40478 Federal Register / Vol. 74, No. 154 / Wednesday, August 12, 2009 / Rules and Regulations 

percentage change in the Consumer 

Price Index (CPI) that was reported on 

the preceding June 1. 15 U.S.C. 

1602(aa)(3) and 12 CFR 226.32(a)(1)(ii). 

The Board adjusted the $400 amount to 

$583 for the year 2009. 

The Bureau of Labor Statistics 

publishes consumer-based indices 

monthly, but does not report a CPI 

change on June 1; adjustments are 

reported in the middle of each month. 

The Board uses the CPI–U index, which 

is based on all urban consumers and 

represents approximately 87 percent of 

the U.S. population, as the index for 

adjusting the $400 dollar figure. The 

adjustment to the CPI–U index reported 

by the Bureau of Labor Statistics on May 

15, 2009 was the CPI–U index in effect 

on June 1, and reflects the percentage 

change from April 2008 to April 2009. 

The adjustment to the $400 figure below 

reflects a 0.74 percent decrease in the 

CPI–U index for this period and is 

rounded to whole dollars for ease of 

compliance. 

The fee trigger being adjusted in this 

Federal Register notice pursuant to 

TILA section 103(aa) is used in 

determining whether a loan is covered 

by section 226.32 of Regulation Z. Such 

loans have generally been known as 

‘‘HOEPA loans.’’ In July 2008, the Board 

revised Regulation Z to adopt additional 

protections for ‘‘higher-priced’’ loans, 

using its authority under TILA section 

129(l)(2). Those revisions define a class 

of dwelling-secured transactions, 

described in section 226.35 of 

Regulation Z, using a threshold based 

on average market rates that the Board 

publishes on a regular basis. The 

adjustment published today does not 

affect the triggers issued in July 2008 for 

higher-priced loans. 

II. Adjustment and Commentary 

Revision 

Effective January 1, 2010, for purposes 

of determining whether a home 

mortgage transaction is covered by 12 

CFR 226.32 (based on the total points 

and fees payable by the consumer at or 

before loan consummation), a loan is 

covered if the points and fees exceed the 

greater of $579 or 8 percent of the total 

loan amount. Comment 32(a)(1)(ii)–2, 

which lists the adjustments for each 

year, is amended to reflect the dollar 

adjustment for 2010. Because the timing 

and method of the adjustment is set by 

statute, the Board finds that notice and 

public comment on the change are 

unnecessary. 

III. Regulatory Flexibility Analysis 

The Board certifies that this 

amendment to Regulation Z will not 

have a significant economic impact on 

a substantial number of small entities. 

The only change is to lower the 

threshold for transactions requiring 

HOEPA disclosures. This change is 

mandated by statute. 

List of Subjects in 12 CFR Part 226 

Advertising, Federal Reserve System, 

Mortgages, Reporting and recordkeeping 

requirements, Truth in lending. 

■ For the reasons set forth in the 

preamble, the Board amends Regulation 

Z, 12 CFR part 226, as set forth below: 

PART 226—TRUTH IN LENDING 

(REGULATION Z) 

■ 1. The authority citation for part 226 

continues to read as follows: 

Authority: 12 U.S.C. 3806; 15 U.S.C. 1604 

and 1637(c)(5). 

■ 2. In Supplement I to Part 226, under 

Section 226.32—Requirements for 

Certain Closed-End Home Mortgages, 

under Paragraph 32(a)(1)(ii), paragraph 

2. xv. is added. 

Supplement I to Part 226—Official Staff 

Interpretations 

* * * * * 

Subpart E—Special Rules for Certain 

Home Mortgage Transactions 

* * * * * 

Section 226.32—Requirements for 

Certain Closed-End Home Mortgages 

32(a) Coverage 

* * * * * 

Paragraph 32(a)(1)(ii) 

* * * * * 

2. Annual adjustment of $400 amount. 

* * * * * 

xv. For 2010, $579, reflecting a 0.74 

percent decrease in the CPI–U from June 

2008 to June 2009, rounded to the nearest 

whole dollar. 

* * * * * 

By order of the Board of Governors of the 

Federal Reserve System, acting through the 

Director of the Division of Consumer and 

Community Affairs under delegated 

authority, August 6, 2009. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E9–19254 Filed 8–11–09; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Parts 308 and 363 

RIN 3064–AD21 

Annual Independent Audits and 

Reporting Requirements 

AGENCY: Federal Deposit Insurance 

Corporation (FDIC). 

ACTION: Final rule; correction. 

SUMMARY: On July 20, 2009, the FDIC 

published in the Federal Register a final 

rule amending part 363 of its regulations 

concerning annual independent audits 

and reporting requirements for certain 

insured depository institutions, which 

implements section 36 of the Federal 

Deposit Insurance Act (FDI Act), largely 

as proposed, but with certain 

modifications made in response to the 

comments received and making a 

technical amendment to its rules and 

procedures (part 308, subpart U) for the 

removal, suspension, or debarment of 

accountants and accounting firms. The 

publication of the final rule corrected 

certain errors in the original publication 

of the final rule, which had been 

published in the Federal Register on 

July 7, 2009. It has come to the attention 

of the FDIC that the July 20 republication included one additional 

error. This correction will rectify that 

oversight. 

DATES: Effective Date: This correction is 

effective August 6, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Harrison E. Greene, Jr., Senior Policy 

Analyst (Bank Accounting), Division of 

Supervision and Consumer Protection, 

at hgreene@fdic.gov or (202) 898–8905; 

or Michelle Borzillo, Senior Counsel, 

Corporate and Legal Operations Section, 

Legal Division, at mborzillo@fdic.gov or 

(202) 898–7400. 

SUPPLEMENTARY INFORMATION: On July 

20, 2009, the FDIC published in the 

Federal Register a final rule amending 

part 363 of its regulations concerning 

annual independent audits and 

reporting requirements for certain 

insured depository institutions, which 

implements section 36 of the Federal 

Deposit Insurance Act (FDI Act), largely 

as proposed, but with certain 

modifications made in response to the 

comments received and making a 

technical amendment to its rules and 

procedures (part 308, subpart U) for the 

removal, suspension, or debarment of 

accountants and accounting firms. The 

July 20, 2009, publication of the final 

rule corrected certain errors in the 

original publication of the final rule, 

which had been published in the 


jlentini on DSKJ8SOYB1PROD with RULES
Federal Register / Vol. 74, No. 154 / Wednesday, August 12, 2009 / Rules and Regulations 40479 

Federal Register on July 7, 2009. It has 

come to the attention of the FDIC that 

the July 20 re-publication failed to 

include one further correction. This 

publication will rectify that oversight. 

The correction included in this 

Federal Register document corrects an 

error in the prior publication which 

caused an apparent inconsistency in the 

effective date. 

In the the final rule, FR Doc. No. 

2009–17009 published on July 20, 2009 

(74 FR 35726), make the following 

correction: 

On page 35744, the first sentence of 

the V. Effective and Compliance Dates 

section is corrected to read: 

Except as noted below, the final rule 

is effective August 6, 2009. 

Federal Deposit Insurance Corporation. 

Valerie J. Best, 

Assistant Executive Secretary. 

[FR Doc. E9–19259 Filed 8–11–09; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 25 

[Docket No. NM400; Special Conditions No. 

25–388–SC] 

Special Conditions: Boeing Model 747– 

8/–8F Airplanes; Interaction of 

Systems and Structures 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final special conditions. 

SUMMARY: These special conditions are 

issued for the Boeing Model 747–8/–8F 

airplanes. These airplanes will have a 

novel or unusual design feature(s) that 

will affect structural performance. The 

applicable airworthiness regulations do 

not contain adequate or appropriate 

safety standards for this design feature. 

These special conditions contain the 

additional safety standards that the 

Administrator considers necessary to 

establish a level of safety equivalent to 

that established by the existing 

airworthiness standards. 

DATES: Effective Date: September 11, 

2009. 

FOR FURTHER INFORMATION CONTACT: 

Mark Freisthler, FAA, Airframe & Cabin 

Safety Branch, ANM–115, Transport 

Airplane Directorate, Aircraft 

Certification Service, 1601 Lind 

Avenue, SW., Renton, Washington 

98057–3356; telephone (425) 227–1119; 

facsimile (425) 227–1149. 

SUPPLEMENTARY INFORMATION: 

Background 

On November 4, 2005, The Boeing 

Company, PO Box 3707, Seattle, WA 

98124, applied for an amendment to 

Type Certificate Number A20WE to 

include the new Model 747–8 passenger 

airplane and the new Model 747–8F 

freighter airplane. The Model 747–8 and 

the Model 747–8F are derivatives of the 

747–400 and the 747–400F, 

respectively. Both the Model 747–8 and 

the Model 747–8F are four-engine jet 

transport airplanes that will have a 

maximum takeoff weight of 970,000 

pounds and new General Electric GEnx– 

2B67 engines. The Model 747–8 will 

have two flight crew and the capacity to 

carry 660 passengers. The Model 747– 

8F will have two flight crew and a zero 

passenger capacity, although Boeing has 

submitted a petition for exemption to 

allow the carriage of supernumeraries. 

Type Certification Basis 

Under the provisions of Title 14 Code 

of Federal Regulations (14 CFR) 21.101, 

Boeing must show that the Model 747– 

8 and 747–8F airplanes (hereafter 

referred to as the 747–8/–8F) as 

changed, continue to meet the 

applicable provisions of 14 CFR part 25, 

as amended by Amendments 25–1 

through 25–117, except for earlier 

amendments as agreed upon by the 

FAA. These regulations will be 

incorporated into Type Certificate No. 

A20WE after type certification approval 

of the 747–8/–8F. 

If the Administrator finds that the 

applicable airworthiness regulations 

(i.e., part 25) do not contain adequate or 

appropriate safety standards for the 

747–8/–8F because of a novel or 

unusual design feature, special 

conditions are prescribed under the 

provisions of § 21.16. 

In addition to the applicable 

airworthiness regulations and special 

conditions, the 747–8/–8F must comply 

with the fuel vent and exhaust emission 

requirements of 14 CFR part 34 and the 

noise certification requirements of 14 

CFR part 36. 

Special conditions, as defined in 

§ 11.19, are issued under § 11.38, and 

become part of the type certification 

basis under § 21.101. 

Special conditions are initially 

applicable to the model for which they 

are issued. Should the type certificate 

for that model be amended later to 

include any other model that 

incorporates the same novel or unusual 

design feature, or should any other 

model already included on the same 

type certificate be modified to 

incorporate the same novel or unusual 

design feature, the special conditions 

would also apply to the other model 

under § 21.101. 

Novel or Unusual Design Features 

The Boeing Model 747–8/–8F is 

equipped with systems that affect the 

airplane’s structural performance, either 

directly or as a result of failure or 

malfunction. That is, the airplane’s 

systems affect how it responds in 

maneuver and gust conditions, and 

thereby affect its structural capability. 

These systems may also affect the 

aeroelastic stability of the airplane. 

Such systems represent a novel and 

unusual feature when compared to the 

technology envisioned in the current 

airworthiness standards. A special 

condition is needed to require 

consideration of the effects of systems 

on the structural capability and 

aeroelastic stability of the airplane, both 

in the normal and in the failed state. 

These special conditions require that 

the airplane meet the structural 

requirements of subparts C and D of 14 

CFR part 25 when the airplane systems 

are fully operative. These special 

conditions also require that the airplane 

meet these requirements considering 

failure conditions. In some cases, 

reduced margins are allowed for failure 

conditions based on system reliability. 

Discussion of Comments 

Notice of proposed special conditions 

No. 25–09–03–SC for the Boeing Model 

747–8 and 747–8F airplanes was 

published in the Federal Register on 

April 8, 2009 (74 FR 15888). No 

comments were received and the special 

conditions are adopted as proposed. 

Applicability 

As discussed above, these special 

conditions are applicable to Boeing 

Model 747–8/–8F airplanes. Should 

Boeing apply at a later date for a change 

to the type certificate to include another 

model incorporating the same novel or 

unusual design features, the special 

conditions would apply to that model as 

well. 

Conclusion 

This action affects only certain novel 

or unusual design features of the Boeing 

Model 747–8/–8F airplanes. It is not a 

rule of general applicability. 

List of Subjects in 14 CFR Part 25 

Aircraft, Aviation safety, Reporting 

and recordkeeping requirements. 

The authority citation for these 

special conditions is as follows: 

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

44702, 44704. 


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