46872 Federal Register / Vol. 62, No. 172 / Friday, September 5, 1997 / Rules and Regulations

§ 1737.70 [Amended]

15. In § 1737.70, paragraph (d) is

removed and reserved.

PART 1739—[REMOVED]

16. Part 1739 is removed.

PART 1746—[REMOVED]

17. Part 1746 is removed.

Dated: August 28, 1997.

Inga Smulkstys,

Acting Under Secretary, Rural Development.

[FR Doc. 97–23580 Filed 9–4–97; 8:45 am]

BILLING CODE 3410–15–P

FEDERAL HOUSING FINANCE BOARD

12 CFR Part 936

[No. 97–56]

RIN 3069–AA35

Technical Amendment to the

Community Support Requirement

AGENCY: Federal Housing Finance

Board.

ACTION: Final rule.

SUMMARY: The Federal Housing Finance

Board (Finance Board) is amending its

regulation on the community support

requirement to allow every Federal

Home Loan Bank (FHLBank) member to

provide all of the information necessary

to apply to the Finance Board to remove

restrictions on access to long-term

advances that may adversely affect the

member’s safety and soundness.

EFFECTIVE DATE: The final rule will

become effective October 6, 1997.

FOR FURTHER INFORMATION CONTACT:

Penny S. Bates, Program Analyst,

Community Support Program, Office of

Policy, 202/408–2574, or Janice A. Kaye,

Attorney-Advisor, Office of General

Counsel, 202/408–2505, Federal

Housing Finance Board, 1777 F Street,

N.W., Washington, D.C. 20006.

SUPPLEMENTARY INFORMATION:

I. Statutory and Regulatory Background

Section 10(g)(1) of the Federal Home

Loan Bank Act (Bank Act) requires the

Finance Board to promulgate

regulations establishing standards of

community investment or service that

FHLBank members must meet in order

to maintain access to long-term

advances. See 12 U.S.C. 1430(g)(1). The

regulations promulgated by the Finance

Board must take into account factors

such as the FHLBank member’s

performance under the Community

Reinvestment Act of 1977 (CRA), 12

U.S.C. 2901, et seq., and record of

lending to first-time homebuyers. See 12

U.S.C. 1430(g)(2). In May 1997, the

Finance Board published a final

community support requirement rule

establishing uniform standards and

review criteria for determining

compliance with section 10(g) of the

Bank Act. See 62 FR 28983 (May 29,

1997). The streamlined community

support requirement rule became

effective on June 30, 1997. See id.

II. Analysis of the Technical

Amendment

Section 936.5(d)(1)(i) of the

community support requirement

regulation authorizes the Finance Board,

in its sole discretion, to remove a

restriction on access to long-term

advances imposed under this part if it

determines that application of the

restriction may adversely affect the

safety and soundness of the member.

See 12 CFR 936.5(d)(1)(i). The rule

permits a member to submit a detailed

written request to the Finance Board to

remove a restriction. See id. The

member’s request must include a

statement from its appropriate federal

financial supervisory agency that

application of the restriction may

adversely affect the safety and

soundness of the member. For purposes

of the community support requirement

rule, the term ‘‘appropriate federal

financial supervisory agency’’ means the

Office of the Comptroller of the

Currency for national banks; the Board

of Governors of the Federal Reserve

System for state chartered banks that are

members of the Federal Reserve System

and bank holding companies; the

Federal Deposit Insurance Corporation

for state chartered banks and savings

banks that are not members of the

Federal Reserve System and the

deposits of which are insured by the

Federal Deposit Insurance Corporation;

and the Office of Thrift Supervision for

savings associations the deposits of

which are insured by the Federal

Deposit Insurance Corporation and

savings and loan holding companies. Id.

§ 936.1(e).

Since the regulatory definition is the

same as the one provided for purposes

of the CRA, see 12 U.S.C. 2902(1), it

does not include the primary regulators

of a federally insured credit union

member that is not subject to the CRA

or a FHLBank member that is subject to

supervision only by a state regulator.

Thus, such members would be unable to

provide all of the information required

to make a request to the Finance Board

for removal of a restriction on access to

long-term advances based on safety and

soundness concerns. In order to correct

this oversight, the Finance Board is

amending § 936.5(d)(1)(i) to permit a

FHLBank member that is not subject to

supervision by an appropriate federal

financial supervisory agency to submit a

statement concerning the adverse affects

on safety and soundness of a restriction

on long-term advances from the

National Credit Union Administration

or its primary state regulator, as

appropriate.

III. Notice and Public Participation

The notice and comment procedure

required by the Administrative

Procedure Act is unnecessary in this

instance because the final rule makes

only a minor technical change to a

recently promulgated rule. See 5 U.S.C.

553(b)(3)(B).

IV. Regulatory Flexibility Act

The Finance Board is adopting this

technical amendment in the form of a

final rule and not as a proposed rule.

Therefore, the provisions of the

Regulatory Flexibility Act do not apply.

See id. 601(2), 603(a).

V. Paperwork Reduction Act

This final rule does not contain any

collections of information pursuant to

the Paperwork Reduction Act of 1995.

See 44 U.S.C. 3501 et seq. Consequently,

the Finance Board has not submitted

any information to the Office of

Management and Budget for review.

List of Subjects in 12 CFR Part 936

Credit, Federal home loan banks,

Housing, Reporting and recordkeeping

requirements.

Accordingly, the Federal Housing

Finance Board hereby amends title 12,

chapter IX, part 936 of the Code of

Federal Regulations to read as follows:

PART 936—COMMUNITY SUPPORT

REQUIREMENTS

1. The authority citation for part 936

continues to read as follows:

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

1422b(a)(1), 1429, and 1430.

2. Revise § 936.5(d)(1)(i) to read as

follows:

§ 936.5 Restrictions on access to longterm advances.

* * * * *

(d) * * *

(1) * * *

(i) If the Finance Board determines

that application of the restriction may

adversely affect the safety and

soundness of the member. A member

may submit a written request to the

Finance Board to remove a restriction

on access to long-term advances under

this paragraph (d)(1)(i). Such written
Federal Register / Vol. 62, No. 172 / Friday, September 5, 1997 / Rules and Regulations 46873

request shall contain a clear and concise

statement of the basis for the request,

and a statement that application of the

restriction may adversely affect the

safety and soundness of the member

from the member’s appropriate federal

financial supervisory agency, or the

National Credit Union Administration

for a federally insured credit union

member, or the member’s appropriate

state regulator for a member that is not

subject to regulation or supervision by

a federal regulator. The Finance Board

shall consider each written request

within 30 calendar days of receipt. For

purposes of this paragraph (d)(1)(i), the

term appropriate state regulator means

any state officer, agency, supervisor, or

other entity that has regulatory authority

over, or is empowered to institute

enforcement action against, a member.

* * * * *

Dated: August 28, 1997.

By the Board of Directors of the Federal

Housing Finance Board.

Bruce A. Morrison,

Chairperson.

[FR Doc. 97–23510 Filed 9–4–97; 8:45 am]

BILLING CODE 6725–01–U

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 97–AWP–3]

Establishment of Class E Airspace;

South Lake Tahoe, CA

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Final rule.

SUMMARY: This action establishes a Class

E airspace area South Lake Tahoe, CA.

The development of a Global

Positioning System (GPS) Runway

(RWY) 18 Standard Instrument

Approach Procedure (SIAP) has made

this action necessary. The intended

effect of this action is to provide

adequate controlled airspace for

Instrument Flight Rules (IFR) operations

at Lake Tahoe Airport, South Lake

Tahoe, CA.

EFFECTIVE DATE: 0901 UTC November 6,

1997.

FOR FURTHER INFORMATION CONTACT:

Larry Tonish, Airspace Specialist,

Airspace Branch, AWP–520, Air Traffic

Division, Western-Pacific Region,

Federal Aviation Administration, 15000

Aviation Boulevard, Lawndale,

California 90261, telephone (310) 725–

6555.

SUPPLEMENTARY INFORMATION:

History

On June 9, 1997, the FAA proposed to

amend part 71 of the Federal Aviation

Regulations (14 CFR part 71) by

establishing a Class E airspace area at

South Lake Tahoe, CA (62 FR 31373).

This action will provide adequate

controlled airspace to accommodate a

GPS RWY 18 SIAP at Lake Tahoe

Airport, South Lake Tahoe, CA.

Interested parties were invited to

participate in this rulemaking

proceeding by submitting written

comments on the proposal to the FAA.

No comments to the proposal were

received. Class E airspace designations

are published in paragraph 6005 of FAA

Order 7400.9D dated September 4, 1996,

and effective September 16, 1996, which

is incorporated by reference in 14 CFR

71.1. The Class E airspace designations

listed in this document will be

published subsequently in the Order.

The Rule

This amendment to part 71 of the

Federal Aviation Regulations (14 CFR

part 71) establishes a Class E airspace

area at South Lake Tahoe, CA. The

development of a GPS SIAP has made

this action necessary. The effect of this

action will provide adequate airspace

for aircraft executing the GPS RWY 18

SIAP at Lake Tahoe Airport, South Lake

Tahoe, CA.

The FAA has determined that this

regulation only involves an established

body of technical regulations for which

frequent and routine amendments are

necessary to keep them operationally

current. Therefore, this regulation—(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 10034; 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 will not have

a significant economic impact on a

substantial number of small entities

under the criteria of the Regulatory

Flexibility Act.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference,

Navigation (air).

Adoption of the Amendment

In consideration of the foregoing, the

Federal Aviation Administration

amends 14 CFR part 71 as follows:

PART 71—[AMENDED]

1. The authority citation for 14 CFR

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; 14 CFR 11.69.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9D, Airspace

Designations and Reporting Points,

dated September 4, 1996, and effective

September 16, 1996, is amended as

follows:

Paragraph 6005 Class E airspace area

extending upward from 700 feet or more

above the surface of the earth.

* * * * *

AWP CA E5 South Lake Tahoe, CA [New]

Lake Tahoe Airport, CA

(Lat. 38°53′38′′ N, long. 119°59′43′′ W)

That airspace extending upward from 700

feet above the surface within a 6-mile radius

of Lake Tahoe Airport and within 2 miles

each side of the 008° bearing from the Lake

Tahoe Airport extending from the 6-mile

radius to 9.8 miles north of the Lake Tahoe

Airport.

* * * * *

Issued in Los Angeles, California, on

August 5, 1997.

Thomas L. Parks,

Acting Manager, Air Traffic Division,

Western-Pacific Region.

[FR Doc. 97–23605 Filed 9–4–97; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 97–AWP–22]

Amendment of Class E Airspace;

Mammoth Lakes, CA

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Final rule.

SUMMARY: This action amends the Class

E airspace area at Mammoth Lakes, CA.

The development of a Global

Positioning System (GPS) Standard

Instrument Approach Procedure (SIAP)

to Runway (RWY) 27 has made this

action necessary. The intended effect of

this action is to provide adequate

controlled airspace for Instrument Flight

Rules (IFR) operations at Mammoth

Lakes Airport, Mammoth Lakes, CA.

EFFECTIVE DATE: 0901 UTC November

06, 1997.

FOR FURTHER INFORMATION CONTACT: