40864 Federal Register / Vol. 74, No. 155 / Thursday, August 13, 2009 / Notices 

13 17 CFR 200.30–3(a)(12). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–19407 Filed 8–12–09; 8:45 am] 

BILLING CODE 8010–01–P 

OFFICE OF THE UNITED STATES 

TRADE REPRESENTATIVE 

[Docket No. USTR–2009–0022] 

Implementation of the U.S.-EC Beef 

Hormones Memorandum of 

Understanding 

AGENCY: Office of the United States 

Trade Representative. 

ACTION: Notice, delay of action, and 

request for comments. 

SUMMARY: On May 13, 2009, the United 

States and the European Communities 

(‘‘EC’’) announced the signing of a 

Memorandum of Understanding (MOU) 

in the Beef Hormones dispute. Under 

the first phase of the agreement, the EC 

is obligated to open a new beef tariffrate quota (TRQ) in the amount of 

20,000 metric tons at zero rate of duty. 

The United States in turn is obligated 

not to increase additional duties above 

those in effect as of March 23, 2009. The 

EC opened the new beef TRQ on August 

1, 2009. This notice undertakes the 

process necessary to implement U.S. 

obligations under the first phase of the 

MOU and to pursue additional market 

access under subsequent phases of the 

MOU. 

DATES: Effective Date: A modified list of 

products subject to additional duties in 

connection with the Beef Hormones 

dispute (announced on January 15, 

2009) had been scheduled to be effective 

with respect to products that are 

entered, or withdrawn from warehouse, 

for consumption on or after August 15, 

2009. In order to meet U.S. obligations 

under the MOU, the United States Trade 

Representative (‘‘Trade Representative’’) 

has now changed this effective date to 

September 19, 2009. Moreover, as 

explained below, the Trade 

Representative will take additional steps 

before that time in order to continue to 

implement U.S. obligations under the 

MOU. 

FOR FURTHER INFORMATION CONTACT: 

Roger Wentzel, Director, Agricultural 

Affairs, (202) 395–6127 or David 

Weiner, Director for the European 

Union, (202) 395–4620 for questions 

concerning the EC–Beef Hormones 

dispute; or William Busis, Associate 

General Counsel and Chair of the 

Section 301 Committee, (202) 395–3150, 

for questions concerning procedures 

under Section 301. 

SUPPLEMENTARY INFORMATION: 

A. Background 

On January 15, 2009, the Trade 

Representative announced 

modifications (‘‘January 15 

modifications’’) to the action taken in 

July 1999 in connection with the World 

Trade Organization (‘‘WTO’’) 

authorization of the United States in the 

EC–Beef Hormones dispute to suspend 

concessions and related obligations with 

respect to the European Communities 

(‘‘EC’’). See 74 FR 4265 (Jan. 23, 2009). 

The January 15 modifications initially 

had an effective date of March 23, 2009. 

The Trade Representative subsequently 

delayed the effective date of the 

additional duties imposed under the 

January 15 modifications to April 23, 

2009; to May 9, 2009; and then to 

August 15, 2009. The effective date of 

the removal of duties under the January 

15 modifications remained March 23, 

2009. See 74 FR 11613 (March 18, 

2009); 74 FR 12402 (March 24, 2009); 74 

FR 19263 (April 28, 2009). As a result 

of removal of duties on March 23, 2009, 

a reduced list of products subject to 

additional duties (at a rate of 100 

percent ad valorem) has been in place 

since that time. This reduced list is set 

out in the Annex to this notice. Under 

the first phase of the MOU, the United 

States maintains the right to impose 

these additional duties, and is obligated 

not to impose additional duties on any 

other products in connection with the 

EC–Beef Hormones WTO dispute. 

The first phase of the MOU concludes 

on August 3, 2012. Under a possible 

second phase of the MOU, the EC would 

expand the beef TRQ to 45,000 metric 

tons, and the United States would 

suspend all of the additional duties 

imposed in connection with the EC– 

Beef Hormones WTO dispute. 

For additional background concerning 

the EC–Beef Hormones WTO dispute; 

the January 15 modifications; and the 

prior delays in the effective date of the 

modifications, see 73 FR 66066 (Nov. 6, 

2008); 74 FR 4265 (Jan. 23, 2009), 74 FR 

11613 (March 18, 2009), 74 FR 12402 

(March 24, 2009), 74 FR 19263 (April 

28, 2009), and 74 FR 22626 (May 13, 

2009). Further information on the May 

13, 2009 U.S.-EC MOU may be found on 

USTR=s Web site, http://www.ustr.gov. 

B. Delay of Action 

Pursuant to Section 305 of the Trade 

Act of 1974, the Trade Representative 

has determined that a further delay in 

implementation of the January 15 

modifications would be desirable to 

obtain a satisfactory solution with 

respect to the EC’s ban on U.S. beef. 

Accordingly, the Trade Representative 

has decided to delay the effective date 

of the additional duties imposed under 

the January 15 modifications from 

August 15, 2009 to September 19, 2009. 

The actions to be delayed are: (i) The 

imposition of increased duties on 

additional products, (ii) the application 

to products of additional EC member 

States of the increased duties on 

currently covered products, and (iii) the 

increase in the level of duties on one of 

the products that is being maintained on 

the product list. These are the same 

actions that were previously delayed 

until August 15, 2009. 

The increased duties under the 

January 15 modifications are set out in 

Annex II of the notice published at 74 

FR 12402 (March 24, 2009), as modified 

by the notice published at 74 FR 19263 

(April 28, 2009). In order to delay the 

effective date of the increased duties 

until September 19, 2009, the Trade 

Representative has decided that the 

modifications to the Harmonized Tariff 

Schedule of the United States that are 

contained in Parts A and B of Annex II 

shall be effective with respect to articles 

entered, or withdrawn from warehouse 

for consumption, on or after September 

19, 2009. As explained below, however, 

further steps are contemplated before 

that time. In addition, any merchandise 

covered under Part B of Annex II of the 

notice published at 74 FR 12402 that is 

admitted to a U.S. foreign-trade zone on 

or after September 19, 2009 must be 

admitted in ‘‘privileged foreign status’’ 

as defined in 19 CFR 146.41. Questions 

concerning customs matters may be 

directed to Renee Chovanec, 

International Coordination, Office of 

International Trade, U.S. Customs and 

Border Protection, (202) 863–6384. 

C. Opportunity for Public Comments 

Prior to September 19, 2009, the 

Trade Representative intends to take 

further steps under the Trade Act to 

implement U.S. obligations under the 

first phase of the MOU and to pursue 

additional market access under 

subsequent phases of the MOU. The 

Section 301 Committee seeks comments 

on these matters, including with regard 

to the imposition of 100 percent duties 

on the products currently subject to 

such duties throughout the remainder of 

the first phase of the MOU. (The list of 

products currently subject to 100 

percent duties in connection with EC– 

Beef Hormones WTO dispute is set out 

in the Annex to this notice.) As noted 

above, the United States maintains the 

right to impose these additional duties 


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Federal Register / Vol. 74, No. 155 / Thursday, August 13, 2009 / Notices 40865 

during the first phase of the MOU, and 

under a possible second phase, the EC 

would expand the beef TRQ to 45,000 

metric tons and the United States in 

turn would suspend all of the additional 

duties imposed in connection with the 

EC–Beef Hormones WTO dispute. 

Any comments should be submitted 

by no later than September 12, 2009. To 

submit comments via http:// 

www.regulations.gov, enter docket 

number USTR–2009–0022 on the home 

page and click ‘‘go’’. The site will 

provide a search-results page listing all 

documents associated with this docket. 

Find a reference to this notice by 

selecting ‘‘Notice’’ under ‘‘Document 

Type’’ on the left side of the searchresults page, and click on the link 

entitled ‘‘Send a Comment or 

Submission.’’ (For further information 

on using the http://www.regulations.gov 

Web site, please consult the resources 

provided on the Web site by clicking on 

‘‘How to Use This Site’’ on the left side 

of the home page.) 

The http://www.regulations.gov site 

provides the option of providing 

comments by filling in a ‘‘General 

Comments’’ field, or by attaching a 

document. Given the detailed nature of 

the comments sought by the Section 301 

Committee, all comments should be 

provided in an attached document. 

Submissions must state clearly the 

position taken and describe with 

specificity the supporting rationale and 

must be written in English. After 

attaching the document, it is sufficient 

to type ‘‘See attached’’ in the ‘‘General 

Comments’’ field. 

Interested persons may request a 

public hearing on these matters. Any 

request for a public hearing should be 

made by no later than August 20, 2009. 

In the event a hearing is to be held, 

USTR will issue a notice specifying the 

date of the hearing and the procedures 

for submitting written testimony. 

Comments will be placed in the 

docket and open to public inspection 

pursuant to 15 CFR 2006.13, except 

confidential business information 

exempt from public inspection in 

accordance with 15 CFR 2006.15 or 

information determined by USTR to be 

confidential in accordance with 19 

U.S.C. 2155(g)(2). Comments may be 

viewed on the http:// 

www.regulations.gov Web site by 

entering docket number USTR–2009– 

0022 in the search field on the home 

page. 

Persons wishing to submit business 

confidential information must certify in 

writing that such information is 

confidential in accordance with 15 CFR 

2006.15(b), and such information must 

be clearly marked ‘‘BUSINESS 

CONFIDENTIAL’’ at the top and bottom 

of the cover page and each succeeding 

page. Any comment containing business 

confidential information must be 

accompanied by a non-confidential 

summary of the confidential 

information. The non-confidential 

summary will be placed in the docket 

and open to public inspection. 

Comments containing business 

confidential information should not be 

submitted via the http:// 

www.regulations.gov Web site. Instead, 

persons wishing to submit comments 

containing business confidential 

information should contact Sandy 

McKinzy at (202) 395–9483. 

Information or advice contained in a 

comment submitted, other than business 

confidential information, may be 

determined by USTR to be confidential 

in accordance with section 135(g)(2) of 

the Trade Act of 1974 (19 U.S.C. 

2155(g)(2)). If the submitter believes that 

information or advice may qualify as 

such, the submitter— 

(1) Must clearly so designate the 

information or advice; 

(2) Must clearly mark the material as 

‘‘SUBMITTED IN CONFIDENCE’’ at the 

top and bottom of the cover page and 

each succeeding page; and 

(3) Must provide a non-confidential 

summary of the information or advice. 

The non-confidential summary will 

be placed in the docket and open to 

public inspection. Comments submitted 

in confidence should not be submitted 

via the http://www.regulations.gov Web 

site. Instead, persons wishing to submit 

such comments should contact Sandy 

McKinzy at (202) 395–9483. 

William Busis, 

Chair, Section 301 Committee. 

BILLING CODE 3190–W9–P 


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Federal Register / Vol. 74, No. 155 / Thursday, August 13, 2009 / Notices 40867 

[FR Doc. E9–19455 Filed 8–12–09; 8:45 am] 

BILLING CODE 3190–W9–C 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

[Docket ID OCC–2009–0009] 

FEDERAL RESERVE SYSTEM 

[Docket No. OP–1362] 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

DEPARTMENT OF THE TREASURY 

Office of Thrift Supervision 

[Docket ID OTS–2009–0011] 

NATIONAL CREDIT UNION 

ADMINISTRATION 

Proposed Interagency Guidance— 

Funding and Liquidity Risk 

Management 

AGENCY: Office of the Comptroller of the 

Currency, Treasury (OCC); Board of 

Governors of the Federal Reserve 

System (Board); Federal Deposit 

Insurance Corporation (FDIC); Office of 

Thrift Supervision, Treasury (OTS); and 

National Credit Union Administration 

(NCUA). 

ACTION: Request for public comment; 

correction. 

SUMMARY: This notice corrects the notice 

published on July 6, 2009 on the 

proposed guidance on funding and 

liquidity risk management. The Federal 

Reserve is correcting the Affected Public 

and Estimated Burden sections of Part 

III (Paperwork Reduction Act) and the 

Office of the Comptroller of the 

Currency, Treasury; Board of Governors 

of the Federal Reserve System; Federal 

Deposit Insurance Corporation; Office of 

Thrift Supervision, Treasury; and 

National Credit Union Administration 

(the agencies) are correcting a footnote 

regarding the definition of ‘‘financial 

institution.’’ 

DATES: Comments must be submitted on 

or before September 4, 2009. 

FOR FURTHER INFORMATION CONTACT: 

James Embersit, Deputy Associate 

Director, Market and Liquidity Risk, 

202–452–5249 or Mary Arnett, 

Supervisory Financial Analyst, Market 

and Liquidity Risk, 202–721–4534 or 

Brendan Burke, Supervisory Financial 

Analyst, Supervisory Policy and 

Guidance, 202–452–2987. 

SUPPLEMENTARY INFORMATION: In the 

Federal Register issue of July 6, 2009 

(74 FR 32035), the agencies, in 

conjunction with the Conference of 

State Bank Supervisors (CSBS), 

requested comment on the proposed 

guidance on funding and liquidity risk 

management (proposed Guidance). The 

proposed Guidance summarizes the 

principles of sound liquidity risk 

management that the agencies have 

issued in the past and, where 

appropriate, brings them into 

conformance with the ‘‘Principles for 

Sound Liquidity Risk Management and 

Supervision’’ issued by the Basel 

Committee on Banking Supervision 

(BCBS) in September 2008. While the 

BCBS liquidity principles primarily 

focuses on large internationally active 

financial institutions, the proposed 

guidance emphasizes supervisory 

expectations for all domestic financial 

institutions including banks, thrifts and 

credit unions. 

The Federal Reserve is correcting the 

Affected Public and Estimated Burden 

sections of Part III (Paperwork 

Reduction Act) to read: 

Affected Public 

FRB: Bank holding companies, state 

member banks, state-licensed branches 

and agencies of foreign banks (other 

than insured branches), and 

corporations organized or operating 

under sections 25 or 25A of the Federal 

Reserve Act (Agreement corporations 

and Edge corporations). 

Estimate of Respondent Burden: 

FRB: Number of respondents: 6,156 

total (29 large (over $100 billion in 

assets); 117 mid-size ($10—$100 

billion); and 6,010 small (less than $10 

billion). 

Burden under Section 14: 720 hours 

per large respondent, 240 hours per 

mid-size respondent, and 80 hours per 

small respondent. 

Burden under Section 20: 4 hours per 

month. 

Total estimated annual burden: 

825,248 hours. 

In addition, the OCC, Board, FDIC, 

OTS, and NCUA are correcting footnote 

4 (74 FR 32038) to read: 

Unless otherwise indicated, this 

interagency guidance uses the term 

‘‘financial institutions’’ or ‘‘institutions’’ 

to include banks, saving associations, 

credit unions, affiliated holding 

companies, state and federally chartered 


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