3614 Federal Register / Vol. 90, No. 9 / Wednesday, January 15, 2025 / Rules and Regulations 

VII. Backfit and Issue Finality 

The NRC has not prepared a backfit 

analysis for this final rule. This final 

rule does not involve any provision that 

would impose a backfit, nor is it 

inconsistent with any issue finality 

provision, as those terms are defined in 

10 CFR chapter I. As mandated by 

Congress, this final rule increases CMP 

amounts for violations of alreadyexisting NRC regulations and 

requirements. This final rule does not 

modify any licensee systems, structures, 

components, designs, approvals, or 

procedures required for the construction 

or operation of any facility. 

VIII. Plain Writing 

The Plain Writing Act of 2010 (Pub. 

L. 111–274) requires Federal agencies to 

write documents in a clear, concise, and 

well-organized manner. The NRC has 

written this document to be consistent 

with the Plain Writing Act as well as the 

Presidential Memorandum, ‘‘Plain 

Language in Government Writing,’’ 

published June 10, 1998 (63 FR 31885). 

IX. National Environmental Policy Act 

The NRC has determined that this 

final rule is the type of action described 

as a categorical exclusion in 

§ 51.22(c)(1). Therefore, neither an 

environmental impact statement nor an 

environmental assessment has been 

prepared for this final rule. 

X. Paperwork Reduction Act 

This final rule does not contain a 

collection of information as defined in 

the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.) and, therefore, 

is not subject to the requirements of the 

Paperwork Reduction Act of 1995. 

XI. Congressional Review Act 

This final rule is a rule as defined in 

the Congressional Review Act (5 U.S.C. 

801–808). However, the Office of 

Management and Budget has not found 

it to be a major rule as defined in the 

Congressional Review Act. 

List of Subjects 

10 CFR Part 2 

Administrative practice and 

procedure, Antitrust, Byproduct 

material, Classified information, 

Confidential business information, 

Freedom of information, Environmental 

protection, Hazardous waste, Nuclear 

energy, Nuclear materials, Nuclear 

power plants and reactors, Penalties, 

Reporting and recordkeeping 

requirements, Sex discrimination, 

Source material, Special nuclear 

material, Waste treatment and disposal. 

10 CFR Part 13 

Administrative practice and 

procedure, Claims, Fraud, Organization 

and function (Government agencies), 

Penalties. 

For the reasons set out in the 

preamble and under the authority of the 

Atomic Energy Act of 1954, as amended; 

the Energy Reorganization Act of 1974, 

as amended; 28 U.S.C. 2461 note; and 5 

U.S.C. 552 and 553, the NRC is adopting 

the following amendments to 10 CFR 

parts 2 and 13: 

PART 2—AGENCY RULES OF 

PRACTICE AND PROCEDURE 

■ 1. The authority citation for part 2 

continues to read as follows: 

Authority: Atomic Energy Act of 1954, 

secs. 29, 53, 62, 63, 81, 102, 103, 104, 105, 

161, 181, 182, 183, 184, 186, 189, 191, 234 

(42 U.S.C. 2039, 2073, 2092, 2093, 2111, 

2132, 2133, 2134, 2135, 2201, 2231, 2232, 

2233, 2234, 2236, 2239, 2241, 2282); Energy 

Reorganization Act of 1974, secs. 201, 206 

(42 U.S.C. 5841, 5846); Nuclear Waste Policy 

Act of 1982, secs. 114(f), 134, 135, 141 (42 

U.S.C. 10134(f), 10154, 10155, 10161); 

Administrative Procedure Act (5 U.S.C. 552, 

553, 554, 557, 558); National Environmental 

Policy Act of 1969 (42 U.S.C. 4332); 44 U.S.C. 

3504 note. 

Section 2.205(j) also issued under Sec. 

31001(s), Pub. L. 104–134, 110 Stat. 1321– 

373 (28 U.S.C. 2461 note). 

§ 2.205 [Amended] 

■ 2. In § 2.205, amend paragraph (j) by 

removing the amount ‘‘$362,814’’ and 

adding in its place the amount 

‘‘$372,240’’. 

PART 13—PROGRAM FRAUD CIVIL 

REMEDIES 

■ 3. The authority citation for part 13 

continues to read as follows: 

Authority: 31 U.S.C. 3801 through 3812; 

44 U.S.C. 3504 note. 

Section 13.3 also issued under 28 U.S.C. 

2461 note. 

Section 13.13 also issued under 31 U.S.C. 

3730. 

§ 13.3 [Amended] 

■ 4. In § 13.3, amend paragraphs 

(a)(1)(iv) and (b)(1)(ii) by removing the 

amount ‘‘$13,946’’ and adding in its 

place the amount ‘‘$14,308’’. 

Dated: December 18, 2024. 

For the Nuclear Regulatory Commission. 

Mirela Gavrilas, 

Executive Director for Operations. 

[FR Doc. 2024–31471 Filed 1–14–25; 8:45 am] 

BILLING CODE 7590–01–P 

FEDERAL RESERVE SYSTEM 

12 CFR Part 201 

[Docket No. R–1862; RIN 7100–AG89] 

Regulation A: Extensions of Credit by 

Federal Reserve Banks 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Final rule. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (‘‘Board’’) has 

adopted final amendments to its 

Regulation A to reflect the Board’s 

approval of a decrease in the rate for 

primary credit at each Federal Reserve 

Bank. The secondary credit rate at each 

Reserve Bank automatically decreased 

by formula as a result of the Board’s 

primary credit rate action. 

DATES: 

Effective date: This rule (amendments 

to part 201 (Regulation A)) is effective 

January 15, 2025. 

Applicability date: The rate changes 

for primary and secondary credit were 

applicable on December 19, 2024. 

FOR FURTHER INFORMATION CONTACT: M. 

Benjamin Snodgrass, Senior Counsel 

(202–263–4877), Legal Division, or 

Kristen Payne, Lead Financial 

Institution & Policy Analyst (202–306– 

9573), Division of Monetary Affairs; for 

users of telephone systems via text 

telephone (TTY) or any TTY-based 

Telecommunications Relay Services, 

please call 711 from any telephone, 

anywhere in the United States; Board of 

Governors of the Federal Reserve 

System, 20th and C Streets NW, 

Washington, DC 20551. 

SUPPLEMENTARY INFORMATION: The 

Federal Reserve Banks make primary 

and secondary credit available to 

depository institutions as a backup 

source of funding on a short-term basis, 

usually overnight. The primary and 

secondary credit rates are the interest 

rates that the twelve Federal Reserve 

Banks charge for extensions of credit 

under these programs. In accordance 

with the Federal Reserve Act, the 

primary and secondary credit rates are 

established by the boards of directors of 

the Federal Reserve Banks, subject to 

review and determination of the Board. 

On December 18, 2024, the Board 

voted to approve a 0.25 percentage point 

decrease in the primary credit rate, 

thereby decreasing the primary credit 

rate from 4.75 percent to 4.50 percent. 

In addition, the Board had previously 

approved the renewal of the secondary 

credit rate formula, the primary credit 

rate plus 50 basis points. Under the 

formula, the secondary credit rate 


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Federal Register / Vol. 90, No. 9 / Wednesday, January 15, 2025 / Rules and Regulations 3615 

1 5 U.S.C. 551 et seq. 

2 5 U.S.C. 553(b)(3)(A). 

3 5 U.S.C. 553(d). 

4 5 U.S.C. 553(a)(2). 

5 5 U.S.C. 603, 604. 

6 44 U.S.C. 3506; see 5 CFR part 1320, appendix 

A.1. 

decreased by 0.25 percentage points as 

a result of the Board’s primary credit 

rate action, thereby decreasing the 

secondary credit rate from 5.25 percent 

to 5.00 percent. The amendments to 

Regulation A reflect these rate changes. 

The 0.25 percentage point decrease in 

the primary credit rate was associated 

with a 0.25 percentage point decrease in 

the target range for the federal funds rate 

(from a target range of 41⁄2 percent to 43⁄4

percent to a target range of 41⁄4 percent 

to 41⁄2 percent) announced by the 

Federal Open Market Committee on 

December 18, 2024, as described in the 

Board’s amendment of its Regulation D 

published elsewhere in today’s Federal 

Register. 

Administrative Procedure Act 

In general, the Administrative 

Procedure Act (‘‘APA’’) 1 imposes three 

principal requirements when an agency 

promulgates legislative rules (rules 

made pursuant to Congressionally 

delegated authority): (1) publication 

with adequate notice of a proposed rule; 

(2) followed by a meaningful 

opportunity for the public to comment 

on the rule’s content; and (3) 

publication of the final rule not less 

than 30 days before its effective date. 

The APA provides that notice and 

comment procedures do not apply if the 

agency for good cause finds them to be 

‘‘unnecessary, impracticable, or contrary 

to the public interest.’’ 2 Section 553(d) 

of the APA also provides that 

publication at least 30 days prior to a 

rule’s effective date is not required for 

(1) a substantive rule which grants or 

recognizes an exemption or relieves a 

restriction; (2) interpretive rules and 

statements of policy; or (3) a rule for 

which the agency finds good cause for 

shortened notice and publishes its 

reasoning with the rule.3 The APA 

further provides that the notice, public 

comment, and delayed effective date 

requirements of 5 U.S.C. 553 do not 

apply ‘‘to the extent that there is 

involved . . . a matter relating to agency 

management or personnel or to public 

property, loans, grants, benefits, or 

contracts.’’ 4

Regulation A establishes the interest 

rates that the twelve Reserve Banks 

charge for extensions of primary credit 

and secondary credit. The Board has 

determined that the notice, public 

comment, and delayed effective date 

requirements of the APA do not apply 

to these final amendments to Regulation 

A. The amendments involve a matter 

relating to loans and are therefore 

exempt under the terms of the APA. 

Furthermore, because delay would 

undermine the Board’s action in 

responding to economic data and 

conditions, the Board has determined 

that ‘‘good cause’’ exists within the 

meaning of the APA to dispense with 

the notice, public comment, and 

delayed effective date procedures of the 

APA with respect to the final 

amendments to Regulation A. 

Regulatory Flexibility Analysis 

The Regulatory Flexibility Act 

(‘‘RFA’’) does not apply to a rulemaking 

where a general notice of proposed 

rulemaking is not required.5 As noted 

previously, a general notice of proposed 

rulemaking is not required if the final 

rule involves a matter relating to loans. 

Furthermore, the Board has determined 

that it is unnecessary and contrary to 

the public interest to publish a general 

notice of proposed rulemaking for this 

final rule. Accordingly, the RFA’s 

requirements relating to an initial and 

final regulatory flexibility analysis do 

not apply. 

Paperwork Reduction Act 

In accordance with the Paperwork 

Reduction Act (‘‘PRA’’) of 1995,6 the 

Board reviewed the final rule under the 

authority delegated to the Board by the 

Office of Management and Budget. The 

final rule contains no requirements 

subject to the PRA. 

List of Subjects in 12 CFR Part 201 

Banks, banking, Federal Reserve 

System, Reporting and recordkeeping. 

Authority and Issuance 

For the reasons set forth in the 

preamble, the Board is amending 12 

CFR chapter II as follows: 

PART 201—EXTENSIONS OF CREDIT 

BY FEDERAL RESERVE BANKS 

(REGULATION A) 

■ 1. The authority citation for part 201 

continues to read as follows: 

Authority: 12 U.S.C. 248(i)-(j), 343 et seq., 

347a, 347b, 347c, 348 et seq., 357, 374, 374a, 

and 461. 

■ 2. In § 201.51, paragraphs (a) and (b) 

are revised to read as follows: 

§ 201.51 Interest rates applicable to credit 

extended by a Federal Reserve Bank.3

(a) Primary credit. The interest rate at 

each Federal Reserve Bank for primary 

credit provided to depository 

institutions under § 201.4(a) is 4.50 

percent. 

(b) Secondary credit. The interest rate 

at each Federal Reserve Bank for 

secondary credit provided to depository 

institutions under § 201.4(b) is 5.00 

percent. 

* * * * * 3The primary, secondary, and 

seasonal credit rates described in this 

section apply to both advances and 

discounts made under the primary, 

secondary, and seasonal credit 

programs, respectively. 

By order of the Board of Governors of the 

Federal Reserve System. 

Ann E. Misback, 

Secretary of the Board. 

[FR Doc. 2025–00429 Filed 1–14–25; 8:45 am] 

BILLING CODE 6210–02–P 

FEDERAL RESERVE SYSTEM 

12 CFR Part 204 

[Docket No. R–1863; RIN 7100–AG90] 

Regulation D: Reserve Requirements 

of Depository Institutions 

AGENCY: Board of Governors of the 

Federal Reserve System. 

ACTION: Final rule. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (‘‘Board’’) has 

adopted final amendments to its 

Regulation D to revise the rate of 

interest paid on balances (‘‘IORB’’) 

maintained at Federal Reserve Banks by 

or on behalf of eligible institutions. The 

final amendments specify that IORB is 

4.4 percent, a 0.25 percentage point 

decrease from its prior level. The 

amendment is intended to enhance the 

role of IORB in maintaining the federal 

funds rate in the target range established 

by the Federal Open Market Committee 

(‘‘FOMC’’ or ‘‘Committee’’). 

DATES: 

Effective date: This rule (amendments 

to part 204 (Regulation D)) is effective 

January 15, 2025. 

Applicability date: The IORB rate 

change was applicable on December 19, 

2024. 

FOR FURTHER INFORMATION CONTACT: M. 

Benjamin Snodgrass, Senior Counsel 

(202–263–4877), Legal Division, or 

Kristen Payne, Lead Financial 

Institution & Policy Analyst (202–306– 

9573); for users of telephone systems via 

text telephone (TTY) or any TTY-based 

Telecommunications Relay Services, 

please call 711 from any telephone, 

anywhere in the United States; Board of 

Governors of the Federal Reserve 


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