Federal Register / Vol. 77, No. 22 / Thursday, February 2, 2012 / Rules and Regulations 5167 

of multiple instruments, based on different 

indices that are imperfectly correlated. 

Interest rate risk: The risk that changes in 

market rates will adversely affect a credit 

union’s net economic value and/or earnings. 

Interest rate risk generally arises from a 

mismatch between the timing of cash flows 

from fixed rate instruments, and interest rate 

resets of variable rate instruments, on either 

side of the balance sheet. Thus, as interest 

rates change, earnings or net economic value 

may decline. 

Option risk: The risk to earnings and/or 

value due to the effect on financial 

instruments of options associated with these 

instruments. Options are embedded when 

they are contractual within, or directly 

associated with, the instrument. An example 

of a contractual embedded option is a call 

option on an agency bond. An example of a 

behavioral embedded option is the right of a 

residential mortgage holder to vary 

prepayments on the mortgage through time, 

either by making additional premium 

payments, or by paying off the mortgage prior 

to maturity. 

Repricing risk: The repricing of assets or 

liabilities following market changes can 

occur in different amounts and/or at different 

times. This risk can cause returns to vary. 

Spread risk: The risk to earnings and/or 

value resulting from variations through time 

of the spread between assets or liabilities to 

an underlying index such as the Treasury 

curve. 

Yield curve risk: The risk to earnings and/ 

or value due to changes in the level or slope 

of underlying yield curves. Financial 

instruments can be sensitive to different 

points on the curve. This can cause returns 

to vary as yield curves change. 

[FR Doc. 2012–2091 Filed 2–1–12; 8:45 am] 

BILLING CODE 7535–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2011–0691; Directorate 

Identifier 2011–NE–26–AD; Amendment 39– 

16909; AD 71–13–01R1] 

RIN 2120–AA64 

Airworthiness Directives; Lycoming 

Engines Reciprocating Engines 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule; rescission. 

SUMMARY: We are rescinding an 

airworthiness directive (AD) for 

Lycoming Engines model TIO–540–A 

series reciprocating engines. The 

existing AD, AD 71–13–01, was 

prompted by a report of a failed fuel 

injector tube assembly. Since we issued 

AD 71–13–01, we became aware that 

Lycoming Engines no longer supports 

Service Bulletin (SB) No. 335A, which 

was incorporated by reference in AD 

71–13–01. The intent of the 

requirements of that SB is now in 

Lycoming Engines Mandatory SB No. 

342F, which we have incorporated by 

reference into AD 2008–14–07. The 

FAA determined, therefore, that this 

requirement is duplicated by another 

AD. 

DATES: This AD is effective March 8, 

2012. 

ADDRESSES: For service information 

identified in this AD, contact Lycoming, 

652 Oliver Street, Williamsport, PA 

17701; phone: (570) 323–6181; fax: (570) 

327–7101; Web site: 

www.lycoming.com. You may review 

copies of the referenced service 

information at the FAA, Engine & 

Propeller Directorate, 12 New England 

Executive Park, Burlington, MA. For 

information on the availability of this 

material at the FAA, call (781) 238– 

7125. 

Examining the AD Docket 

You may examine the AD docket on 

the Internet at http:// 

www.regulations.gov; or in person at the 

Docket Management Facility between 

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

Friday, except Federal holidays. The AD 

docket contains this AD, the regulatory 

evaluation, any comments received, and 

other information. The address for the 

Docket Office (phone: (800) 647–5527) 

is Document Management Facility, U.S. 

Department of Transportation, Docket 

Operations, M–30, West Building 

Ground Floor, Room W12–140, 1200 

New Jersey Avenue SE., Washington, 

DC 20590. 

FOR FURTHER INFORMATION CONTACT: 

Norm Perenson, Aerospace Engineer, 

New York Aircraft Certification Office, 

FAA, Engine & Propeller Directorate, 

1600 Stewart Avenue, Suite 410, 

Westbury, NY 11590; phone: (516) 228– 

7337; fax: (516) 794–5531; email: 

Norman.perenson@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Discussion 

We issued a notice of proposed 

rulemaking (NPRM) to amend 14 CFR 

part 39 to rescind an AD that would 

apply to the specified products. That 

NPRM published in the Federal 

Register on July 19, 2011 (76 FR 42609). 

That NPRM proposed to rescind AD 71– 

13–01 (Amendment number is 39–1231; 

36 FR 11512–03, June 15, 1971) for 

Lycoming Engines model TIO–540–A 

series reciprocating engines. That AD 

requires a one-time visual inspection of 

external fuel injector lines on Lycoming 

Engines model TIO–540–A series 

reciprocating engines for fuel stains, 

cracks, dents, and bend radii under 5⁄8

inch and, if necessary, removal from 

service and replacement with 

serviceable parts. That AD also requires 

installing, if necessary, fuel injector line 

support clamps in accordance with 

Lycoming Engines SB No. 335 or later 

version of that SB. 

Since we issued AD 71–13–01 

(Amendment number is 39–1231; 36 FR 

11512–03, June 15, 1971), Lycoming 

Engines has informed us that it no 

longer supports SB No. 335A. They also 

pointed out that Lycoming Engines 

Mandatory SB No. 342F, dated June 4, 

2010, or the Instructions for Continued 

Airworthiness section of the Engine 

Overhaul Manual is the service 

information that owners, operators, and 

certificated repair facilities must use for 

initial and repetitive visual inspections 

of external fuel lines on all affected 

Lycoming Engines reciprocating 

engines. 

We incorporated by reference 

Lycoming Engines Mandatory SB No. 

342E, dated May 18, 2004, into AD 

2008–14–07 (73 FR 39574, July 10, 

2008). We will supersede AD 2008–14– 

07 to incorporate by reference Lycoming 

Engines Mandatory SB No. 342F, dated 

June 4, 2010. 

Comments 

We gave the public the opportunity to 

participate in developing this AD. We 

received no comments on the NPRM (76 

FR 42609, July 19, 2011). 

Conclusion 

We reviewed the relevant data and 

determined that air safety and the 

public interest require rescinding the 

AD as proposed. 

Authority for This Rulemaking 

Title 49 of the United States Code 

specifies the FAA’s authority to issue 

rules on aviation safety. Subtitle I, 

section 106, describes the authority of 

the FAA Administrator. Subtitle VII: 

Aviation Programs, describes in more 

detail the scope of the Agency’s 

authority. 

We are issuing this rulemaking under 

the authority described in Subtitle VII, 

Part A, Subpart III, Section 44701: 

‘‘General requirements.’’ Under that 

section, Congress charges the FAA with 

promoting safe flight of civil aircraft in 

air commerce by prescribing regulations 

for practices, methods, and procedures 

the Administrator finds necessary for 

safety in air commerce. This regulation 

is within the scope of that authority 

because it addresses an unsafe condition 

that is likely to exist or develop on 


tkelley on DSK3SPTVN1PROD with RULES
5168 Federal Register / Vol. 77, No. 22 / Thursday, February 2, 2012 / Rules and Regulations 

products identified in this rulemaking 

action. 

Regulatory Findings 

This AD will not have federalism 

implications under Executive Order 

13132. This AD will not have a 

substantial direct effect on the States, on 

the relationship between the national 

government and the States, or on the 

distribution of power and 

responsibilities among the various 

levels of government. 

For the reasons discussed above, I 

certify that this AD: 

(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), 

(3) Will not affect intrastate aviation 

in Alaska, and 

(4) Will not have a significant 

economic impact, positive or negative, 

on a substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

List of Subjects in 14 CFR Part 39 

Air transportation, Aircraft, Aviation 

safety, Incorporation by reference, 

Safety. 

Adoption of the Amendment 

Accordingly, under the authority 

delegated to me by the Administrator, 

the FAA amends 14 CFR part 39 as 

follows: 

PART 39—AIRWORTHINESS 

DIRECTIVES 

■ 1. The authority citation for part 39 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40113, 44701. 

§ 39.13 [Amended] 

■ 2. The FAA amends § 39.13 by 

rescinding airworthiness directive (AD) 

71–13–01, Amendment 39–1231: 

71–13–01R1 Lycoming Engines (formerly 

Textron Lycoming Division, AVCO 

Corporation): Amendment 39–16909; 

Docket No. FAA–2011–0691; Directorate 

Identifier 2011–NE–26–AD. 

(a) Effective Date 

This AD is effective March 8, 2012. 

(b) Affected ADs 

This AD rescinds AD 71–13–01, 

Amendment 39–1231. 

(c) Applicability 

This AD applies to Lycoming Engines 

model TIO–540–A series reciprocating 

engines, with serial numbers lower than 

1931–61. 

(d) Related Information 

For more information about this AD, 

contact Norm Perenson, Aerospace Engineer, 

New York Aircraft Certification Office, FAA, 

Engine & Propeller Directorate, 1600 Stewart 

Avenue, Suite 410, Westbury, NY 11590; 

phone: (516) 228–7337; fax: (516) 794–5531; 

email: Norman.perenson@faa.gov. 

(e) Material Incorporated by Reference 

None. 

Issued in Burlington, Massachusetts, on 

December 29, 2011. 

Peter A. White, 

Manager, Engine & Propeller Directorate, 

Aircraft Certification Service. 

[FR Doc. 2012–1130 Filed 2–1–12; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2011–1357; Airspace 

Docket No. 11–AGL–26] 

Amendment of Class D Airspace; 

Mount Clemens, MI 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule, technical 

amendment. 

SUMMARY: This action amends Class D 

airspace within the Mount Clemens, MI, 

area by updating the geographic 

coordinates of Selfridge Air National 

Guard Base (ANGB) and the Selfridge 

Tactical Air Navigation (TACAN). This 

action does not change the boundaries 

or operating requirements of the 

airspace. 

DATES: Effective date: 0901 UTC, April 

5, 2012. The Director of the Federal 

Register approves this incorporation by 

reference action under 1 CFR part 51, 

subject to the annual revision of FAA 

Order 7400.9 and publication of 

conforming amendments. 

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: 

The Rule 

This action amends Title 14 Code of 

Federal Regulations (14 CFR) part 71 by 

updating the geographic coordinates of 

Selfridge Air National Guard Base and 

the Selfridge TACAN within Class D 

airspace to coincide with the FAA’s 

aeronautical database. This is an 

administrative change and does not 

affect the boundaries, altitudes, or 

operating requirements of the airspace, 

therefore, notice and public procedures 

under 5 U.S.C. 553(b) are unnecessary. 

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 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 amends 

controlled airspace at Selfridge ANGB, 

Mount Clemens, MI. 

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, 

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

TRAFFIC SERVICE 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; 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 the Federal Aviation 

Administration Order 7400.9V, Airspace 

Designations and Reporting Points, 

dated August 9, 2011, and effective 


tkelley on DSK3SPTVN1PROD with RULES