23636 Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Proposed Rules 

(iii) Marketable direct obligations of 

state, local, or tribal government units or 

agencies, having at least the second 

highest credit rating from an 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; 

(iv) 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 are not otherwise 

prohibited under paragraphs (a)(5) 

through (a)(7) of this section; and 

(v) Loans held or acquired pursuant to 

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

1432(b)). 

(5) Residual interest and interest 

accrual classes of securities; 

(6) Interest-only and principal-only 

stripped securities; and 

(7) Fixed rate mortgage-backed 

securities or eligible asset-backed 

securities or floating rate mortgagebacked securities or eligible assetbacked securities that on the trade date 

are at rates equal to their contractual 

cap, with average lives that vary more 

than six years under an assumed 

instantaneous interest rate change of 

300 basis points, unless the instrument 

qualifies as an acquired member asset 

under part 955 of this title. 

(b) Foreign currency or commodity 

positions prohibited. A Bank may not 

take a position in any commodity or 

foreign currency. The Banks may issue 

consolidated obligations denominated 

in a currency other than U.S. Dollars or 

linked to equity or commodity prices, 

provided that the Banks meet the 

requirements of § 966.8(d) of this title, 

and all other applicable requirements 

related to issuing consolidated 

obligations. 

(c) Limits on certain investments. (1) 

A purchase, otherwise authorized under 

this part, of mortgage-backed securities 

or asset-backed securities, may not 

cause the aggregate book value of all 

such securities held by the Bank to 

exceed 300 percent of the Bank’s total 

capital. A Bank will not be required to 

divest securities solely to bring the level 

of its holdings into compliance with the 

limits of this paragraph, provided that 

the original purchase of the securities 

complied with the limits in this 

paragraph. 

(2) A Bank’s purchase of any 

mortgage-backed or asset-backed 

security may not cause its total holdings 

of mortgage-backed and asset-backed 

securities to increase in any calendar 

quarter by more than 50 percent of its 

total capital as of the beginning of such 

quarter. 

§ 1267.4 Limitations and prudential 

requirements on use of derivative 

instruments. 

(a) Non-speculative use. Derivative 

instruments that do not qualify as 

hedging instruments pursuant to GAAP 

may be used only if a non-speculative 

use is documented by the Bank. 

(b) Additional prohibitions. (1) A 

Bank may not enter into interest rate 

swaps that amortize according to 

behavior of instruments described in 

§ 1267.3(a)(5) or (a)(6) of this part. 

(2) A Bank may not enter into indexed 

principal swaps that have lives that vary 

by more than six years under an 

assumed instantaneous change in 

interest rates of 300 basis points, unless 

they are entered into in conjunction 

with the issuance of consolidated 

obligations or the purchase of 

permissible investments or entry into a 

permissible transaction in which all 

interest rate risk is passed through to the 

investor or counterparty. 

(c) Documentation requirements. (1) 

Derivative transactions with a single 

counterparty shall be governed by a 

single master agreement when 

practicable. 

(2) A Bank’s agreement with the 

counterparty for over-the-counter 

derivative contracts shall include: 

(i) A requirement that market value 

determinations and subsequent 

adjustments of collateral be made at 

least on a monthly basis; 

(ii) A statement that failure of a 

counterparty to meet a collateral call 

will result in an early termination event; 

(iii) A description of early termination 

pricing and methodology, with the 

methodology reflecting a reasonable 

estimate of the market value of the overthe-counter derivative contract at 

termination (standard International 

Swaps and Derivatives Association, Inc. 

language relative to early termination 

pricing and methodology may be used 

to satisfy this requirement); and 

(iv) A requirement that the Bank’s 

consent be obtained prior to the transfer 

of an agreement or contract by a 

counterparty. 

§ 1267.5 Risk-based capital requirements 

for investments. 

Any Bank which is not subject to the 

capital requirements set forth in part 

932 of this title shall hold retained 

earnings plus general allowance for 

losses as support for the credit risk of all 

investments that are not rated by an 

NRSRO, or are rated or have a putative 

rating below the second highest credit 

rating, in an amount equal to or greater 

than the outstanding balance of the 

investments multiplied by: 

(a) A factor associated with the credit 

rating of the investments as determined 

by FHFA on a case-by-case basis for 

rated assets to be sufficient to raise the 

credit quality of the asset to the second 

highest credit rating category; and 

(b) 0.08 for assets having neither a 

putative nor actual rating. 

Dated: April 28, 2010. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2010–10426 Filed 5–3–10; 8:45 am] 

BILLING CODE 8070–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2010–0403; Airspace 

Docket No. 10–ACE–4] 

Proposed Amendment of Class E 

Airspace; Perryville, MO 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: This action proposes to 

amend Class E airspace at Perryville, 

MO. Additional controlled airspace is 

necessary to accommodate new 

Standard Instrument Approach 

Procedures (SIAPs) at Perryville 

Municipal Airport, Perryville, MO. The 

FAA is taking this action to enhance the 

safety and management of Instrument 

Flight Rules (IFR) operations at the 

airport. 

DATES: 0901 UTC. Comments must be 

received on or before June 18, 2010. 

ADDRESSES: Send comments on this 

proposal to the U.S. Department of 

Transportation, Docket Operations, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590–0001. You must 

identify the docket number FAA–2010– 

0403/Airspace Docket No. 10–ACE–4, at 

the beginning of your comments. You 

may also submit comments through the 

Internet at http://www.regulations.gov. 

You may review the public docket 

containing the proposal, any comments 

received, and any final disposition in 

person in the Dockets Office between 9 

a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. The 

Docket Office (telephone 1–800–647– 

5527), is on the ground floor of the 

building at the above address. 


sroberts on DSKD5P82C1PROD with PROPOSALS
Federal Register / Vol. 75, No. 85 / Tuesday, May 4, 2010 / Proposed Rules 23637 

FOR FURTHER INFORMATION CONTACT: 

Scott Enander, Central Service Center, 

Operations Support Group, Federal 

Aviation Administration, Southwest 

Region, 2601 Meacham Blvd, Fort 

Worth, TX 76137; telephone: 817–321– 

7716. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

Interested parties are invited to 

participate in this proposed rulemaking 

by submitting such written data, views, 

or arguments, as they may desire. 

Comments that provide the factual basis 

supporting the views and suggestions 

presented are particularly helpful in 

developing reasoned regulatory 

decisions on the proposal. Comments 

are specifically invited on the overall 

regulatory, aeronautical, economic, 

environmental, and energy-related 

aspects of the proposal. 

Communications should identify both 

docket numbers and be submitted in 

triplicate to the address listed above. 

Commenters wishing the FAA to 

acknowledge receipt of their comments 

on this notice must submit with those 

comments a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to 

Docket No. FAA–2010–0403/Airspace 

Docket No. 10–ACE–4.’’ The postcard 

will be date/time stamped and returned 

to the commenter. 

Availability of NPRMs 

An electronic copy of this document 

may be downloaded through the 

Internet at http://www.regulations.gov. 

Recently published rulemaking 

documents can also be accessed through 

the FAA’s Web page at http:// 

www.faa.gov/airports_airtraffic/ 

air_traffic/publications/ 

airspace_amendments/. 

You may review the public docket 

containing the proposal, any comments 

received and any final disposition in 

person in the Dockets Office (see 

ADDRESSES section for address and 

phone number) between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. An informal docket 

may also be examined during normal 

business hours at the office of the 

Central Service Center, 2601 Meacham 

Blvd, Fort Worth, TX 76137. 

Persons interested in being placed on 

a mailing list for future NPRM’s should 

contact the FAA’s Office of Rulemaking 

202–267–9677, to request a copy of 

Advisory Circular No. 11–2A, Notice of 

Proposed Rulemaking Distribution 

System, which describes the application 

procedure. 

The Proposal 

This action proposes to amend Title 

14, Code of Federal Regulations (14 

CFR), part 71 by adding additional Class 

E airspace extending upward from 700 

feet above the surface for SIAPs at 

Perryville Municipal Airport, Perryville, 

MO. Controlled airspace is needed for 

the safety and management of IFR 

operations at the airport. 

Class E airspace areas are published 

in Paragraph 6005 of FAA Order 

7400.9T, dated August 27, 2009, and 

effective September 15, 2009, which is 

incorporated by reference in 14 CFR 

71.1. The Class E airspace designation 

listed in this document would be 

published subsequently in the Order. 

The FAA has determined that this 

proposed regulation only involves an 

established body of technical 

regulations for which frequent and 

routine amendments are necessary to 

keep them operationally current. It, 

therefore, (1) is not a ‘‘significant 

regulatory action’’ under Executive 

Order 12866; (2) is not a ‘‘significant 

rule’’ under DOT Regulatory Policies 

and Procedures (44 FR 11034; February 

26, 1979); and (3) does not warrant 

preparation of a Regulatory Evaluation 

as the anticipated impact is so minimal. 

Since this is a routine matter that will 

only affect air traffic procedures and air 

navigation, it is certified that this rule, 

when promulgated, will not have a 

significant economic impact on a 

substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the U.S. Code. Subtitle 1, 

section 106 describes the authority of 

the FAA Administrator. Subtitle VII, 

Aviation Programs, describes in more 

detail the scope of the agency’s 

authority. This rulemaking is 

promulgated under the authority 

described in Subtitle VII, part A, subpart 

I, section 40103. Under that section, the 

FAA is charged with prescribing 

regulations to assign the use of airspace 

necessary to ensure the safety of aircraft 

and the efficient use of airspace. This 

regulation is within the scope of that 

authority as it would add additional 

controlled airspace at Perryville 

Municipal Airport, Perryville, MO. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (Air). 

The Proposed Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

proposes to amend 14 CFR part 71 as 

follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(g); 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 71.1 [Amended] 

2. The incorporation by reference in 

14 CFR 71.1 of FAA Order 7400.9T, 

Airspace Designations and Reporting 

Points, signed August 27, 2009, and 

effective September 15, 2009, is 

amended as follows: 

Paragraph 6005 Class E Airspace areas 

extending upward from 700 feet or more 

above the surface of the earth. 

* * * * * 

ACE MO E5 Perryville, MO [Amended] 

Perryville Municipal Airport, MO 

(Lat. 37°52′07′′ N., long. 89°51′44′′ W.) 

Farmington VORTAC, MO 

(Lat. 37°40′24′′ N., long. 90°14′03′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 6.6-mile 

radius of Perryville Municipal Airport and 

within 1.8 miles each side of the 057° radial 

of the Farmington VORTAC extending from 

the 6.6-mile radius to 8.2 miles southwest of 

the airport, and within 3.9 miles each side of 

the 197° bearing from the airport extending 

from the 6.6-mile radius to 11 miles south of 

the airport. 

Issued in Fort Worth, TX on April 23, 

2010. 

Anthony D. Roetzel, 

Manager, Operations Support Group, ATO 

Central Service Center. 

[FR Doc. 2010–10323 Filed 5–3–10; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF LABOR 

Occupational Safety and Health 

Administration 

29 CFR Part 1910 

Injury and Illness Prevention Program 

AGENCY: Occupational Safety and Health 

Administration (OSHA), Labor. 

ACTION: Notice of stakeholder meetings. 

SUMMARY: OSHA invites interested 

parties to participate in informal 

stakeholder meetings on Injury and 

Illness Prevention Programs, referred to 

as ‘‘I2P2.’’ OSHA plans to use the 

information gathered at these meetings 

in developing an Injury and Illness 

Prevention Program proposed rule. The 

discussions will be informal and will 

provide the Agency with the necessary 


sroberts on DSKD5P82C1PROD with PROPOSALS