Federal Register / Vol. 80, No. 227 / Wednesday, November 25, 2015 / Proposed Rules 73681 

to amend the Securitization Safe Harbor 

Rule to make clear that the Rule does 

not require documents governing a 

securitization transaction to require any 

action prohibited by Regulation X. 

III. Policy Objective 

The objective of the Proposed Rule is 

to facilitate regulatory compliance and 

ease regulatory burden by ensuring that 

regulations are clear and consistent with 

other regulatory initiatives. In 

particular, the objective of the Proposed 

Rule is to harmonize the residential loan 

servicing condition of the Securitization 

Safe Harbor Rule with the CFPB’s loan 

servicing requirements. 

IV. Request for Comment 

The FDIC invites comment from all 

members of the public on the Proposed 

Rule. Comments are specifically 

requested on whether additional 

changes to the servicing provisions 

included in the Securitization Safe 

Harbor Rule need to be modified so as 

not to conflict with other applicable 

laws or regulations. The FDIC will 

carefully consider all comments that 

relate to the Proposed Rule. 

V. Administrative Law Matters 

A. Paperwork Reduction Act 

In accordance with the Paperwork 

Reduction Act (44 U.S.C. 3501, et seq.) 

(PRA) the FDIC may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

Office of Management and Budget 

(OMB) control number. The Proposed 

Rule would not revise the Securitization 

Safe Harbor Rule information collection 

3064–0177 or create any new 

information collection pursuant to the 

PRA. Consequently, no submission will 

be made to the Office of Management 

and Budget for review. The FDIC 

requests comment on its conclusion that 

this NPR does not revise the 

Securitization Safe Harbor Rule 

information collection, 3064–0177. 

B. Regulatory Flexibility Act 

The Regulatory Flexibility Act, 5 

U.S.C. 601–612, requires an agency to 

provide an Initial Regulatory Flexibility 

Analysis with a proposed rule, unless 

the agency certifies that the rule would 

not have a significant economic impact 

on a substantial number of small 

entities. 5 U.S.C. 603–605. The FDIC 

hereby certifies that the Proposed Rule 

would not have a significant economic 

impact on a substantial number of small 

entities, as that term applies to insured 

depository institutions. 

C. Plain Language 

Section 722 of the Gramm-LeachBliley Act (Pub. L. 106–102, 113 

Stat.1338, 1471) requires the Federal 

banking agencies to use plain language 

in all proposed and final rules 

published after January 1, 2000. The 

FDIC has sought to present the Proposed 

Rule in a simple and straightforward 

manner. 

List of Subjects in 12 CFR Part 360 

Banks, Banking, Bank deposit 

insurance, Holding companies, National 

banks, Participations, Reporting and 

recordkeeping requirements, Savings 

associations, Securitizations. 

For the reasons stated above, the 

Board of Directors of the Federal 

Deposit Insurance Corporation proposes 

to amend 12 CFR part 360 as follows: 

PART 360—RESOLUTION AND 

RECEIVERSHIP RULES 

■ 1. The authority citation for Part 360 

continues to read as follows: 

Authority: 12 U.S.C. 1821(d)(1), 

1821(d)(10)(C), 1821(d)(11), 1821(e)(1), 

1821(e)(8)(D)(i), 1823(c)(4), 1823(e)(2); Sec. 

401(h), Pub. L. 101–73, 103 Stat. 357. 

■ 2. Revise § 360.6(b)(3)(ii)(A) to read as 

follows: 

§ 360.6 Treatment of financial assets 

transferred in connection with a 

securitization or participation. 

* * * * * 

(b) * * * 

(3) * * * 

(ii) * * * 

(A) Servicing and other agreements 

must provide servicers with authority, 

subject to contractual oversight by any 

master servicer or oversight advisor, if 

any, to mitigate losses on financial 

assets consistent with maximizing the 

net present value of the financial asset. 

Servicers shall have the authority to 

modify assets to address reasonably 

foreseeable default, and to take other 

action to maximize the value and 

minimize losses on the securitized 

financial assets. The documents shall 

require that the servicers apply industry 

best practices for asset management and 

servicing. The documents shall require 

the servicer to act for the benefit of all 

investors, and not for the benefit of any 

particular class of investors, that the 

servicer maintain records of its actions 

to permit full review by the trustee or 

other representative of the investors and 

that the servicer must commence action 

to mitigate losses no later than ninety 

(90) days after an asset first becomes 

delinquent unless all delinquencies 

have been cured, provided that this 

requirement shall not be deemed to 

require that the documents include any 

provision concerning loss mitigation 

that requires any action that may 

conflict with the requirements of 

Regulation X (12 CFR part 1024), as 

Regulation X may by amended or 

modified from time to time. 

* * * * * 

Dated at Washington, DC, this 22nd day of 

October, 2015. 

By order of the Board of Directors. 

Federal Deposit Insurance Corporation. 

Robert E. Feldman, 

Executive Secretary. 

[FR Doc. 2015–29821 Filed 11–24–15; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2006–25970; Directorate 

Identifier 99–NE–12–AD] 

RIN 2120–AA64 

Airworthiness Directives; Turbomeca 

S.A. Turboshaft Engines 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of proposed rulemaking 

(NPRM). 

SUMMARY: We propose to supersede 

airworthiness directive (AD) 2006–23– 

17, which applies to certain Turbomeca 

S.A. Turmo IV A and IV C turboshaft 

engines. AD 2006–23–17 currently 

requires repetitive inspections of the 

centrifugal compressor intake wheel 

(inducer) blades for cracks and 

corrosion, replacement of parts that fail 

inspection, and replacement of the TU 

197 standard centrifugal compressor. 

This proposed AD would require the 

same inspections but at revised 

intervals, add the replacement of the TU 

215 standard centrifugal compressor, 

and require replacement of parts that 

fail inspection. We are proposing this 

AD to prevent failure of the centrifugal 

compressor inducer, which could lead 

to an uncontained blade release, damage 

to the engine, and damage to the 

airplane. 

DATES: We must receive comments on 

this proposed AD by January 25, 2016. 

ADDRESSES: You may send comments, 

using the procedures found in 14 CFR 

11.43 and 11.45, by any of the following 

methods: 

• Federal eRulemaking Portal: Go to 

http://www.regulations.gov. Follow the 

instructions for submitting comments. 

• Fax: 202–493–2251. 


srobinson on DSK5SPTVN1PROD with PROPOSALS
73682 Federal Register / Vol. 80, No. 227 / Wednesday, November 25, 2015 / Proposed Rules 

• Mail: U.S. Department of 

Transportation, Docket Operations, M– 

30, West Building Ground Floor, Room 

W12–140, 1200 New Jersey Avenue SE., 

Washington, DC 20590. 

• Hand Delivery: Deliver to Mail 

address above between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. 

For service information identified in 

this proposed AD, contact Turbomeca 

S.A., 40220 Tarnos, France; phone: 33 

(0)5 59 74 40 00; fax: 33 (0)5 59 74 45 

15. You may view this 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 by searching for 

and locating Docket No. FAA–2006– 

25970; 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 proposed AD, the 

regulatory evaluation, any comments 

received and other information. The 

street address for the Docket Office 

(phone: 800–647–5527) is in the 

ADDRESSES section. Comments will be 

available in the AD docket shortly after 

receipt. 

FOR FURTHER INFORMATION CONTACT: 

Wego Wang, Aerospace Engineer, 

Engine Certification Office, FAA, Engine 

& Propeller Directorate, 12 New England 

Executive Park, Burlington, MA 01803; 

phone: 781–238–7134; fax: 781–238– 

7199; email: wego.wang@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Comments Invited 

We invite you to send any written 

relevant data, views, or arguments about 

this NPRM. Send your comments to an 

address listed under the ADDRESSES

section. Include ‘‘Docket No. FAA– 

2006–25970; Directorate Identifier 99– 

NE–12–AD’’ at the beginning of your 

comments. We specifically invite 

comments on the overall regulatory, 

economic, environmental, and energy 

aspects of this NPRM. We will consider 

all comments received by the closing 

date and may amend this NPRM 

because of those comments. 

We will post all comments we 

receive, without change, to http://

www.regulations.gov, including any 

personal information you provide. We 

will also post a report summarizing each 

substantive verbal contact we receive 

about this NPRM. 

Discussion 

On November 7, 2006, we issued AD 

2006–23–17, Amendment 39–14829 (71 

FR 66664, November 16, 2006), (‘‘AD 

2006–23–17’’), for all Turbomeca S.A. 

Turmo IV A and IV C turboshaft 

engines. AD 2006–23–17 resulted from 

a Turbomeca S.A. review of the engine 

service experience and their 

determination that more frequent 

borescope inspections (BSIs) are 

required on engines not modified to the 

TU 191, TU 197, or TU 224 standard. 

AD 2006–23–17 requires repetitive BSI 

and eddy current inspections (ECIs) or 

ultrasonic inspections (UIs) of 

centrifugal compressor intake wheel 

(inducer) blades and replacement of 

parts that fail inspection and 

replacement of the TU 197 standard 

centrifugal compressor. We issued AD 

2006–23–17 to prevent centrifugal 

compressor intake wheel (inducer) 

blade cracks, which can result in engine 

in-flight power loss, engine shutdown, 

or forced landing. 

Actions Since AD 2006–23–17 Was 

Issued 

Since we issued AD 2006–23–17, a 

centrifugal compressor inducer blade 

loss occurred on an engine modified to 

TU 224 standard. This blade loss was 

due to cracks caused by impacts 

combined with significant erosion of the 

part not related to the TU 224 

modification. Turbomeca S.A. has 

revised the inspection intervals for the 

centrifugal compressor (inducer) blades, 

and requires replacement of parts that 

fail inspection, and replacement of the 

TU 197 and TU 215 standard centrifugal 

compressors. This proposed AD would 

require repetitive BSIs, and ECIs or UIs 

of the centrifugal compressor inducers 

at revised intervals, replacement of parts 

that fail inspection, and replacement of 

the TU 197 and TU 215 standard 

centrifugal compressors. 

Related Service Information Under 1 

CFR Part 51 

We reviewed Turbomeca S.A. Alert 

Mandatory Service Bulletin (MSB) No. 

A249–72–0100 Version H, dated May 

21, 2015. The MSB describes procedures 

for the inspection and replacement of 

the centrifugal compressor inducer 

blades. This service information is 

reasonably available because the 

interested parties have access to it 

through their normal course of business 

or by the means identified in the 

ADDRESSES section of this NPRM. 

FAA’s Determination 

We are proposing this NPRM because 

we evaluated all the relevant 

information and determined the unsafe 

condition described previously is likely 

to exist or develop in other products of 

the same type design. 

Proposed AD Requirements 

This NPRM would require repetitive 

BSIs, and ECIs or UIs based on the inservice requirements established for the 

various centrifugal compressor inducer 

standards, replacement of parts that fail 

inspection, and replacement of the TU 

197 and TU 215 standard centrifugal 

compressors. 

Costs of Compliance 

We estimate that this proposed AD 

affects 36 engines installed on airplanes 

of U.S. registry. We estimate that two of 

these engines will require compressor 

replacement. We also estimate that 

about 40 hours per engine are required 

to comply with this proposed AD. The 

average labor rate is $85 per hour. Parts 

cost about $40,000 per engine. Based on 

these figures, we estimate the cost of 

this proposed AD on U.S. operators to 

be $202,400. 

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 

products identified in this rulemaking 

action. 

Regulatory Findings 

We have determined that this 

proposed AD would not have federalism 

implications under Executive Order 

13132. This proposed AD would 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 the proposed regulation: 

(1) Is not a ‘‘significant regulatory 

action’’ under Executive Order 12866, 


srobinson on DSK5SPTVN1PROD with PROPOSALS
Federal Register / Vol. 80, No. 227 / Wednesday, November 25, 2015 / Proposed Rules 73683 

(2) Is not a ‘‘significant rule’’ under 

the DOT Regulatory Policies and 

Procedures (44 FR 11034, February 26, 

1979), 

(3) Will not affect intrastate aviation 

in Alaska to the extent that it justifies 

making a regulatory distinction, 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. 

The Proposed Amendment 

Accordingly, under the authority 

delegated to me by the Administrator, 

the FAA proposes to amend 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 

removing airworthiness directive (AD) 

2006–23–17, Amendment 39–14829 (71 

FR 66664, November 16, 2006) (‘‘2006– 

23–17’’), and adding the following new 

AD: 

Turbomeca S.A.: Docket No. FAA–2006– 

25970; Directorate Identifier 99–NE–12– 

AD. 

(a) Comments Due Date 

The FAA must receive comments on this 

AD action by January 25, 2016. 

(b) Affected ADs 

This AD replaces AD 2006–23–17. 

(c) Applicability 

This AD applies to Turbomeca S.A. Turmo 

IV A and IV C turboshaft engines. 

(d) Unsafe Condition 

This AD was prompted by a centrifugal 

compressor inducer blade loss. We are 

issuing this AD to prevent failure of the 

centrifugal compressor inducer, which could 

lead to an uncontained blade release, damage 

to the engine, and damage to the airplane. 

(e) Compliance 

Comply with this AD within the 

compliance times specified, unless already 

done. 

(1) Remove the TU 197 and TU 215 

standard centrifugal compressors and install 

the TU 224 standard centrifugal compressor, 

within 30 days after the effective date of this 

AD. 

(2) Perform initial and repetitive ultrasonic 

inspections (UIs) or eddy current inspections 

(ECIs) of the centrifugal compressor 

(inducer). Use Accomplishment Instructions, 

paragraph 6.B.(1)(b) of Turbomeca S.A. Alert 

Mandatory Service Bulletin (MSB) No. A249 

72 0100 Version H, dated May 21, 2015 to do 

the inspections. Use Appendix 1 of 

Turbomeca S.A. Alert MSB No. A249 72 0100 

Version H, dated May 21, 2015 for the 

schedule of inspections. 

(3) Perform initial and repetitive borescope 

inspections (BSIs) of the centrifugal 

compressor inducer. Use Accomplishment 

Instructions, paragraphs 6.B.(1)(a) of 

Turbomeca S.A. Alert MSB No. A249 72 0100 

Version H, dated May 21, 2015 to do the 

inspections. Use Appendix 1 of Turbomeca 

S.A. Alert MSB No. A249 72 0100 Version H, 

dated May 21, 2015 for the schedule of 

inspections. 

(4) If, during any inspection required by 

paragraphs (e)(2) or (e)(3) of this AD, any 

crack, corrosion, or other damage is detected 

on the inducer, then before next flight, 

replace the centrifugal compressor. 

(5) Accomplishment of a UI or ECI of the 

centrifugal compressor inducer, required by 

paragraph (e)(2) of this AD, is acceptable in 

lieu of a BSI required by paragraph (e)(3) of 

this AD for that engine. 

(6) Replacement of a centrifugal 

compressor required by paragraph (e)(4) of 

this AD, does not constitute terminating 

action for the repetitive inspections required 

by paragraphs (e)(2) and (e)(3) of this AD. 

(f) Credit for Previous Actions 

You may take credit for the inspections 

and corrective actions required by paragraph 

(e)(2) and (e)(3) of this AD if you performed 

the inspections and corrective actions before 

the effective date of this AD, using 

Turbomeca S.A. Alert MSB No. A249 72 

0100, Version G, or an earlier version. 

(g) Alternative Methods of Compliance 

(AMOCs) 

The Manager, Engine Certification Office, 

FAA, may approve AMOCs for this AD. Use 

the procedures found in 14 CFR 39.19 to 

make your request. You may email your 

request to: ANE-AD-AMOC@faa.gov. 

(h) Related Information 

(1) For more information about this AD, 

contact Wego Wang, Aerospace Engineer, 

Engine Certification Office, FAA, Engine & 

Propeller Directorate, 12 New England 

Executive Park, Burlington, MA 01803; 

phone: 781–238–7134; fax: 781–238–7199; 

email: wego.wang@faa.gov. 

(2) For service information identified in 

this AD, contact Turbomeca S.A., 40220 

Tarnos, France; phone: 33 (0)5 59 74 40 00; 

fax: 33 (0)5 59 74 45 15. 

(3) You may view this 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. 

Issued in Burlington, Massachusetts, on 

November 18, 2015. 

Colleen M. D’Alessandro, 

Directorate Manager, Engine & Propeller 

Directorate, Aircraft Certification Service. 

[FR Doc. 2015–29886 Filed 11–24–15; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF ENERGY 

Federal Energy Regulatory 

Commission 

18 CFR Part 35 

[Docket No. RM16–1–000] 

Reactive Power Requirements for NonSynchronous Generation 

AGENCY: Federal Energy Regulatory 

Commission. 

ACTION: Proposed rule. 

SUMMARY: The Federal Energy 

Regulatory Commission (Commission) is 

proposing to eliminate the exemptions 

for wind generators from the 

requirement to provide reactive power. 

As a result, all newly interconnecting 

generators, including both synchronous 

and non-synchronous generators, would 

be required to provide reactive power. 

To implement this requirement, the 

Commission proposes to revise the pro 

forma Large Generator Interconnection 

Agreement (LGIA), Appendix G to the 

pro forma LGIA, and the pro forma 

Small Generator Interconnection 

Agreement (SGIA) in accordance with 

the Commission’s regulations, which 

require every public utility with a nondiscriminatory open access transmission 

tariff on file to also have on file the pro 

forma LGIA and pro forma SGIA 

‘‘required by Commission rulemaking 

proceedings promulgating and 

amending such interconnection 

procedures and agreements.’’ In this 

Proposal to Revise Standard Generator 

Interconnection Agreements (Proposal), 

the Commission proposes to modify 

both agreements to eliminate the 

exemptions for wind generators from 

the requirement to provide reactive 

power. As a result, all newly 

interconnecting generators (i.e., new 

generators seeking to interconnect to the 

transmission system and all existing 

non-synchronous generators making 

upgrades to their generation facilities 

that require new interconnection 

requests), both synchronous and nonsynchronous, would be required to 

provide reactive power as a condition of 

interconnection as of the effective date 

of the final revision. 

DATES: Comments are due January 25, 

2016. 

ADDRESSES: Comments, identified by 

docket number, may be filed in the 

following ways: 

• Electronic Filing through http://

www.ferc.gov. Documents created 

electronically using word processing 

software should be filed in native 

applications or print-to-PDF format and 

not in a scanned format. 


srobinson on DSK5SPTVN1PROD with PROPOSALS