Federal Register / Vol. 65, No. 238 / Monday, December 11, 2000 / Notices 77395

comment period on December 29, 2000.

The HNP LTP (ADAMS Accession

Number ML003735143) may be

examined, and/or copied for a fee, at the

NRC’s Public Document Room, located

at One White Flint North, 11555

Rockville Pike (first floor), Rockville,

Maryland, and is accessible

electronically from the ADAMS Public

Library component on the NRC Web

site, http://www.nrc.gov (the Public

Electronic Reading Room). The LTP may

also be viewed at the CYAPCO Web site

at http://www.connyankee.com.

FOR FURTHER INFORMATION, CONTACT: Mr.

Louis L. Wheeler by mail, Mail Stop O–

7–C2, Project Directorate IV &

Decommissioning, Division of Licensing

Project Management, Office of Nuclear

Reactor Regulation, U.S. Nuclear

Regulatory Commission, Washington,

D.C. 20555–0001; telephone 301–415–

1444; or e-mail dxw@nrc.gov.

For the Nuclear Regulatory Commission.

Dated at Rockville, Maryland, this 5th day

of December 2000.

Richard F. Dudley,

Acting Chief, Decommissioning Section,

Project Directorate IV and Decommissioning

Division of Licensing Project Management,

Office of Nuclear Reactor Regulation.

[FR Doc. 00–31396 Filed 12–11–00; 8:45 am]

BILLING CODE 7590–01–P

SECURITIES AND EXCHANGE

COMMISSION

Proposed Collection; Comment

Request

Upon Written Request, Copies Available

From Securities and Exchange

Commission, Office of Filings and

Information Services, Washington, DC

20549.

Extension:

Appendix F to Rule 15c3–1, SEC File No.

270–440, OMB Control No. 3235–0496

Rule 17 Ad–16, SEC File No. 270–363,

OMB Control No. 3235–0413.

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 collection 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.

Appendix F to Rule 15c3–1 requires

a broker-dealer choosing to register as

an OTC derivative dealer to develop and

maintain an internal risk management

system based on Value-at-Risk (‘‘VAR’’)

models Appendix F also requires the

OTC derivatives to notify Commission

staff of the system and of certain other

periodic information including when

the VA model deviates from the actual

performance of the OTC derivatives

dealers’ portfolio. It is anticipated that

approximately six (6) broker-dealers

will spend 1,000 hours per year

complying with Appendix F. The total

burden is estimated to be approximately

6,000 hours. Each broker-dealer will

spend approximately $76,500 per

response for a total annual expense for

all broker-dealers of $459,000.

Rule 176AD–16 requires a registered

transfer agent to provide written notice

to a qualified registered securities

depository when assuming or

terminating transfer agent services on

behalf of an issuer or when changing its

name or address. These recordkeeping

requirements address the problem of

certificate transfer delays caused by

transfer requests that are directed to the

wrong transfer agent or the wrong

address.

Given that there are approximately

450 respondents who submit Rule

17Ad–16 notices, the staff estimates that

the average number of hours necessary

for each transfer agent to comply with

Rule 17Ad–16 is approximately 15

minutes per notice or 3.5 hours per year,

totaling 1.575 hours industry-wide. The

average cost per hour is approximately

$30 per hours, with the industry-wide

cost estimated at approximately

$47,250. However, the information

required by Rule 17Ad–16 generally

already is maintained by registered

transfer agents. The amount of time

devoted to compliance with Rule 17AD–

16 varies according to differences in

business activity.

Written comments are invited on: (a)

Whether the proposed collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information shall have practical utility;

(6) the accuracy of the agency’s estimate

of the burden of the proposed collection

of information; (c) ways to enhance the

quality, utility, and clarity of the

information to be collected; and (d)

ways to minimize the burden of the

collection of information on

respondents, including through the use

of automated collection techniques or

other forms of information technology.

Consideration will be given to

comments and suggestions submitted in

writing within 60 days of this

publication.

Direct your written comments to

Michael E. Bartell, Associate Executive

Director, Office of Information

Technology, Securities and Exchange

Commission, 450 5th Street, NW.,

Washington, DC 20549.

Dated: November 17, 2000.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–31444 Filed 12–8–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27289]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

December 4, 2000.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated under the Act. All

interested persons are referred to the

application(s) and/or declaration(s) for

complete statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendment(s) is/are available for

public inspection through the

Commission’s Branch of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

December 27, 2000, to the Secretary,

Securities and Exchange Commission,

Washington, DC 20549–0609, and serve

a copy on the relevant applicant(s) and/

or declarant(s) at the address(es)

specified below. Proof of service (by

affidavit or, in the case of an attorney at

law, by certificate) should be filed with

the request. Any request for hearing

should identify specifically the issues of

facts or law that are disputed. A person

who so requests will be notified of any

hearing, if ordered, and will receive a

copy of any notice or order issued in the

matter. After December 27, 2000, the

application(s) and/or declaration(s), as

filed or as amended, may be granted

and/or permitted to become effective.

Wheeling Power Company (70–9799)

Wheeling Power Company

(‘‘Wheeling’’), 51 16th Street, Wheeling,

West Virginia 26003, a public utility

subsidiary of American Electric Power

Company, Inc., a registered holding

company, has filed with this

Commission a declaration under

sections 6(a) and 7 of the Act and rule

54 under the Act.

Wheeling proposes to issue from time

to time through June 30, 2005 up to $20

million at any one time outstanding,

unsecured promissory notes (‘‘Notes’’)

to one or more commercial banks,

financial institutions or other

77396 Federal Register / Vol. 65, No. 238 / Monday, December 11, 2000 / Notices

institutional investors or lenders under

one or more term-loan agreements. The

Notes will mature in not less than nine

months nor more than ten years and

will have a fixed or fluctuating rate of

interest, or a combination of both. The

actual rate of interest of each Note shall

be subject to negotiation between

Wheeling and the lender, but any fixed

rate of interest will not exceed 500 basis

points over the yield, at issuance, of

U.S. Treasury obligations with

comparable maturity dates, and a

fluctuating rate will not exceed 500

basis points over the prime rate as

announced from time to time by a major

bank. If a bank or financial institution

arranges financing with a third party,

the institution may charge a placement

fee not in excess of 1% of the principal

amount of the borrowing. Wheeling will

use the proceeds from the sale of the

Notes to repay its long- and short-term

debt.

Wheeling also seeks authorization to

enter into hedging transactions,

including anticipatory hedges, with

respect to its indebtedness in order to

manage and minimize interest rate costs

and to lock-in current interest rates.

Wheeling requests authority to enter

into, perform, purchase and sell

financial instruments intended to

manage the volatility of interest rates,

including but not limited to interest rate

swaps, caps, floors, collars and forward

agreements or any other similar

agreements. Wheeling would employ

interest rate derivatives as a means of

prudently managing the risk associated

with any of its outstanding debt issued

under the authority requested in this

application or an applicable exemption

by, in effect, synthetically (1) converting

variable rate debt to fixed rate debt; (2)

converting fixed rate debt to variable

rate debt; and (3) limiting the impact of

changes in interest rates resulting from

variable rate debt. In no case would the

notional principal amount of any

interest rate swap exceed that of the

underlying debt instrument and related

interest rate exposure. The transactions

would be for fixed periods. Interest rate

hedges would only be entered into with

counterparties (‘‘Approved

Counterparties’’) whose senior debt

ratings, as published by a national

recognized rating agency are greater

than or equal to ‘‘BBB’’, or an equivalent

rating.

In addition, Wheeling requests

authorization to enter into interest rate

hedging transactions with respect to

anticipated debt offerings

(‘‘Anticipatory Hedges’’), subject to

certain limitations and restrictions.

Anticipatory Hedges would only be

entered into with Approved

Counterparties, and would be utilized to

fix and/or limit the interest rate risk

associated with any new issuance

through (1) a forward sale of exchangetraded Hedge Instruments (each a

‘‘Forward Sale’’); (2) the purchase of put

options on Hedge Instruments (a ‘‘Put

Options Purchase’’); (3) a Put Options

Purchase in combination with the sale

of call options on Hedge Instruments (a

‘‘Zero Cost Collar’’); (4) transactions

involving the purchase or sale,

including short sales, of Hedge

Instruments; or (5) some combination of

a Forward Sale, Put Options Purchase,

Zero Cost Collar and/or other derivative

or cash transactions, including, but not

limited to structured notes, caps and

collars, appropriate for the Anticipatory

Hedges. Anticipatory Hedges may be

executed on-exchange (‘‘On-Exchange

Trades’’) with brokers through the

opening of futures and/or options

positions traded on the Chicago Board

of Trade, the opening of over-thecounter positions with one or more

counterparties (‘‘Off-Exchange Trades’’),

or a combination of On-Exchange

Trades and Off-Exchange Trades.

Wheeling will determine the optimal

structure of each Anticipating Hedge

transaction at the time of execution.

Wheeling may decide to lock in interest

rates and/or limit its exposure to

interest rate increases. Wheeling states

that it will comply with standards

relating to accounting for derivative

transactions as are adopted and

implemented by the Financial

Accounting Standards Board (‘‘FASB’’).

In addition, these financial instruments

will qualify for hedge accounting

treatment under FASB rules.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–31379 Filed 12–8–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Rel. No. IC–24784; File No. 812–12090]

American United Life Insurance

Company, et al.

December 4, 2000.

AGENCY: Securities and Exchange

Commission (‘‘Commission’’).

ACTION: Notice of application for an

order pursuant to Section 26(b) of the

Investment Company Act of 1940 (the

‘‘1940 Act’’) approving certain

substitutions of securities.

Applicants: American United Life

Insurance Company (‘‘AUL’’) and AUL

American Unit Trust (‘‘AUL Account’’)

(collectively referred to herein as the

‘‘Applicants’’).

SUMMARY OF APPLICATION: Applicants

request an order to permit a registered

unit investment trust to substitute

shares of the State Street Equity 500

Index Fund (‘‘State Street 500 Fund’’), a

series of State Street Institutional

Investment Trust (‘‘State Street Trust’’),

for shares of the Index 500 Portfolio

(‘‘Fidelity 500 Portfolio’’), a series of

Variable Insurance Products Fund II

(‘‘VIP II’’) currently held by that unit

investment trust.

Filing Date: The application was filed

on May 5, 2000, and amended and

restated on November 30, 2000.

Hearing Or Notification Of Hearing:

An order granting the application will

be issued unless the Commission orders

a hearing. Interested persons may

request a hearing by writing to the

Secretary of the Commission and

serving Applicants with a copy of the

request, personally or by mail. Hearing

requests should be received by the

Commission by 5:30 p.m. on December

26, 2000, and should be accompanied

by proof of service on Applicants, in the

form of an affidavit or, for lawyers, a

certificate of service. Hearing requests

should state the nature of the writer’s

interest, the reason for the request, and

the issues contested. Persons may

request notification of a hearing by

writing to the Secretary of the

Commission.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, DC 20549–0609.

Applicants: c/o Richard A. Wacker,

Esq., American Untied Life Insurance

Company, One American Square,

Indianapolis, Indiana 46282. Copies to:

Ruth S. Epstein, Esq., Dechert, 1775 Eye

Street, NW., Washington, DC 20006–

2401.

FOR FURTHER INFORMATION CONTACT:

Lorna MacLeod, Branch Chief, at (202)

942–0684, Office of Insurance Products,

Division of Investment Management.

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application; the complete application

may be obtained for a fee from the

Public Reference Branch of the

Commission, 450 Fifth Street, NW.,

Washington, DC 20549–0102, (tel. (202)

942–8090).

Applicant’s Representations

1. AUL is an Indiana mutual life

insurance company. AUL is the

depositor and sponsor of the AUL