This section of the FEDERAL REGISTER

contains notices to the public of the proposed

issuance of rules and regulations. The

purpose of these notices is to give interested

persons an opportunity to participate in the

rule making prior to the adoption of the final

rules.

Proposed Rules Federal Register

33649

Vol. 66, No. 122

Monday, June 25, 2001

FEDERAL RESERVE SYSTEM

12 CFR Part 223

[Regulation W; Docket No. R–1103]

Transactions Between Banks and Their

Affiliates; Correction

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Notice of proposed rulemaking;

correction.

SUMMARY: This document supplements

the preamble to a proposed Regulation

W published in the Federal Register of

May 11, 2001, regarding sections 23A

and 23B of the Federal Reserve Act (66

FR 24186). This supplement seeks

comment on whether the Board should

exempt extensions of credit by a bank to

any person that are secured by shares of

a mutual fund for which the bank or an

affiliate of the bank acts as investment

adviser.

DATES: Comments on this supplement,

along with any other comments on the

proposed Regulation W, must be

submitted on or before August 15, 2001.

FOR FURTHER INFORMATION CONTACT:

Pamela G. Nardolilli, Senior Counsel

(202/452–3289), or Mark E. Van Der

Weide, Counsel (202/452–2263), Legal

Division, Board of Governors of the

Federal Reserve System, 20th Street and

Constitution Avenue, NW., Washington,

DC 20551.

SUPPLEMENTARY INFORMATION: On May 2,

2001, the Board approved, in

connection with its approval of the

proposed Regulation W, seeking public

comment on whether to grant an

exemption from section 23A of the

Federal Reserve Act for transactions in

which a bank takes proprietary mutual

fund shares as collateral for a loan. The

preamble to the proposed Regulation W

inadvertently did not contain a request

for comment on this issue. The

following supplement to the Regulation

W preamble presents this comment

request.

Correction

In proposed rule FR Doc. 01–11610,

beginning on page 24186 in the Federal

Register issue of May 11, 2001, make

the following correction in the

SUPPLEMENTARY INFORMATION section. On

page 24201 in the first column, add at

the end of the first full paragraph the

following:

‘‘L. Additional Exemptions

Section 23A(b)(7)(D) includes as a

covered transaction a bank’s acceptance

of securities issued by an affiliate as

collateral for an extension of credit to

any person. Section 23A(b)(1)(D)(ii)

defines as an affiliate of a bank any

mutual fund for which a bank or an

affiliate of the bank acts as an

investment adviser (‘‘proprietary mutual

fund’’). Several commenters have

requested that the Board exempt from

section 23A transactions in which a

bank accepts proprietary mutual fund

shares as collateral for an extension of

credit. The Board asks for comment on

whether granting such an exemption

would be consistent with the purposes

of section 23A. The Board also

specifically seeks comment on whether

to condition the availability of the

exemption, if granted, on any of the

following requirements: (i) The

borrower does not use the proceeds of

the loan to purchase shares of

proprietary mutual funds; (ii) the

borrower is not an executive officer of

the bank or its affiliates; (iii) the price

of the mutual fund shares is quoted

routinely in a widely disseminated

news source; (iv) the shares of the

mutual fund are widely held by the

public; or (v) the bank and its affiliates

do not own in the aggregate more than

5 percent of the shares of the mutual

fund.

The Board also invites comment on

whether additional exemptions from

section 23A are in the public interest

and consistent with the purposes of the

statute.’’

By order of the Board of Governors of the

Federal Reserve System, June 20, 2001.

Jennifer J. Johnson,

Secretary of the Board.

[FR Doc. 01–15869 Filed 6–22–01; 8:45 am]

BILLING CODE 6210–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 2000–SW–37–AD]

Airworthiness Directives; Bell

Helicopter Textron Canada Model

206L–4 Helicopters

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of proposed rulemaking

(NPRM).

SUMMARY: This document proposes

adopting a new airworthiness directive

(AD) for Bell Helicopter Textron Canada

(BHTC) Model 206L–4 helicopters. This

proposal would require installing a high

altitude tail rotor static stop yield

indicator (indicator) to allow operators

to detect excessive bending loads

sustained by the tail rotor yoke. A

preflight check of the indicator would

also be required. This proposal is

prompted by a determination that a tail

rotor yoke with a high altitude rotor

system is susceptible to a static and

dynamic overload. Static overload could

occur after the tail rotor yoke sustains

an excessive bending load due to a

strike from a ground vehicle. Dynamic

overload could occur as a result of a

hard landing. The actions specified by

the proposed AD are intended to

prevent failure of the tail rotor yoke in

flight and subsequent loss of control of

the helicopter.

DATES: Comments must be received on

or before August 24, 2001.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Office of the

Regional Counsel, Southwest Region,

Attention: Rules Docket No. 2000–SW–

37–AD, 2601 Meacham Blvd., Room

663, Fort Worth, Texas 76137. You may

also send comments electronically to

the Rules Docket at the following

address: 9-asw-adcomments@faa.gov.

Comments may be inspected at the

Office of the Regional Counsel between

9 a.m. and 3 p.m., Monday through

Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT:

Marc Belhumeur, Aviation Safety

Engineer, FAA, Rotorcraft Certification

Office, Rotorcraft Directorate, Fort

Worth, Texas 76193–0170, telephone

(817) 222–5177, fax (817) 222–5783.

33650 Federal Register / Vol. 66, No. 122 / Monday, June 25, 2001 / Proposed Rules

SUPPLEMENTARY INFORMATION:

Comments Invited

Interested persons are invited to

participate in the making of the

proposed rule by submitting such

written data, views, or arguments as

they may desire. Communications

should identify the Rules Docket

number and be submitted in triplicate to

the address specified above. All

communications received on or before

the closing date for comments will be

considered before taking action on the

proposed rule. The proposals contained

in this document may be changed in

light of the comments received.

Comments are specifically invited on

the overall regulatory, economic,

environmental, and energy aspects of

the proposed rule. All comments

submitted will be available in the Rules

Docket for examination by interested

persons. A report summarizing each

FAA-public contact concerned with the

substance of this proposal will be filed

in the Rules Docket.

Commenters wishing the FAA to

acknowledge receipt of their mailed

comments submitted in response to this

action must submit a self-addressed,

stamped postcard on which the

following statement is made:

‘‘Comments to Docket No. 2000–SW–

37–AD.’’ The postcard will be date

stamped and returned to the

commenter.

Availability of NPRMs

Any person may obtain a copy of this

NPRM by submitting a request to the

FAA, Office of the Regional Counsel,

Southwest Region, Attention: Rules

Docket No. 2000–SW–37–AD, 2601

Meacham Blvd., Room 663, Fort Worth,

Texas 76137.

Discussion

Transport Canada, the airworthiness

authority for Canada, notified the FAA

that an unsafe condition may exist on

BHTC Model 206L–4 helicopters.

Transport Canada advises that the tail

rotor yoke is susceptible to static and

dynamic overloads. The use of a

previously overloaded yoke creates a

safety hazard since the airworthiness of

the overloaded yoke has been seriously

compromised. There are a number of

events that can lead to overloading the

yoke. Installing an indicator will allow

for timely detection of the overload

condition.

BHTC has issued Alert Service

Bulletin No. 206L–96–104, Revision B,

dated July 24, 1998 (ASB), which

specifies immediate review of all

installed and spare tail rotor yoke

assembly, part number (P/N) 406–012–

102–107, historical records for any static

or dynamic incident. The ASB gives

instructions to install a new indicator,

P/N 206–011–752–101, to detect

excessive bending loads sustained by

the tail rotor yoke. The ASB also

provides helicopter mooring and preflight check information. Transport

Canada classified this ASB as

mandatory and issued AD No. CF–98–

11, dated June 16, 1998, to ensure the

continued airworthiness of these

helicopters in Canada.

This helicopter model is

manufactured in Canada and is type

certificated for operation in the United

States under the provisions of 14 CFR

21.29 and the applicable bilateral

airworthiness agreement. Pursuant to

this bilateral airworthiness agreement,

Transport Canada has kept the FAA

informed of the situation described

above. The FAA has examined the

findings of Transport Canada, reviewed

all available information, and

determined that AD action is necessary

for products of this type design that are

certificated for operation in the United

States.

We have identified an unsafe

condition that is likely to exist or

develop on other BHTC Model 206L–4

helicopters of the same type design

registered in the United States. The

proposed AD would require installing

an indicator, P/N 206–011–752–101,

within 100 hours time-in-service. The

actions would be required to be

accomplished in accordance with the

ASB described previously. A preflight

visual check for damage to the indicator

is also required.

An owner/operator (pilot) may

perform the visual check required by

this AD and must enter compliance with

paragraph (b) of this AD in accordance

with 14 CFR 43.11 and 91.417(a)(2)(v)).

This AD allows a pilot to perform this

check because it involves only a visual

check for damage to the indicator and

can be performed equally well by a pilot

or a mechanic.

The FAA estimates that 16 helicopters

of U.S. registry would be affected by this

proposed AD, that it would take

approximately 0.5 work hour per

helicopter to accomplish the proposed

actions, and that the average labor rate

is $60 per work hour. Required parts

would cost approximately $1753. Based

on these figures, the total cost impact of

the proposed AD on U.S. operators is

estimated to be $28,528.

The regulations proposed herein

would 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. Therefore,

it is determined that this proposal

would not have federalism implications

under Executive Order 13132.

For the reasons discussed above, I

certify that this proposed regulation (1)

is not a ‘‘significant regulatory action’’

under Executive Order 12866; (2) is not

a ‘‘significant rule’’ under the DOT

Regulatory Policies and Procedures (44

FR 11034, February 26, 1979); and (3) if

promulgated, will not have a significant

economic impact, positive or negative,

on a substantial number of small entities

under the criteria of the Regulatory

Flexibility Act. A copy of the draft

regulatory evaluation prepared for this

action is contained in the Rules Docket.

A copy of it may be obtained by

contacting the Rules Docket at the

location provided under the caption

ADDRESSES.

List of Subjects in 14 CFR Part 39

Air transportation, Aircraft, Aviation

safety, Safety.

The Proposed Amendment

Accordingly, pursuant to the

authority delegated to me by the

Administrator, the Federal Aviation

Administration proposes to amend part

39 of the Federal Aviation Regulations

(14 CFR part 39) as follows:

PART 39—AIRWORTHINESS

DIRECTIVES

1. The authority citation for part 39

continues to read as follows:

Authority: 49 U.S.C. 106(g), 40113, 44701.

§ 39.13 [Amended]

2. Section 39.13 is amended by

adding a new airworthiness directive to

read as follows:

Bell Helicopter Textron Canada: Docket No.

2000–SW–37–AD.

Applicability: Model 206L–4 helicopters,

with High Altitude Tail Rotor Kit, part

number (P/N) 206–704–722–101 (BHT–206–

SI–2054), installed, certificated in any

category.

Note 1: This AD applies to each helicopter

identified in the preceding applicability

provision, regardless of whether it has been

otherwise modified, altered, or repaired in

the area subject to the requirements of this

AD. For helicopters that have been modified,

altered, or repaired so that the performance

of the requirements of this AD is affected, the

owner/operator must request approval for an

alternative method of compliance in

accordance with paragraph (d) of this AD.

The request should include an assessment of

the effect of the modification, alteration, or

repair on the unsafe condition addressed by

this AD; and if the unsafe condition has not

been eliminated, the request should include

specific proposed actions to address it.

Federal Register / Vol. 66, No. 122 / Monday, June 25, 2001 / Proposed Rules 33651

Compliance: Required as indicated, unless

accomplished previously.

To prevent failure of the tail rotor yoke in

flight and subsequent loss of control of the

helicopter, accomplish the following:

(a) Within 100 hours time-in-service,

install a high altitude tail rotor static stop

yield indicator (indicator), P/N 206–011–

752–101, in accordance with the

Accomplishment Instructions, Part II, Bell

Helicopter Textron Alert Service Bulletin No.

206L–96–104, Revision B, dated July 24,

1998.

(b) Before each engine start, check the

indicator for damage in accordance with

Figure 1 of this AD. If damage is found,

before further flight, replace the damaged

indicator with an airworthy indicator, and

replace the tail rotor yoke, P/N 406–012–

102–107, with an airworthy tail rotor yoke.

(c) An owner/operator (pilot) holding at

least a private pilot certificate may perform

the visual check required by paragraph (b) of

this AD, and must record compliance in the

helicopter maintenance records in

accordance with 14 CFR 43.11 and

91.417(a)(2)(v)).

(d) An alternative method of compliance or

adjustment of the compliance time that

provides an acceptable level of safety may be

used if approved by the Manager, Rotorcraft

Certification Office, Rotorcraft Directorate,

FAA. Operators shall submit their requests

through an FAA Principal Maintenance

Inspector, who may concur or comment and

then send it to the Manager, Rotorcraft

Certification Office.

Note 2: Information concerning the

existence of approved alternative methods of

compliance with this AD, if any, may be

obtained from the Rotorcraft Certification

Office.

(e) Special flight permits may be issued in

accordance with 14 CFR 21.197 and 21.199

to operate the helicopter to a location where

the requirements of this AD can be

accomplished.

Note 3: The subject of this AD is addressed

in Transport Canada (Canada) AD CF–98–11,

dated June 16, 1998.

Issued in Fort Worth, Texas, on June 15,

2001.

Eric Bries,

Acting Manager, Rotorcraft Directorate,

Aircraft Certification Service.

[FR Doc. 01–15797 Filed 6–22–01; 8:45 am]

BILLING CODE 4910–13–U

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 2001–SW–09–AD]

RIN 2120–AA64

Airworthiness Directives; Agusta

S.p.A. Model A109E Helicopters

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of proposed rulemaking

(NPRM).

SUMMARY: The FAA proposes the

adoption of a new airworthiness

directive (AD) for Agusta S.p.A. Model

A109E helicopters. The proposed AD

would require modifying the passenger

compartment sliding doors by installing

certain locking mechanism kits. The

proposed AD is prompted by accidental

opening of a passenger compartment

sliding door (door) inflight due to a door

locking mechanism that is too easy to

accidentally open. The actions specified

by the proposed AD are intended to

prevent accidental opening of a door in

flight and subsequent loss of objects that

could damage the rotor system.

DATES: Submit any comments on this

proposal by August 24, 2001.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Office of the

Regional Counsel, Southwest Region,

Attention: Rules Docket No. 2001–SW–

09–AD, 2601 Meacham Blvd., Room