25692 Federal Register / Vol. 65, No. 86 / Wednesday, May 3, 2000 / Proposed Rules

47. Termination Type—Numeric indicator

for whether the loan terminated in a

prepayment, foreclosure, or other types of

termination.

48. ARM Index—Index used for the

calculation of interest on an ARM.

49. ARM margin—Margin added to the

index for calculation of the interest on an

ARM.

50. Prepayment Penalty Terms—Numeric

indicator for types of prepayment penalties.

10. In subchapter G, revise part 956 to

read as follows:

PART 956—FEDERAL HOME LOAN

BANK INVESTMENTS

Sec.

956.1 Definitions.

956.2 Authorized investments.

956.3 Prohibited investments and

prudential rules.

956.4 Risk-based capital requirement for

investments.

Authority: 12 U.S.C. 1422a(a)(3), 1422b(a),

1431, 1436.

§ 956.1 Definitions.

As used in this part:

Deposits in banks or trust companies

has the meaning set forth in § 969.3 of

this chapter.

Financial Management Policy means

the Financial Management Policy For

The Federal Home Loan Bank System

approved by the Finance Board

pursuant to Finance Board Resolution

No. 96–45 (July 3, 1996), as amended by

Finance Board Resolution No. 96–90

(Dec, 6, 1996), Finance Board

Resolution No. 97–05 (Jan. 14, 1997),

and Finance Board Resolution No. 97–

86 (Dec. 17, 1997).

GAAP means Generally Accepted

Accounting Principles.

Investment grade means:

(1) A credit quality rating in one of

the four highest credit rating categories

by an NRSRO and not below the fourth

highest credit rating category by any

NRSRO; or

(2) If there is no credit quality rating

by an NRSRO, a determination by a

Bank that the issuer, asset or instrument

is the credit equivalent of investment

grade using credit rating standards

available from an NRSRO or other

similar standards.

NRSRO has the meaning set forth in

§ 966.1 of this chapter.

§ 956.2 Authorized investments.

In addition to assets enumerated in

parts 950 and 955 of this chapter and

subject to the applicable limitations set

forth in this part and in part 980 of this

chapter, each Bank may invest in:

(a) Obligations of the United States;

(b) Deposits in banks or trust

companies;

(c) Obligations, participations or other

instruments of, or issued by, the Federal

National Mortgage Association or the

Government National Mortgage

Association;

(d) Mortgages, obligations, or other

securities that are, or ever have been,

sold by the Federal Home Loan

Mortgage Corporation pursuant to 12

U.S.C. 1454 or 1455;

(e) Stock, obligations, or other

securities of any small business

investment company formed pursuant

to 15 U.S.C. 681(d), to the extent such

investment is made for purposes of

aiding members of the Bank; and

(f) Instruments that the Bank has

determined are permissible investments

for fiduciary or trust funds under the

laws of the state in which the Bank is

located.

§ 956.3 Prohibited investments and

prudential rules.

(a) Prohibited investments. A Bank

may not invest in:

(1) Instruments that provide an

ownership interest in an entity, except

for investments described in

§§ 940.3(a)(5) and (6) of this chapter;

(2) Instruments issued by non-United

States entities, except United States

branches and agency offices of foreign

commercial banks;

(3) Debt instruments that are not rated

as investment grade, except:

(i) Investments described in

§ 940.3(a)(5) of this chapter; and

(ii) Debt instruments that were

downgraded to a below investment

grade rating after acquisition by the

Bank; or

(4) Whole mortgages or other whole

loans, or interests in mortgages or loans,

except:

(i) Acquired member assets;

(ii) Marketable direct obligations of

state or local government units or

agencies, having at least the second

highest credit rating from a NRSRO,

where the purchase of such obligations

by the Bank provides to the issuer the

customized terms, necessary liquidity,

or favorable pricing required to generate

needed funding for housing or

community lending;

(iii) Mortgage-backed securities, or

asset-backed securities collateralized by

manufactured housing loans or home

equity loans, that meet the definition of

the term ‘‘securities’’ under 15 U.S.C.

77b(a)(1); and

(iv) Loans held or acquired pursuant

to section 12(b) of the Act (12 U.S.C.

1432(b)).

(b) Foreign currency or commodity

positions prohibited. A Bank may not

take a position in any commodity or

foreign currency. If a Bank participates

in consolidated obligations

denominated in a currency other than

U.S. Dollars or linked to equity or

commodity prices, the currency,

commodity and equity risks must be

hedged.

§ 956.4 Risk-based capital requirement for

investments.

Each Bank shall hold retained

earnings plus specific loan loss reserves

as support for the credit risk of all

investments that are not rated by a

NRSRO, or are rated below the second

highest credit rating, in an amount equal

to or greater than the outstanding

balance of the investments times a factor

associated with the credit rating of the

investments as determined by the

Finance Board.

Dated: April 12, 2000.

By the Board of Directors of the Federal

Housing Finance Board.

Bruce A. Morrison,

Chairman.

[FR Doc. 00–10909 Filed 5–2–00; 8:45 am]

BILLING CODE 6725–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 2000–SW–05–AD]

Airworthiness Directives; Agusta

S.p.A. Model A109A and A109A II

Helicopters

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of proposed rulemaking

(NPRM).

SUMMARY: This document proposes the

adoption of a new airworthiness

directive (AD) applicable to Agusta

S.p.A. Model A109A and A109A II

helicopters. This proposal would

require radiographic inspection of the

internal surface of each main rotor blade

spar (spar) for corrosion. This proposal

is prompted by the discovery of

corrosion on the internal surfaces of the

spar in the area adjacent to the main

rotor blade inertia balance weights. The

actions specified by the proposed AD

are intended to prevent failure of a main

rotor blade due to corrosion on the

internal surface of the spar and

subsequent loss of control of the

helicopter.

DATES: Comments must be received on

or before July 3, 2000.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Office of the

Regional Counsel, Southwest Region,

Attention: Rules Docket No. 2000-SW–

Federal Register / Vol. 65, No. 86 / Wednesday, May 3, 2000 / Proposed Rules 25693

05-AD, 2601 Meacham Blvd., Room 663,

Fort Worth, Texas 76137. Comments

may be inspected at this location

between 9 a.m. and 3 p.m., Monday

through Friday, except Federal holidays.

The service information referenced in

the proposed rule may be obtained from

Agusta, 21017 Cascina Costa di

Samarate (VA), Via Giovanni Agusta

520, telephone (0331) 229111, fax (0331)

229605–222595. This information may

be examined at the FAA, Office of the

Regional Counsel, Southwest Region,

Room 663, Fort Worth, Texas.

FOR FURTHER INFORMATION CONTACT: Jim

Grigg, Aviation Safety Engineer, FAA,

Rotorcraft Directorate, Regulations

Group, Fort Worth, Texas 76193–0111,

telephone (817) 222–5490, fax (817)

222–5961.

SUPPLEMENTARY INFORMATION:

Comments Invited

Interested persons are invited to

participate in the making of the

proposed rule by submitting such

written data, views, or arguments as

they may desire. Communications

should identify the Rules Docket

number and be submitted in triplicate to

the address specified above. All

communications received on or before

the closing date for comments, specified

above, will be considered before taking

action on the proposed rule. The

proposals contained in this notice may

be changed in light of the comments

received.

Comments are specifically invited on

the overall regulatory, economic,

environmental, and energy aspects of

the proposed rule. All comments

submitted will be available, both before

and after the closing date for comments,

in the Rules Docket for examination by

interested persons. A report

summarizing each FAA-public contact

concerned with the substance of this

proposal will be filed in the Rules

Docket.

Commenters wishing the FAA to

acknowledge receipt of their comments

submitted in response to this notice

must submit a self-addressed, stamped

postcard on which the following

statement is made: ‘‘Comments to

Docket No. 2000–SW–05–AD.’’ The

postcard will be date stamped and

returned to the commenter.

Availability of NPRMs

Any person may obtain a copy of this

NPRM by submitting a request to the

FAA, Office of the Regional Counsel,

Southwest Region, Attention: Rules

Docket No. 2000–SW–05–AD, 2601

Meacham Blvd., Room 663, Fort Worth,

Texas 76137.

Discussion

The Registro Aeronautico Italiano

(RAI), the airworthiness authority for

Italy, notified the FAA that an unsafe

condition may exist on Agusta Model

A109A and A109A II helicopters. The

RAI advises that corrosion has been

found on the internal surfaces of the

spar.

Agusta has issued Alert Service

Bulletin No. 109–111, dated October 14,

1999 (ASB), which specifies

radiographic inspection and if

necessary, eddy current or dye

penetrant inspection of main rotor

blades, part number (P/N) 109–0103–01-

(all dash numbers except P/N 109–

0103–01–115) installed on all Agusta

Model A109A and A109A II helicopters

to ensure that the blades are airworthy.

The RAI classified this ASB as

mandatory and issued AD No. 99–413,

dated October 19, 1999, to ensure the

continued airworthiness of these

helicopters in Italy.

These helicopter models are

manufactured in Italy and are type

certificated for operation in the United

States under the provisions of § 21.29 of

the Federal Aviation Regulations (14

CFR 21.29) and the applicable bilateral

airworthiness agreement. Pursuant to

this bilateral airworthiness agreement,

the RAI has kept the FAA informed of

the situation described above. The FAA

has examined the findings of the RAI,

reviewed all available information, and

determined that AD action is necessary

for products of this type design that are

certificated for operation in the United

States.

Since an unsafe condition has been

identified that is likely to exist or

develop on other Agusta Model A109A

and A109A II helicopters of the same

type designs registered in the United

States, the proposed AD would require

radiographic inspection of the upper

and lower sides of each main rotor

blade, P/N 109–0103–01–(all dash

numbers except P/N 109–0103–01–115)

for spar corrosion. The AD would

require an initial radiographic

inspection with recurring radiographic

inspections at intervals not to exceed 24

months. If corrosion is detected at the

STA 1354 centered radiographic

inspection, the blade would be required

to be removed from service. If corrosion

is detected at the STA 2825 centered

radiographic inspection, additional

inspections either by eddy current at

intervals not to exceed 25 hours time-inservice (TIS) or by dye penetrant at

intervals not to exceed 10 hours TIS

would be required.

The FAA estimates that 54 helicopters

of U.S. registry would be affected by this

proposed AD, that it would take

approximately 10 work hours for the

initial radiographic inspection and 4

work hours for each eddy current

inspection per helicopter, and that the

average labor rate is $60 per work hour.

The total cost impact of the proposed

AD on U.S. operators is estimated to be

$343,440 assuming every helicopter

requires an eddy current inspection

each month for a 24-month interval and

assuming that no blade will need to be

replaced.

The regulations proposed herein

would not have a substantial direct

effect on the States, on the relationship

between the national Government and

the States, or on the distribution of

power and responsibilities among the

various levels of government. Therefore,

it is determined that this proposal

would not have federalism implications

under Executive Order 13132.

For the reasons discussed above, I

certify that this proposed regulation (1)

is not a ‘‘significant regulatory action’’

under Executive Order 12866; (2) is not

a ‘‘significant rule’’ under the DOT

Regulatory Policies and Procedures (44

FR 11034, February 26, 1979); and (3) if

promulgated, will not have a significant

economic impact, positive or negative,

on a substantial number of small entities

under the criteria of the Regulatory

Flexibility Act. A copy of the draft

regulatory evaluation prepared for this

action is contained in the Rules Docket.

A copy of it may be obtained by

contacting the Rules Docket at the

location provided under the caption

ADDRESSES.

List of Subjects in 14 CFR Part 39

Air transportation, Aircraft, Aviation

safety, Safety.

The Proposed Amendment

Accordingly, pursuant to the

authority delegated to me by the

Administrator, the Federal Aviation

Administration proposes to amend part

39 of the Federal Aviation Regulations

(14 CFR part 39) as follows:

PART 39—AIRWORTHINESS

DIRECTIVES

1. The authority citation for part 39

continues to read as follows:

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

§ 39.13 [Amended]

2. Section 39.13 is amended by

adding a new airworthiness directive to

read as follows:

Agusta S.p.A.: Docket No. 2000–SW–05–AD.

Applicability: Model A109A and A109A II

helicopters, with main rotor blade part

25694 Federal Register / Vol. 65, No. 86 / Wednesday, May 3, 2000 / Proposed Rules

number (P/N) 109–0103–01–(all dash

numbers except P/N 109–0103–01–115),

installed, certificated in any category.

Note 1: This AD applies to each helicopter

identified in the preceding applicability

provision, regardless of whether it has been

otherwise modified, altered, or repaired in

the area subject to the requirements of this

AD. For helicopters that have been modified,

altered, or repaired so that the performance

of the requirements of this AD is affected, the

owner/operator must request approval for an

alternative method of compliance in

accordance with paragraph (d) of this AD.

The request should include an assessment of

the effect of the modification, alteration, or

repair on the unsafe condition addressed by

this AD; and if the unsafe condition has not

been eliminated, the request should include

specific proposed actions to address it.

Compliance: Required as indicated, unless

accomplished previously.

To prevent failure of a main rotor blade

due to corrosion on the internal surface of the

spar and subsequent loss of control of the

helicopter, accomplish the following:

(a) Within 25 hours time-in-service (TIS),

perform a radiographic inspection of the

upper and lower surfaces of each main rotor

blade for internal corrosion on the spar in

accordance with (IAW) Part I, paragraph 4, of

Agusta Service Bulletin No. 109–111, dated

October 14, 1999 (ASB).

(1) If no corrosion is detected, re-identify

the blade by vibro-etching the letter ‘‘R’’ after

the serial number on the nameplate.

(2) If corrosion is detected at the STA 1354

centered inspection, remove the affected

blade from service before further flight.

(3) If corrosion is detected at the STA 2825

centered inspection, re-identify the blade by

vibro-etching the letters ‘‘RC’’ after the serial

number on the nameplate.

(b) After re-identifying a blade with the

letter ‘‘R’’ after the serial number on the

nameplate in accordance with paragraph

(a)(1) of this AD, at intervals not to exceed

24 months, repeat the radiographic

inspection IAW Part I, paragraph 4, of the

ASB.

(1) If corrosion is detected at the STA 1354

centered inspection, remove the affected

blade from service before further flight.

(2) If corrosion is detected at the STA 2825

centered inspection, re-identify the blade by

vibro-etching the letter ‘‘C’’ after the letter

‘‘R’’ previously vibro-etched on the

nameplate after the serial number.

(c) After re-identifying a blade with the

letters ‘‘RC’’ after the serial number on the

nameplate IAW paragraph (a)(3) or (b)(2) of

this AD,

(1) At intervals not to exceed 24 months,

repeat the STA 1354 centered radiographic

inspection IAW Part I, paragraph 4.3 of the

ASB, and

(2) Perform either:

(i) An eddy current inspection and,

thereafter, at intervals not to exceed 25 hours

TIS, repeat the eddy current inspection

centered at STA 2825 in accordance with

Part II, paragraph 1, of the ASB, or

(ii) A dye penetrant inspection and,

thereafter, at intervals not to exceed 10 hours

TIS, repeat the dye-penetrant inspection

centered at STA 2825 IAW with Part II,

paragraph 2, of the ASB.

(3) If corrosion is detected at the STA 1354

centered radiographic inspection or if a crack

is detected at the STA 2825 centered eddy

currant or dye penetrant inspection, remove

the affected blade from service before further

flight.

(d) An alternative method of compliance or

adjustment of the compliance time that

provides an acceptable level of safety may be

used if approved by the Manager, Regulations

Group, Rotorcraft Directorate, FAA.

Operators shall submit their requests through

an FAA Principal Maintenance Inspector,

who may concur or comment and then send

it to the Manager, Regulations Group.

Note 2: Information concerning the

existence of approved alternative methods of

compliance with this AD, if any, may be

obtained from the Regulations Group.

(e) Special flight permits may be issued in

accordance with sections 21.197 and 21.199

of the Federal Aviation Regulations (14 CFR

21.197 and 21.199) to operate the helicopter

to a location where the requirements of this

AD can be accomplished.

Note 3: The subject of this AD is addressed

in Registro Aeronautico Italiano (Italy) AD

No. 99–413, dated October 19, 1999.

Issued in Fort Worth, Texas, on April 18,

2000.

Mark R. Schilling,

Acting Manager, Rotorcraft Directorate,

Aircraft Certification Service.

[FR Doc. 00–11062 Filed 5–2–00; 8:45 am]

BILLING CODE 4910–13–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 99–SW–84–AD]

Airworthiness Directives; Bell

Helicopter Textron Canada Model 430

Helicopters

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of proposed rulemaking

(NPRM).

SUMMARY: This document proposes the

adoption of a new airworthiness

directive (AD) that is applicable to Bell

Helicopter Textron Canada (BHTC)

Model 430 helicopters. This proposal

would require replacing arm clamp

screws (screws) in the yaw, roll, pitch,

and collective syncro resolvers, and

installing a guard bracket on the yaw,

roll, pitch, and collective syncro

resolvers. This proposal is prompted by

an operator’s report that a yaw control

channel jammed during freedom-ofcontrol checks following maintenance.

The actions specified by the proposed

AD are intended to prevent a jammed

flight control and subsequent loss of

control of the helicopter.

DATES: Comments must be received on

or before July 3, 2000.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Office of the

Regional Counsel, Southwest Region,

Attention: Rules Docket No. 99–SW–84–

AD, 2601 Meacham Blvd., Room 663,

Fort Worth, Texas 76137. You may also

send comments electronically to the

Rules Docket at the following address:

9-asw-adcomments@faa.gov. Comments

may be inspected at the Office of the

Regional Counsel between 9:00 a.m. and

3:00 p.m., Monday through Friday,

except Federal holidays.

FOR FURTHER INFORMATION CONTACT:

Sharon Miles, Aviation Safety Engineer,

FAA, Rotorcraft Directorate, Regulations

Group, Fort Worth, Texas 76193–0111,

telephone (817) 222–5122, fax (817)

222–5961.

SUPPLEMENTARY INFORMATION:

Comments Invited

Interested persons are invited to

participate in the making of the

proposed rule by submitting such

written data, views, or arguments as

they may desire. Communications

should identify the Rules Docket

number and be submitted in triplicate to

the address specified above. All

communications received on or before

the closing date for comments, specified

above, will be considered before taking

action on the proposed rule. The

proposals contained in this notice may

be changed in light of the comments

received.

Comments are specifically invited on

the overall regulatory, economic,

environmental, and energy aspects of

the proposed rule. All comments

submitted will be available, both before

and after the closing date for comments,

in the Rules Docket for examination by

interested persons. A report

summarizing each FAA-public contact

concerned with the substance of this

proposal will be filed in the Rules

Docket.

Commenters wishing the FAA to

acknowledge receipt of their comments

submitted in response to this notice

must submit a self-addressed, stamped

postcard on which the following

statement is made: ‘‘Comments to

Docket No. 99–SW–84–AD.’’ The

postcard will be date stamped and

returned to the commenter.

Availability of NPRMs

Any person may obtain a copy of this

NPRM by submitting a request to the

FAA, Office of the Regional Counsel,

Southwest Region, Attention: Rules

Docket No. 99–SW–84–AD, 2601