 

provisions set forth in sections 

552b(c)(4) and 552b(c)(6), Title 5 U.S.C., 

as amended. The grant applications and 

the discussions could disclose 

confidential trade secrets or commercial 

property such as patentable material, 

and personal information concerning 

individuals associated with the grant 

applications, the disclosure of which 

would constitute a clearly unwarranted 

invasion of personal privacy.

Name of Committee: National Eye Institute 

Special Emphasis Panel, Career development 

award applications. 

Date: November 1, 2004. 

Time: 11:30 a.m. to 1:30 p.m. 

Agenda: To review and evaluate grant 

applications. 

Place: National Eye Institute, Division of 

Extramural Research, 5635 Fishers Lane, 

Bethesda, MD 20892. 

Contact Person: Anne E. Schaffner, PhD, 

Scientific Review Administrator, Division of 

Extramural Research, National Eye Institute, 

5635 Fishers Lane, Suite 1300, MSC 9300, 

Bethesda, MD 20892–9300, (301) 451–2020, 

aes@nei.nih.gov.

(Catalogue of Federal Domestic Assistance 

Program Nos. 93.867, Vision Research, 

National Institutes of Health, HHS)

Dated: October 12, 2004. 

LaVerne Y. Stringfield, 

Director, Office of Federal Advisory 

Committee Policy.

[FR Doc. 04–23337 Filed 10–18–04; 8:45 am] 

BILLING CODE 4140–01–M