Federal Register / Vol. 70, No. 187 / Wednesday, September 28, 2005 / Rules and Regulations 56563 

The proposed rule concerning this 

action was published in the Federal 

Register on August 16, 2005 (70 FR 

48082). Copies of the rule were mailed 

or sent via facsimile to all Committee 

members and kiwifruit handlers. 

Finally, the rule was made available 

through the Internet by USDA and the 

Office of the Federal Register. A 20-day 

comment period ending September 6, 

2005, was provided to allow interested 

persons to respond to the proposal. No 

comments were received. 

A small business guide on complying 

with fruit, vegetable, and specialty crop 

marketing agreements and orders may 

be viewed at: http://www.ams.usda.gov/ 

fv/moab.html. Any questions about the 

compliance guide should be sent to Jay 

Guerber at the previously mentioned 

address in the FOR FURTHER INFORMATION

CONTACT section. 

After consideration of all relevant 

matter presented, including the 

information and recommendation 

submitted by the Committee and other 

available information, it is hereby found 

that this rule, as hereinafter set forth, 

will tend to effectuate the declared 

policy of the Act. 

It is further found that good cause 

exists for not postponing the effective 

date of this rule until 30 days after 

publication in the Federal Register (5 

U.S.C. 553) because: (1) The 2005–06 

fiscal period began on August 1, 2005, 

and the marketing order requires that 

the rate of assessment for each fiscal 

period apply to all assessable kiwifruit 

handled during such fiscal period; (2) 

the Committee needs to have sufficient 

funds to pay its expenses which are 

incurred on a continuous basis and; (3) 

handlers are aware of this action which 

was unanimously recommended by the 

Committee at a public meeting and is 

similar to other assessment rate actions 

issued in past years. In addition, a 20- 

day comment period was provided for 

in the proposed rule. 

List of Subjects in 7 CFR Part 920 

Kiwifruit, Marketing agreements, 

Reporting and record keeping 

requirements. 

■ For the reasons set forth in the 

preamble, 7 CFR part 920 is amended as 

follows: 

PART 920—KIWIFRUIT GROWN IN 

CALIFORNIA 

■ 1. The authority citation for 7 CFR 

part 920 continues to read as follows: 

Authority: 7 U.S.C. 601–674. 

■ 2. Section 920.213 is revised to read 

as follows: 

§ 920.213 Assessment rate. 

On and after August 1, 2005, an 

assessment rate of $0.045 per 9-kilo 

volume-fill container or equivalent of 

kiwifruit is established for kiwifruit 

grown in California. 

Dated: September 22, 2005. 

Lloyd C. Day, 

Administrator, Agricultural Marketing 

Service. 

[FR Doc. 05–19309 Filed 9–27–05; 8:45 am] 

BILLING CODE 3410–02–P 

FEDERAL RESERVE SYSTEM 

12 CFR Part 201 

[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 an increase in the primary 

credit rate at each Federal Reserve Bank. 

The secondary credit rate at each 

Reserve Bank automatically increased 

by formula as a result of the Board’s 

primary credit rate action. 

DATES: The amendments to part 201 

(Regulation A) are effective September 

28, 2005. The rate changes for primary 

and secondary credit were effective on 

the dates specified in 12 CFR 201.51, as 

amended. 

FOR FURTHER INFORMATION CONTACT: 

Jennifer J. Johnson, Secretary of the 

Board ((202) 452–3259); for users of 

Telecommunication Devices for the Deaf 

(TDD) only, contact (202) 263–4869. 

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 

the review and determination of the 

Board. 

The Board approved requests by the 

Reserve Banks to increase by 25 basis 

points the primary credit rate in effect 

at each of the twelve Federal Reserve 

Banks, thereby increasing from 4.50 

percent to 4.75 percent the rate that 

each Reserve Bank charges for 

extensions of primary credit. As a result 

of the Board’s action on the primary 

credit rate, the rate that each Reserve 

Bank charges for extensions of 

secondary credit automatically 

increased from 5.00 percent to 5.25 

percent under the secondary credit rate 

formula. The final amendments to 

Regulation A reflect these rate changes. 

The 25-basis-point increase in the 

primary credit rate was associated with 

a similar increase in the target for the 

federal funds rate (from 3.50 percent to 

3.75 percent) approved by the Federal 

Open Market Committee (Committee) 

and announced at the same time. A 

press release announcing these actions 

indicated that: 

Output appeared poised to continue 

growing at a good pace before the tragic toll 

of Hurricane Katrina. The widespread 

devastation in the Gulf region, the associated 

dislocation of economic activity, and the 

boost to energy prices imply that spending, 

production, and employment will be set back 

in the near term. In addition to elevating 

premiums for some energy products, the 

disruption to the production and refining 

infrastructure may add to energy price 

volatility. 

While these unfortunate developments 

have increased uncertainty about near-term 

economic performance, it is the Committee’s 

view that they do not pose a more persistent 

threat. Rather, monetary policy 

accommodation, coupled with robust 

underlying growth in productivity, is 

providing ongoing support to economic 

activity. Higher energy and other costs have 

the potential to add to inflation pressures. 

However, core inflation has been relatively 

low in recent months and longer-term 

inflation expectations remain contained. 

The Committee perceives that, with 

appropriate monetary policy action, the 

upside and downside risks to the attainment 

of both sustainable growth and price stability 

should be kept roughly equal. With 

underlying inflation expected to be 

contained, the Committee believes that 

policy accommodation can be removed at a 

pace that is likely to be measured. 

Nonetheless, the Committee will respond to 

changes in economic prospects as needed to 

fulfill its obligation to maintain price 

stability. 

Regulatory Flexibility Act Certification 

Pursuant to the Regulatory Flexibility 

Act (5 U.S.C. 605(b)), the Board certifies 

that the new primary and secondary 

credit rates will not have a significantly 

adverse economic impact on a 

substantial number of small entities 

because the final rule does not impose 

any additional requirements on entities 

affected by the regulation. 

56564 Federal Register / Vol. 70, No. 187 / Wednesday, September 28, 2005 / Rules and Regulations 

1The 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. 

Administrative Procedure Act 

The Board did not follow the 

provisions of 5 U.S.C. 553(b) relating to 

notice and public participation in 

connection with the adoption of these 

amendments because the Board for good 

cause determined that delaying 

implementation of the new primary and 

secondary credit rates in order to allow 

notice and public comment would be 

unnecessary and contrary to the public 

interest in fostering price stability and 

sustainable economic growth. For these 

same reasons, the Board also has not 

provided 30 days prior notice of the 

effective date of the rule under section 

553(d). 

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.1

(a) Primary credit. The interest rates 

for primary credit provided to 

depository institutions under § 201.4(a) 

are: 

Federal Reserve Bank Rate Effective 

Boston ............ 4.75 September 20, 2005. 

New York ....... 4.75 September 20, 2005. 

Philadelphia ... 4.75 September 20, 2005. 

Cleveland ....... 4.75 September 22, 2005. 

Richmond ....... 4.75 September 20, 2005. 

Atlanta ............ 4.75 September 22, 2005. 

Chicago .......... 4.75 September 20, 2005. 

St. Louis ......... 4.75 September 21, 2005. 

Minneapolis .... 4.75 September 20, 2005. 

Kansas City ... 4.75 September 20, 2005. 

Dallas ............. 4.75 September 22, 2005. 

San Francisco 4.75 September 20, 2005. 

(b) Secondary credit. The interest 

rates for secondary credit provided to 

depository institutions under 201.4(b) 

are: 

Federal Reserve Bank Rate Effective 

Boston ............ 5.25 September 20, 2005. 

New York ....... 5.25 September 20, 2005. 

Philadelphia ... 5.25 September 20, 2005. 

Cleveland ....... 5.25 September 22, 2005. 

Richmond ....... 5.25 September 20, 2005. 

Atlanta ............ 5.25 September 22, 2005. 

Chicago .......... 5.25 September 20, 2005. 

St. Louis ......... 5.25 September 21, 2005. 

Minneapolis .... 5.25 September 20, 2005. 

Kansas City ... 5.25 September 20, 2005. 

Dallas ............. 5.25 September 22, 2005. 

San Francisco 5.25 September 20, 2005. 

* * * * * 

By order of the Board of Governors of the 

Federal Reserve System, September 22, 2005. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. 05–19395 Filed 9–27–05; 8:45 am] 

BILLING CODE 6210–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 23 

[Docket No. CE231, Special Condition 23–

171–SC] 

Special Conditions; Premier Avionics 

Design Ltd., EFIS on the Cessna 441; 

Protection of Systems for High 

Intensity Radiated Fields (HIRF) 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final special conditions; request 

for comments. 

SUMMARY: These special conditions are 

issued to Premier Avionics Design Ltd., 

12002 Warfield, Suite 250, San Antonio, 

TX 78216, for a Supplemental Type 

Certificate for the Cessna 441 Conquest. 

This airplane will have novel and 

unusual design features when compared 

to the state of technology envisaged in 

the applicable airworthiness standards. 

These novel and unusual design 

features include the installation of an 

electronic flight instrument system 

(EFIS) in the form of two digital 

altimeters. The digital altimeters will be 

Thommen Model AD32E, one on the 

pilot side and one on the copilot side, 

for which the applicable regulations do 

not contain adequate or appropriate 

airworthiness standards for the 

protection of these systems from the 

effects of high intensity radiated fields 

(HIRF). These special conditions 

contain the additional safety standards 

that the Administrator considers 

necessary to establish a level of safety 

equivalent to the airworthiness 

standards applicable to these airplanes. 

DATES: The effective date of these 

special conditions is September 13, 

2005. Comments must be received on or 

before October 28, 2005. 

ADDRESSES: Comments may be mailed 

in duplicate to: Federal Aviation 

Administration, Regional Counsel, 

ACE–7, Attention: Rules Docket Clerk, 

Docket No. CE231, Room 506, 901 

Locust, Kansas City, Missouri 64106. All 

comments must be marked: Docket No. 

CE231. Comments may be inspected in 

the Rules Docket weekdays, except 

Federal holidays, between 7:30 a.m. and 

4 p.m. 

FOR FURTHER INFORMATION CONTACT: Wes 

Ryan, Aerospace Engineer, Standards 

Office (ACE–110), Small Airplane 

Directorate, Aircraft Certification 

Service, Federal Aviation 

Administration, 901 Locust, Room 301, 

Kansas City, Missouri 64106; telephone 

(816) 32-4127. 

SUPPLEMENTARY INFORMATION: The FAA 

has determined that notice and 

opportunity for prior public comment 

hereon are impracticable because these 

procedures would significantly delay 

issuance of the design approval and 

thus delivery of the affected aircraft. In 

addition, the substance of these special 

conditions has been subject to the 

public comment process in several prior 

instances with no substantive comments 

received. The FAA, therefore, finds that 

good cause exists for making these 

special conditions effective upon 

issuance. 

Comments Invited 

Interested persons are invited to 

submit such written data, views, or 

arguments, as they may desire. 

Communications should identify the 

regulatory docket or notice number and 

be submitted in duplicate to the address 

specified above. All communications 

received on or before the closing date 

for comments will be considered by the 

Administrator. The special conditions 

may be changed in light of the 

comments received. All comments 

received will be available in the Rules 

Docket for examination by interested 

persons, both before and after the 

closing date for comments. A report 

summarizing each substantive public 

contact with FAA personnel concerning 

this rulemaking will be filed in the 

docket. Commenters wishing the FAA to 

acknowledge receipt of their comments 

submitted in response to this notice 

must include a self-addressed, stamped 

postcard on which the following 

statement is made: ‘‘Comments to 

Docket No. CE231.’’ The postcard will 

be date stamped and returned to the 

commenter.