Federal Register / Vol. 62, No. 23 / Tuesday, February 4, 1997 / Proposed Rules 5183

(ii) An employee is reduced in grade

because of unacceptable performance to

a position in which he or she is eligible

for a within-grade increase or will

become eligible within the minimum

period as established at § 430.207(a) of

this chapter.

(2) * * *

(i) The employee shall be informed

that his or her determination is

postponed and the appraisal period

extended and shall be told of the

specific requirements for performance at

an acceptable level of competence.

(ii) An acceptable level of competence

determination shall then be made based

on the employee’s rating of record

completed at the end of the extended

appraisal period.

* * * * *

[FR Doc. 97–2686 Filed 2–3–97; 8:45 am]

BILLING CODE 6325–01–M

FEDERAL RESERVE SYSTEM

12 CFR Part 226

[Regulation Z; Docket No. R–0960]

Truth in Lending

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Proposed rule.

SUMMARY: The Board is publishing for

comment proposed revisions to

Regulation Z. The revisions implement

an amendment to the Truth in Lending

Act contained in the Economic Growth

and Regulatory Paperwork Reduction

Act of 1996 affecting the disclosure of

a fifteen-year historical example of rates

and payments. The amendment applies

to variable-rate loans with a term

exceeding one year and secured by the

consumer’s principal dwelling. The

amendment allows creditors either to

disclose a fifteen-year historical

example or to give a statement that the

periodic payment may substantially

increase or decrease together with a

maximum interest rate and payment

based on a $10,000 loan.

DATES: Comments must be received on

or before February 28, 1997.

ADDRESSES: Comments should refer to

Docket No. R–0960, and may be mailed

to William W. Wiles, Secretary, Board of

Governors of the Federal Reserve

System, 20th Street and Constitution

Avenue, N.W., Washington, DC 20551.

Comments also may be delivered to the

Board’s mail room between 8:45 a.m.

and 5:15 p.m. weekdays, or to the

security control room at all other times.

The mail room and the security control

room are accessible from the courtyard

on 20th Street, N.W. (between

Constitution Avenue and C Street) at

any time. Comments will be available

for inspection in Room MP–500 of the

Martin Building between 9:00 a.m. and

5:00 p.m. weekdays, except as provided

in 12 CFR 261.8 of the Board’s rules

regarding the availability of information.

FOR FURTHER INFORMATION CONTACT:

Kyung H. Cho-Miller, Staff Attorney,

Division of Consumer and Community

Affairs, Board of Governors of the

Federal Reserve System, at (202) 452–

3667 or 452–2412; for users of

Telecommunications Device for the Deaf

(TDD) only, contact Dorothea Thompson

at (202) 452–3544.

SUPPLEMENTARY INFORMATION:

I. Background

The purpose of the Truth in Lending

Act (TILA) (15 U.S.C. 1601 et seq.) is to

promote the informed use of consumer

credit by requiring disclosures about its

terms and cost. The act requires

creditors to disclose the cost of credit as

a dollar amount (the finance charge) and

as an annual percentage rate (the APR).

Uniformity in creditors’ disclosures is

intended to assist consumers in

comparison shopping. The TILA

requires additional disclosures for loans

secured by a consumer’s home and

permits consumers to rescind certain

transactions that involve their principal

dwelling. The act is implemented by the

Board’s Regulation Z (12 CFR Part 226).

The credit transactions covered by

TILA and Regulation Z fall into two

categories—open- or closed-end credit

transactions. Open-end credit is defined

as a plan under which the creditor

reasonably contemplates repeated

transactions, which prescribes the terms

of such transactions, and which

provides for a finance charge that may

be computed from time to time on the

outstanding unpaid balance, for

example, credit extended by means of a

credit card (§ 226.2(a)(20)). Closed-end

credit is defined as any credit

arrangement that does not fall within

the definition of open-end credit

(§ 226.2(a)(10)). A mortgage loan with a

definite maturity date is an example of

closed-end credit.

II. Proposed Regulatory Provisions

Under Regulation Z, the timing and

number of disclosures required for

variable-rate loans vary depending on

the term and security for the loan. For

all variable-rate loans, disclosures are

generally provided once—prior to

consummation. However, if the loan

exceeds a term of one year and is

secured by the consumer’s principal

dwelling, creditors are required to

provide disclosures at three different

times—when an application is received

(or when a nonrefundable fee is paid,

whichever occurs earlier), prior to

consummation, and subsequent to

consummation when certain rate or

payment changes occur. (See Regulation

Z, 12 CFR 226.17(b), 18(f), 19, and

20(c).)

Disclosures provided at application

for a variable-rate mortgage include the

Board-prescribed Consumer Handbook

on Adjustable Rate Mortgages (or a

suitable substitute) and a loan program

disclosure for each variable-rate

program the consumer is interested in.

The loan program disclosure consists of

twelve separate items as they apply to

a variable-rate program, including

information such as the identification of

the index or formula to be used for

adjustments and a fifteen-year historical

example of how changes in the index

values or formula used to compute

interest rates would have affected the

interest rates and payments on a

$10,000 loan.

On September 30, 1996, the Economic

Growth and Regulatory Paperwork

Reduction Act of 1996 (Pub. L. 104–208,

110 Stat. 3009) (1996 amendment)

amended the TILA by providing

creditors the option to give a statement

that the periodic payments may increase

or decrease substantially together with

the maximum interest rate and payment

amount for a $10,000 loan in lieu of the

fifteen-year historical example.

The Board proposes to implement the

TILA amendment as discussed below.

III. Section-by-Section Analysis

Subpart A—General

Section 226.19—Certain Residential

Mortgage Transactions

19(b) Certain variable-rate

transactions. Section 226.19(b) requires

the historical example disclosure for

loans exceeding a term of one year that

are secured by a consumer’s principal

dwelling and where the APR may

increase after consummation (such as

when the rate is tied to an index). The

1996 amendment does not explicitly

limit application of the alternative

disclosure to loans that exceed a term of

one year. The Board believes, however,

that the amendment was intended to

apply only to loans where the fifteenyear historical example is currently

required, namely loans that exceed one

year. Accordingly, the Board proposes

to apply the alternative disclosure

option to variable-rate loans with a term

greater than one year and secured by the

consumer’s principal dwelling.

The 1996 amendment uses the term

‘‘residential mortgage transactions,’’ a
5184 Federal Register / Vol. 62, No. 23 / Tuesday, February 4, 1997 / Proposed Rules

term defined in Regulation Z

(§ 226.2(a)(24)) as credit secured by the

consumer’s principal dwelling to

finance the acquisition or initial

construction of that dwelling. The Board

believes that the Congress did not

intend to limit the flexibility in the 1996

amendment to purchase-money

transactions, but rather intended to

provide this option to all credit

transactions secured by the consumer’s

principal dwelling, given that the

committee report to the 1996

amendment broadly states the

alternative disclosure would be

available to lenders in consumer credit

transactions under closed-end plans.

Paragraph 19(b)(2)(viii) currently sets

forth the required historical example

based on a $10,000 loan amount and

paragraph 19(b)(2)(x) the required

disclosure of the maximum interest rate

and payment for a $10,000 loan. To

make clear that creditors may elect to

provide either of the two disclosures,

paragraph 19(b)(2)(viii) would be

revised. The historical example

requirements are contained in paragraph

(19(b)(2)(viii)(A); the substance of

paragraph 19(b)(2)(x) is redesignated as

19(b)(2)(viii)(B). The proposal provides

that if the creditor chooses to disclose

the maximum interest rate and payment

in lieu of a historical example, a

statement that the periodic payment

may increase or decrease substantially

must accompany the rate and payment

amount. The statement requirement may

be satisfied by the disclosure in

paragraph 19(b)(2)(vi) if it states for

example, ‘‘your monthly payment can

increase or decrease substantially based

on annual changes in the interest rate.’’

Regulation Z currently requires

creditors to disclose a maximum interest

rate using the most recent interest rate

shown in the historical example.

Because the historical example is not

required under the 1996 amendments,

creditors instead must use a ‘‘recent’’

interest rate as determined by the Board.

The Board proposes to require creditors

to calculate the maximum rate and

payment based on an initial rate that

was in effect within one year of the

disclosure. The Board believes that a

more frequent basis for updating the

index or formula would place more

burden on creditors than currently

exists under the regulation and that the

Congress intended to reduce burden

with the alternative. Creditors would

have to calculate the maximum rate and

payment on an initial rate in effect

within one year of the date the loan

program is provided and to disclose the

applicable month and year. For

example, using the information in

appendix H–14, the disclosure could

state ‘‘the initial interest rate is 9.71

percent, the rate in effect January 1987.’’

The Board solicits comment on whether

there are circumstances where there is

consumer benefit in updating the initial

rate more frequently than annually that

would outweigh the compliance burden

of producing the disclosures more

frequently.

IV. Form of Comment Letters

Comment letters should refer to

Docket No. R–0960, and, when possible,

should use a standard courier typeface

with a type size of 10 or 12 characters

per inch. This will enable the Board to

convert the text in machine-readable

form through electronic scanning, and

will facilitate automated retrieval of

comments for review. Also, if

accompanied by an original document

in paper form, comments may be

submitted on 3 1/2 inch or 5 1/4 inch

computer diskettes in any IBMcompatible DOS-based format.

The comment period ends on

February 28, 1997. Normally, the Board

provides a 60-day comment period, in

keeping with the Board’s policy

statement on rulemaking (44 FR 3957,

January 19, 1979). The proposed

regulatory revisions implement changes

in the law that provide regulatory

compliance relief. The Board believes

that an abbreviated comment period is

desirable to ensure that a final rule is in

place as soon as possible to provide

guidance to creditors affected.

V. Regulatory Flexibility Analysis

In accordance with section 3(a) of the

Regulatory Flexibility Act (5 U.S.C.

603), the Board’s Office of the Secretary

has reviewed the proposed amendments

to Regulation Z. Overall, the

amendments are not expected to have

any significant impact on small entities.

The proposed regulatory revisions

required to implement the 1996

amendment reduce the number of

disclosure required for variable-rate

mortgages and ease compliance by

providing creditors with the option of

either providing a fifteen-year historical

example or the maximum payment

example. A final regulatory flexibility

analysis will be conducted after

consideration of comments received

during the public comment period.

VI. Paperwork Reduction Act

In accordance with the Paperwork

Reduction Act of 1995 (44 U.S.C. 3501

et seq.), the Board has reviewed the

proposed amendments under the

authority delegated to the Board by the

Office of Management and Budget. 5

CFR part 1320, Appendix A.1.

Comments on the collection or

disclosure of information associated

with this regulation should be sent to

the Office of Management and Budget,

Paperwork Reduction Project (7100–

0199), Washington, DC 20503, with

copies of such comments to be sent to

Mary M. McLaughlin, Chief, Financial

Reports Section, Division of Research

and Statistics, Mail Stop 97, Board of

Governors of the Federal Reserve

System, Washington, DC 20551.

The respondents are individuals or

businesses that regularly offer or extend

consumer credit. The purpose of the

TILA and Regulation Z is to promote the

informed use of consumer credit by

requiring creditors to disclose its terms

and cost. Records must be retained by

creditors for 24 months. The revisions to

the requirements in this proposed

regulation are found in 12 CFR 226.19

and appendix H.

The Board’s Regulation Z applies to

all types of creditors, not just state

member banks. Under the Paperwork

Reduction Act, however, the Federal

Reserve accounts for the paperwork

burden associated with Regulation Z

only for state member banks. Any

estimates of paperwork burden for

institutions other than state member

banks that would be affected by the

proposed amendments are to be

provided by the federal agency or

agencies that supervise those lenders.

The proposed changes are not

expected to increase the ongoing annual

burden of Regulation Z. There are 1,042

state member banks with an estimated

5,750 disclosures, 6.5 minutes for each

disclosure, for closed-end credit per

state member bank annually. The

proportion of such loans that are

mortgages with an adjustable rate is

estimated to be small. If all state

member banks chose to eliminate the

fifteen-year historical example from all

their disclosures on such loans, the

average time required for each

disclosure would decrease by 2 minutes.

The combined annual burden for all

state member banks under Regulation Z

is estimated to be 1,975,600 hours; the

combined annual cost is estimated to be

$39.5 million (an average of $37,920 per

state member bank). The Federal

Reserve estimates that there would be

associated start-up cost of $160 per

respondent to eliminate either the

fifteen-year historical example or the

maximum payment example.

The disclosures made by creditors to

consumers under Regulation Z are

mandatory. Since the Federal Reserve

does not collect any information, no

issue of confidentiality arises.

Disclosures relating to specific

transactions or accounts are not publicly

available.
Federal Register / Vol. 62, No. 23 / Tuesday, February 4, 1997 / Proposed Rules 5185

Comments are invited on: (a) whether

the proposed revised collection of

information is necessary for the proper

performance of the Federal Reserve’s

functions; including whether the

information has practical utility; (b) the

accuracy of the Federal Reserve’s

estimate of the burden of the proposed

disclosures, including the cost of

compliance; (c) ways to enhance the

quality, utility, and clarity of the

information disclosures; and (d) ways to

minimize the burden of information

disclosures on respondents, including

through the use of automated

techniques or other forms of information

technology.

An agency may not collect or sponsor

the collection or disclosure of

information, and an organization is not

required to collect or disclose

information unless a currently valid

OMB control number is displayed. The

OMB control number for Regulation Z is

7100–0199.

List of Subjects in 12 CFR Part 226

Advertising, Federal Reserve System,

Mortgages, Reporting and recordkeeping

requirements, Truth in lending.

Text of Proposed Revisions

Certain conventions have been used

to highlight the proposed revisions to

the regulation. New language is shown

inside bold-faced arrows, while

language that would be deleted is set off

with bold-faced brackets.

For the reasons set forth in the

preamble, the Board proposes to amend

12 CFR Part 226 as follows:

PART 226—TRUTH IN LENDING

(REGULATION Z)

1. The authority citation for part 226

continues to read as follows:

Authority: 12 U.S.C. 3806; 15 U.S.C. 1604

and 1637(c)(5).

2. Section 226.19 would be amended

by:

a. Republishing the introductory text

of paragraph (b)(2);

b. Revising paragraph (b)(2)(viii);

c. Removing paragraph (b)(2)(x); and

d. Redesignating paragraphs (b)(2)(xi),

(b)(2)(xii), and (b)(2)(xiii) as paragraphs

(b)(2)(x), (b)(2)(xi) and (b)(2)(xii)

respectively.

The revisions would read as follows:

§ 226.19 Certain residential mortgage and

variable-rate transactions.

* * * * *

(b) Certain variable-rate transactions.

* * *

* * * * *

(2) A loan program disclosure for each

variable-rate program in which the

consumer expresses an interest. The

following disclosures, as applicable,

shall be provided:

* * * * *

(viii) Either of the following:

(A) An historical example, based on a

$10,000 loan amount, illustrating how

payments and the loan balance would

have been affected by interest rate

changes implemented according to the

terms of the loan program. The example

shall be based upon index values

beginning in 1977 and be updated

annually until a 15-year history is

shown. Thereafter, the example shall

reflect the most recent 15 years of index

values. The example shall reflect all

significant loan program terms, such as

negative amortization, interest rate

carryover, interest rate discounts, and

interest rate and payment limitations,

that would have been affected by the

index movement during the period.

(B) The maximum interest rate and

payment for a $10,000 loan assuming

the maximum periodic increases in rates

and payments under the program; the

initial interest rate and payment for that

loan along with the month and year the

rate was in effect (based on a rate in

effect within one year of the date the

disclosures are provided); and a

statement that the periodic payment

may increase or decrease substantially

depending on changes in the rate.

* * * * *

[(x) The maximum interest rate and

payment for a $10,000 loan originated at

the most recent interest rate shown in

the historical example assuming the

maximum periodic increases in rates

and payments under the program; and

the initial interest rate and payment for

that loan.]

[(xi)] (x) The fact that the loan

program contains a demand feature.

[(xii)] (xi) The type of information that

will be provided in notices of

adjustments and the timing of such

notices.

[(xiii)](xii) A statement that disclosure

forms are available for the creditor’s

other variable-rate loan programs.

3. In part 226, Appendix H is

amended by revising the three

paragraphs preceding the example in

the H–14 Variable-Rate Mortgage

Sample to read as follows:

Appendix H to Part 226—Closed-end

Model Forms and Clauses

* * * * *

H–14 Variable-Rate Mortgage Sample

* * * * *

How Your Monthly Payment Can Change

• Your monthly payment can [change

yearly] increase or decrease substantially

based on annual changes in the interest rate.

• For example, on a $10,000, 30-year loan

with an initial interest rate of 9.71 percent

the rate [shown in the interest rate column

below for the year 1987] in effect in January

1987, the maximum amount that the interest

rate can rise under this program is 5

percentage points, to 14.71 percent, and the

monthly payment can rise from a first-year

payment of $85.62 to a maximum of $123.31

in the fourth year.

• You will be notified in writing 25 days

before the annual payment adjustment may

be made. This notice will contain

information about your interest rates,

payment amount and loan balance.

* * * * *

4. In Supplement I to Part 226, under

Section 226.19—Certain Residential

Mortgage and Variable-Rate

Transactions, under paragraph 19(b)

Certain variable-rate transactions, the

following amendments would be made:

a. The heading ‘‘Paragraph

19(b)(2)(viii)’’ would be revised to read

‘‘Paragraph 19(b)(2)(viii)(A);’’

b. The heading ‘‘Paragraph

19(b)(2)(x)’’ would be revised to read

‘‘Paragraph 19(b)(2)(viii)(B)’’ and the

paragraph heading and text are

transferred immediately preceding

Paragraph 19(b)(2)(ix).

c. Paragraph 1, under the heading

‘‘Paragraph 19(b)(2)(viii)(B)’’ would be

revised.

d. The heading ‘‘Paragraph

19(b)(2)(xi)’’ would be revised to read

‘‘Paragraph 19(b)(2)(x).’’

e. The heading ‘‘Paragraph

19(b)(2)(xii)’’ would be revised to read

‘‘Paragraph 19(b)(2)(xi).’’

f. The heading ‘‘Paragraph

19(b)(2)(xiii)’’ would be revised to read

‘‘Paragraph 19(b)(2)(xii).’’

The revisions would read as follows:

Supplement I–Official Staff Interpretations

* * * * *

SUBPART C—CLOSED–END CREDIT

* * * * *

Section 226.19—Certain Residential

Mortgage Transactions

* * * * *

19(b) Certain variable-rate transactions

* * * * *

Paragraph 19(b)(2)(viii)(A)

* * * * *

Paragraph 19(b)(2)[(x)](viii)(B)

1. Initial and maximum interest rate and

payment. The disclosure form must state the

initial and maximum interest rates and

payments for a $10,000 loan originated at the

most recent interest rate (index value plus

margin) [shown in the historical example] in

effect within one year of the date the

disclosure is provided. The month and year

the rate is effective must be included in the

disclosure. In calculating the maximum

payments under this paragraph, a creditor

should assume that the interest rate increases
5186 Federal Register / Vol. 62, No. 23 / Tuesday, February 4, 1997 / Proposed Rules

as rapidly as possible under the loan

program, and the maximum payment

disclosed should reflect the amortization of

the loan during this period. Thus, in a loan

with 2 percentage point annual (and 5

percentage point overall) interest rate

limitations or ‘‘caps,’’ the maximum interest

rate would be 5 percentage points higher

than the [most recent rate shown in the

historical example] initial rate disclosed.

Moreover, the loan would not reach the

maximum interest rate until the fourth year

because of the 2 percentage point annual rate

limitations, and the maximum payment

disclosed would reflect the amortization of

the loan during this period. If the loan

program includes a discounted or premium

initial interest rate, the [most recent rate

shown in the historical example] initial rate

should be adjusted by the amount of the

discount or premium reflected elsewhere in

the disclosure for purposes of the

requirements of this paragraph. Furthermore,

this disclosure should state the amount by

which the most recent rate has been adjusted.

(see the commentary to § 226.19(b)(2)(viii)

regarding disclosure of the amount of a

discount or premium.) The creditor may use

an interest rate applicable to the program that

is more recent than the [latest rate shown in

the historical example] initial rate.

* * * * *

Paragraph 19(b)(2)[(xi)](x)

* * * * *

Paragraph 19(b)(2)[(xii)] (xi)

* * * * *

Paragraph 19(b)(2)[(xiii)] (xii)

* * * * *

5. In Supplement I to Part 226, all

references to ‘‘section 226.19(b)(2)(viii)’’

are revised to read ‘‘section

226.19(b)(2)(viii)(A)’’.

6. In Supplement I to Part 226, all

references to ‘‘comment 19(b)(2)(viii)’’

are revised to read ‘‘comment

19(b)(2)(viii)(A)’’.

7. In Supplement I to Part 226, all

references to ‘‘section 226.19(b)(2)(x)’’

are revised to read ‘‘section

226.19(b)(2)(viii)(B)’’.

8. In Supplement I to Part 226, all

references to ‘‘comment 19(b)(2)(x)’’ are

revised to read ‘‘comment

19(b)(2)(viii)(B)’’.

9. In Supplement I to Part 226,

Appendix H—Closed-End Model Forms

and Clauses, Paragraph 18, would be

amended by removing the fourth

through the eighth sentences and adding

seven new sentences in their place to

read as follows:

* * * * *

Appendix H—Closed-End Model Forms, and

Clauses

* * * * *

18. Sample H–14. * * * It includes

information on how the interest rate is

determined and how it can change over

time[, and]. Section 226.19(b)(2)(viii) permits

creditors to provide either an historical

example or an initial rate and maximum rate

and payment example; both are illustrated in

the sample disclosure. The historical

example explains how the monthly payment

can change based on a $10,000 loan amount,

payable in 360 monthly installments, based

on historical changes in the values for the

weekly average yield on U.S. treasury

securities adjusted to a constant maturity of

one year. Index values are measured as of the

first week ending in July for the years 1977

through 1987. This reflects the requirement

that the index history be based on values for

the same date or period each year beginning

with index values for 1977. The [sample

disclosure also illustrates the requirement

under § 226.19(b)(2)(x) that the] initial and

the maximum interest rates and payments

[be] are shown for a $10,000 loan originated

at the most recent rate [shown in the

historical example] in effect within one year

of the date the loan program is provided

along with the month and year the rate was

in effect. In the sample, the loan is assumed

to have an initial interest rate of 9.71 percent

(which was the interest rate in [1987 for the

example shown] in effect January 1987) and

to have 2 percentage point annual (and 5

percentage point overall) interest rate

limitations or caps. * * *

* * * * *

By order of the Board of Governors of the

Federal Reserve System, January 24, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–2293 Filed 2–3–97; 8:45 am]

BILLING CODE 6210–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 96–SW–23–AD]

Airworthiness Directives; Eurocopter

Deutschland GmbH Model MBB–BK

117 A–1, A–3, A–4, B–1, B–2 and C–1

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

Eurocopter Deutschland GmbH

(Eurocopter) Model MBB–BK 117 A–1,

A–3, A–4, B–1, B–2, and C–1

helicopters. This proposal would

establish a new retirement life for the

clutch and would require an entry into

the Accessory Replacement Record

indicating the new life limit. This

proposal is prompted by a recalculation

of life limitations by the part

manufacturer, Warner Electric. The

clutch manufacturer used the airframe

load spectrum to establish the new life

limit of 3,600 hours time-in-service

(TIS). The actions specified by the

proposed AD are intended to prevent

failure of the clutch, loss of power to the

main rotor and a subsequent forced

landing of the helicopter.

DATES: Comments must be received by

April 7, 1997.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Office of the

Assistant Chief Counsel, Attention:

Rules Docket No. 96–SW–23–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

American Eurocopter Corporation, 2701

Forum Drive, Grand Prairie, Texas

75053–4005.

FOR FURTHER INFORMATION CONTACT:

Mr. Lance T. Gant, Aerospace Engineer,

FAA, Rotorcraft Standards Staff,

Rotorcraft Directorate, 2601 Meacham

Blvd., Fort Worth, Texas 76137;

telephone (817) 222–5114, 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. 96–SW–23–AD.’’ The