Federal Register / Vol. 65, No. 214 / Friday, November 3, 2000 / Notices 66253

object to any future modifications to NACHA’s

definition of an ACH operator.

10Federal Reserve Regulatory Service, 7–145.2.

processors typically do not provide

settlement services for transactions they

process while correspondent banks

typically do not provide the

comprehensive clearing and delivery

services provided by operators. Thus,

the Reserve Banks tend to compete with

PSOs, and not third-party processors or

correspondent banks, in providing

services to depository institutions.

Commenters strongly supported the

use of NACHA’s operator definition to

determine eligibility for deadline and

price structure modifications. The

Federal Reserve Banks of Chicago and

Richmond, however, opposed the use of

NACHA’s operator definition. The

Chicago Reserve Bank believed that,

given some of the arbitrary aspects of

NACHA’s operator definition, limiting

eligibility for deadline and price

structure modifications to

intermediaries that meet NACHA’s

operator definition could worsen the

competitive position of other ACH

intermediaries vis-a ́-vis operators and

the Reserve Banks. The Richmond

Reserve Bank believed that limiting

eligibility to only a certain group of

intermediaries that provide all of

components of the bundle of services

that comprise ACH operator services

would be inconsistent with the spirit of

the proposal, which recognizes the

improved competitive environment

associated with unbundling services.

Board Analysis—The Board has

concluded that the Reserve Banks’

deadline and price structure

modifications be limited to any

intermediary that is defined as an

operator under NACHA rules. The

Board believes that the role of Reserve

Banks in the ACH system is analogous

to the role played by PSOs. ACH

operators play a significant role in

protecting the integrity of the overall

ACH network and ensuring its

interoperability and efficiency, a role

that is separate and distinct from the

role of other ACH intermediaries.

Further, while the Board believes that

certain aspects of NACHA’s operator

definition could be strengthened, the

current definition does not preclude

other entities from becoming new

operators and competing with

established operators.

II. Competitive Impact

The Board conducts a competitive

impact analysis when it considers a

major operational change, such as that

being proposed for ACH interoperator

transactions. 10 Specifically, in its

analysis, the Board has assessed

whether the interoperator deadlines and

price structure would have a direct and

material adverse effect on the ability of

other service providers to compete

effectively with the Reserve Banks in

providing similar services, and if so,

whether the adverse effect on

competition is due to differing legal

powers or constraints, or due to a

dominant market position deriving from

such legal differences.

The purpose of the deadline and price

structure modifications discussed above

is to further enhance the competitive

environment for ACH operator services.

These modifications should enhance the

ability of PSOs to compete with the

Reserve Banks in providing ACH

operator services to depository

institutions. Specifically, PSOs will be

able to establish customer deposit

deadlines similar to those of Reserve

Banks. Further, the Reserve Banks and

PSOs will have the same ability to

charge each other for the processing and

delivery of ACH transactions to RDFIs

that they serve. Moreover, depository

institutions and other intermediaries

might benefit from lower ACH

transaction fees that could result from a

more competitive market for the

provision of ACH operator services.

Thus, the Board does not anticipate any

adverse effects on competition resulting

from this proposal.

IV. Conclusion

The Board has decided on the

following modifications to the Reserve

Banks’ deposit deadlines and price

structure for interoperator transactions

that the Reserve Banks exchange with

PSOs.

• First, the Board has decided that the

Reserve Banks should work

collaboratively with ACH operators to

establish interoperator deposit

deadlines by which the Reserve Banks

and the PSOs would exchange

interoperator transactions. The PSOs

would continue to be free to establish

other deadlines by which they would

exchange interoperator transactions

among themselves. The interoperator

deposit deadlines will be implemented

no later than June 2001.

• Second, the Board has approved a

new approach to pricing interoperator

transactions that PSOs send to RDFIs on

the Reserve Banks’ ACH network.

—The Reserve Banks will charge

depository institutions that send and

receive all their transactions through

PSOs a monthly settlement fee of $20

per routing number, rather than the

monthly account servicing fee

(currently set at $25), to settle

interoperator transactions processed

by the Reserve Banks.

—The Reserve Banks will initiate

discussions with the PSOs to

negotiate the structure and level of

fees that will be charged by the

Reserve Banks as well as those fees

that the Reserve Banks will pay the

PSOs.

—The Reserve Banks will charge ACH

operators half the published

electronic connection fee to reflect the

use of the connection by both ACH

operators and the Reserve Banks to

send each other interoperator

transactions.

The new prices for interoperator

transactions will be implemented by the

Reserve Banks no later than September

2001.

• Third, the Board has decided that

the Reserve Banks’ deadline and price

structure modifications be limited to

any intermediary that is defined as an

operator under NACHA rules.

The specific implementation date for

each of the modifications outlined

above will be announced well in

advance of the effective dates.

By order of the Board of Governors of the

Federal Reserve System, October 30, 2000.

Jennifer J. Johnson,

Secretary of the Board.

[FR Doc. 00–28228 Filed 11–2–00; 8:45 am]

BILLING CODE 6210–01–P

FEDERAL RESERVE SYSTEM

Sunshine Act Meeting

AGENCY HOLDING THE MEETING: Board of

Governors of the Federal Reserve

System.

TIME AND DATE: 10 a.m., Wednesday,

November 8, 2000.

PLACE: Marriner S. Eccles Federal

Reserve Board Building, C Street

entrance between 20th and 21st Streets,

NW., Washington, DC 20551.

STATUS: Open.

MATTERS TO BE CONSIDERED: 

Summary Agenda: Because of its

routine nature, no discussion of the

following item is anticipated. The

matter will be voted on without

discussion unless a member of the

Board requests that the item be

moved to the discussion agenda.

1. Proposed 2001 Private Sector

Adjustment Factor.

Discussion Agenda:

2. Proposed 2001 fee schedules for

priced services.

3. Any items carried forward from a

previously announced meeting.

Note: This meeting will be recorded for the

benefit of those unable to attend. Cassettes

66254 Federal Register / Vol. 65, No. 214 / Friday, November 3, 2000 / Notices

will be available for listening in the Board’s

Freedom of Information Office, and copies

may be ordered for $6 per cassette by calling

202–452–3684 or by writing to: Freedom of

Information Office, Board of Governors of the

Federal Reserve System, Washington, DC

20551.

CONTACT PERSON FOR MORE INFORMATION:

Lynn S. Fox, Assistant to the Board,

202–452–3204.

SUPPLEMENTARY INFORMATION: You may

call 202–452–3206 for a recorded

announcement of this meeting; or you

may contact the Board’s Web site at

http://www.federalreserve.gov for an

electronic announcement. (The Web site

also includes procedural and other

information about the open meeting.)

Dated: November 1, 2000.

Robert deV. Frierson,

Associate Secretary of the Board.

[FR Doc. 00–28346 Filed 11–1–00; 10:55 am]

BILLING CODE 6210–01–P

FEDERAL RESERVE SYSTEM

Sunshine Act Meeting

AGENCY HOLDING THE MEETING: Board of

Governors of the Federal Reserve

System.

TIME AND DATE: Approximately 10:30

a.m., Wednesday, November 8, 2000,

following a recess at the conclusion of

the open meeting.

PLACE: Marriner S. Eccles Federal

Reserve Board Building, 20th and C

Streets, NW., Washington, DC 20551.

STATUS: Closed.

MATTERS TO BE CONSIDERED: 

1. Personnel actions (appointments,

promotions, assignments,

reassignments, and salary actions)

involving individual Federal Reserve

System employees.

2. Any matters carried forward from a

previously announced meeting.

CONTACT PERSON FOR MORE INFORMATION:

Lynn S. Fox, Assistant to the Board,

202–452–3204.

SUPPLEMENTARY INFORMATION: You may

call 202–452–3206 beginning at

approximately 5 p.m. two business days

before the meeting for a recorded

announcement of bank and bank

holding company applications

scheduled for the meeting; or you may

contact the Board’s Web site at http://

www.federalreserve.gov for an

electronic announcement that not only

lists applications, but also indicates

procedural and other information about

the meeting.

Dated: November 1, 2000.

Robert deV. Frierson,

Associate Secretary of the Board.

[FR Doc. 00–28347 Filed 11–1–00; 10:56 am]

BILLING CODE 6210–01–P

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

Dermatologic and Ophthalmic Drugs

Advisory Committee; Notice of

Meeting; Correction

AGENCY: Food and Drug Administration,

HHS.

ACTION: Notice; correction.

SUMMARY: The Food and Drug

Administration (FDA) is correcting a

notice that appeared in the Federal

Register of October 19, 2000 (65 FR

62722). The notice announced a meeting

of the Dermatologic and Ophthalmic

Drugs Advisory Committee, which was

scheduled for November 16, 2000. The

document was published with an error.

This document corrects that error.

FOR FURTHER INFORMATION CONTACT:

Anita Prout, Committee Management

Office (HFA–306), Food and Drug

Administration, 5600 Fishers Lane,

Rockville, MD 20857, 301–827–5503.

SUPPLEMENTARY INFORMATION: In FR Doc.

00–26787, appearing on page 62722 in

the Federal Register of Thursday,

October 19, 2000, the following

correction is made:

1. On page 62722, in the first column,

under the ‘‘Location’’ caption, ‘‘Holiday

Inn, Grand Ballroom, Two Montgomery

Village Ave., Gaithersburg, MD.’’ is

corrected to read ‘‘CDER Advisory

Committee, conference room 1066, 5630

Fishers Lane, Rockville, MD.’’

Dated: October 31, 2000.

Linda A. Suydam,

Senior Associate Commissioner.

[FR Doc. 00–28349 Filed 11–01–00; 2:45 pm]

BILLING CODE 4160–01–F

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

Clinical Chemistry and Clinical

Toxicology Devices Panel of the

Medical Devices Advisory Committee;

Notice of Meeting

AGENCY: Food and Drug Administration,

HHS.

ACTION: Notice.

This notice announces a forthcoming

meeting of a public advisory committee

of the Food and Drug Administration

(FDA). At least one portion of the

meeting will be closed to the public.

Name of Committee: Clinical

Chemistry and Clinical Toxicology

Devices Panel of the Medical Devices

Advisory Committee.

General Function of the Committee:

To provide advice and

recommendations to the agency on

FDA’s regulatory issues.

Date and Time: The meeting will be

held on November 13, 2000, 10 a.m. to

4:30 p.m., and November 14, 2000, 8:30

a.m. to 4 p.m.

Location: Hilton, Salons C, D, and E,

620 Perry Pkwy., Gaithersburg, MD.

Contact Person: Veronica J. Calvin,

Center for Devices and Radiological

Health (HFZ–440), Food and Drug

Administration, 2098 Gaither Rd.,

Rockville, MD 20850, 301–594–1243, or

FDA Advisory Committee Information

Line, 1–800–741–8138 (301–443–0572

in the Washington, DC area), code

12514. Please call the Information Line

for up-to-date information on this

meeting.

Agenda: On November 13, 2000, the

committee will discuss two draft

guidances: ‘‘Guidance for Prescription

Use Drugs of Abuse Assays Premarket

Notifications’’ and ‘‘Over the Counter

(OTC) Screening Tests for Drugs of

Abuse: Guidance for Premarket

Notifications.’’ The prescription use

guidance will be available to the public

on the Internet at http://www.fda.gov/

cdrh/ode/odecl052.html and supersedes

the document entitled ‘‘Review Criteria

for Assessment of In Vitro Diagnostic

Devices for Drugs of Abuse Assays

Using Various Methodologies.’’ The

OTC use guidance will be available to

the public on the Internet at http://

www.fda.gov/cdrh/ode/91.html and

supersedes the document entitled

‘‘Guidance for Premarket Submissions

for Kits for Screening Drugs of Abuse To

Be Used by the Consumer.’’ Draft

questions for the committee regarding

these guidances will be available to the

public on the Internet at http://

www.fda.gov/cdrh/panelmtg.html. On

November 14, 2000, the committee will

discuss and make recommendations on

a premarket notification (510(k)) for a

first-of-a-kind prescription use

screening device for heroin in human

hair.

Procedure: On November 13, 2000,

from 10 a.m. to 4:30 p.m., and on

November 14, 2000, from 9 a.m. to 4

p.m., the meeting is open to the public.

Interested persons may present data,

information, or views, orally or in

writing, on issues pending before the