Federal Register / Vol. 74, No. 19 / Friday, January 30, 2009 / Proposed Rules 5631 

Section 204.10(e)(3) 

Proposed section 204.10(e)(3) 

specifies that balances maintained in an 

EBA must consist solely of excess 

balances of EBA Participants, and that 

such balances will not satisfy any 

institution’s required reserve balance or 

contractual clearing balance. 

Section 204.10(e)(4) 

Proposed section 204.10(e)(4) 

specifies that an EBA is for the 

exclusive purpose of maintaining EBA 

Participants’ excess balances and is not 

be used for general payments or other 

activities. 

Section 204.10(e)(5) 

Proposed section 204.10(e)(5) 

provides that balances in an EBA would 

earn interest at the rate specified for 

‘‘excess balances’’ in current section 

204.10(b)(2) of Regulation D. 

VI. Form of Comment Letters 

Comment letters should refer to 

Docket No. R–1350 and, when possible, 

should use a standard typeface with a 

font size of 10 or 12; this will enable the 

Board to convert text submitted in paper 

form to machine-readable form through 

electronic scanning, and will facilitate 

automated retrieval of comments for 

review. Comments may be mailed 

electronically to 

regs.comments@federalreserve.gov. 

VII. Solicitation of Comments 

Regarding Use of ‘‘Plain Language’’ 

Section 722 of the Gramm-LeachBliley Act of 1999 (12 U.S.C. 4809) 

requires the Board to use ‘‘plain 

language’’ in all proposed and final 

rules published after January 1, 2000. 

The Board invites comments on whether 

the interim final rule is clearly stated 

and effectively organized, and how the 

Board might make the text of the rule 

easier to understand. 

VIII. Regulatory Flexibility Act 

The Regulatory Flexibility Act, 5 

U.S.C. 601 et seq. (RFA), requires an 

agency that is issuing a proposed rule to 

prepare and make available an initial 

regulatory flexibility analysis that 

describes the impact of the final rule on 

small entities. 5 U.S.C. 603(a). The RFA 

provides that an agency is not required 

to prepare and publish a regulatory 

flexibility analysis if the agency certifies 

that the final rule will not have a 

significant economic impact on a 

substantial number of small entities. 

Pursuant to section 605(b) of the RFA, 

the Board certifies that this interim final 

rule will not have a significant adverse 

economic impact on a substantial 

number of small entities. The proposed 

rule would permit, but does not require, 

institutions to establish EBAs at Reserve 

Banks. The impact on institutions 

choosing to establish EBAs at Reserve 

Banks would be positive and not 

adverse, because EBA Participants 

would be able to earn the rate payable 

on excess balances in a debtor-creditor 

relationship directly with a Reserve 

Bank without disrupting established 

correspondent-respondent relationships. 

Likewise, the impact would be positive 

and not adverse on institutions that 

choose to establish EBAs but are not 

currently in a correspondent-respondent 

relationship, as such institutions would 

be expected to establish EBAs only to 

the extent that EBA Agents and EBA 

Participants found it mutually beneficial 

to do so. 

IX. Paperwork Reduction Act 

In accordance with the Paperwork 

Reduction Act (PRA) of 1995 (44 U.S.C. 

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

Board reviewed the proposed rule under 

the authority delegated to the Board by 

the Office of Management and Budget 

(OMB). The proposed rule contains no 

requirements subject to the PRA. 

List of Subjects in 12 CFR Part 204 

Banks, banking, Reporting and 

recordkeeping requirements. 

Authority and Issuance 

For the reasons set forth in the 

preamble, the Board is proposing to 

amend 12 CFR part 204 as follows: 

PART 204—RESERVE 

REQUIREMENTS OF DEPOSITORY 

INSTITUTIONS (REGULATION D) 

1. The authority citation for part 204 

continues to read as follows: 

Authority: 12 U.S.C. 248(a), 248(c), 371a, 

461, 601, 611, and 6105. 

2. Section 204.10 is amended by 

adding new paragraphs (d)(6) and (e) to 

read as follows: 

§ 204.10 Payment of interest on balances. 

* * * * * 

(d) * * * 

(6) Excess balance account means an 

account at a Reserve Bank pursuant to 

§ 204.10(e) of this part that is 

established by one or more eligible 

institutions and in which only excess 

balances of the participating eligible 

institutions may at any time be 

maintained. An excess balance account 

is not a ‘‘pass-through account’’ for 

purposes of this part. 

(e) Excess balance accounts. (1) 

Establishing an excess balance account. 

A Reserve Bank may establish an excess 

balance account for eligible institutions 

under the provisions of this paragraph. 

Notwithstanding any other provisions of 

this part, the excess balances of eligible 

institutions in an excess balance 

account are the property of the eligible 

institutions that participate in the 

account, and represent a liability of the 

Reserve Bank solely to those 

participating eligible institutions. 

(2) The participating eligible 

institutions in an excess balance 

account shall authorize another 

institution to act as agent of the eligible 

institutions for purposes of general 

account management, including but not 

limited to transferring the excess 

balances of participating institutions in 

and out of the excess balance account. 

The agent must maintain its own 

separate account at a Reserve Bank 

unless otherwise determined by the 

Board. The agent may not commingle its 

own funds in the excess balance 

account. 

(3) No reserve balances or clearing 

balances of any institution may be 

maintained at any time in an excess 

balance account, and balances 

maintained in an excess balance 

account will not satisfy any institution’s 

required reserve balance or contractual 

clearing balance. 

(4) An excess balance account may be 

used exclusively for the purpose of 

maintaining the excess balances of 

participants and may not be used for 

general payments or other activities. 

(5) Interest shall be paid on excess 

balances of eligible institutions 

maintained in an excess balance 

account in accordance with 

§ 204.10(b)(2) of this part. 

By order of the Board of Governors of the 

Federal Reserve System, January 25, 2009. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E9–1996 Filed 1–29–09; 8:45 am] 

BILLING CODE 6210–01–P 

DEPARTMENT OF THE INTERIOR 

National Park Service 

36 CFR Part 7 

Negotiated Rulemaking Advisory 

Committee for Off-Road Vehicle 

Management for Cape Hatteras 

National Seashore 

AGENCY: National Park Service (NPS), 

Interior. 

ACTION: Notice of Thirteenth Meeting. 

SUMMARY: Notice is hereby given, in 

accordance with the Federal Advisory 

Committee Act (Pub. L. 92–463, 86 Stat. 

770, 5 U.S.C. App 1, section 10), of the 


erowe on PROD1PC63 with PROPOSALS-1
5632 Federal Register / Vol. 74, No. 19 / Friday, January 30, 2009 / Proposed Rules 

thirteenth meeting of the Negotiated 

Rulemaking Advisory Committee for 

Off-Road Vehicle Management at Cape 

Hatteras National Seashore. 

DATES: The Committee will hold its 

thirteenth meeting on February 26–27, 

2009, from 8:30 a.m. to 10 p.m. both 

days, if needed. The meeting will be 

held at the Wright Brothers National 

Memorial Pavilion, 1000 Croatan 

Highway (Milepost 7.6), Kill Devil Hills, 

North Carolina 25948. 

These, and any subsequent meetings, 

will be held for the following reason: To 

work with the National Park Service to 

assist in potentially developing special 

regulations for off-road vehicle (ORV) 

management at Cape Hatteras National 

Seashore (Seashore). 

The proposed agenda for the 

thirteenth meeting of the Committee 

may contain the following items: 

Approval of Meeting Summary from 

Last Meeting, Subcommittee and 

Members’ Updates since Last Meeting, 

Alternatives Discussions, NEPA Update, 

and Public Comment. However, the 

Committee may modify its agenda 

during the course of its work. The 

meetings are open to the public. 

Interested persons may provide brief 

oral/written comments to the Committee 

during the public comment period of 

the meetings each day before the lunch 

break or may file written comments 

with the Park Superintendent. 

FOR FURTHER INFORMATION CONTACT: 

Michael B. Murray, Superintendent, 

Cape Hatteras National Seashore, 1401 

National Park Drive, Manteo, North 

Carolina 27954, (252) 473–2111, ext. 

148. 

SUPPLEMENTARY INFORMATION: The 

Committee’s function is to assist 

directly in the development of special 

regulations for management of ORVs at 

the Seashore. Executive Order 11644, as 

amended by Executive Order 11989, 

requires certain Federal agencies to 

publish regulations that provide for 

administrative designation of the 

specific areas and trails on which ORV 

use may be permitted. In response, the 

NPS published a general regulation at 

36 CFR 4.10, which provides that each 

park that designates routes and areas for 

ORV use must do so by promulgating a 

special regulation specific to that park. 

It also provides that the designation of 

routes and areas shall comply with 

Executive Order 11644, and 36 CFR 1.5 

regarding closures. Members of the 

Committee will negotiate to reach 

consensus on concepts and language to 

be used as the basis for a proposed 

special regulation, to be published by 

the NPS in the Federal Register, 

governing ORV use at the Seashore. The 

duties of the Committee are solely 

advisory. 

Dated: January 13, 2009. 

Michael B. Murray, 

Superintendent, Cape Hatteras National 

Seashore. 

[FR Doc. E9–2043 Filed 1–29–09; 8:45 am] 

BILLING CODE 4310–70–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Chapter I 

[EPA–HQ–OPPT–2008–0627; FRL–8401–3] 

RIN 2070–AJ44 

Formaldehyde Emissions from 

Pressed Wood Products; Extension of 

Comment Period and Notice of Sixth 

Public Meeting 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Advance notice of proposed 

rulemaking; extension of comment 

period. 

SUMMARY: EPA issued an advanced 

notice of proposed rulemaking (ANPR) 

in the Federal Register of December 3, 

2008, describing EPA’s initial steps to 

investigate and request comment, 

information, and data relating to 

formaldehyde emissions from pressed 

wood products. The ANPR also 

announced five public meetings that 

EPA scheduled in order to obtain 

additional stakeholder input. EPA is 

announcing today one additional public 

meeting to enable more complete public 

participation. Additionally, this 

document extends the comment period 

for 45 days, from February 2, 2009, to 

March 19, 2009. This extension is 

necessary to provide the public with an 

opportunity to provide additional and 

more thorough comments to the docket. 

DATES: Comments, identified by docket 

identification (ID) number EPA–HQ– 

OPPT–2008–0627, must be received on 

or before March 19, 2009. 

The meeting will be held on March 4, 

2009, from 1 p.m. until the last speaker 

has spoken or to 5 p.m. 

ADDRESSES: Follow the detailed 

instructions as provided under 

ADDRESSES in the Federal Register 

document of December 3, 2008, for the 

submission of comments. 

The meeting will be held at the 

Sheraton New Orleans Hotel, 500 Canal 

St., New Orleans, LA. 

FOR FURTHER INFORMATION CONTACT: For 

general information contact: Colby 

Lintner, Regulatory Coordinator, 

Environmental Assistance Division 

(7408M), Office of Pollution Prevention 

and Toxics, Environmental Protection 

Agency, 1200 Pennsylvania Ave., NW., 

Washington, DC 20460–0001; telephone 

number: (202) 554–1404; e-mail address: 

TSCA-Hotline@epa.gov. 

For technical information contact: 

Cindy Wheeler, National Program 

Chemicals Division (7404T), Office of 

Pollution Prevention and Toxics, 

Environmental Protection Agency, 1200 

Pennsylvania Ave., NW., Washington, 

DC 20460–0001; telephone number: 

(202) 566–0484; e-mail address: 

wheeler.cindy@epa.gov. 

SUPPLEMENTARY INFORMATION: This 

document extends the public comment 

period established in the Federal 

Register of December 3, 2008 (73 FR 

73620) (FRL–8386–3). In that document, 

EPA announced its plans to begin its 

investigation of formaldehyde emissions 

from pressed wood products and the 

Agency’s intention to involve 

stakeholders in gathering information to 

better inform EPA’s decision making 

process. EPA also planned 5 half-day 

public meetings in January of 2009. The 

purpose of these meetings was to 

receive stakeholder comments on the 

issue of formaldehyde emissions from 

pressed wood products, including the 

questions described in the December 3, 

2008 Federal Register document, and 

on future opportunities for public 

participation on this issue. To enable 

more complete public participation EPA 

is also adding an additional public 

meeting in New Orleans, LA, on March 

4, 2009, from 1 p.m. until the last 

speaker has spoken or to 5 p.m. in the 

Sheraton New Orleans Hotel, 500 Canal 

St. Additionally, EPA is hereby 

extending the comment period, which 

was set to end on February 2, 2009, to 

March 19, 2009. 

To submit comments, or access the 

public docket, please follow the detailed 

instructions as provided under 

ADDRESSES in the December 3, 2008 

Federal Register document. If you have 

questions, consult the technical person 

listed under FOR FURTHER INFORMATION

CONTACT. 

List of Subjects 

Environmental protection, Housing, 

Toxic substances, Wood. 

Dated: January 26, 2009. 

James Jones, 

Acting Assistant Administrator, Office of 

Pesticides, Prevention and Toxic Substances. 

[FR Doc. E9–2030 Filed 1–27–09; 4:15 pm] 

BILLING CODE 6560–50–S 


erowe on PROD1PC63 with PROPOSALS-1