60420 Federal Register / Vol. 70, No. 200 / Tuesday, October 18, 2005 / Rules and Regulations 

Administrative Procedure Act 

The Board has not followed the 

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

notice and public participation in 

connection with the adoption of this 

final rule. The revisions to the appendix 

are technical in nature, and the routing 

symbol revisions are required by the 

statutory and regulatory definitions of 

‘‘check-processing region.’’ Because 

there is no substantive change on which 

to seek public input, the Board has 

determined that the § 553(b) notice and 

comment procedures are unnecessary. 

Paperwork Reduction Act 

In accordance with the Paperwork 

Reduction Act of 1995 (44 U.S.C. 3506; 

5 CFR 1320 Appendix A.1), the Board 

has reviewed the final rule under 

authority delegated to the Board by the 

Office of Management and Budget. 

These technical amendments to 

appendix A of Regulation CC will (1) 

delete the reference to the Oklahoma 

City branch office of the Federal Reserve 

Bank of Kansas City and reassign the 

Federal Reserve routing symbols 

currently listed under that office to the 

head office of the Federal Reserve Bank 

of Dallas and (2) delete the reference to 

the Columbus office of the Federal 

Reserve Bank of Cleveland and reassign 

the routing symbols listed under that 

office to the Cincinnati Branch office 

and the head office of that Reserve 

Bank. The depository institutions that 

are located in the affected check 

processing regions and that include the 

routing numbers in their disclosure 

statements would be required to notify 

customers of the resulting change in 

availability under § 229.18(e). However, 

because all paperwork collection 

procedures associated with Regulation 

CC already are in place, the Board 

anticipates that no additional burden 

will be imposed as a result of this 

rulemaking. 

12 CFR Chapter II 

List of Subjects in 12 CFR Part 229 

Banks, Banking, Reporting and 

recordkeeping requirements. 

Authority and Issuance 

■ For the reasons set forth in the 

preamble, the Board is amending 12 

CFR part 229 to read as follows: 

PART 229—AVAILABILITY OF FUNDS 

AND COLLECTION OF CHECKS 

(REGULATION CC) 

■ 1. The authority citation for part 229 

continues to read as follows: 

Authority: 12 U.S.C. 4001–4010, 12 U.S.C. 

5001–5018. 

■ 2. Effective December 10, 2005, the 

Tenth and Eleventh Federal Reserve 

District routing symbol lists in appendix 

A are revised to read as follows: 

Appendix A To Part 229—Routing 

Number Guide To Next-Day 

Availability Checks and Local Checks 

* * * * * 

Tenth Federal Reserve District 

[Federal Reserve Bank of Kansas City] 

Head Office 

1010 3010 

1011 3011 

1012 3012 

1019 3019 

Denver Branch 

1020 3020 

1021 3021 

1022 3022 

1023 3023 

1070 3070 

1240 3240 

1241 3241 

1242 3242 

1243 3243 

Eleventh Federal Reserve District 

[Federal Reserve Bank of Dallas] 

Head Office 

1030 3030 

1031 3031 

1039 3039 

1110 3110 

1111 3111 

1113 3113 

1119 3119 

1120 3120 

1122 3122 

1123 3123 

1130 3130 

1131 3131 

1140 3140 

1149 3149 

1163 3163 

* * * * * 

■ 3. Effective January 21, 2006, the 

Fourth Federal Reserve District routing 

symbol list in Appendix A is amended 

by removing the listings for 0442 and 

2442 from the Columbus office and by 

revising the Cincinnati listings to read 

as follows: 

Appendix A To Part 229—Routing 

Number Guide To Next-Day 

Availability Checks and Local Checks 

* * * * * 

Fourth Federal Reserve District 

* * * * * 

Cincinnati Branch 

0420 2420 

0421 2421 

0422 2422 

0423 2423 

0442 2442 

0515 2515 

0519 2519 

0740 2740 

0749 2749 

0813 2813 

0830 2830 

0839 2839 

0863 2863 

* * * * * 

■ 4. Effective February 11, 2006, the 

Fourth Federal Reserve District routing 

symbol list in Appendix A is amended 

by deleting the remaining listings and 

heading for the Columbus office, and 

revising the listings for the Cleveland 

head office to read as follows: 

Appendix A To Part 229—Routing 

Number Guide To Next-Day 

Availability Checks and Local Checks 

* * * * * 

Fourth Federal Reserve District 

[Federal Reserve Bank of Cleveland] 

Head Office 

0410 2410 

0412 2412 

0430 2430 

0432 2432 

0433 2433 

0434 2434 

0440 2440 

0441 2441 

0720 2720 

0724 2724 

* * * * * 

By order of the Board of Governors of the 

Federal Reserve System, acting through the 

Secretary of the Board under delegated 

authority, October 11, 2005. 

Jennifer J. Johnson, 

Secretary of the Board. 

[FR Doc. 05–20661 Filed 10–17–05; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

12 CFR Part 333 

RIN 3064–AC94 

Extension of Corporate Powers 

AGENCY: Federal Deposit Insurance 

Corporation. 

ACTION: Interpretive rule; request for 

comments. 

SUMMARY: The Federal Deposit 

Insurance Corporation (FDIC) is 

amending an interpretative rule (12 CFR 

333.101(b)) which states that insured 

State nonmember banks not exercising 

trust powers may offer self-directed 

traditional Individual Retirement and 

Keogh Plan accounts without the prior 

written consent of the FDIC. As 

amended, the interpretive ruling is 

expanded to expressly cover Coverdell 

Education Savings Accounts, Roth 

Federal Register / Vol. 70, No. 200 / Tuesday, October 18, 2005 / Rules and Regulations 60421 

1See 26 U.S.C. 408. 

2See 26 U.S.C. 401. 

3See 26 U.S.C. 530. 

4See 26 U.S.C. 408A. 

5See 26 U.S.C. 223. 

6Currently, national banks without fiduciary 

powers may act as custodian, but not as trustee, of 

retirement accounts. See 12 CFR 9.3. Institutions 

regulated by the Office of Thrift Supervision (OTS) 

may act as trustee or custodian of traditional IRAs 

and Keogh Plan accounts without the prior 

approval of the OTS. 12 CFR 550.580. 

7These amendments to section 333.101(b) will 

not impact the FDIC’s supervision of the trust and 

custodial activities of insured nonmember banks, 

including the trust and fiduciary services such 

banks provide to accounts with tax-incentive 

features. The FDIC will continue to supervise the 

trust and fiduciary activities of insured nonmember 

banks through regular examinations to ensure that 

banks comply with their fiduciary obligations to 

customers in accordance with applicable State and 

Federal law. 

Individual Retirement Accounts, Health 

Savings Accounts, and other similar 

accounts. 

DATES: These amendments are effective 

October 18, 2005. Submit comments on 

or before January 17, 2006. 

ADDRESSES: Interested parties are 

invited to submit written comments to 

the FDIC by any of the following 

methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Agency Web Site: http:// 

www.fdic.gov/regulations/laws/federal/ 

propose.html. Follow the instructions 

for submitting comments on the FDIC 

Web site. 

• E-mail: comments@fdic.gov. 

Include ‘‘Part 333—Extension of 

Corporate Powers’’ in the subject line of 

the message. 

• Mail: Robert E. Feldman, Executive 

Secretary, Attention: Comments/Legal 

ESS, Federal Deposit Insurance 

Corporation, 550 17th Street, NW., 

Washington, DC 20429. 

• Hand Delivery/Courier: Comments 

may be hand-delivered to the guard 

station located at the rear of the FDIC’s 

550 17th Street building (accessible 

from F Street) on business days between 

7 a.m. and 5 p.m. 

Instructions: All submissions received 

must include the agency name and use 

the title ‘‘Part 333—Extension of 

Corporate Powers.’’ All comments will 

be posted without change to http:// 

www.fdic.gov/regulations/laws/federal/ 

propose.html, including any personal 

information provided. Comments may 

be inspected and photocopied in the 

FDIC Public Information Center, Room 

100, 801 17th Street, NW., Washington, 

DC, between 9 a.m. and 4:30 p.m. on 

business days. 

FOR FURTHER INFORMATION CONTACT: 

Anthony J. DiMilo, Examination 

Specialist, Division of Supervision and 

Consumer Protection, (202) 898–7496, 

or Benjamin W. McDonough, Attorney, 

Legal Division, (202) 898–7411, Federal 

Deposit Insurance Corporation, 550 17th 

St., NW., Washington, DC 20429. 

SUPPLEMENTARY INFORMATION: 

I. Background 

Section 333.2 of the FDIC’s 

regulations (12 CFR 333.2) prohibits an 

insured nonmember bank from changing 

the general character of its business 

without the prior written consent of the 

FDIC. In general, exercising trust powers 

constitutes a change in the general 

character of the business of an insured 

nonmember bank that requires the prior 

written consent of the FDIC. FDIC 

interpretive rule at 12 CFR 333.101(b) 

(section 333.101(b)) makes clear, 

however, that an insured nonmember 

bank that does not have authority to 

exercise trust powers may act as trustee 

or custodian of specific retirement 

accounts so long as the bank does not 

exercise investment discretion or 

provide any investment advice with 

respect to the accounts. (50 FR 10754). 

Prior to the issuance of amendments 

to section 333.101(b) in 1985, this 

interpretive rule stated that insured 

nonmember banks could act as trustee 

or custodian of Individual Retirement 

Accounts established pursuant to the 

Employee Retirement Income Security 

Act of 1974 (ERISA) 1 and SelfEmployed Retirement Plans established 

pursuant to the Self-Employed 

Individuals Retirement Act of 1962 2

(traditional IRAs and Keogh Plan 

accounts). However, a bank taking 

advantage of section 333.101(b) was 

permitted to invest the funds held in 

these accounts only in its own time or 

savings deposits. (41 FR 2375). The 

1985 amendments revised section 

333.101(b) to state that FDIC-regulated 

banks not exercising trust powers could 

offer self-directed traditional IRAs and 

Keogh Plan accounts where the 

customer could direct the bank to invest 

the funds from such plans in assets 

other than the bank’s own deposits ‘‘at 

the direction of the customer provided 

the bank does not exercise any 

investment discretion or provided [sic] 

any investment advice with respect to 

such account assets.’’ (50 FR 10754). 

Since 1985, Congress has introduced 

new accounts with tax-incentive 

features analogous to traditional IRAs 

and Keogh Plan accounts. These other 

accounts include: Coverdell Education 

Savings Accounts 3 and Roth Individual 

Retirement Accounts,4 both established 

pursuant to the Taxpayer Relief Act of 

1997, and Health Savings Accounts,5

established pursuant to the Medicare 

Prescription Drug Improvement, and 

Modernization Act of 2003. 

Accordingly, the FDIC is amending 

section 333.101(b) to reflect the creation 

of these new accounts and to make clear 

in the text of section 333.101(b) that 

‘‘other similar accounts’’ with taxincentive features may be offered by 

banks that lack authority to exercise 

trust powers.6 The primary purpose of 

these amendments is to formally 

recognize the existence of these new 

accounts, which did not exist when the 

FDIC last amended section 333.101(b) in 

1985. 

The revision to section 333.101(b) 

retains the requirements that the bank’s 

duties be custodial or ministerial, and 

that the acceptance of such accounts 

without trust powers be consistent with 

the applicable state law.7

The revision also makes some minor 

technical amendments to the regulatory 

text to correct typographical errors in 

section 333.101(b). 

II. Request for Comments 

These amendments to part 333 will be 

effective upon publication. However, 

the FDIC is interested in receiving any 

comments that may improve the 

implementation of the rule. The FDIC 

therefore requests comments on all 

aspects of this interpretive rule. The 

FDIC is especially interested in learning 

whether there are other accounts that it 

would be appropriate to include 

expressly within the scope of the rule, 

and conversely, whether it would be 

appropriate to exclude any facially 

similar accounts from the scope of the 

rule. The FDIC will accept comments for 

90 days from the date of publication. 

III. Regulatory Analysis 

a. Administrative Procedure Act 

Public Comment Waiver and Effective 

Date. Pursuant to the Administrative 

Procedure Act, 5 U.S.C. 553(b) (‘‘APA’’), 

the FDIC is issuing this interpretation 

without prior notice and comment. 

Section 553(b) of Title 5, U.S. Code, 

does not apply to interpretive rules. The 

amendments to section 333.101(b) of the 

FDIC’s regulations relate solely to an 

interpretive rule, and the Board of 

Directors of the FDIC has found that, 

because the primary purpose of the 

amendments is to formally recognize the 

creation of new accounts, notice and 

comment would be unnecessary. 

Moreover, pursuant to the APA, 5 U.S.C. 

553(d), interpretive rules do not require 

thirty days prior notice before they may 

become effective; therefore, because 

section 333.101(b) is an interpretive 

60422 Federal Register / Vol. 70, No. 200 / Tuesday, October 18, 2005 / Rules and Regulations 

rule, the amendments to it may have 

immediate effect. 

b. Paperwork Reduction Act 

The amendment to section 333.101(b) 

will not entail any new collections of 

information. Therefore, the Paperwork 

Reduction Act is not applicable. 

c. Regulatory Flexibility Act 

A regulatory flexibility analysis is 

required only when an agency must 

publish a notice of proposed rulemaking 

(5 U.S.C. 603, 604). Because the FDIC is 

revising an interpretive rule without 

notice and comment, no regulatory 

flexibility analysis is required. 

d. Small Business Regulatory 

Enforcement Fairness Act 

The Small Business Regulatory 

Enforcement Fairness Act (5 U.S.C. 801 

et seq.) (SBREFA) provides generally for 

agencies to report rules to Congress and 

for Congress to review these rules. 

Unless covered by an exception in 

SBREFA (5 U.S.C. 804(3)), the reporting 

requirement is triggered in instances 

where the FDIC issues a rule as defined 

by the APA. Because the FDIC is issuing 

an interpretive rule, which is not 

covered by one of the exceptions in 

SBREFA, the FDIC will file the reports 

required by SBREFA. 

List of Subjects in 12 CFR Part 333 

Bank, Banking, State nonmember 

banks, Trusts and trustees. 

■ For the reasons set forth in this 

preamble, the Board of Directors of the 

Federal Deposit Insurance Corporation 

hereby amends part 333 to Title 12 of 

the Code of Federal Regulations as 

follows: 

PART 333—EXTENSION OF 

CORPORATE POWERS 

■ 1. The authority citation for part 333 

continues to read as follows: 

Authority: 12 U.S.C. 1816, 1818, 1819 

(‘‘Seventh’’, ‘‘Eighth’’ and ‘‘Tenth’’), 1828, 

1828(m), 1831p–1(c). 

■ 2. Section 333.101 is amended by 

revising paragraph (b) to read as follows: 

§ 333.101 Prior consent not required. 

* * * * * 

(b) An insured State nonmember 

bank, not exercising trust powers, may 

act as trustee or custodian of Individual 

Retirement Accounts established 

pursuant to the Employee Retirement 

Income Security Act of 1974 (26 U.S.C. 

408), Self-Employed Retirement Plans 

established pursuant to the SelfEmployed Individuals Retirement Act of 

1962 (26 U.S.C. 401), Roth Individual 

Retirement Accounts and Coverdell 

Education Savings Accounts established 

pursuant to the Taxpayer Relief Act of 

1997 (26 U.S.C. 408A and 530 

respectively), Health Savings Accounts 

established pursuant to the Medicare 

Prescription Drug Improvement, and 

Modernization Act of 2003 (26 U.S.C. 

223), and other similar accounts without 

the prior written consent of the 

Corporation provided: 

(1) The bank’s duties as trustee or 

custodian are essentially custodial or 

ministerial in nature, 

(2) The bank is required to invest the 

funds from such plans only 

(i) In its own time or savings deposits, 

or 

(ii) In any other assets at the direction 

of the customer, provided the bank does 

not exercise any investment discretion 

or provide any investment advice with 

respect to such account assets, and 

(3) The bank’s acceptance of such 

accounts without trust powers is not 

contrary to applicable State law. 

Dated at Washington, DC, this 6th day of 

October, 2005. 

By order of the Board of Directors. 

Robert E. Feldman, 

Executive Secretary, Federal Deposit 

Insurance Corporation. 

[FR Doc. 05–20768 Filed 10–17–05; 8:45 am] 

BILLING CODE 6714–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 25 

[Docket No. NM310; Special Conditions No. 

25–306–SC] 

Special Conditions: Gulfstream 

Aerospace Limited Partnership (GALP) 

Model G150 Airplane; Windshield 

Coating in Lieu of Wipers 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final special conditions. 

SUMMARY: These special conditions are 

issued for the Gulfstream Aerospace 

Limited Partnership (GALP) Model 

G150 airplane. This airplane will have 

a novel or unusual design feature 

associated with use of a hydrophobic 

coating, rather than windshield wipers, 

as the means to maintain a clear portion 

of the windshield during precipitation 

conditions, as required by the 

airworthiness standards for transport 

category airplanes. The applicable 

airworthiness regulations do not contain 

adequate or appropriate safety standards 

for this design feature. These special 

conditions contain the additional safety 

standards that the Administrator 

considers necessary to establish a level 

of safety equivalent to that established 

by the existing airworthiness standards. 

EFFECTIVE DATE: November 17, 2005. 

FOR FURTHER INFORMATION CONTACT: John 

McConnell, Airplane and Flight Crew 

Interface Branch, ANM–111, Transport 

Airplane Directorate, Aircraft 

Certification Service, 1601 Lind Avenue 

SW., Renton, Washington, 98055–4056; 

telephone (425) 227–1365; facsimile 

(425) 227–1320, e-mail 

john.mcconnell@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Background 

On September 22, 2002, GALP 

applied for an amendment to Type 

Certificate Number A16NM to include 

the new GALP Model G150 airplane. 

The GALP Model G150, which is a 

derivative of the GALP Model G100 

currently approved under Type 

Certificate Number A16NM, is intended 

to be a nine passenger executive 

airplane with a maximum takeoff weight 

of 26,000 pounds and a maximum 

operating altitude of 45,000 feet. 

The GALP Model G150 flightdeck 

design incorporates a hydrophobic 

coating to provide adequate pilot 

compartment view in the presence of 

precipitation. Sole reliance on such a 

coating, without windshield wipers, 

constitutes a novel or unusual design 

feature for which the applicable 

airworthiness regulations do not contain 

adequate or appropriate safety 

standards. Therefore, special conditions 

are required that provide the level of 

safety equivalent to that established by 

the regulations. 

Type Certification Basis 

Under the provisions of 14 CFR 

21.101, GALP must show that the Model 

G150 meets the applicable provisions of 

the regulations incorporated by 

reference in Type Certificate Number 

A16NM or the applicable regulations in 

effect on the date of application for the 

change to the type certificate. The 

regulations incorporated by reference in 

the type certificate are commonly 

referred to as the ‘‘original type 

certification basis.’’ The regulations 

incorporated by reference in Type 

Certificate Number A16NM are 14 CFR 

part 25, effective February 1, 1965, 

including Amendment 25–1 through 

Amendment 25–107. 

In addition, if the regulations 

incorporated by reference do not 

provide adequate standards with respect 

to the change, the applicant must 

comply with certain regulations in effect 

on the date of application for the