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Ru'es and Reguaflons FederaiRegister

Vol. 63, No. 65

Monday. April 6, 1998

This section of the FEDERAL REGISTER Background FEDERAL RESERVE SYSTEM

contains regulatory documents having general

applicability and legal effect, most of which The final regulation that is the subject 12 CFR Part 226

are keyed to and codified in the Code of of these corrections, Appendix J 1 of [Regulation Z; Docket No. R-0992] Federal Regulations, which is published under Subpart B to 10 CFR Part 430, sets forth

50 titles pursuant to 44 U.S.C. 1510. a new test procedure for clothes Truth in Lending

The Code of Federal Regulations is sold by washers. Department of Energy

promulgated this new test procedure for AGENCY: Board of Governors of the the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL use in considering revision of the Federal Reserve System.

REGISTER issue of each week. current clothes washer energy ACTION: Final rule; official staff

____________________________________ conservation standards, and for use, interpretation.

linon thir ffrtive date nf such revision

DEPARTMENT OF ENERGY in determining compliance with such

standards and in making representations

Office of Energy Efficiency and concerning clothes washer efficiency.

Renewable Energy

10 CFR Part 430

[Docket No. EE-RM-94-230A]

RIN 1904-AA68

Energy Conservation Program for

Consumer Products: Test Procedure

for Clothes Washers and Reporting

Requirements for Clothes Washers,

Clothes Dryers, and Dishwashers;

Correction

AGENCY: Office of Energy Efficiency and

Renewable Energy, Department of

Energy.

ACTION: Correcting amendments.

SUMMARY: This document contains

corrections to a final rule for the clothes

washer test procedures published on

Wednesday, August 27, 1997 (62 FR

45484). It corrects the introductory note

to the new clothes washer test

procedure which will be used to

analyze, and will apply to, anticipated

revisions to the existing clothes washer

energy conservation standards.

EFFECTIVE DATE: This rule is effective

April 6, 1998.

FOR FURTHER INFORMATION CONTACT:

Bryan Berringer, U.S. Department of

Energy, Energy Efficiency and

Renewable Energy, Mail Station EE43, Forrestal Building, 1000

Independence Avenue, SW,

Washington, DC 20585-0121, (202)

586-0371, E-mail:

Bryan.Berringer@HQ.DOE.GOV

Edward Levy, Esq., U.S. Department of

Energy, Office of General Counsel,

Mail Station GC-72, Forrestal

Building, 1000 Independence Avenue,

SW, Washington, DC 20585-0103,

(202) 586-9507, E-mail:

Edward.Levy@HQ.DOE.GOV

SUPPLEMENTARY INFORMATION:

Need for Correction

As published, the introductory

language in Appendix J 1 may create

confusion as to how the new test

procedure is to be employed, and does

not clearly reflect the intent in

promulgating the test procedure.

List of Subjects in 10 CFR Part 430

Administrative practice and

procedure, Energy conservation,

Household appliances.

PART 430-ENERGY CONSERVATION

PROGRAM FOR CONSUMER

PRODUCTS

Accordingly, 10 CFR part 430 is

corrected by making the following

correcting amendment:

1. The authority citation for part 430

continues to read as follows:

Authority: 42 U.S.C. 629 1-6309.

Appendix Ji to Subpart B of Part 430

[Corrected]

2. The "Note" immediately following

the heading for Appendix J 1 to Subpart

B of Part 430 is revised to read as

follows:

Note: Appendix Ji to Subpart B of part 430

is informational. It will not be used for

determining compliance with standards, or

as a basis for representations, until amended

energy conservation standards for clothes

washers at 10 CFR 430.32(g) become

effective.

Issued in Washington, DC, on April 1,

1998.

Dan W. Reicher,

Assistant Secretary, Energy Efficiency and

Renewable Energy.

[FR Doc. 98-895 1 Filed 4-3-98; 8:45 am]

BILLING CODE 6450-01-P

SUMMARY: The Board is publishing

revisions to the official staff

commentary to Regulation Z (Truth in

Lending). The commentary applies and

interprets the requirements of

Regulation Z. The update addresses

increased rates for open-end plans

triggered by events such as late

payments or exceeding credit limits. It

provides guidance on deferred payment

transactions in open-end plans. It also

addresses how creditors may determine

whether credit is an open-end plan or a

closed-end transaction. In addition, the

update discusses issues such as the

treatment of annuity costs in reverse

mortgage transactions and transaction

fees imposed on checking accounts with

overdraft protection.

DATES: This rule is effective March 31,

1998. Compliance is optional until

October 1, 1998.

FOR FURTHER INFORMATION CONTACT: For

Subparts A and B (open-end credit),

Jane E. Ahrens, Senior Attorney, or

Obrea 0. Poindexter, Staff Attorney; for

Subparts A, C, and E (closed-end credit

and reverse mortgages), Ms. Ahrens or

James A. Michaels, Senior Attorney, or

Michael E. Hentrel, Staff Attorney;

Division of Consumer and Community

Affairs, Board of Governors of the

Federal Reserve System, at (202) 452-

3667 or 452-2412; for users of

Telecommunications Device for the Deaf

(TDD) only, Diane Jenkins at (202) 452-

3544.

SUPPLEMENTARY INFORMATION:

I. Background

The purpose of the Truth in Lending

Act (TILA; 15 U.S.C. 1601 etseq.) isto

promote the informed use of consumer

credit by providing for disclosures about

its terms and cost. The act requires

creditors to disclose the cost of credit as

a dollar amount (the finance charge) and

as an annual percentage rate (the APR).

Uniformity in creditors' disclosures is

intended to assist consumers in

EE-RM-94-230A COMMENT 27