Federal Register / Vol. 63, No. 121 /Wednesday, June 24, 1998 /Rules and Regulations 34267

performed for the purpose of certifying

breeding swine for movement interstate,

but we estimate the number to be small.

We anticipate, therefore, that this

action will have a minimal positive

economic impact, if any, on swine

producers in Oklahoma.

Under these circumstances, the

Administrator of the Animal and Plant

Health Inspection Service has

determined that this action will not

have a significant economic impact on

a substantial number of small entities.

Executive Order 12372

This program/activity is listed in the

Catalog of Federal Domestic Assistance

under No. 10.025 and is subject to

Executive Order 12372, which requires

intergovernmental consultation with

State and local officials. (See 7 CFR part

3015, subpart V.)

Executive Order 12988

This rule has been reviewed under

Executive Order 12988, Civil Justice

Reform. This rule: (1) Preempts all State

and local laws and regulations that are

in conflict with this rule; (2) has no

retroactive effect; and (3) does not

require administrative proceedings

before parties may file suit in court

challenging this rule.

Paperwork Reduction Act

This rule contains no information

collection or recordkeeping

requirements under the Paperwork

Reduction Act of 1995 (44 U.S.C. 3501

et seq.).

List of Subjects in 9 CFR Part 78

Animal diseases, Bison, Cattle, Hogs,

Quarantine, Reporting and

recordkeeping requirements,

Transportation.

Accordingly, 9 CFR part 78 is

amended as follows:

PART 78—BRUCELLOSIS

1. The authority citation for part 78

continues to read as follows:

Authority: 21 U.S.C. 111–114a–1, 114g,

115, 117, 120, 121, 123–126, 134b, and 134f;

7 CFR 2.22, 2.80, and 371.2(d).

§ 78.43 [Amended]

2. Section 78.43 is amended by

adding ‘‘Oklahoma,’’ immediately after

‘‘Ohio’’.

Done in Washington, DC, this 16th day of

June 1998.

Charles Schwalbe,

Acting Administrator, Animal and Plant

Health Inspection Service.

[FR Doc. 98–16748 Filed 6–23–98; 8:45 am]

BILLING CODE 3410–34–P

FARM CREDIT ADMINISTRATION

12 CFR Part 607

RIN 3052–AB83

Assessment and Apportionment of

Administrative Expenses; Technical

Change

AGENCY: Farm Credit Administration.

ACTION: Direct final rule with

opportunity for comment.

SUMMARY: The Farm Credit

Administration (FCA or Agency),

through the FCA Board (Board), issues

a direct final rule that makes technical

amendments to its assessment

regulations in order to conform to the

recently adopted FCA Board policy

statement on its financial institution

rating system. The Financial Institution

Rating System (FIRS) is the rating

system used by FCA examiners for

evaluating and categorizing the safety

and soundness of Farm Credit System

(System) institutions on an ongoing,

uniform, and comprehensive basis. The

FIRS modified the FCA Rating System

(which had been referred to as the

CAMEL rating system) by adding a

separate rating factor for sensitivity to

market risk. In accordance with the

FIRS policy statement, these technical

amendments replace the reference to

‘‘composite CAMEL rating’’ (the

acronym CAMEL referred to the

following five rating components:

capital, asset quality, management,

earnings, and liquidity), with

‘‘composite Financial Institution Rating

System (FIRS) rating’’ and replace

references to ‘‘CAMEL’’ with ‘‘FIRS.’’

The technical amendments do not

substantively change the FCA

assessment process or adversely affect

System institutions.

DATES: If no significant adverse

comment is received on or before July

24, 1998, these regulations shall be

effective upon the expiration of 30 days

after publication in the Federal Register

during which either or both Houses of

Congress are in session. Notice of the

effective date will be published in the

Federal Register. If significant adverse

comment is received, the FCA will

publish a timely notice of withdrawal of

the regulations and indicate how the

Agency expects to proceed with further

rulemaking.

ADDRESSES: Comments may be

submitted via electronic mail to ‘‘regcomm@fca.gov’’ or facsimile

transmission to (703) 734–5784.

Comments also may be mailed or

delivered to Patricia W. DiMuzio,

Director, Regulation and Policy

Division, Office of Policy and Analysis,

Farm Credit Administration, 1501 Farm

Credit Drive, McLean, Virginia 22102–

5090. Copies of all communications

received will be available for review by

interested parties in the Office of Policy

and Analysis, Farm Credit

Administration.

FOR FURTHER INFORMATION CONTACT:

Andrew D. Jacob, Senior Financial

Analyst, Office of Policy and

Analysis, Farm Credit Administration,

McLean, Virginia 22102–5090, (703)

883–4498, TDD (703) 883–4444

or

Wendy R. Laguarda, Senior Attorney,

Office of General Counsel, Farm

Credit Administration, McLean,

Virginia 22102–5090, (703) 883–4020,

TDD (703) 883–4444.

SUPPLEMENTARY INFORMATION:

I. Background

The Board is making technical

amendments to its assessment

regulations to replace the reference to

‘‘composite CAMEL rating’’ with

‘‘composite Financial Institution Rating

System (FIRS) rating’’ and to replace

references to ‘‘CAMEL’’ with ‘‘FIRS.’’

The technical amendments reflect the

Board’s adoption, at its April 9, 1998

Board meeting, of a policy statement on

the FIRS. The policy statement

establishes six rating factor components

and a composite rating that reflect the

condition and overall safety and

soundness of a System institution. The

FIRS policy statement differs from the

previous CAMEL rating system by the

addition of a sixth rating component—

the ‘‘S’’ component for sensitivity to

market risk. Hence, the six rating factor

components of the FIRS are capital,

assets, management, earnings, liquidity,

and sensitivity (‘‘S’’ component). The

policy statement also sets forth the

responsibility of the Chief Examiner to

implement, maintain, and recommend

to the FCA Board changes to the rating

system and to establish appropriate

evaluative criteria for determining FIRS

composite and component ratings.

The FIRS is an internal rating system

used by the FCA for evaluating the

safety and soundness of System

institutions on a uniform basis and for

identifying those System institutions

requiring special supervisory attention

or concern. In addition, the FIRS also

provides the Agency with valuable

information for assessing risk and

allocating resources based on the safety

and soundness of regulated institutions.

The FIRS is similar to the system known

as the Uniform Financial Institutions

Rating System (UFIRS), which is used

by Federal and state supervisory
34268 Federal Register / Vol. 63, No. 121 /Wednesday, June 24, 1998 /Rules and Regulations

banking agencies for rating commerical

banks and savings associations.

The FIRS policy statement was

published in the Federal Register at 63

FR 19918, April 22, 1998. In addition,

the evaluative criteria for determining

FIRS composite and component ratings

is set forth in the FCA Examination

Manual at section EM 135. The

examination manual is a public

document and available for a fee upon

request from the FCA or through the

FCA’s Internet Home Page (http://

www.fca.gov).

II. Direct Final Rulemaking

The FCA is using a ‘‘direct final’’

procedure for this rulemaking. In a

direct final rulemaking, an agency gives

notice that a rule will become final at a

specified future date unless the agency

receives significant adverse comment on

the rule during the comment period

established in the rulemaking notice.

Direct final rulemaking is justified

under section 553(b)(B) of the

Administrative Procedure Act, 5 U.S.C.

551–59, et seq. (APA). Section 553(b)(B)

is the APA’s ‘‘good cause’’ exemption

for omitting notice and comment on a

rule where an agency finds ‘‘that notice

and public procedure thereon are

impracticable, unnecessary, or contrary

to the public interest.’’ However, rather

than eliminating public comment

altogether, as would be permissible

under section 553(b)(B), in a direct final

rule, the FCA gives the public adequate

opportunity to comment on or object to

a rule. For a full explanation of direct

final rulemaking, see 62 FR 63644

(December 3, 1997).

The FCA believes that the technical

amendments to the assessment

regulations fit the category of rules

appropriate for direct final rulemaking.

These changes merely conform the

regulations to the FCA Board’s policy

statement on FIRS. The changes amend

current regulatory references to

‘‘composite CAMEL rating’’ with an

updated reference to ‘‘composite FIRS

rating.’’ As such, the changes are

straightforward and noncontroversial.

This rule has a 30-day comment

period. If, during that period, the FCA

receives a significant adverse comment

on the rule, the FCA will withdraw the

rule and may either issue another direct

final rule or promulgate the rule in

proposed form. A significant adverse

comment is defined as one where the

commenter explains why the rule would

be inappropriate, including challenges

to the rule’s underlying premise or

approach, or would be ineffective or

unacceptable without a change. In

general, a significant adverse comment

would raise an issue serious enough to

warrant a substantive response from the

FCA in a notice-and-comment

proceeding.

If no significant adverse comment is

received, the FCA will publish its

customary notice of the effective date of

the rule following the required

Congressional waiting period under

section 5.17(c)(1) of the Farm Credit Act

of 1971, as amended.

List of Subjects in 12 CFR Part 607

Accounting, Agriculture, Banks,

Banking, Reporting and recordkeeping

requirements, Rural areas.

As stated in the preamble, part 607 of

chapter VI, title 12 of the Code of

Federal Regulations is amended as

follows:

PART 607—ASSESSMENT AND

APPORTIONMENT OF

ADMINISTRATIVE EXPENSES

1. The authority citation for part 607

is revised to read as follows:

Authority: Secs. 5.15, 5.17 of the Farm

Credit Act (12 U.S.C. 2250, 2252) and 12

U.S.C. 3025.

2. Section 607.2 is amended by

revising paragraph (c) to read as follows:

§ 607.2 Definitions.

* * * * *

(c) Composite Financial Institution

Rating System (FIRS) rating means the

composite numerical assessment of the

financial condition of an institution

assigned to the institution by the FCA

based on its most recent examination of

the institution. The FIRS factors are

generally considered to be important

indicators of an institution’s financial

health. Institutions are rated on each of

the factors during an examination. The

composite FIRS rating ranges from 1 to

5, with a lower number indicating a

better financial condition than a higher

number.

* * * * *

§ 607.3 [Amended]

3. Section 607.3 is amended by

removing the acronym ‘‘CAMEL’’ and

adding in its place ‘‘FIRS’’ each place it

appears in paragraph (b)(2).

Dated: June 19, 1998.

Floyd Fithian,

Secretary, Farm Credit Administration Board.

[FR Doc. 98–16809 Filed 6–23–98; 8:45 am]

BILLING CODE 6705–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 97–NM–302–AD; Amendment

39–10621; AD 98–13–30]

RIN 2120–AA64

Airworthiness Directives; Gulfstream

Aerospace Corporation Model G–159

(G–I) Airplanes

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Final rule.

SUMMARY: This amendment adopts a

new airworthiness directive (AD),

applicable to all Gulfstream Aerospace

Corporation Model G–159 (G–I)

airplanes, that requires revising the

Airplane Flight Manual (AFM) to

prohibit positioning the power levers

below the flight idle stop. This

amendment is prompted by incidents

and accidents involving airplanes

equipped with turboprop engines in

which the ground propeller beta range

was used improperly during flight. The

actions specified by this AD are

intended to prevent loss of airplane

controllability or engine overspeed with

consequent loss of engine power caused

by the power levers being positioned

below the flight idle stop while the

airplane is in flight.

EFFECTIVE DATE: July 29, 1998.

ADDRESSES: Information pertaining to

this rulemaking action may be examined

at the Federal Aviation Administration

(FAA), Transport Airplane Directorate,

Rules Docket, 1601 Lind Avenue, SW.,

Renton, Washington; or at the FAA,

Small Airplane Directorate, Atlanta

Aircraft Certification Office, 1895

Phoenix Boulevard, suite 450, Atlanta,

Georgia.

FOR FURTHER INFORMATION CONTACT:

Wayne A. Shade, Aerospace Engineer,

Airframe and Propulsion Branch, ACE–

117A , FAA, Small Airplane Directorate,

Atlanta Aircraft Certification Office,

1895 Phoenix Boulevard, suite 450,

Atlanta, Georgia 30349; telephone (770)

703–7337; fax (770) 703–6097.

SUPPLEMENTARY INFORMATION: A

proposal to amend part 39 of the Federal

Aviation Regulations (14 CFR part 39) to

include an airworthiness directive (AD)

that is applicable to all Gulfstream

Aerospace Corporation Model G–159

(G–I) airplanes was published in the

Federal Register on April 27, 1998 (63

FR 20556). That action proposed to

require revising the Limitations Section

of the Airplane Flight Manual (AFM) to

prohibit the positioning of the power