6296 Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 

to the discount window include Edge 

and agreement corporations, bankers’

banks that are not subject to reserve 

requirements, limited-purpose trust 

companies, government-sponsored 

enterprises (GSEs), and international 

organizations. Depository institutions 

that have been assigned a zero cap by 

their Reserve Banks are also subject to 

special considerations under this policy 

based on the risks they pose. In 

developing its policy for these account 

holders, the Board has sought to balance 

the goal of reducing and managing risk 

in the payments system, including risk 

to the Federal Reserve, with that of 

minimizing the adverse effects on the 

payments operations of these account 

holders.

Regular access to the Federal Reserve 

discount window generally is available 

to institutions that are subject to reserve 

requirements. If an account holder that 

is not subject to reserve requirements 

and thus does not have regular 

discount-window access were to incur a 

daylight overdraft, the Federal Reserve 

might end up extending overnight credit 

to that account holder if the daylight 

overdraft were not covered by the end 

of the business day. Such a credit 

extension would be contrary to the quid 

pro quo of reserves for regular discountwindow access as reflected in the 

Federal Reserve Act and in Board 

regulations. Thus, account holders that 

do not have regular access to the 

discount window should not incur 

daylight overdrafts in their Federal 

Reserve accounts. 

Certain account holders are subject to 

a daylight-overdraft penalty fee levied 

against the average daily daylight 

overdraft incurred by the account 

holder. These include Edge and 

agreement corporations, bankers’ banks 

that are not subject to reserve 

requirements, limited-purpose trust 

companies, GSEs, and international 

organizations. The annual rate used to 

determine the daylight-overdraft penalty 

fee is equal to the annual rate applicable 

to the daylight overdrafts of other 

depository institutions (36 basis points) 

plus 100 basis points multiplied by the 

fraction of a 24-hour day during which 

Fedwire is scheduled to operate 

(currently 18/24). The daily daylight 

overdraft penalty rate is calculated by 

dividing the annual penalty rate by 360.

The daylight-overdraft penalty rate 

applies to the account holder’s average 

daily daylight overdraft in its Federal 

Reserve account. The daylight-overdraft 

penalty rate is charged in lieu of, not in 

addition to, the rate used to calculate 

daylight overdraft fees for depository 

institutions described in section I.B. 

While daylight overdraft fees are 

calculated differently for these account 

holders than for depository institutions, 

overnight overdrafts at Edge and 

agreement corporations, bankers’ banks 

that are not subject to reserve 

requirements, limited-purpose trust 

companies, GSEs, and international 

organizations are priced the same as 

overnight overdrafts at depository 

institutions that have regular access to 

the discount window.

A new heading ‘‘Governmentsponsored enterprises and international 

organizations’’ and text would be added 

to read as follows in Section I.E.4.: 

4. Government-sponsored enterprises 

and international organizations

The Reserve Banks act as fiscal agents 

for certain GSEs and international 

organizations in accordance with 

federal statutes. These entities generally 

have Federal Reserve accounts and 

issue securities over the Fedwire 

Securities Service. The securities of 

these account holders are not 

obligations of, or guaranteed by, the 

United States. Furthermore, these 

account holders are not subject to 

reserve requirements, do not have 

regular discount-window access, and 

should refrain from incurring daylight 

overdrafts and post collateral to cover 

any daylight overdrafts they do incur. 

GSEs and international organizations 

are subject to the same daylightoverdraft penalty rate as other entities 

that do not maintain reserves and do 

not have regular discount-window 

access.

Section I.E.4., under the heading 

‘‘Problem institutions,’’ would be 

renumbered as ‘‘I.E.5.’’

By order of the Board of Governors of the 

Federal Reserve System, February 4, 2004. 

Jennifer J. Johnson, 

Secretary of the Board.

[FR Doc. 04–2797 Filed 2–9–04; 8:45 am] 

BILLING CODE 6210–01–P

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES 

Centers for Disease Control and 

Prevention 

[Program Announcement 04078] 

Providing Technical Assistance 

Support for the Rapid Strengthening of 

Blood Transfusion Services in 

Selected Countries in Africa and the 

Caribbean Under the President’s 

Emergency Plan for AIDS Relief; 

Amendment 

A notice announcing the availability 

of fiscal year (FY) 2004 funds for 

cooperative agreements for Providing 

Technical Assistance Support for the 

Rapid Strengthening of Blood 

Transfusion Services in Selected 

Countries in Africa and the Caribbean 

Under the President’s Emergency Plan 

for AIDS Relief was published in the 

Federal Register on December 1, 2003, 

volume 68, number 230, pages 67181–

67186. The notice is amended as 

follows: 

On page 67183, in the first column 

under ‘‘III.1. Eligible applicants,’’ please 

include a fifth bullet allowing ‘‘For 

profit organizations’’ to apply. 

On page 67185, in the first column 

under ‘‘IV.5. Funding restrictions,’’

please incorporate the following as an 

additional restriction:

In accordance with CFR 45 74.81, no HHS 

funds may be paid as profit to any recipient 

even if the recipient is a commercial 

organization. Profit is any amount in excess 

of allowable direct and indirect costs.

Dated: February 4, 2004. 

Sandra R. Manning, 

Director, Procurement and Grants Office, 

Centers for Disease Control and Prevention.

[FR Doc. 04–2778 Filed 2–9–04; 8:45 am] 

BILLING CODE 4163–18–P

DEPARTMENT OF HEALTH AND 

HUMAN SERVICES

Food and Drug Administration

[FDA 225–03–8002]

Memorandum of Understanding 

Between the Food and Drug 

Administration and Virginia 

Polytechnic Institute and State 

University

AGENCY: Food and Drug Administration, 

HHS.

ACTION: Notice.

SUMMARY: The Food and Drug 

Administration (FDA) is providing 

notice of a memorandum of 

understanding (MOU) between FDA and 

the Virginia Polytechnic Institute and 

State University to establish terms of 

collaboration to support shared interests 

that can proceed through a variety of 

programs, such as sabbaticals, 

postdoctoral fellowships, and student 

internships.

DATES: The agreement became effective 

March 13, 2003.

FOR FURTHER INFORMATION CONTACT:

Peter Pitts, Office of External Relations 

(HF–10), Food and Drug 

Administration, 5600 Fishers Lane, 

Rockville, MD 20857, 301–827–3330.

SUPPLEMENTARY INFORMATION: In 

accordance with 21 CFR 20.108(c), 

which states that all written agreements 

Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 6297

and MOUs between FDA and others 

shall be published in the Federal 

Register, the agency is publishing notice 

of this MOU.

Dated: February 2, 2004.

Jeffrey Shuren,

Assistant Commissioner for Policy.

BILLING CODE 4160–01–S

6298 Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 


EN10FE04.014</GPH>
Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 6299


EN10FE04.015</GPH>
6300 Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 


EN10FE04.016</GPH>
Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 6301


EN10FE04.017</GPH>
6302 Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 


EN10FE04.018</GPH>
Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 6303


EN10FE04.019</GPH>
6304 Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 


EN10FE04.020</GPH>
Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 6305


EN10FE04.021</GPH>
6306 Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 


EN10FE04.022</GPH>
Federal Register / Vol. 69, No. 27 / Tuesday, February 10, 2004 / Notices 6307

[FR Doc. 04–2738 Filed 2–9–04; 8:45 am]

BILLING CODE 4160–01–C


EN10FE04.023</GPH>