Federal Register / Vol. 74, No. 198 / Thursday, October 15, 2009 / Rules and Regulations 52875 

1For purposes of Regulation CC, the term ‘‘bank’’ 

refers to any depository institution, including 

commercial banks, savings institutions, and credit 

unions. 

reserve tranche, the nonexempt deposit 

cutoff level, and the reduced reporting 

limit serve to reduce regulatory burdens 

on depository institutions. Accordingly, 

the Board finds good cause for 

determining, and so determines, that 

notice in accordance with 5 U.S.C. 

553(b) is unnecessary. Consequently, 

the provisions of the Regulatory 

Flexibility Act, 5 U.S.C. 601, do not 

apply to these amendments. 

List of Subjects in 12 CFR Part 204 

Banks, banking, Reporting and 

recordkeeping requirements. 

■ For the reasons set forth in the 

preamble, the Board is amending 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 3105. 

■ 2. Section 204.4(f) is revised to read as 

follows: 

§ 204.4 Computation of required reserves. 

* * * * * 

(f) For all depository institutions, 

Edge and Agreement corporations, and 

United States branches and agencies of 

foreign banks, required reserves are 

computed by applying the reserve 

requirement ratios below to net 

transaction accounts, nonpersonal time 

deposits, and Eurocurrency liabilities of 

the institution during the computation 

period. 

Reservable liability Reserve requirement ratio 

NET TRANSACTION ACCOUNTS: 

$0 to reserve requirement exemption amount ($10.7 million) ....................................................................... 0 percent of amount. 

Over reserve requirement exemption amount ($10.7 million) and up to low reserve tranche ($55.2 million).3 percent of amount. 

Over low reserve tranche ($55.2 million) ....................................................................................................... $1,335,000 plus 10 percent of 

amount over $55.2 million. 

Nonpersonal time deposits ............................................................................................................................. 0 percent. 

Eurocurrency liabilities .................................................................................................................................... 0 percent. 

By order of the Board of Governors of the 

Federal Reserve System, October 9, 2009. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E9–24767 Filed 10–14–09; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

12 CFR Part 229 

[Regulation CC; Docket No. R–1372] 

Availability of Funds and Collection of 

Checks 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Final rule; technical 

amendment. 

SUMMARY: The Board of Governors 

(Board) is amending the routing number 

guide to next-day availability checks 

and local checks in Regulation CC to 

delete the reference to the head office of 

the Federal Reserve Bank of Dallas and 

to reassign the Federal Reserve routing 

symbols currently listed under that 

office to the head office of the Federal 

Reserve Bank of Cleveland. The Board is 

also amending the routing number guide 

to delete the reference to the Los 

Angeles branch office of the Federal 

Reserve Bank of San Francisco and to 

reassign the routing symbols currently 

listed under that office to the head office 

of the Federal Reserve Bank of 

Cleveland. These amendments reflect 

the restructuring of check-processing 

operations within the Federal Reserve 

System. The Board is also providing 

advance notice about anticipated future 

amendments in connection with the 

Reserve Banks’ restructuring such that 

by early next year there will only be a 

single check-processing region for 

purposes of Regulation CC. Accordingly, 

at that time there will no longer be any 

checks that would be considered 

nonlocal. 

DATES: The amendments to appendix A 

to part 229 in amendatory instruction 2 

are effective October 17, 2009. 

The amendments to appendix A to 

part 229 in amendatory instruction 3 are 

effective November 14, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Jeffrey S. H. Yeganeh, Financial Services 

Manager (202/728–5801), or Joseph P. 

Baressi, Financial Services Project 

Leader (202/452–3959), Division of 

Reserve Bank Operations and Payment 

Systems; or Dena L. Milligan, Attorney 

(202/452–3900), Legal Division. For 

users of Telecommunications Devices 

for the Deaf (TDD) only, contact 202/ 

263–4869. 

SUPPLEMENTARY INFORMATION: 

Background 

Regulation CC establishes the 

maximum period a depositary bank may 

wait between receiving a deposit and 

making the deposited funds available 

for withdrawal.1 A depositary bank 

generally must provide faster 

availability for funds deposited by a 

‘‘local check’’ than by a ‘‘nonlocal 

check.’’ A check is considered local if it 

is payable by or at or through a bank 

located in the same Federal Reserve 

check-processing region as the 

depositary bank. 

Appendix A to Regulation CC 

contains a routing number guide that 

assists banks in identifying local and 

nonlocal banks and thereby determining 

the maximum permissible hold periods 

for most deposited checks. The 

appendix includes a list of each Federal 

Reserve check-processing office and the 

first four digits of the routing number, 

known as the Federal Reserve routing 

symbol, of each bank that is served by 

that office for check-processing 

purposes. Banks whose Federal Reserve 

routing symbols are grouped under the 

same office are in the same checkprocessing region and thus are local to 

one another. 

Final Amendments to Appendix A 

On October 17, 2009, the Reserve 

Banks will transfer the check-processing 

operations of the head office of the 

Federal Reserve Bank of Dallas to the 

head office of the Federal Reserve Bank 

of Cleveland. On November 14, 2009, 

the Reserve Banks will transfer the 

check-processing operations of the Los 

Angeles branch office of the Federal 

Reserve Bank of San Francisco to the 

head office of the Federal Reserve Bank 

of Cleveland. As a result of these 

changes, some checks that are drawn on 

and deposited at banks located in the 

Dallas, Los Angeles, and Cleveland 

check-processing regions and that 

currently are nonlocal checks will 


jlentini on DSKJ8SOYB1PROD with RULES
52876 Federal Register / Vol. 74, No. 198 / Thursday, October 15, 2009 / Rules and Regulations 

2Section 229.18(e) of Regulation CC requires that 

banks notify account holders who are consumers 

within 30 days after implementing a change that 

improves the availability of funds. 

3See http://www.frbservices.org/files/ 

communications/pdf/check/ 

110608_restructure_announcement.pdf. 

4See http://www.frbservices.org/files/ 

communications/pdf/check/ 

073109_check_restructure_acceleration.pdf. 

become local checks subject to faster 

availability schedules. To assist banks 

in identifying local and nonlocal checks 

and making funds availability decisions, 

the Board is amending the lists of 

routing symbols in appendix A 

associated with the Federal Reserve 

Banks of Dallas, San Francisco, and 

Cleveland to reflect the transfer of 

check-processing operations from the 

Dallas head office and the Los Angeles 

branch office to the head office of the 

Federal Reserve Bank of Cleveland. To 

coincide with the effective date of the 

underlying check-processing changes, 

the amendments to appendix A are 

effective October 17 and November 14, 

2009, respectively. The Board is 

providing notice of the amendments at 

this time to give affected banks ample 

time to make any needed processing 

changes. Early notice also will enable 

affected banks to amend their 

availability schedules and related 

disclosures if necessary and provide 

their customers with notice of these 

changes.2

Information About Anticipated Future 

Changes to Regulation CC 

The Federal Reserve Banks initially 

announced in November 2008 that 

decreases in check volume necessitated 

transition to a single paper-checkprocessing site in order to comply with 

the cost recovery provisions of the 

Monetary Control Act.3 On July 31, 

2009, the Reserve Banks reaffirmed that 

decreasing check-processing volume 

was likely to necessitate the transition 

to a single check-processing center by 

the first quarter of 2010.4 The Reserve 

Banks are taking these steps in response 

to the continued nationwide decline in 

check usage, as well as the rapidly 

increasing use of electronic checkclearing methods, and to meet the cost 

recovery requirements of the Monetary 

Control Act of 1980. For the information 

and planning needs of banks, the Board 

is today providing notice that, assuming 

check volumes continue to evolve in 

line with the Reserve Banks’ 

expectations, the Reserve Banks intend 

to change their check-processing 

infrastructure such that by early next 

year there will be only a single checkprocessing region for purposes of 

Regulation CC. Accordingly, at that time 

there will no longer be any checks that 

would be considered nonlocal. 

Administrative Procedure Act 

The public comment requirements of 

section 553(b) of the Administrative 

Procedure Act do not apply to these 

amendments to Appendix A of 

Regulation CC because the amendments 

involve matters of agency organization. 

The Monetary Control Act requires cost 

recovery for Federal Reserve Bank 

priced services over the long term, 

which from time to time necessitates 

changes in the internal organization of 

Reserve Bank services in order to meet 

the statutory mandate. The rapid 

decline in paper check volumes, 

generally, and the decline in paper 

checks sent to the Reserve Banks for 

collection have significantly reduced 

the need for Federal Reserve checkprocessing locations and the ability of 

Reserve Banks to recover the costs of 

maintaining those locations. In order to 

achieve the Monetary Control Act 

requirement of long-run full cost 

recovery, the Reserve Banks have 

adjusted their check service 

infrastructure to reduce the number of 

check-processing regions. In light of the 

fact that the Reserve Banks are receiving 

a high percentage of checks 

electronically, the consolidation of 

check processing centers and the 

accompanying amendments to 

Appendix A of Regulation CC are 

required by law. As a result of the 

consolidation of Federal Reserve checkprocessing offices, amendments to 

Appendix A are necessary because the 

statutory and regulatory terms ‘‘local’’ 

and ‘‘nonlocal’’ are defined in terms of 

‘‘check-processing regions’’—the 

geographic areas served by a Federal 

Reserve check-processing office. 

In addition, the Board finds, in 

accordance with APA section 553(d), 

good cause for making the amendments 

to Appendix A relating to the transfer of 

check-processing operations from Dallas 

to Cleveland effective without 30 days 

advance publication. On August 14, 

2009, the Federal Reserve Banks, by 

letter, informed depository institutions 

within Dallas’s check-processing region 

of the October 17 transfer of checkprocessing operations from Dallas to 

Cleveland. That letter was then 

published on the Federal Reserve 

Financial Services’ Web site. 

Accordingly, the affected depository 

institutions are aware of and making 

preparations for the transfer of paper 

check-processing operations from Dallas 

to Cleveland. 

Paperwork Reduction Act 

In accordance with the Paperwork 

Reduction Act of 1995 (44 U.S.C. 3506; 

5 CFR 1320 Appendix A.1), the Board 

has reviewed the final rule under 

authority delegated to the Board by the 

Office of Management and Budget. The 

technical amendments to Appendix A of 

Regulation CC will delete the references 

to the head office of the Federal Reserve 

Bank of Dallas and the Los Angeles 

branch office of the Federal Reserve 

Bank of San Francisco and reassign the 

routing symbols listed under those 

offices to the head office of the Federal 

Reserve Bank of Cleveland. The 

depository institutions that are located 

in the affected check-processing regions 

and that include the routing numbers in 

their disclosure statements would be 

required to notify customers of the 

resulting change in availability under 

§ 229.18(e). However, the Board believes 

that all procedures for notifying 

customers of any change in funds 

availability are in place, and therefore, 

the Board anticipates that no additional 

burden will be imposed as a result of 

this rulemaking. 

List of Subjects in 12 CFR Part 229 

Banks, Banking, Reporting and 

recordkeeping requirements. 

Authority and Issuance 

■ For the reasons set forth in the 

preamble, the Board is amending 12 

CFR part 229 to read as follows: 

PART 229—AVAILABILITY OF FUNDS 

AND COLLECTION OF CHECKS 

(REGULATION CC) 

■ 1. The authority citation for part 229 

continues to read as follows: 

Authority: 12 U.S.C. 4001–4010, 12 U.S.C. 

5001–5018. 

■ 2. Effective October 17, 2009, the 

Fourth and Eleventh District routing 

symbol lists in appendix A are amended 

by removing the headings and listings 

for the Eleventh Federal Reserve District 

and revising the listings for the Fourth 

Federal Reserve District to read as 

follows: 

APPENDIX A To Part 229—Routing 

Number Guide To Next-Day 

Availability Checks and Local Checks 

* * * * * 

Fourth Federal Reserve District 

[Federal Reserve Bank of Cleveland] 

Head Office 

0220–2220 

0223–2223 

0410–2410 

0412–2412 


jlentini on DSKJ8SOYB1PROD with RULES
Federal Register / Vol. 74, No. 198 / Thursday, October 15, 2009 / Rules and Regulations 52877 

0420–2420 

0421–2421 

0422–2422 

0423–2423 

0430–2430 

0432–2432 

0433–2433 

0434–2434 

0440–2440 

0441–2441 

0442–2442 

0515–2515 

0519–2519 

0710–2710 

0711–2711 

0712–2712 

0719–2719 

0720–2720 

0724–2724 

0730–2730 

0739–2739 

0740–2740 

0749–2749 

0750–2750 

0759–2759 

0813–2813 

0830–2830 

0839–2839 

0863–2863 

0910–2910 

0911–2911 

0912–2912 

0913–2913 

0914–2914 

0915–2915 

0918–2918 

0919–2919 

0920–2920 

0921–2921 

0929–2929 

0960–2960 

1010–3010 

1011–3011 

1012–3012 

1019–3019 

1020–3020 

1021–3021 

1022–3022 

1023–3023 

1030–3030 

1031–3031 

1039–3039 

1040–3040 

1041–3041 

1049–3049 

1070–3070 

1110–3110 

1111–3111 

1113–3113 

1119–3119 

1120–3120 

1122–3122 

1123–3123 

1130–3130 

1131–3131 

1140–3140 

1149–3149 

1163–3163 

* * * * * 

■ 3. Effective November 14, 2009, the 

Fourth and Twelfth District routing 

symbol lists in appendix A are amended 

by removing the headings and listings 

for the Twelfth Federal Reserve District 

and revising the listings for the Fourth 

Federal Reserve District to read as 

follows: 

APPENDIX A TO PART 229— 

ROUTING NUMBER GUIDE TO NEXTDAY AVAILABILITY CHECKS AND 

LOCAL CHECKS 

* * * * * 

Fourth Federal Reserve District 

[Federal Reserve Bank of Cleveland] 

Head Office 

0220–2220 

0223–2223 

0410–2410 

0412–2412 

0420–2420 

0421–2421 

0422–2422 

0423–2423 

0430–2430 

0432–2432 

0433–2433 

0434–2434 

0440–2440 

0441–2441 

0442–2442 

0515–2515 

0519–2519 

0710–2710 

0711–2711 

0712–2712 

0719–2719 

0720–2720 

0724–2724 

0730–2730 

0739–2739 

0740–2740 

0749–2749 

0750–2750 

0759–2759 

0813–2813 

0830–2830 

0839–2839 

0863–2863 

0910–2910 

0911–2911 

0912–2912 

0913–2913 

0914–2914 

0915–2915 

0918–2918 

0919–2919 

0920–2920 

0921–2921 

0929–2929 

0960–2960 

1010–3010 

1011–3011 

1012–3012 

1019–3019 

1020–3020 

1021–3021 

1022–3022 

1023–3023 

1030–3030 

1031–3031 

1039–3039 

1040–3040 

1041–3041 

1049–3049 

1070–3070 

1110–3110 

1111–3111 

1113–3113 

1119–3119 

1120–3120 

1122–3122 

1123–3123 

1130–3130 

1131–3131 

1140–3140 

1149–3149 

1163–3163 

1210–3210 

1211–3211 

1212–3212 

1213–3213 

1220–3220 

1221–3221 

1222–3222 

1223–3223 

1224–3224 

1230–3230 

1231–3231 

1232–3232 

1233–3233 

1240–3240 

1241–3241 

1242–3242 

1243–3243 

1250–3250 

1251–3251 

1252–3252 

* * * * * 

By order of the Board of Governors of the 

Federal Reserve System, acting through the 

Secretary of the Board under delegated 

authority, October 8, 2009. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. E9–24634 Filed 10–14–09; 8:45 am] 

BILLING CODE 6210–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2009–0909; Directorate 

Identifier 2009–NM–172–AD; Amendment 

39–16045; AD 2007–23–05 R1] 

RIN 2120–AA64 

Airworthiness Directives; Saab AB, 

Saab Aerosystems Model SAAB 2000 

Airplanes 

AGENCY: Federal Aviation 

Administration (FAA), Department of 

Transportation (DOT). 

ACTION: Final rule; request for 

comments. 

SUMMARY: We are adopting a new 

airworthiness directive (AD) for the 

products listed above that would revise 

an existing AD. This AD results from 

mandatory continuing airworthiness 

information (MCAI) originated by an 

aviation authority of another country to 

identify and correct an unsafe condition 

on an aviation product. The MCAI 

describes the unsafe condition as: 


jlentini on DSKJ8SOYB1PROD with RULES