55758 Federal Register / Vol. 62, No. 204 / Wednesday, October 22, 1997 / Rules and Regulations

October 1996 proposed rule that we

would incorporate the provisions of

§ 76.18, ‘‘Approval of Livestock

Markets,’’ into the single agreement in

§ 71.20 with four exceptions, three of

which were related to the now-removed

hog cholera regulations and one that

dealt with recordkeeping. We have

found that we failed to include one of

the disease prevention requirements of

§ 76.18—i.e., that the pens, alleys, and

sales rings for holding, inspecting, and

otherwise handling swine in an

approved market for swine must be

imperviously surfaced—when we

incorporated the agreement from § 76.18

into the single agreement in § 71.20. To

correct that omission, we have amended

the swine-specific provisions of the

approved livestock facility agreement in

§ 71.20(a) to restore the impervious

surface requirement.

List of Subjects

9 CFR Part 71

Animal diseases, Livestock, Poultry

and poultry products, Quarantine,

Reporting and recordkeeping

requirements, Transportation.

9 CFR Part 78

Animal diseases, Bison, Cattle, Hogs,

Quarantine, Reporting and

recordkeeping requirements,

Transportation.

Accordingly, 9 CFR parts 71 and 78

are amended as follows:

PART 71—GENERAL PROVISIONS

1. The authority citation for part 71

continues to read as follows:

Authority: 21 U.S.C. 111–113, 114a, 114a–

1, 115–117, 120–126, 134b, and 134f; 7 CFR

2.22, 2.80, and 371.2(d).

2. In § 71.1, the definition of official

eartag is revised to read as follows:

§ 71.1 Definitions.

* * * * *

Official eartag. An identification

eartag approved by APHIS as being

tamper-resistant and providing unique

identification for each animal. An

official eartag may conform to the alphanumeric National Uniform Eartagging

System, or it may bear a valid premises

identification number that is used in

conjunction with the producer’s

livestock production numbering system

to provide a unique identification

number.

* * * * *

3. In § 71.3, a new paragraph (c)(4) is

added to read as follows:

§ 71.3 Interstate movement of diseased

animals and poultry generally prohibited.

* * * * *

(c) * * *

(4) Swine infected with or exposed to

pseudorabies may be moved interstate

in accordance with part 85 of this

chapter.

* * * * *

4. In § 71.19, paragraph (b)(7) is

revised to read as follows:

§ 71.19 Identification of swine in interstate

commerce.

* * * * *

(b) * * *

(7) For slaughter swine and feeder

swine, an eartag or tattoo bearing the

premises identification number assigned

by the State animal health official to the

premises on which the swine originated.

* * * * *

5. In § 71.20, paragraph (a), in the

sample agreement, paragraphs (15)(ii)

through (15)(v) are redesignated as

paragraphs (15)(iii) through (15)(vi) and

a new paragraph (15)(ii) is added to read

follows:

§ 71.20 Approval of livestock facilities.

(a) * * *

(15) * * *

(ii) Pens, alleys, and sales rings for

holding, inspecting, and otherwise

handling swine shall be imperviously

surfaced.

* * * * *

PART 78—BRUCELLOSIS

6. The authority citation for part 78

continues to read as follows:

Authority: 21 U.S.C. 111–114a–1, 114g,

115, 117, 120, 121, 123–126, 134b, and 134f;

7 CFR 2.22, 2.80, and 371.2(d).

7. In § 78.1, the definition of official

eartag is revised to read as follows:

§ 78.1 Definitions.

* * * * *

Official eartag. An identification

eartag approved by APHIS as being

tamper-resistant and providing unique

identification for each animal. An

official eartag may conform to the alphanumeric National Uniform Eartagging

System, or it may bear a valid premises

identification number that is used in

conjunction with the producer’s

livestock production numbering system

to provide a unique identification

number.

* * * * *

Done in Washington, DC, this 14th day of

October 1997.

Craig M. Reed,

Acting Administrator, Animal and Plant

Health Inspection Service.

[FR Doc. 97–27953 Filed 10–21–97; 8:45 am]

BILLING CODE 3410–34–P

DEPARTMENT OF AGRICULTURE

Food Safety and Inspection Service

9 CFR Parts 318 and 381

[Docket No. 95–032F]

RIN 0583–AB93

Elimination of Prior Approval

Requirements for Establishment

Drawings and Specifications,

Equipment, and Certain Partial Quality

Control Programs; Correction

AGENCY: Food Safety and Inspection

Service, USDA.

ACTION: Correction to final rule.

SUMMARY: This document contains

corrections to the final rule (Docket No.

95–032F) which was published

Monday, August 25, 1997 (62 FR

45016). The final rule concerned the

elimination of prior approval

requirements for establishment

drawings and specifications, equipment,

and certain partial quality control

programs.

EFFECTIVE DATE: October 22, 1997.

FOR FURTHER INFORMATION CONTACT:

Patricia F. Stolfa, Assistant Deputy

Administrator, Office of Policy, Program

Development, and Evaluation, FSIS,

Room 402 Annex Building, Washington

DC 20250–3700: (202) 205–0699.

SUPPLEMENTARY INFORMATION:

Background

The final rule that is the subject of

these corrections eliminates

requirements for establishments

applying for inspection to submit to

FSIS multiple sets of drawings and

specifications of facilities for the

preparation of meat or poultry products.

The final rule also eliminates

requirements for Agency prior approval

of equipment and utensils to be used in

preparing edible product and of most

partial quality control programs used for

the control of food processing or for

other purposes.

Need for Correction

As published, the final rule contained

errors rendering the regulatory text

inconsistent with the preamble

explanation.

Correction of Publication

Accordingly, the publication on

August 25, 1997, of the final rule

(Docket No. 95–032F), which was the

subject of FR Doc. 97–21882, is

corrected as follows:

§ 318.4 [Corrected]

Paragraph 1. On page 45025, in the

second column, in § 318.4, in the
Federal Register / Vol. 62, No. 204 / Wednesday, October 22, 1997 / Rules and Regulations 55759

1 62 FR 15626 (April 2, 1997). (Notice of Proposed

Rulemaking on Deposits and Advance Notice of

Proposed Rulemaking on Electronic Banking). OTS

has separately published a proposed rule on

Electronic Banking. 62 FR 51817 (October 3, 1997).

2Regulation D addresses the Reserve

Requirements of Depository Institutions. 12 CFR

part 204 (1997). Regulation DD implements the

Truth in Savings Act (TISA). 12 CFR part 230

(1997).

paragraph (g) heading, the word

‘‘Establishment’’ is corrected to read

‘‘Plant’’.

* * * * *

§ 381.145 [Corrected]

Paragraph 1. On page 45026, in the

third column, the § 381.145 heading is

corrected to read ‘‘Poultry products and

other articles entering or at official

establishments; examination and other

requirements.’’

Paragraph 2. On page 45027, in the

first column, in § 381.145, the paragraph

(g) heading is corrected to read

‘‘Termination of Quality Control

Systems’’.

* * * * *

Dated: October 10, 1997.

Thomas J. Billy,

Administrator.

[FR Doc. 97–27926 Filed 10–21–97; 8:45 am]

BILLING CODE 3410–10–P

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Parts 506, 545, 556, 557, 561,

563, 563g

[No. 97–108]

RIN 1550–AB00

Deposits

AGENCY: Office of Thrift Supervision,

Treasury.

ACTION: Final rule.

SUMMARY: The Office of Thrift

Supervision (OTS) is issuing a final rule

streamlining its deposit-related

regulations. The final rule will eliminate

duplicative, overlapping, and outdated

regulations, and those that micromanage

savings associations. The final rule also

codifies the OTS position on federal

preemption of state laws affecting

deposit-related activities.

EFFECTIVE DATE: January 1, 1998.

FOR FURTHER INFORMATION CONTACT:

Edward J. O’Connell, III, Project

Manager, (202) 906–5694, Supervision

Policy; Robyn H. Dennis, Manager,

Thrift Policy, (202) 906–5751; Christine

Harrington, Counsel (Banking and

Finance), (202) 906–7957; or Karen

Osterloh, Assistant Chief Counsel, (202)

906-6639, Regulations and Legislation

Division, Chief Counsel’s Office, Office

of Thrift Supervision, 1700 G Street,

NW., Washington, D.C. 20552.

SUPPLEMENTARY INFORMATION:

I. Background of the Proposal

OTS published a notice of proposed

rulemaking (NPR) on April 2, 1997

proposing to amend its deposit-related

regulations.1 The NPR proposed to

streamline the regulations by

eliminating duplicative, overlapping,

and outdated regulations, and those that

micromanage savings associations.

Additionally, OTS sought to codify its

long-standing position on federal

preemption of state laws affecting

deposit-related activities. Finally, OTS

proposed to remove regulations that

merely restate existing statutory

authority or universally recognized

incidental deposit-related powers.

With these goals in mind, OTS

proposed to consolidate all remaining

deposit-related regulations in a new part

557. OTS predicted that this change

would make deposit-related regulations

easier to locate and follow. OTS issued

the NPR pursuant to the Regulatory

Reinvention Initiative of the Vice

President’s National Performance

Review and section 303 of the Riegle

Community Development and

Regulatory Improvement Act of 1994.

II. General Discussion of the Comments

Eight commenters responded to the

NPR including five federal thrift

institutions and three trade associations.

The commenters generally supported

the proposal to remove unnecessary,

duplicative, or outdated regulations.

They specifically endorsed the removal

of OTS regulations duplicating areas

covered by the Federal Reserve Board’s

(FRB) Regulation D and Regulation DD.2

Commenters also generally endorsed the

proposed consolidation of the remaining

deposit-related regulations at new part

557. Comments addressing specific

regulations are discussed in the sectionby-section analysis below.

III. Section-by-Section Analysis

A. Disposition of Existing DepositRelated Regulations

The OTS proposed to delete certain

existing regulations, and consolidate the

remaining relevant provisions in a new

part. Sections proposed for deletion

included: § 545.10 (Savings Deposits or

Shares); § 545.11 (Issuance of Accounts);

§ 545.12 (Demand Deposit Accounts);

§ 545.13 (Account Records); § 545.14

(Determination and Distribution of

Earnings); § 556.12 (Deposit Assurance

of Direct Deposit of Social Security

Payments); § 563.2 (Simple Form of

Certificate; Passbooks); § 563.3 (Long

Form of Membership Certificate);

§ 563.6 (Payment of Accounts on

Demand); § 563.7 (Fixed-Term

Accounts); § 563.9 (Eurodollar

Deposits); and § 563.10 (Earnings-Based

Accounts).

OTS received comments supporting

the deletion of most of the cited

sections. These sections are deleted as

proposed. Comments opposing the

deletion of specific sections, however,

are discussed below. Comments

received on existing provisions that

were retained and incorporated into the

new part 557 are discussed in

connection with the relevant section

under that part. A derivation chart has

been provided at the end of this

preamble.

OTS emphasizes that the changes

made in this final rule are not intended

to reduce, in any way, the scope of

federal thrifts’ authority to conduct

deposit activities.

Section 545.12 Demand Deposit

Accounts. Existing § 545.12(b) prohibits

a federal association from paying

interest on demand deposits and

specifically states that finders’ fees, as

defined in § 561.16(b), are not interest.

OTS proposed to delete this paragraph

and to include the finders’ fees

exception in the Thrift Activities

Handbook (‘‘Handbook’’). One

commenter supported retaining the

finders’ fee provisions in OTS

regulations. This commenter argued that

the Handbook would not override the

statutory prohibition on interest on

demand deposits at 12 U.S.C.

1464(b)(1)(B)(i), and feared that the

Handbook may not be issued until after

the effective date of the new deposit

regulation. Another commenter

supported deleting the finders’ fee

provision.

OTS regulations at § 561.16 define

‘‘demand accounts’’ for the purposes of

12 U.S.C. 1464(b) and the implementing

regulations. This definition specifically

states that fees paid by a savings

association to a person who introduces

a depositor to the savings association

shall not be deemed an interest

payment, if the fee meets certain

criteria. OTS believes this definition is

sufficient to qualify for the statutory

prohibition. Accordingly, the final rule

deletes § 545.12(b) as proposed.

Like section 5 of the HOLA, section

11 of the Banking Act of 1933 (12 U.S.C.

371a) and section 18(g) of the Federal

Deposit Insurance Act (12 U.S.C.

1828(g)) prohibit the payment of interest

on demand deposits. The Federal

Reserve Board (FRB) and the Federal

Deposit Insurance Corporation (FDIC)