61622 Federal Register / Vol. 62, No. 223 / Wednesday, November 19, 1997 / Rules and Regulations

Report of Transaction Accounts, Other

Deposits and Vault Cash (FR 2900).

After the indexations become effective

in 1998, all other institutions that have

reservable liabilities in excess of the

exemption level of $4.7 million

prescribed by section 19(b)(11) of the

Federal Reserve Act (known as

‘‘nonexempt institutions’’) and total

deposits at least equal to the nonexempt

deposit cutoff level ($78.9 million) will

be required to file weekly the Report of

Transaction Accounts, Other Deposits

and Vault Cash (FR 2900) for the twelve

month period starting September 1998.

However, nonexempt institutions with

total deposits less than the nonexempt

deposit cutoff level ($78.9 million), will

be able to file the FR 2900 quarterly.

Institutions that obtain funds from nonU.S. sources or that have foreign

branches or international banking

facilities are required to file the Report

of Certain Eurocurrency Transactions

(FR 2950/2951) at the same frequency as

they file the FR 2900.

Institutions with reservable liabilities

at or below the exemption level ($4.7

million) (known as exempt institutions)

will be required to file the Quarterly

Report of Selected Deposits, Vault Cash,

and Reservable Liabilities (FR 2910q) if

their total deposits equal or exceed the

exempt deposit cutoff level ($50.7

million). Exempt institutions with total

deposits less than the exempt deposit

cutoff level ($50.7 million) but at least

equal to the exemption amount ($4.7

million) will be able to file the Annual

Report of Total Deposits and Reservable

Liabilities (FR 2910a). Institutions that

have total deposits less than the

exemption amount ($4.7 million) are not

required to file deposit reports if their

deposits can be estimated from other

data sources.

Finally, the Board may require a

depository institution to report on a

weekly basis, regardless of the cutoff

level, if the institution manipulates its

total deposits and other reservable

liabilities in order to qualify for

quarterly reporting. Similarly, any

depository institution that reports

quarterly may be required to report

weekly and to maintain appropriate

reserve balances with its Reserve Bank

if, during its computation period, it

understates its usual reservable

liabilities or overstates the deductions

allowed in computing required reserve

balances.

Notice and Public Participation

The provisions of 5 U.S.C. 553(b)

relating to notice and public

participation have not been followed in

connection with the adoption of these

amendments because the amendments

involve expected, ministerial

adjustments prescribed by statute and

by an interpretative statement

reaffirming the Board’s policy

concerning reporting practices.

Moreover, the low reserve tranche

adjustment and the reservable liabilities

exemption adjustment are required to be

effective for the next calendar year even

though the data which they are required

to reflect are only available late in the

prior year. In addition, the reservable

liabilities exemption adjustment and the

increases for reporting purposes in the

deposit cutoff levels reduce regulatory

burdens on depository institutions, and

the low reserve tranche adjustment will

have a de minimis effect on depository

institutions with net transaction

accounts exceeding $47.8 million.

Accordingly, the Board finds good cause

for determining, and so determines, that

notice and public participation is

unnecessary, impracticable, or contrary

to the public interest.

The provisions of 5 U.S.C. 553(d)

relating to notice of the effective date of

a rule have not been followed in

connection with the adoption of these

amendments because the low reserve

tranche adjustment and the reservable

liabilities adjustment are expected,

ministerial amendments prescribed by

statute. Moreover, they are required to

be effective for the next calendar year

even though the data which they are

required to reflect are only available late

in the prior year. In addition, the

reservable liabilities adjustment and the

increase in deposit cutoff levels for

reporting purposes relieve a restriction

on depository institutions, and the low

reserve tranche will have a de minimis

effect on depository institutions with

net transaction accounts exceeding

$47.8 million. Accordingly, there is

good cause to determine, and the Board

so determines, that such notice is

impracticable or unnecessary.

Regulatory Flexibility Analysis

The Board certifies that these

amendments will not have a substantial

economic impact on small depository

institutions. See ‘‘Notice and Public

Participation’’ above.

List of Subjects in 12 CFR Part 204

Banks, banking, Reporting and

recordkeeping requirements.

For the reasons set forth in the

preamble, the Board is amending 12

CFR part 204 as follows:

PART 204—RESERVE

REQUIREMENTS OF DEPOSITORY

INSTITUTIONS (REGULATION D)

1. The authority citation for part 204

continues to read as follows:

Authority: 12 U.S.C. 248(a), 248(c), 371a,

461, 601, 611, and 3105.

2. Section 204.9 is revised to read as

follows:

§ 204.9 Reserve requirement ratios.

(a) Reserve percentages. The following

reserve ratios are prescribed for all

depository institutions, Edge and

Agreement corporations, and United

States branches and agencies of foreign

banks:

Category Reserve requirement 1

Net transaction accounts:

$0 to $47.8 million 3 percent of amount.

over $47.8 million .. $1,434,000 plus 10

percent of amount

over $47.8 million

Nonpersonal time

deposits.

0 percent.

Eurocurrency liabilities.0 percent.

1Before deducting the adjustment to be

made by the paragraph (b) of this section.

(b) Exemption from reserve

requirements. Each depository

institution, Edge or agreement

corporation, and U.S. branch or agency

of a foreign bank is subject to a zero

percent reserve requirement on an

amount of its transaction accounts

subject to the low reserve tranche in

paragraph (a) of this section not in

excess of $4.7 million determined in

accordance with § 204.3(a)(3).

By order of the Board of Governors of

the Federal Reserve System, November

13, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–30237 Filed 11–18–97; 8:45 am]

BILLING CODE 6210–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 97–ASO–14]

Revocation of Class E Airspace;

Marietta Dobbins ARB (NAS Atlanta),

GA

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Final rule.
Federal Register / Vol. 62, No. 223 / Wednesday, November 19, 1997 / Rules and Regulations 61623

SUMMARY: This amendment revokes

Class E surface area airspace at Marietta

Dobbins Air Reserve Base (ARB) (Naval

Air Station [NAS] Atlanta). The required

weather observations are no longer

being taken after the control tower

closes; therefore, the airport no longer

meets the criteria for Class E surface

area airspace.

EFFECTIVE DATE: 0901 UTC, January 1,

1998.

FOR FURTHER INFORMATION CONTACT:

Nancy B. Shelton, Airspace Branch, Air

Traffic Division, Federal Aviation

Administration, P.O. Box 20636,

Atlanta, Georgia 30320; Telephone (404)

305–5491.

SUPPLEMENTARY INFORMATION: Weather

observations are a requirement for Class

E surface area airspace. Since weather

observations are no longer taken at

Marietta Dobbins ARB (NAS Atlanta)

after the control tower closes, the

requirement for Class E surface area

airspace is no longer being met;

therefore, the Class E surface area

airspace is no longer being met;

therefore, the Class E surface area

airspace must be revoked. This rule will

become effective on the date specified

in the EFFECTIVE DATE section. Since this

action revokes the Class E surface area

airspace, and as a result, eliminates the

impact of Class E airspace on users of

the airspace in the vicinity of Marietta

Dobbins ARB (NAS Atlanta), notice and

public procedure under 5 U.S.C. 553(b)

are unnecessary.

Designations for Class E airspace areas

designated as a surface area for an

airport are published in FAA Order

7400.9E dated September 10, 1997, and

effective September 16, 1997, which is

incorporated by reference in 14 CFR

part 71.1. The Class E airspace

designation listed in this document will

be published subsequently in the Order.

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. 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

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—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for 14 CFR

part 71 continues to read as follows:

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

40120; EO 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 Federal Aviation

Administration Order 7400.9E, Airspace

Designations and Reporting Points,

dated September 10, 1997, and effective

September 16, 1997, is amended as

follows:

Paragraph 6002 Class E airspace areas

designated as a surface area for an airport.

* * * * *

ASO GA E2 Marietta Dobbins ARB (NAS

Atlanta), GA [Removed]

* * * * *

Issued in College Park, Georgia, on

November 3, 1997.

Nancy B. Shelton,

Acting Manager, Air Traffic Division,

Southern Region.

[FR Doc. 97–30355 Filed 11–18–97; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket 97–ASO–13]

Establishment of Class E Airspace;

Guntersville, AL

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Final rule.

SUMMARY: This amendment establishes

Class E airspace area at Guntersville,

AL. A Global Positioning System (GPS)-

A Standard Instrument Approach

Procedure (SIAP) has been developed

for Guntersville Municipal Airport.

Controlled airspace extending upward

from 700 feet Above Ground Level

(AGL) is needed to accommodate the

SIAP and for Instrument Flight Rules

(IFR) operations at Guntersville

Municipal Airport. The operating status

of the airport will change from Visual

Flight Rules (VFR) to include IFR

operations concurrent with publication

of the SIAP.

EFFECTIVE DATE: 0901 UTC, January 1,

1998.

FOR FURTHER INFORMATION CONTACT:

Nancy B. Shelton, Airspace Branch, Air

Traffic Division, Federal Aviation

Administration, P.O. Box 20636,

Atlanta, Georgia 30320; telephone (404)

305–5576.

SUPPLEMENTARY INFORMATION:

History

On September 12, 1997, the FAA

proposed to amend 14 CFR part 71 by

establishing Class E airspace at

Guntersville, AL (62 FR 48025). This

action would provide adequate Class E

airspace for IFR operations at

Guntersville Municipal Airport.

Designations for Class E airspace

extending upward from 700 feet or more

above the surface of the earth are

published in Paragraph 6005 of FAA

Order 7400.9E, dated September 10,

1997, and effective September 16, 1997,

which is incorporated by reference in 14

CFR part 71.1. The Class E airspace

designation listed in this document will

be published subsequently in the Order.

Interested parties were invited to

participate in this rulemaking

proceeding by submitting written

comments on the proposal to the FAA.

No comments objecting to the proposal

were received.

The Rule

This amendment to 14 CFR part 71

establishes Class E airspace at

Guntersville, AL. Additionally, this rule

makes a technical amendment to the

legal description of the airspace area by

adding words that exclude an adjacent

Class E airspace area. A GPS–A SIAP

has been developed for Guntersville

Municipal Airport. Controlled airspace

extending upward from 700 feet AGL is

needed to accommodate this SIAP and

for IFR operations at Guntersville

Municipal Airport. The operating status

of the airport will change from VFR to

include IFR operations concurrent with

publication of this SIAP.

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. 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)