Federal Register / Vol. 65, No. 234 / Tuesday, December 5, 2000 / Notices 75977

regulations, see 10 CFR 2.1319, notice is

hereby given that a single member of the

Atomic Safety and Licensing Board

Panel is designated as Presiding Officer

to conduct further proceedings in

accordance with 10 CFR 2.1320 in the

following case:

Power Authority of The State of New

York, and Entergy Nuclear Fitzpatrick

LLC, Entergy Nuclear Indian Point 3

LLC, and Entergy Nuclear Operations,

Inc.

James A. FitzPatrick, Nuclear Power

Plant, and Indian Point Nuclear

Generating Unit No. 3

The hearing will be conducted

pursuant to 10 CFR part 2, subpart M,

of the Commission’s Regulations,

‘‘Public Notification, Availability of

Documents and Records, Hearing

Requests and Procedures for Hearings

on License Transfer Applications.’’ This

proceeding concerns applications that

together seek the Commission’s

authorization to transfer the ownership

interest in, and operating/maintenance

responsibility for (1) the Indian Point

Nuclear Generating Unit No. 3 from the

Power Authority of the State of New

York (PASNY) to Entergy Nuclear

Indian Point 3, LLC, and Entergy

Nuclear Operations, Inc. (ENO),

respectively; and (2) the James A.

FitzPatrick Nuclear Power Plant from

PASNY to Entergy Nuclear Indian Point

3, LLC, and ENO, respectively. The

notices of consideration of these transfer

requests and opportunity for hearing

were published in the Federal Register

on June 28, 2000. See 65 FR 39,953

(2000); 65 FR 39,954 (2000).

The Presiding Officer in this

proceeding is Administrative Judge

Charles Bechhoefer. All

correspondence, documents, and other

materials shall be filed with Judge

Bechhoefer in accordance with 10 CFR

§ 2.1313. His mail and e-mail addresses

are:

Administrative Judge Charles

Bechhoefer, Presiding Officer, Atomic

Safety and Licensing Board Panel,

U.S. Nuclear Regulatory Commission,

Washington, D.C. 20555–0001, E-mail:

cxb2@nrc.gov.

Issued at Rockville, Maryland, this 28th

day of November 2000.

G. Paul Bollwerk, III,

Chief Administrative Judge, Atomic Safety

and Licensing Board Panel.

[FR Doc. 00–30904 Filed 12–4–00; 8:45 am]

BILLING CODE 7590–01–P

OFFICE OF PERSONNEL

MANAGEMENT

Federal Prevailing Rate Advisory

Committee; Open Committee Meetings

According to the provisions of section

10 of the Federal Advisory Committee

Act (Pub. L. 92–463), notice is hereby

given that meetings of the Federal

Prevailing Rate Advisory Committee

will be held on—

Thursday, December 14, 2000

Thursday, December 21, 2000

The meeting will start at 10:00 a.m.

and will be held in Room 5A06A, Office

of Personnel Management Building,

1900 E Street, NW., Washington, DC.

The Federal Prevailing Rate Advisory

Committee is composed of a Chair, five

representatives from labor unions

holding exclusive bargaining rights for

Federal blue-collar employees, and five

representatives from Federal agencies.

Entitlement to membership on the

Committee is provided for in 5 U.S.C.

5347.

The Committee’s primary

responsibility is to review the Prevailing

Rate System and other matters pertinent

to establishing prevailing rates under

subchapter IV, chapter 53, 5 U.S.C., as

amended, and from time to time advise

the Office of Personnel Management.

This scheduled meeting will start in

open session with both labor and

management representatives attending.

During the meeting either the labor

members or the management members

may caucus separately with the Chair to

devise strategy and formulate positions.

Premature disclosure of the matters

discussed in these caucuses would

unacceptably impair the ability of the

Committee to reach a consensus on the

matters being considered and would

disrupt substantially the disposition of

its business. Therefore, these caucuses

will be closed to the public because of

a determination made by the Director of

the Office of Personnel Management

under the provisions of section 10(d) of

the Federal Advisory Committee Act

(Pub. L. 92–463) and 5 U.S.C.

552b(c)(9)(B). These caucuses may,

depending on the issues involved,

constitute a substantial portion of a

meeting.

Annually, the Chair compiles a report

of pay issues discussed and concluded

recommendations. These reports are

available to the public, upon written

request to the Committee’s Secretary.

The public is invited to submit

material in writing to the Chair on

Federal Wage System pay matters felt to

be deserving of the Committee’s

attention. Additional information on

this meeting may be obtained by

contacting the Committee’s Secretary,

Office of Personnel Management,

Federal Prevailing Rate Advisory

Committee, Room 5538 , 1900 E Street,

NW., Washington, DC 20415 (202) 606–

1500.

Dated: November 21, 2000.

John F. Leyden,

Chairman, Federal Prevailing Rate Advisory

Committee.

[FR Doc. 00–30863 Filed 12–4–00; 8:45 am]

BILLING CODE 6325–01–U

RAILROAD RETIREMENT BOARD

2001 Railroad Experience Rating

Proclamations, Monthly Compensation

Base and Other Determinations

AGENCY: Railroad Retirement Board.

ACTION: Notice.

SUMMARY: Pursuant to section 8(c)(2)

and section 12(r)(3) of the Railroad

Unemployment Insurance Act (Act) (45

U.S.C. 358(c)(2) and 45 U.S.C. 362(r)(3),

respectively), the Board gives notice of

the following:

1. The balance to the credit of the

Railroad Unemployment Insurance

(RUI) Account, as of June 30, 2000, is

$103,012,214.34;

2. The September 30, 2000, balance of

any new loans to the RUI Account,

including accrued interest, is zero;

3. The system compensation base is

$3,091,618,036.00 as of June 30, 2000;

4. The cumulative system unallocated

charge balance is ($225,212,154.12) as of

June 30, 2000;

5. The pooled credit ratio for calendar

year 2001 is zero;

6. The pooled charged ratio for

calendar year 2001 is zero;

7. The surcharge rate for calendar year

2001 is 1.5 percent;

8. The monthly compensation base

under section 1(i) of the Act is $1,050

for months in calendar year 2001;

9. The amount described in section

1(k) of the Act as ‘‘2.5 times the monthly

compensation base’’ is $2,625 for base

year (calendar year) 2001;

10. The amount described in section

2(c) of the Act as ‘‘an amount that bears

the same ratio to $775 as the monthly

compensation base for that year as

computed under section 1(i) of this Act

bears to $600’’ is $1,356 for months in

calendar year 2001;

11. The amount described in section

3 of the Act as ‘‘2.5 times the monthly

compensation base’’ is $2,625 for base

year (calendar year) 2001;

12. The amount described in section

4(a–2)(i)(A) of the Act as ‘‘2.5 times the

monthly compensation base’’ is $2,625

75978 Federal Register / Vol. 65, No. 234 / Tuesday, December 5, 2000 / Notices

with respect to disqualifications ending

in calendar year 2001;

13. The maximum daily benefit rate

under section 2(a)(3) of the Act is $50

with respect to days of unemployment

and days of sickness in registration

periods beginning after June 30, 2001.

DATES: The balance in notice (1) and the

determinations made in notices (3)

through (7) are based on data as of June

30, 2000. The balance in notice (2) is

based on data as of September 30, 2000.

The determinations made in notices (5)

through (7) apply to the calculation,

under section 8(a)(1)(C) of the Act, of

employer contribution rates for 2001.

The determinations made in notices (8)

through (12) are effective January 1,

2001. The determination made in notice

(13) is effective for registration periods

beginning after June 30, 2001.

ADDRESSES: Secretary to the Board,

Railroad Retirement Board, 844 Rush

Street, Chicago, Illinois 60611–2092.

FOR FURTHER INFORMATION CONTACT:

Marla L. Huddleston, Bureau of the

Actuary, Railroad Retirement Board, 844

Rush Street, Chicago, Illinois 60611–

2092, telephone (312) 751–4779.

SUPPLEMENTARY INFORMATION: The RRB

is required by section 8(c)(1) of the

Railroad Unemployment Insurance Act

(Act) (45 U.S.C. 358(c)(1)) as amended

by Public Law 100–647, to proclaim by

October 15 of each year certain systemwide factors used in calculating

experience-based employer contribution

rates for the following year. The RRB is

further required by section 8(c)(2) of the

Act (45 U.S.C. 358(c)(2)) to publish the

amounts so determined and proclaimed.

The RRB is required by section 12(r)(3)

of the Act (45 U.S.C. 362(r)(3)) to

publish by December 11, 2000, the

computation of the calendar year 2001

monthly compensation base (section 1(i)

of the Act) and amounts described in

sections 1(k), 2(c), 3 and 4(a–2)(i)(A) of

the Act which are related to changes in

the monthly compensation base. Also,

the RRB is required to publish, by June

11, 2001, the maximum daily benefit

rate under section 2(a)(3) of the Act for

days of unemployment and days of

sickness in registration periods

beginning after June 30, 2001.

Surcharge Rate

A surcharge is added in the

calculation of each employer’s

contribution rate, subject to the

applicable maximum rate, for a calendar

year whenever the balance to the credit

of the RUI Account on the preceding

June 30 is less than the greater of $100

million or the amount that bears the

same ratio to $100 million as the system

compensation base for that June 30

bears to the system compensation base

as of June 30, 1991. If the RUI Account

balance is less than $100 million (as

indexed), but at least $50 million (as

indexed), the surcharge will be 1.5

percent. If the RUI Account balance is

less than $50 million (as indexed), but

greater than zero, the surcharge will be

2.5 percent. The maximum surcharge of

3.5 percent applies if the RUI Account

balance is less than zero.

The system compensation base as of

June 30, 1991 was $2,763,287,237.04.

The system compensation base for June

30, 2000 was $3,091,618,036.00. The

ratio of $3,091,618,036.00 to

$2,763,287,237.04 is 1.11881892.

Multiplying 1.11881892 by $100 million

yields $111,881,892. Multiplying $50

million by 1.11881892 produces

$55,940,946. The Account balance on

June 30, 2000, was $103,012,214.34.

Accordingly, the surcharge rate for

calendar year 2001 is 1.5 percent.

Monthly Compensation Base

For years after 1988, section 1(i) of the

Act contains a formula for determining

the monthly compensation base. Under

the prescribed formula, the monthly

compensation base increases by

approximately two-thirds of the

cumulative growth in average national

wages since 1984. The monthly

compensation base for months in

calendar year 2001 shall be equal to the

greater of (a) $600 or (b) $600 [1 +

{(A¥37,800)/56,700}], where A equals

the amount of the applicable base with

respect to tier 1 taxes for 2001 under

section 3231(e)(2) of the Internal

Revenue Code of 1986. Section 1(i)

further provides that if the amount so

determined is not a multiple of $5, it

shall be rounded to the nearest multiple

of $5.

The calendar year 2001 tier 1 tax base

is $80,400. Subtracting $37,800 from

$80,400 produces $42,600. Dividing

$42,600 by $56,700 yields a ratio of

0.75132275. Adding one gives

1.75132275. Multiplying $600 by the

amount 1.75132275 produces the

amount of $1,050.79, which must then

be rounded to $1,050. Accordingly, the

monthly compensation base is

determined to be $1,050 for months in

calendar year 2001.

Amounts Related to Changes in

Monthly Compensation Base

For years after 1988, sections 1(k),

2(c), 3 and 4(a–2)(i)(A) of the Act

contain formulas for determining

amounts related to the monthly

compensation base.

Under section 1(k), remuneration

earned from employment covered under

the Act cannot be considered subsidiary

remuneration if the employee’s base

year compensation is less than 2.5 times

the monthly compensation base for

months in such base year. Multiplying

2.5 by the calendar year 2001 monthly

compensation base of $1,050 produces

$2,625. Accordingly, the amount

determined under section 1(k) is $2,625

for calendar year 2001.

Under section 2(c), the maximum

amount of normal benefits paid for days

of unemployment within a benefit year

and the maximum amount of normal

benefits paid for days of sickness within

a benefit year shall not exceed an

employee’s compensation in the base

year. In determining an employee’s base

year compensation, any money

remuneration in a month not in excess

of an amount that bears the same ratio

to $775 as the monthly compensation

base for that year bears to $600 shall be

taken into account. The calendar year

2001 monthly compensation base is

$1,050. The ratio of $1,050 to $600 is

1.75000000. Multiplying 1.75000000 by

$775 produces $1,356. Accordingly, the

amount determined under section 2(c) is

$1,356 for months in calendar year

2001.

Under section 3, an employee shall be

a ‘‘qualified employee’’ if his/her base

year compensation is not less than 2.5

times the monthly compensation base

for months in such base year.

Multiplying 2.5 by the calendar year

2001 monthly compensation base of

$1,050 produces $2,625. Accordingly,

the amount determined under section 3

is $2,625 for calendar year 2001.

Under section 4(a–2)(i)(A), an

employee who leaves work voluntarily

without good cause is disqualified from

receiving unemployment benefits until

he has been paid compensation of not

less than 2.5 times the monthly

compensation base for months in the

calendar year in which the

disqualification ends. Multiplying 2.5

by the calendar year 2001 monthly

compensation base of $1,050 produces

$2,625. Accordingly, the amount

determined under section 4(a–2)(i)(A) is

$2,625 for calendar year 2001.

Maximum Daily Benefit Rate

Section 2(a)(3) contains a formula for

determining the maximum daily benefit

rate for registration periods beginning

after June 30, 1989, and after each June

30 thereafter. Legislation enacted on

October 9, 1996, revised the formula for

indexing maximum daily benefit rates.

Under the prescribed formula, the

maximum daily benefit rate increases by

approximately two-thirds of the

cumulative growth in average national

wages since 1984. The maximum daily

benefit rate for registration periods

Federal Register / Vol. 65, No. 234 / Tuesday, December 5, 2000 / Notices 75979

1Per SIA Management and Professional Earnings,

Table 051 (Compliance Manager) + 35% overhead

(based on end-of-year 1998 figures).

2See Securities Exchange Act Release No. 39457

(December 17, 1997), 62 FR 68018 (December 30,

1997). The Commission has not yet adopted a final

rule defining the term NRSRO. The Commission’s

Division of Market Regulation (the ‘‘Division’’) has

reviewed comments received in connection with

the proposal and is preparing a recommendation for

the Commission to determine what action, if any,

should be taken.

beginning after June 30, 2001, shall be

equal to 5 percent of the monthly

compensation base for the base year

immediately preceding the beginning of

the benefit year. Section 2(a)(3) further

provides that if the amount so computed

is not a multiple of $1, it shall be

rounded down to the nearest multiple of

$1.

The calendar year 2000 monthly

compensation base is $1,005.

Multiplying $1,005 by 0.05 yields

$50.25, which must then be rounded

down to $50. Accordingly, the

maximum daily benefit rate for days of

unemployment and days of sickness

beginning in registration periods after

June 30, 2001, is determined to be $50.

Dated: November 29, 2000.

By Authority of the Board.

Beatrice Ezerski,

Secretary to the Board.

[FR Doc. 00–30861 Filed 12–4–00; 8:45 am]

BILLING CODE 7905–01–U

SECURITIES AND EXCHANGE

COMMISSION

Request for Public Comment

Upon Written Request, Copies Available

From: Securities and Exchange Commission,

Office of Filings and Information Services,

Washington, D.C. 20549.

Extension: Rule 11Aa3–2, SEC File No.

270–439, OMB Control No. 3235–0500; Rule

15c3–4, SEC File No. 270–441, OMB Control

No. 3235–0497; Rule 15c3–1(c)(13), SEC File

No. 270–443, OMB Control No. 3235–0499.

Notice is hereby given that pursuant

to the Paperwork Reduction Act of 1995

(44 U.S.C. 3501 et seq.), the Securities

and Exchange Commission

(‘‘Commission’’) is soliciting comments

on the collections of information

summarized below. The Commission

plans to submit these existing

collections of information to the Office

of Management and Budget for

extension and approval.

Rule 11Aa3–2 provides that selfregulatory organizations (SROs) may,

acting jointly, file a national market

system plan or may propose an

amendment to an effective national

market system plan by submitting the

text of the plan or amendment to the

Secretary of the Commission, together

with a statement of the purpose of such

plan or amendment and, to the extent

applicable, the documents and

information required by paragraphs

(b)(4) and (5) of rule 11Aa3–2.

The collection of information is

designed to permit the Commission to

achieve its statutory directive to

facilitate the development of a national

market system. The information is used

to determine if a national market system

plan, or an amendment hereto, should

be approved and implemented.

The respondents to the collection of

information are self-regulatory

organizations, including national

securities exchanges, national securities

associations, registered clearing

agencies and the Municipal Securities

Rulemaking Board.

Ten respondents file an average total

of eight responses per year, which

corresponds to an estimated annual

response burden of 267 hours. At an

average cost per burden hour of $50, the

resultant total related cost of

compliance for these respondents is

$13,350 per year (267 burden hours

multiplied by $50/hour = $13,350).

Rule 15c3–4 requires certain brokerdealers that are registered with the

Commission as OTC Derivatives Dealers

to establish, document, and maintain a

system of internal risk management

controls. The rule sets forth the basic

elements for an OTC Derivatives Dealer

to consider and include when

establishing, documenting, and

reviewing its internal risk management

control system, which are designed to,

among other things, ensure the integrity

of an OTC Derivaties Dealer’s risk

measurement, monitoring, and

management process, to clarify

accountability at the appropriate

organizational level, and to define the

permitted scope of the dealer’s activities

and level of risk. The rule also requires

that management of an OTC Derivatives

Dealer must periodically review, in

accordance with written procedures, the

OTC Derivatives Dealer’s business

activities for consistency with its risk

management guidelines.

The staff estimates that the average

amount of time an OTC Derivatives

Dealer will spend implementing its risk

management control system is 2,000

hours and that, on average, an OTC

Derivatives Dealer will spend

approximately 200 hours each year

reviewing and updating its risk

management control system. Currently,

one firm is registered with the

Commission as an OTC Derivatives

Dealer. The staff estimates that

approximately five additional OTC

Derivatives Dealers may become

registered within the next three years.

Accordingly, the staff estimates the total

burden for six OTC Derivatives Dealers

to be 1,200 hours annually for reviewing

and updating its risk management

control system.

The staff believes that the cost of

complying with Rule 15c3–4 will be

approximately $82.50 per hour.1 This

per hour cost is based upon the annual

average hourly salary for a compliance

manager, who would generally be

responsible for initially establishing,

documenting, and maintaining an OTC

Derivatives Dealer’s internal risk

management control system. The total

annual cost for all affected OTC

Derivatives Dealers is estimated to be

$275,000, based on five firms each

spending 10,000 hours to implement an

internal risk management control

system at $82.50 per hour within the

next three years.

On December 17, 1997, the

Commission proposed for comment

amendments to its net capital rule, Rule

15c3–1, which would define the term

‘‘nationally recognized statistical rating

organization’’ (‘‘NRSRO’’) 2 Rule 15c3–1

currently requires broker-dealers, when

computing net capital, to deduct from

their net worth certain percentages of

the market value (‘‘haircuts’’) of their

proprietary securities positions. Brokerdealers’ proprietary position in

commercial paper, nonconvertible debt

securities, and nonconvertible preferred

stock are accorded preferential

treatment under the net capital rule, in

the form of smaller haircuts, if the

instruments are rated investment grade

by at least two NRSROs.

The Commission believes that

defining the term NRSRO within the net

capital rule would provide more

transparency in the NRSRO application

and review process. In the proposed

amendments, the Commission sets forth

a list of attributes that it would consider

when reviewing a credit rating

organization’s NRSRO application.

Further, the proposed amendments

would formalize the appeals process if

a credit rating organization is not

provided with the NRSRO status it

requests.

Currently, the Division utilizes the

no-action letter process to determine

which credit rating organizations may

be considered NRSROs under the net

capital rule. Through the no-action

letter process, the Division has provided

seven credit rating organizations with

written assurance that it will not

recommend enforcement action against

broker-dealers that rely on their credit