32010 Federal Register / Vol. 65, No. 99 / Monday, May 22, 2000 / Rules and Regulations

to revise § 985.218 to change the salable

quantity and allotment percentage for

Native spearmint oil, as hereinafter set

forth, will tend to effectuate the

declared policy of the Act.

List of Subjects in 7 CFR Part 985

Marketing agreements, Oils and fats,

Reporting and recordkeeping

requirements, Spearmint oil.

For the reasons set forth in the

preamble, 7 CFR part 985 is amended as

follows:

PART 985—MARKETING ORDER

REGULATING THE HANDLING OF

SPEARMINT OIL PRODUCED IN THE

FAR WEST

Accordingly, the interim final rule

amending 7 CFR part 985 as published

at 65 FR 15832 on March 24, 2000, and

which amended the interim final rule

published at 65 FR 6528 on February 10,

2000, is adopted as a final rule without

change.

Dated: May 16, 2000.

Robert C. Keeney,

Deputy Administrator, Fruit and Vegetable

Programs.

[FR Doc. 00–12801 Filed 5–19–00; 8:45 am]

BILLING CODE 3410–02–P

DEPARTMENT OF AGRICULTURE

Agricultural Marketing Service

7 CFR Parts 1001, 1005, 1006, 1007,

1126, 1131, and 1135

[Docket No. DA–97–12]

Milk in the New England and Other

Marketing Areas; Order Amending the

Orders; Correction

AGENCY: Agricultural Marketing Service,

USDA.

ACTION: Final rule; correction.

SUMMARY: The Agricultural Marketing

Service published in the Federal

Register on September 1, 1999, (64 FR

47898) a final rule which consolidated

31 Federal milk marketing orders into

11 orders. This document corrects an

error in section 73 of 7 of those orders

by changing the term ‘‘pool plant

operator’’ to ‘‘handler.’’ The remaining 4

orders contain the correct language.

EFFECTIVE DATE: This correction is

effective May 22, 2000.

FOR FURTHER INFORMATION CONTACT:

Nicholas Memoli, Marketing Specialist,

Order Formulation Branch, USDA/

AMS/Dairy Programs, Room 2971,

South Building, P.O. Box 96456,

Washington, DC 20090–6456, (202) 690–

1932, e-mail address

Nicholas.Memoli@usda.gov.

SUPPLEMENTARY INFORMATION:

Background and Need for Correction

In the final rule (DA–97–12) issued

August 23, 1999, and published in the

Federal Register on September 1, 1999

(64 FR 47898), an error in Section 73(a)

and (b) of Parts 1001, 1005, 1006, and

1007, and Section 73(b) of Parts 1126,

1131, and 1135 was inadvertently made.

Specifically, the term ‘‘handler’’ was

changed to ‘‘pool plant operator.’’ The

correct term is used in the 4 remaining

orders (Parts 1030, 1032, 1033 and 1124)

and is only different in the 7 orders

because of an oversight in drafting the

amendments to the orders. Therefore,

the applicable provisions of the 7 orders

need to be corrected.

List of Subjects in 7 CFR Parts 1000 to

1199

Milk orders.

Accordingly, 7 CFR Parts 1001, 1005,

1006, 1007, 1126, 1131, and 1135 are

corrected by making the following

correcting amendments:

PARTS 1001, 1005, 1006, 1007, 1126,

1131, and 1135—[AMENDED]

1. The authority citation for Parts

1001, 1005, 1006, 1007, 1126, 1131, and

1135 continues to read as follows:

Authority: 7 U.S.C. 601–674, and 7253.

§§ 1001.73, 1005.73, 1006.73, 1007.73,

1126.73, 1131.73, 1135.73 [Amended]

2. In the introductory text of

§§ 1001.73(a) and (b), 1005.73(a) and (b),

1006.73(a) and (b), 1007.73(a) and (b),

1126.73(b), 1131.73(b), and 1135.73(b),

the words ‘‘pool plant operator’’ are

revised to read ‘‘handler.’’

Dated: May 17, 2000.

Kenneth C. Clayton,

Acting Administrator, Agricultural Maketing

Service.

[FR Doc. 00–12799 Filed 5–19–00; 8:45 am]

BILLING CODE 3410–02–P

NATIONAL CREDIT UNION

ADMINISTRATION

12 CFR Part 707

Truth in Savings

CFR Correction

In Title 12 of the Code of Federal

Regulations, parts 600 to End, revised as

of January 1, 2000, page 404, Part 707,

Appendix C is corrected by adding

Appendices A and B to the end to read

as follows:

APPENDIX C TO PART 707—

OFFICIAL STAFF INTERPRETATIONS

* * * * *

Appendix A to Part 707—Annual

Percentage Yield Calculation

Part I. Annual Percentage Yield for Account

Disclosures and Advertising Purposes

1. Rounding for calculations. The

following are examples of permissible

rounding rules for calculating dividends and

the annual percentage yield:

i. The daily rate applied to a balance

carried to five or more decimals. For

example; .008219178%, 3.00% for a 365 day

year, would be rounded to no less than

.00822%.

ii. The daily dividends or interest earned

carried to five or more decimals. For

example; $.08219178082, daily dividends on

$1,000 at 3% for a 365 day year, would be

rounded to no less than $.08219.

2. Exponents in a leap year. The annual

percentage yield formula’s exponent

numerator will remain 365 in leap years. The

‘‘days in term’’ figure used in the

denominator should be consistent with the

length of term used in the dividends

calculation.

3. First tier of a tiered-rate account. When

credit unions use a rate table, the first tier of

a tiered rate account is to be disclosed and

advertised; ‘‘Up to but not exceeding * * * ’’,

‘‘$.01 to * * * ’’, or similar language.

4. Term Share Accounts Opened in

Midterm. For club accounts that meet the

definition of a term share account, the annual

percentage yield is based on the maximum

number of days in the term not to exceed 365

days (or 366 days in a leap year).

Part II. Annual Percentage Yield Earned for

Periodic Statements

1. Balance method. The dividend or

interest figure used in the calculation of the

annual percentage yield earned may be

derived from the daily balance method or the

average daily balance method. Regardless of

the dividend calculation method, the balance

used in the annual percentage yield earned

formula is the average daily balance. The

average daily balance calculation is the sum

of the balances for each day in the period

divided by the number of days in the period.

The balance for each day is based on a point

in time; i.e. beginning of day balance, end of

day balance, closing of day balance, etc. Each

day’s balance, for dividend accrual and

payment purposes, must be based on the

same point in time and cannot be based on

the day’s low balance.

2. Negative balances prohibited. Credit

unions must treat a negative account balance

as zero to determine the balance on which

the annual percentage yield earned is

calculated. (See commentary to § 707.7(a)(2).)

A. General Formula

1. Accrued but uncredited dividends. To

calculate the annual percentage yield earned,

accrued but uncredited dividends:

i. May not be included in the balance for

statements that are issued at the same time

or less frequently than the account’s

compounding and crediting frequency. For