13820 Federal Register / Vol. 62, No. 56 / Monday, March 24, 1997 / Rules and Regulations

clause at the conclusion of the discussion

titled ‘‘Nonlocal checks.’’

5. Model C–9 Automated teller machine

deposits (extended holds). A bank that

reserves the right to delay availability of

deposits at nonproprietary ATMs until the

fifth business day following the date of

deposit, as permitted by § 229.12(f), must

incorporate this type of clause in its

availability policy disclosure. A bank must

choose among the alternative language based

on how it chooses to differentiate between

proprietary and nonproprietary ATMs, as

required under § 229.16(b)(5).

6. Model C–10 Cash withdrawal

limitation. A bank that imposes cash

withdrawal limitations under § 229.12 must

incorporate this type of clause in its

availability policy disclosure. Banks

reserving the right to impose the cash

withdrawal limitation and using Model C–3

should disclose that funds may not be

available until the sixth (rather than fifth)

business day in the first paragraph under the

heading ‘‘Longer Delays May Apply.’’

7. Model C–11 Credit union interest

payment policy. A credit union subject to the

notice requirement of § 229.14(b)(2) must

incorporate this type of clause in its

availability policy disclosure. This model

clause is only an example of a hypothetical

policy. Credit unions may follow any policy

for accrual provided the method of accruing

interest is the same for cash and check

deposits.

8. Model C–11A Availability of funds

deposited at other locations. A clause similar

to Model C–11A should be used if a bank

bases the availability of funds on the location

where the funds are deposited (for example,

at a contractual or other branch located in a

different check processing region). Similarly,

a clause similar to Model C–11A should be

used if a bank distinguishes between local

and non-local checks (for example, a bank

using model availability policy disclosure C–

4 or C–5), and accepts deposits in more than

one check processing region.

D. Model Notices, Models C–12 Through C–

21

1. Model Notices C–12 through C–21

generally. Models C–12 through C–21

provide models for the various notices

required by the regulation. A bank that

cashes a check and places a hold on funds

in an account of the customer (see

§ 229.19(e)) should modify the model hold

notice accordingly. For example, the bank

could replace the word ‘‘deposit’’ with the

word ‘‘transaction’’ and could add the phrase

‘‘or cashed’’ after the word ‘‘deposited.’’

2. Model C–12 Exception hold notice.

This model satisfies the written notice

required under § 229.13(g) when a bank

places a hold based on a § 229.13 exception.

If a hold is being placed on more than one

check in a deposit, each check need not be

described, but if different reasons apply, each

reason must be indicated. A bank may use

the actual date when funds will be available

for withdrawal rather than the number of the

business day following the day of deposit. A

bank must incorporate in the notice the

material set out in brackets if it imposes

overdraft or returned check fees after

invoking the reasonable cause exception

under § 229.13(e).

3. Model C–13 Reasonable cause hold

notice. This notice satisfies the written notice

required under § 229.13(g) when a bank

invokes the reasonable cause exception

under § 229.13(e). The notice provides the

bank with a list of specific reasons that may

be given for invoking the exception. If a hold

is being placed on more than one check in

a deposit, each check must be described

separately, and if different reasons apply,

each reason must be indicated. A bank may

disclose its reason for doubting collectibility

by checking the appropriate reason on the

model. If the ‘‘Other’’ category is checked,

the reason must be given. A bank may use

the actual date when funds will be available

for withdrawal rather than the number of the

business day following the day of deposit. A

bank must incorporate in the notice the

material set out in brackets if it imposes

overdraft or returned check fees after

invoking the reasonable cause exception

under § 229.13(e).

4. Model C–14 One-time notice for large

deposit and redeposited check exception

holds. This model satisfies the notice

requirements of § 229.13(g)(2) concerning

nonconsumer accounts.

5. Model C–15 One-time notice for

repeated overdraft exception hold. This

model satisfies the notice requirements of

§ 229.13(g)(3).

6. Model C–16 Case-by-case hold notice.

This model satisfies the notice required

under § 229.16(c)(2) when a bank with a caseby-case hold policy imposes a hold on a

deposit. This notice does not require a

statement of the specific reason for the hold,

as is the case when a § 229.13 exception hold

is placed. A bank may specify the actual date

when funds will be available for withdrawal

rather than the number of the business day

following the day of deposit when funds will

be available. A bank must incorporate in the

notice the material set out in brackets if it

imposes overdraft fees after invoking a caseby-case hold.

7. Model C–17 Notice at locations where

employees accept consumer deposits and

Model C–18 Notice at locations where

employees accept consumer deposits (caseby-case holds). These models satisfy the

notice requirement of § 229.18(b). Model C–

17 reflects an availability policy of holds to

statutory limits on all deposits, and Model C–

18 reflects a case-by-case availability policy.

8. Model C–19 Notice at automated teller

machines. This model satisfies the ATM

notice requirement of § 229.18(c)(1).

9. Model C–20 Notice at automated teller

machines (delayed receipt). This model

satisfies the ATM notice requirement of

§ 229.18(c)(2) when receipt of deposits at offpremises ATMs is delayed under

§ 229.19(a)(4). It is based on collection of

deposits once a week. If collections occur

more or less frequently, the description of

when deposits are received must be adjusted

accordingly.

10. Model C–21 Deposit slip notice. This

model satisfies the notice requirements of

§ 229.18(a) for deposit slips.

By order of the Board of Governors of the

Federal Reserve System, March 17, 1997.

William W. Wiles,

Secretary of the Board.

[FR Doc. 97–7156 Filed 3–21–97; 8:45 am]

BILLING CODE 6210–01–P

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Part 232

[Release Nos. 33–7405; 34–38419; 35–

26688; 39–2348; IC–22571]

RIN 3235–AG96

Adoption of Updated EDGAR Filer

Manual; Correction and Delay of

Implementation

AGENCY: Securities and Exchange

Commission.

ACTION: Final rule; correction and delay

of implementation.

SUMMARY: The Commission is correcting

an amendment to Regulation S–T to

conform to the Office of Federal

Register’s requirements for

incorporation by reference and

postponing the implementation of an

updated edition of the EDGAR Filer

Manual which was published in the

Federal Register on February 27, 1997

[62 FR 8877] in order to resolve

technical issues that delayed system

implementation from March 10, 197 to

March 24, 1997. The incorporation by

reference into the Code of Federal

Regulations remains March 10, 1997.

DATES: The correction to § 232.301 is

effective March 10, 1997. The

implementation of the new edition of

the EDGAR Filer Manual is delayed

until March 24, 1997. The incorporation

by reference of the EDGAR Filer Manual

approved by the Director of the Federal

Register as of March 10, 1997 remains

unchanged.

FOR FURTHER INFORMATION CONTACT:

In the Office of Information Technology,

David T. Copenhafer at (202) 942–8800;

for questions concerning investment

company filings, Ruth Armfield

Sanders, Senior Counsel, Division of

Investment Management, at (202) 942–

0591; and for questions with respect to

documents subject to review by the

Division of Corporation Finance,

Margaret R. Black at (202) 942–2940.

SUPPLEMENTARY INFORMATION: On

February 27, 1997, the Commission

announced the adoption of an updated

EDGAR Filer Manual (‘‘Filer Manual’’),

which sets forth the technical formatting

requirements governing the preparation

and submission of electronic filings
Federal Register / Vol. 62, No. 56 / Monday, March 24, 1997 / Rules and Regulations 13821

1The Filer Manual originally was adopted on

April 1, 1993, and became effective on April 26,

1993. Release No. 33–6986 (April 1, 1993) [58 FR

18638]. The most recent update to the Filer Manual

was adopted in Release No. 33–7394 (February 21,

1997) [61 FR 8877], and became effective on March

10, 1997.

2See Release Nos. 33–6977 (February 23, 1993)

[58 FR 14628], IC–19284 (February 23, 1993) [58 FR

14848], 35–25746 (February 23, 1993) [58 FR

14999], and 33–6980 (February 23, 1993 [58 FR

15009] for a comprehensive treatment of the rules

adopted by the Commission governing mandated

electronic filing. See also Release No. 33–7122

(December 19, 1994) [59 FR 67752], in which the

Commission made the EDGAR rules final and

applicable to all domestic registrants and adopted

minor amendments to the EDGAR rules; Release

No. 33–7394, in which the Commission adopted the

most recent update to the Filer Manual; and Release

No. 33–7369 (December 5, 1996) [61 FR 65440], in

which the Commission proposed additional minor

technical amendments to the EDGAR rules.

3 17 CFR 274.21 (certificate of accounting of

securities and similar investments in the custody of

management investment companies filed pursuant

to Rule 17f–1).

4 17 CFR 274.220 (certificate of accounting of

securities and similar investments in the custody of

management investment companies filed pursuant

to Rule 7f–2).

5 17 CFR 240.23c–2(b) (notice by closed-end

investment companies of intention to call or redeem

their own securities).

6 17 CFR 274.221 (notification of periodic

repurchase offer).

7 17 CFR 240.23c–3. Submission type ‘‘N–23C3A’’

is to be used for filings made pursuant to Rule 23c–

3(a) only; ‘‘N–23C3B,’’ Rule 23c–3(b) only; and ‘‘N–

23C3C,’’ Rule 23c–3(a) and (b).

8 17 CFR 230.462(b).

9 15 U.S.C. 77a et seq. The new submission types

are: S–4MEF (for use in connection with

registration statements filed on Form S–4 [17 CFR

239.25]) and F–4MEF (for use in connection with

registration statements on Form F–4 [17 CFR

239.34]). All other submission types used for Rule

462(b) filings were added to the EDGAR system in

November 1995. See Release No. 33–7241

(November 13, 1995) [60 FR 57682]

through the Electronic Data Gathering,

Analysis, and Retrieval (‘‘EDGAR’’)

system.1 Compliance with the

provisions of the Filer Manual is

required in order to assure the timely

acceptance and processing of filings

made in electronic format. Filers should

consult the Filer Manual in conjunction

with the Commission’s rules governing

mandated electronic filing when

preparing documents for electronic

submission.2

In this update, several submission

types have been added to accommodate

electronic submission of certain

investment company filings.

Specifically, new EDGAR submission

types ‘‘40–17F1’’ and ‘‘40–17F2’’ have

been added to accommodate the filing of

Forms N–17F–1 3 and N–17F–2; 4

submission type ‘‘N–23C–2,’’ to

accommodate filings under Rule 23c–

2(b); 5 and submission types ‘‘N–

23C3A,’’ ‘‘N–23C3B,’’ and ‘‘N–23C3C,’’

to accommodate the filing of Form

N–23C–3,6 pursuant to Rule 23c–3.7

With respect to documents subject to

review by the Division of Corporation

Finance, two additional submission

types have been added to accommodate

more completely the electronic

submission of filings made pursuant to

Rule 462(b) 8 under the Securities Act of

1933.9

Rule 301 of Regulation S–T was

amended to provide for the

incorporation by reference of the Filer

Manual into the Code of Federal

Regulations, which incorporation by

reference was approved by the Director

of the Federal Register in accordance

with 5 U.S.C. 552(a) and 1 CFR Part 51.

The effective date of the amendment to

Rule 301 will remain March 10, 1997. A

minor correction is being made to

conform to the Office of Federal

Register’s requirements for

incorporation by reference.

Technical issues surfaced on the

afternoon of March 7, 1997 that

prevented system implementation on

March 10, 1997. The Commission,

therefore, is postponing the

implementation of the Manual from

March 10, 1997 to March 24, 1997.

Need for Correction

As published, the final regulations

contain an error which may prove to be

misleading and is in need of

clarification.

Correction of Publication

Accordingly, the publication on

February 27, 1997 of the final

regulations, which were the subject of

FR Doc. 97–4797, is corrected as

follows:

§ 232.301 [Corrected]

On page 8876, second column, in

§ 232.301, last line, add a sentence to

the end of the section to read as follows:

* * * Copies may be inspected at the

Office of the Federal Register, Suite 700,

800 North Capitol Street, N.W.,

Washington, D.C.

Dated: March 19, 1997.

By the Commission.

Jonathan G. Katz,

Secretary.

[FR Doc. 97–7340 Filed 3–21–97; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

21 CFR Part 5

Delegations of Authority and

Organization

AGENCY: Food and Drug Administration,

HHS.

ACTION: Final rule.

SUMMARY: The Food and Drug

Administration (FDA) is amending the

regulations for delegations of authority

to set forth the current organizational

structure of the agency as well as the

current addresses for headquarters and

field offices. The agency is also

redesignating certain sections of the

regulations to allow for expansion in the

delegation of authority section. This

action is necessary to ensure the

continued accuracy of the regulations.

EFFECTIVE DATE: March 24, 1997.

FOR FURTHER INFORMATION CONTACT:

L’Tonya J. Barnes, Division of

Management Systems and Policy (HFA–

340), Food and Drug Administration,

5600 Fishers Lane, Rockville, MD

20857, 301–827–4807.

SUPPLEMENTARY INFORMATION: The

regulations are being amended in

subpart C of part 5 (21 CFR part 5) to

reflect the central organization of the

agency and to provide current addresses

for headquarters and field offices. The

regulations are also being amended by

redesignating §§ 5.100, 5.105, 5.110, and

5.115 as §§ 5.200, 5.205, 5.210, and

5.215, respectively, to permit the

expansion of subpart B to allow for

added delegations.

Notice and comment on these

amendments are not necessary under

the Administrative Procedure Act

because this is a rule of agency

organization (5 U.S.C. 553(b)).

List of Subjects in 21 CFR Part 5

Authority delegations (Government

agencies), Imports, Organization and

functions (Government agencies).

Therefore, under the Federal Food,

Drug, and Cosmetic Act and under

authority delegated to the Commissioner

of Food and Drugs, 21 CFR part 5 is

amended as follows:

PART 5—DELEGATIONS OF

AUTHORITY AND ORGANIZATION

1. The authority citation for 21 CFR

part 5 continues to read as follows:

Authority: 5 U.S.C. 504, 552, App. 2; 7

U.S.C. 138a, 2271; 15 U.S.C. 638, 1261–1282,

3701–3711a; secs. 2–12 of the Fair Packaging