66264 Federal Register / Vol. 62, No. 243 / Thursday, December 18, 1997 / Rules and Regulations

except as otherwise provided by

§ 567.12 of this part.

* * * * *

(v) If a savings association has any

investments (both debt and equity) in

one or more subsidiaries engaged as of

April 12, 1989 and continuing to be

engaged in any activity that would not

fall within the scope of activities in

which includable subsidiaries may

engage, it must deduct such investments

from assets and, thus, core capital in

accordance with this paragraph (a)(2)(v).

The savings association must first

deduct from assets and, thus, core

capital the amount by which any

investments in such subsidiary(ies)

exceed the amount of such investments

held by the savings association as of

April 12, 1989. Next the savings

association must deduct from assets

and, thus, core capital the lesser of:

(A) The savings association’s

investments in and extensions of credit

to the subsidiary as of April 12, 1989;

or

(B) The savings association’s

investments in and extensions of credit

to the subsidiary on the date as of which

the savings association’s capital is being

determined.

* * * * *

(c) Total capital. (1) A savings

association’s total capital equals the

sum of its core capital and

supplementary capital (to the extent that

such supplementary capital does not

exceed 100% of its core capital).

(2) The following assets, in addition

to assets required to be deducted

elsewhere in calculating core capital,

are deducted from assets for purposes of

determining total capital:

(i) Reciprocal holdings of depository

institution capital instruments;

(ii) All equity investments; and

(iii) That portion of land loans and

nonresidential construction loans in

excess of 80 percent loan-to-value ratio.

(3) For the purposes of any risk-based

capital requirement under this part, a

savings association’s total capital equals

the amount calculated pursuant to

paragraphs (c)(1) and (c)(2) of this

section, minus the amount of its IRR

component as calculated pursuant to

§ 567.7 of this part.

28. Section 567.6 is amended by

revising paragraph (a)(1)(iii)(D) to read

as follows:

§ 567.6 Risk-based capital credit riskweight categories.

(a) * * *

(1) * * *

(iii) * * *

(D) Qualifying residential

construction loans as defined in § 567.1

of this part.

* * * * *

29. Section 567.9 is amended by:

a. in paragraph (c)(1), removing the

phrase ‘‘§ 567.1(m)’’, and by adding in

lieu thereof the phrase ‘‘§ 567.1’’;

b. revising paragraph (c)(3); and

c. in paragraph (c)(4), removing the

phrase ‘‘§ 567.1(1)’’, and by adding in

lieu thereof the phrase ‘‘§ 567.1’’.

The revisions read as follows:

§ 567.9 Tangible capital requirement.

* * * * *

(c) * * *

(3) If a savings association has any

investments (both debt and equity) in

one or more subsidiary(ies) engaged as

of April 12, 1989 and continuing to be

engaged in any activity that would not

fall within the scope of activities in

which includable subsidiaries may

engage, it must deduct such investments

from assets and, thus, tangible capital in

accordance with this paragraph (c)(3).

The savings association must first

deduct from assets and, thus, capital the

amount by which any investments in

such a subsidiary(ies) exceed the

amount of such investments held by the

savings association as of April 12, 1989.

Next, the savings association must

deduct from assets and, thus, tangible

capital the lesser of:

(i) The savings association’s

investments in and extensions of credit

to the subsidiary as of April 12, 1989;

or

(ii) The savings association’s

investments in and extensions of credit

to the subsidiary on the date as of which

the savings association’s capital is being

determined.

* * * * *

30. Section 567.12 is amended by

revising paragraph (a) and the last

sentence of paragraph (b) to read as

follows:

§ 567.12 Qualifying intangible assets and

mortgage servicing rights.

(a) Scope. This section prescribes the

maximum amount of qualifying

intangible assets, as defined in § 567.1

of this part, and mortgage servicing

rights that savings associations may

include in calculating tangible and core

capital.

(b) * * * Intangible assets, as defined

in § 567.1 of this part, other than

purchased credit card relationships and

core deposit intangibles grandfathered

by paragraph (g)(3) of this section, must

be deducted in computing tangible and

core capital.

* * * * *

PART 575—MUTUAL HOLDING

COMPANIES

31. The authority citation for part 575

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a, 1828, 2901.

§ 575.9 [Amended]

32. Section 575.9 is amended, in the

last sentence of paragraph (a)(4), by

removing the phrase ‘‘remaining

paragraphs of section 11’’, and by

adding in lieu thereof the phrase

‘‘remaining paragraphs of section 12’’.

Dated: December 11, 1997.

By the Office of Thrift Supervision.

Ellen Seidman,

Director.

[FR Doc. 97–32829 Filed 12–17–97; 8:45 am]

BILLING CODE 6720–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 97–NM–222–AD; Amendment

39–10248; AD 97–26–05]

RIN 2120–AA64

Airworthiness Directives; British

Aerospace (Jetstream) Model HS 748

Series Airplanes

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Final rule; request for

comments.

SUMMARY: This amendment adopts a

new airworthiness directive (AD),

applicable to all British Aerospace

(Jetstream) Model HS 748 series

airplanes. This action requires

inspections of the inspection holes in all

engine ‘W’ frame socket fittings to

determine if certain fasteners have been

installed, or if the inspection holes have

been reworked; and corrective action, if

necessary. This amendment is prompted

by issuance of mandatory continuing

airworthiness information by a foreign

civil airworthiness authority. The

actions specified in this AD are

intended to prevent fatigue cracking at

the inspection hole locations, due to the

installation of certain fasteners or hole

enlargement, which could result in

failure of the engine mount structure

and consequent separation of the engine

from the airplane.

DATES: Effective January 2, 1998.

The incorporation by reference of

certain publications listed in the

regulations is approved by the Director
Federal Register / Vol. 62, No. 243 / Thursday, December 18, 1997 / Rules and Regulations 66265

of the Federal Register as of January 2,

1998.

Comments for inclusion in the Rules

Docket must be received on or before

January 20, 1998.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Transport

Airplane Directorate, ANM–103,

Attention: Rules Docket No. 97–NM–

222–AD, 1601 Lind Avenue, SW.,

Renton, Washington 98055–4056.

The service information referenced in

this AD may be obtained from AI(R)

American Support, Inc., 13850 Mclearen

Road, Herndon, Virginia 20171. This

information may be examined at the

FAA, Transport Airplane Directorate,

1601 Lind Avenue, SW., Renton,

Washington; or at the Office of the

Federal Register, 800 North Capitol

Street, NW., suite 700, Washington, DC.

FOR FURTHER INFORMATION CONTACT:

International Branch, ANM–116, FAA,

Transport Airplane Directorate, 1601

Lind Avenue, SW., Renton, Washington

98055–4056; telephone (425) 227–2110;

fax (425) 227–1149.

SUPPLEMENTARY INFORMATION: The Civil

Aviation Authority (CAA), which is the

airworthiness authority for the United

Kingdom, notified the FAA that an

unsafe condition may exist on all British

Aerospace (Jetstream) Model HS 748

series airplanes. The CAA advises that

drive screws have been found installed

in the inspection holes of engine ‘W’

frame socket fittings, which resulted in

fatigue cracks at the inspection holes. In

addition, investigation revealed that, in

some cases, the inspection holes had

been enlarged beyond the original

0.125-inch diameter, which would

reduce the structural strength of the

fittings. Such fatigue cracking at the

inspection hole locations, if not

detected and corrected in a timely

manner, could result in failure of the

engine mount structure and consequent

separation of the engine from the

airplane.

Explanation of Relevant Service

Information

British Aerospace (Jetstream) has

issued Viscount Preliminary Technical

Leaflet (PTL) No. 501, Issue 2, dated

June 1, 1994, including Appendix 1,

dated January 1, 1994, which describes

procedures for a detailed visual

inspection of the inspection holes in all

engine ’W’ frame socket fittings to

determine if drive screws, and/or blind

rivets have been installed, or if the

original 0.125-inch diameter hole size

has been reworked. The PTL also

describes procedures for reworking the

inspection holes and/or replacement of

the ’W’ frame fitting, if necessary. The

CAA classified this service information

as mandatory and issued British

airworthiness directive 002–09–94,

dated September 1994, in order to

assure the continued airworthiness of

these airplanes in the United Kingdom.

FAA’s Conclusions

This airplane model is manufactured

in the United Kingdom and is type

certificated for operation in the United

States under the provisions of section

21.29 of the Federal Aviation

Regulations (14 CFR 21.19) and the

applicable bilateral airworthiness

agreement. Pursuant to this bilateral

airworthiness agreement, the CAA has

kept the FAA informed of the situation

described above. The FAA has

examined the findings of the CAA,

reviewed all available information, and

determined that AD action is necessary

for products of this type design that are

certificated for operation in the United

States.

Explanation of Requirements of the

Rule

Since an unsafe condition has been

identified that is likely to exist or

develop on other airplanes of the same

type design registered in the United

States, this AD requires accomplishment

of the actions specified in the PTL

described previously, except as

described below.

Differences Between This AD and the

Service Information

Operators should note that, unlike the

procedures described in the referenced

PTL and the British airworthiness

directive, this AD will not permit

further flight if drive screws, blind

rivets, and/or reworked holes are found

to exist at the inspection hole locations.

The FAA has determined that, due to

the safety implications and

consequences associated with the

installation of drive screws, blind rivets,

and/or the existence of reworked holes

at the inspection hole locations,

corrective action must be accomplished

prior to further flight.

Cost Impact

None of the Jetstream Model HS 748

series airplanes affected by this action

are on the U.S. Register. All airplanes

included in the applicability of this rule

currently are operated by non-U.S.

operators under foreign registry;

therefore, they are not directly affected

by this AD action. However, the FAA

considers that this rule is necessary to

ensure that the unsafe condition is

addressed in the event that any of these

subject airplanes are imported and

placed on the U.S. Register in the future.

Should an affected airplane be

imported and placed on the U.S.

Register in the future, it would require

approximately 13 work hours to

accomplish the required actions, at an

average labor charge of $60 per work

hour. Based on these figures, the cost

impact of this AD would be $780 per

airplane.

Determination of Rule’s Effective Date

Since this AD action does not affect

any airplane that is currently on the

U.S. register, it has no adverse economic

impact and imposes no additional

burden on any person. Therefore, prior

notice and public procedures hereon are

unnecessary and the amendment may be

made effective in less than 30 days after

publication in the Federal Register.

Comments Invited

Although this action is in the form of

a final rule and was not preceded by

notice and opportunity for public

comment, comments are invited on this

rule. Interested persons are invited to

comment on this rule by submitting

such written data, views, or arguments

as they may desire. Communications

shall identify the Rules Docket number

and be submitted in triplicate to the

address specified under the caption

ADDRESSES. All communications

received on or before the closing date

for comments will be considered, and

this rule may be amended in light of the

comments received. Factual information

that supports the commenter’s ideas and

suggestions is extremely helpful in

evaluating the effectiveness of the AD

action and determining whether

additional rulemaking action would be

needed.

Comments are specifically invited on

the overall regulatory, economic,

environmental, and energy aspects of

the rule that might suggest a need to

modify the 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 that

summarizes each FAA-public contact

concerned with the substance of this AD

will be filed in the Rules Docket.

Commenters wishing the FAA to

acknowledge receipt of their comments

submitted in response to this rule must

submit a self-addressed, stamped

postcard on which the following

statement is made: ‘‘Comments to

Docket Number 97–NM–222–AD.’’ The

postcard will be date stamped and

returned to the commenter.
66266 Federal Register / Vol. 62, No. 243 / Thursday, December 18, 1997 / Rules and Regulations

Regulatory Impact

The regulations adopted herein will

not have substantial direct effects 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. Therefore, in

accordance with Executive Order 12612,

it is determined that this final rule does

not have sufficient federalism

implications to warrant the preparation

of a Federalism Assessment.

For the reasons discussed above, I

certify that this action (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)

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. A final evaluation has

been prepared for this action and it is

contained in the Rules Docket. A copy

of it may be obtained from the Rules

Docket at the location provided under

the caption ADDRESSES.

List of Subjects in 14 CFR Part 39

Air transportation, Aircraft, Aviation

safety, Incorporation by reference,

Safety.

Adoption of the Amendment

Accordingly, pursuant to the

authority delegated to me by the

Administrator, the Federal Aviation

Administration amends part 39 of the

Federal Aviation Regulations (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. Section 39.13 is amended by

adding the following new airworthiness

directive:

97–26–05 British Aerospace Regional

Aircraft [Formerly Jetstream Aircraft

Limited, British Aerospace (Commercial

Aircraft) Limited]: Amendment 39–

10248. Docket 97–NM–222–AD.

Applicability: All Model HS 748 series

airplanes, certificated in any category.

Note 1: This AD applies to each airplane

identified in the preceding applicability

provision, regardless of whether it has been

otherwise modified, altered, or repaired in

the area subject to the requirements of this

AD. For airplanes that have been modified,

altered, or repaired so that the performance

of the requirements of this AD is affected, the

owner/operator must request approval for an

alternative method of compliance in

accordance with paragraph (c) of this AD.

The request should include an assessment of

the effect of the modification, alteration, or

repair on the unsafe condition addressed by

this AD; and, if the unsafe condition has not

been eliminated, the request should include

specific proposed actions to address it.

Compliance: Required as indicated, unless

accomplished previously.

To prevent fatigue cracking at the

inspection hole locations, due to the

installation of drive screws, and/or blind

rivets, or hole enlargement, which could

result in failure of the engine mount structure

and consequent separation of the engine from

the airplane, accomplish the following:

(a) Within 12 months after the effective

date of this AD, perform a detailed visual

inspection of the inspection holes in all of

the aft engine ‘W’ frame socket fittings to

determine if drive screws and/or blind rivets

have been installed, and to determine if the

inspection holes have been reworked, in

accordance with PART ONE of the

Accomplishment Instructions of British

Aerospace (Jetstream) Viscount Preliminary

Technical Leaflet (PTL) No. 501, Issue 2,

dated June 1, 1994, including Appendix 1,

dated January 1, 1994. If a drive screw or

blind rivet is installed, or if any inspection

hole has been reworked, prior to further

flight, accomplish follow-on corrective

actions, as applicable, in accordance with

PART THREE of the Accomplishment

Instructions of the PTL.

(b) At the next engine ‘W’ frame removal,

or within 24 months after the effective date

of this AD, whichever occurs first: Perform a

detailed visual inspection of the inspection

holes in all of the forward engine ‘W’ frame

socket fittings to determine if drive screws

and/or blind rivets have been installed, and

to determine if the inspection holes have

been reworked, in accordance with PART

TWO of the Accomplishment Instructions of

British Aerospace (Jetstream) Viscount PTL

No. 501, Issue 2, dated June 1, 1994,

including Appendix 1, dated January 1, 1994.

If a drive screw or blind rivet is installed, or

if any inspection hole has been reworked,

prior to further flight, accomplish follow-on

corrective actions, as applicable, in

accordance with PART THREE of the

Accomplishment Instructions of the PTL.

Note 2: Accomplishment of the inspections

and/or corrective actions in accordance with

Jetstream Service Bulletin HS748–71–33,

dated September 2, 1994, is considered

acceptable for showing compliance with the

requirements of paragraphs (a) and (b) of this

AD.

(c) An alternative method of compliance or

adjustment of the compliance time that

provides an acceptable level of safety may be

used if approved by the Manager,

International Branch, ANM–116, FAA,

Transport Airplane Directorate. Operators

shall submit their requests through an

appropriate FAA Principal Maintenance

Inspector, who may add comments and then

send it to the Manager, International Branch,

ANM–116.

Note 3: Information concerning the

existence of approved alternative methods of

compliance with this AD, if any, may be

obtained from the International Branch,

ANM–116.

(d) Special flight permits may be issued in

accordance with sections 21.197 and 21.199

of the Federal Aviation Regulations (14 CFR

21.197 and 21.199) to operate the airplane to

a location where the requirements of this AD

can be accomplished.

(e) The actions shall be done in accordance

with British Aerospace (Jetstream) Viscount

Preliminary Technical Leaflet (PTL) No. 501,

Issue 2, dated June 1, 1994, including

Appendix 1, dated January 1, 1994. This

incorporation by reference was approved by

the Director of the Federal Register in

accordance with 5 U.S.C. 552(a) and 1 CFR

part 51. Copies may be obtained from AI(R)

American Support, Inc., 13850 Mclearen

Road, Herndon, Virginia 20171. Copies may

be inspected at the FAA, Transport Airplane

Directorate, 1601 Lind Avenue, SW., Renton,

Washington; or at the Office of the Federal

Register, 800 North Capitol Street, NW., suite

700, Washington, DC.

Note 4: The subject of this AD is addressed

in British airworthiness directive 002–09–94,

dated September 1994.

(f) This amendment becomes effective on

January 2, 1998.

Issued in Renton, Washington, on

December 9, 1997.

John J. Hickey,

Acting Manager, Transport Airplane

Directorate, Aircraft Certification Service.

[FR Doc. 97–32610 Filed 12–17–97; 8:45 am]

BILLING CODE 4910–13–U

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 96–CE–51–AD;

Amendment 39–10251; AD 97–26–08]

RIN 2120–AA64

Airworthiness Directives; Mooney

Aircraft Corporation Models M20F,

M20J, and M20L Airplanes

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Final rule.

SUMMARY: This amendment adopts a

new airworthiness directive (AD) that

applies to Mooney Aircraft Corporation

(Mooney) Models M20F, M20J, and

M20L airplanes. This action requires

removing the fuel cap retaining lanyard

from the fuel filler cap assemblies. A

report of lost engine power during flight

because of fuel starvation prompted the

action. The investigation revealed that

the airplane fuel float became trapped

by the fuel cap retaining lanyard,

keeping the float from following the fuel