Federal Register / Vol. 74, No. 57 / Thursday, March 26, 2009 / Rules and Regulations 13083 

RegFlex FCUs that have demonstrated 

sustained superior performance. 

Although the NCUA Board believes 

additional regulatory relief can and 

should be granted, the time limit for an 

FCU to fulfill the partial occupancy 

requirement cannot be unlimited. That 

would be the equivalent of an FCU 

making an impermissible real estate 

investment and also could cause serious 

safety and soundness concerns. NCUA 

recognizes, however, that many real 

estate transactions are complex, time 

consuming, and can involve a host of 

wide-ranging issues that must be 

addressed before an FCU is ready to 

occupy the premises. This is especially 

true in the unimproved land context 

considering the addition of 

construction-related issues. 

Accordingly, NCUA is extending the 

three-year time period to six years for 

RegFlex FCUs but only with respect to 

the acquisition of unimproved land. 

NCUA believes six years is a sufficiently 

long time period to provide RegFlex 

FCUs with the flexibility they need to 

manage their fixed asset portfolios, in 

any context, free of unnecessary 

regulation and consistent with safe and 

sound credit union operations. All other 

substantive aspects of the fixed asset 

rule remain unchanged, including an 

FCU’s ability to request a waiver of the 

partial occupancy requirement. NCUA 

adopts the amendments as proposed 

without change. 

C. Regulatory Procedures 

Regulatory Flexibility Act 

The Regulatory Flexibility Act 

requires NCUA to prepare an analysis to 

describe any significant economic 

impact a rule may have on a substantial 

number of small entities (primarily 

those under ten million dollars in 

assets). This rule provides additional 

flexibility and reduces regulatory 

burden. Accordingly, this rule will not 

have a significant economic impact on 

a substantial number of small credit 

unions, and therefore, no regulatory 

flexibility analysis is required. 

Small Business Regulatory Enforcement 

Fairness Act 

The Small Business Regulatory 

Enforcement Fairness Act (SBREFA) of 

1996, Public Law 104–121, provides 

generally for congressional review of 

agency rules. A reporting requirement is 

triggered in instances where NCUA 

issues a final rule as defined by Section 

551 of the Administrative Procedures 

Act. 5 U.S.C. 551. The Office of 

Information and Regulatory Affairs, an 

office within the Office of Management 

and Budget (OMB), has determined that, 

for purposes of SBREFA, this is not a 

major rule. 

Paperwork Reduction Act 

NCUA has determined that this rule 

will not increase paperwork 

requirements under the Paperwork 

Reduction Act of 1995 and regulations 

of OMB. 

Executive Order 13132 

Executive Order 13132 encourages 

independent regulatory agencies to 

consider the impact of their actions on 

state and local interests. In adherence to 

fundamental federalism principles, 

NCUA, an independent regulatory 

agency as defined in 44 U.S.C. 3502(5), 

voluntarily complies with the executive 

order. This final rule will not have a 

substantial direct effect on the states, on 

the relationship between the national 

government and the states, or on the 

distribution of power and 

responsibilities among the various 

levels of government. NCUA has 

determined that this final rule does not 

constitute a policy that has federalism 

implications for purposes of the 

executive order. 

The Treasury and General Government 

Appropriations Act, 1999—Assessment 

of Federal Regulations and Policies on 

Families 

NCUA has determined that this final 

rule will not affect family well-being 

within the meaning of section 654 of the 

Treasury and General Government 

Appropriations Act, 1999, Public Law 

105–277, 112 Stat. 2681 (1998). 

List of Subjects 

12 CFR Part 701 

Credit unions. 

12 CFR Part 742 

Credit unions, Reporting and 

recordkeeping requirements. 

By the National Credit Union 

Administration Board on March 19, 2009. 

Mary Rupp, 

Secretary of the Board. 

■ For the reasons discussed above, 

NCUA amends 12 CFR parts 701 and 

742 as follows: 

PART 701—ORGANIZATION AND 

OPERATIONS OF FEDERAL CREDIT 

UNIONS 

■ 1. The authority citation for part 701 

continues to read as follows: 

Authority: 12 U.S.C. 1752(5), 1755, 1756, 

1757, 1759, 1761a, 1761b, 1766, 1767, 1782, 

1784, 1787, and 1789. Section 701.6 is also 

authorized by 31 U.S.C. 3717. Section 701.31 

is also authorized by 15 U.S.C. 1601 et seq., 

42 U.S.C. 1861 and 42 U.S.C. 3601–3610. 

Section 701.35 is also authorized by 42 

U.S.C. 4311–4312. 

■ 2. Section 701.36(d) introductory text 

is amended by adding a sentence 

between the first and second sentences 

to read as follows: 

§ 701.36 FCU Ownership of fixed assets. 

* * * * * 

(d) * * * Those federal credit unions 

are also exempt from the three-year 

partial occupancy requirement 

described in paragraph (b) of this 

section when acquiring unimproved 

land for future expansion pursuant to 

the terms of section 742.4(a)(3) of this 

chapter. * * * 

* * * * * 

PART 742—REGULATORY 

FLEXIBILITY PROGRAM 

■ 3. The authority citation for part 742 

continues to read as follows: 

Authority: 12 U.S.C. 1756, 1766. 

■ 4. Section 742.4(a)(3) is amended by 

adding two sentences at the end to read 

as follows: 

§ 742.4 RegFlex Relief. 

(a) * * * 

(3) * * * Section 701.36(b)(2) of this 

chapter concerning the three-year 

partial occupancy requirement when 

acquiring unimproved land for future 

expansion; RegFlex credit unions are 

instead subject to a six-year partial 

occupancy requirement when acquiring 

unimproved land but remain subject to 

all other provisions of that section 

including the waiver provision; 

* * * * * 

[FR Doc. E9–6730 Filed 3–25–09; 8:45 am] 

BILLING CODE 7535–01–P 

FEDERAL HOUSING FINANCE 

AGENCY 

12 CFR Part 1229 

RIN 2590–AA21 

Capital Classifications and Critical 

Capital Levels for the Federal Home 

Loan Banks 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Interim final rule; extension of 

comment period. 

SUMMARY: The Federal Housing Finance 

Agency (FHFA) published in the 

Federal Register of January 30, 2009, an 

interim final rule with request for 

comments that implemented the 

statutory requirement of the Housing 

and Economic Recovery Act of 2008 that 

13084 Federal Register / Vol. 74, No. 57 / Thursday, March 26, 2009 / Rules and Regulations 

FHFA specify critical capital levels for 

the Federal Home Loan Banks (Bank(s)). 

Specifically, the interim final rule 

defined the critical capital level for each 

Bank; established criteria based on the 

amount and type of capital held by a 

Bank for each of the following capital 

classifications: adequately capitalized, 

undercapitalized, significantly 

undercapitalized and critically 

undercapitalized; and delineated 

FHFA’s prompt corrective action 

authority over the Banks. 

The E-mail address to submit 

comments that was listed in the interim 

final rule of January 30, 2009, was 

incorrect. The correct E-mail address is 

listed below. To compensate for this 

error, FHFA is extending the comment 

period 15 days until May 15, 2009, to 

allow all interested parties additional 

time to submit comments on the interim 

final rule. 

DATES: Comments on the interim final 

rule must be received on or before May 

15, 2009. For additional information, 

see SUPPLEMENTARY INFORMATION. 

ADDRESSES: You may submit your 

comments on the interim final rule, 

identified by regulatory information 

number (RIN) 2590–AA21 by any of the 

following methods: 

• U.S. Mail, United Parcel Post, 

Federal Express, or Other Mail Service: 

The mailing address for comments is: 

Alfred M. Pollard, General Counsel and 

Christopher T. Curtis, Senior Deputy 

General Counsel, Attention: Comments/ 

RIN 2590–AA21, Federal Housing 

Finance Agency, Fourth Floor, 1700 G 

Street, NW., Washington, DC 20552. 

• Hand Delivered/Courier: The hand 

delivery address is: Alfred M. Pollard, 

General Counsel and Christopher T. 

Curtis, Senior Deputy General Counsel, 

Attention: Comments/RIN 2590–AA21, 

Federal Housing Finance Agency, 

Fourth Floor, 1700 G Street, NW., 

Washington, DC 20552. The package 

should be logged at the Guard Desk, 

First Floor, on business days between 9 

a.m. and 5 p.m. 

• E-mail: Comments to Alfred M. 

Pollard, General Counsel and 

Christopher T. Curtis, Senior Deputy 

General Counsel, may be sent by e-mail 

to RegComments@FHFA.gov. Please 

include ‘‘RIN 2590–AA21’’ in the 

subject line of the message. 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

FOR FURTHER INFORMATION CONTACT: Julie 

Paller, Senior Financial Analyst, (202) 

408–2842, and Anthony Cornyn, Senior 

Associate Director, (202) 408–2522, 

Division of Federal Home Loan Bank 

Regulation, Federal Housing Finance 

Agency, 1625 Eye Street, NW., 

Washington, DC 20006; or Thomas E. 

Joseph, Senior Attorney-Advisor, (202) 

408–2512, Office of General Counsel, 

Federal Housing Finance Agency, 

Fourth Floor, 1700 G Street, NW., 

Washington, DC 20552. The telephone 

number for the Telecommunications 

Device for the Deaf is (800) 877–8339. 

SUPPLEMENTARY INFORMATION: The FHFA 

invites comments on all aspects of the 

interim final rule, and will amend the 

rule as appropriate after taking all 

comments into consideration. Copies of 

all comments will be posted on the 

internet Web site at http://www.fhfa.gov. 

In addition, copies of all comments 

received will be available for 

examination by the public on business 

days between the hours of 10 a.m. and 

3 p.m., at the Federal Housing Finance 

Agency, Fourth Floor, 1700 G Street, 

NW., Washington, DC 20552. To make 

an appointment to inspect comments, 

please call the Office of General Counsel 

at (202) 414–3751. 

Dated: March 20, 2009. 

James B. Lockhart, III, 

Director, Federal Housing Finance Agency. 

[FR Doc. E9–6780 Filed 3–25–09; 8:45 am] 

BILLING CODE 8070–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2008–1142; Directorate 

Identifier 2008–NM–060–AD; Amendment 

39–15861; AD 2009–07–02] 

RIN 2120–AA64 

Airworthiness Directives; Hawker 

Beechcraft Corporation Model MU– 

300–10 Airplanes and Model 400 and 

400A Series Airplanes; and Raytheon 

(Mitsubishi) Model MU–300 Airplanes 

AGENCY: Federal Aviation 

Administration (FAA), Department of 

Transportation (DOT). 

ACTION: Final rule. 

SUMMARY: The FAA is superseding an 

existing airworthiness directive (AD), 

which applies to certain BEECH Model 

400, 400A, and MU–300–10 airplanes. 

That AD currently requires installation 

of an improved adjustment mechanism 

on the flightcrew seats and replacement 

of the existing aluminum seat 

reinforcement assemblies with steel 

assemblies. This new AD would add 

airplanes to the applicability of the 

existing AD. This AD results from 

reports of incomplete latching of the 

existing adjustment mechanism and 

cracked reinforcement assemblies, 

which could result in sudden shifting of 

a flightcrew seat. We are issuing this AD 

to prevent sudden shifting of a 

flightcrew seat, which could impair the 

flightcrew’s ability to control the 

airplane. 

DATES: This AD becomes effective April 

30, 2009. 

The Director of the Federal Register 

approved the incorporation by reference 

of a certain publication listed in the AD 

as of April 30, 2009. 

The Director of the Federal Register 

approved the incorporation by reference 

of a certain other publication as of 

March 13, 1996 (61 FR 5275, February 

12, 1996). 

ADDRESSES: For service information 

identified in this AD, contact Hawker 

Beechcraft Corporation, Department 62, 

P.O. Box 85, Wichita, Kansas 67201– 

0085; telephone 316–676–8238; fax 

316–676–6706; e-mail 

tmdc@hawkerbeechcraft.com; Internet 

https://www.hawkerbeechcraft.com/ 

service_support/pubs. 

Examining the AD Docket 

You may examine the AD docket on 

the Internet at http:// 

www.regulations.gov; or in person at the 

Docket Management Facility between 9 

a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. The AD 

docket contains this AD, the regulatory 

evaluation, any comments received, and 

other information. The address for the 

Docket Office (telephone 800–647–5527) 

is the Document Management Facility, 

U.S. Department of Transportation, 

Docket Operations, M–30, West 

Building Ground Floor, Room W12–140, 

1200 New Jersey Avenue, SE., 

Washington, DC 20590. 

FOR FURTHER INFORMATION CONTACT: 

William Griffith, Aerospace Engineer, 

Airframe Branch, ACE–118W, FAA, 

Wichita Aircraft Certification Office, 

1801 Airport Road, Room 100, MidContinent Airport, Wichita, Kansas 

67209; telephone (316) 946–4116; fax 

(316) 946–4107. 

SUPPLEMENTARY INFORMATION: 

Discussion 

The FAA issued a notice of proposed 

rulemaking (NPRM) to amend 14 CFR 

part 39 to include an AD that 

supersedes AD 96–03–07, amendment 

39–9504 (61 FR 5275, February 12, 

1996). The existing AD applies to 

certain BEECH Model 400, 400A, and 

MU–300–10 airplanes. That NPRM was 

published in the Federal Register on 

October 31, 2008 (73 FR 64899). That 

NPRM proposed to continue to require