Federal Register / Vol. 60, No. 238 / Tuesday, December 12, 1995 / Proposed Rules 63663

Cash equivalent means negotiable

bank certificates of deposit, bankers

acceptances issued by banking

institutions in the United States and

payable in the United States, and any

security issued by an investment

company registered under section 8 of

the Investment Company Act of 1940

(15 U.S.C. 80a–8) that is a money market

fund in compliance with all applicable

requirements of SEC Rule 2a–7 (17 CFR

270.2a–7).

* * * * *

Examining authority means:

(1) The national securities exchange

or national securities association of

which a broker or dealer is a member;

or

(2) If a member of more than one selfregulatory organization, the organization

designated by the Securities and

Exchange Commission (SEC) as the

examining authority for the creditor.

* * * * *

Margin stock * * *

(6) * * *

(iv) A company which is a money

market fund in compliance with all

applicable requirements of SEC Rule

2a–7 (17 CFR 270.2a–7).

Maximum loan value * * * Puts,

calls and combinations thereof that do

not qualify as margin stock have no loan

value. * * *

* * * * *

4. Section 221.3 is amended as

follows:

a. By revising the last sentence of

paragraph (a)(1);

b. By revising paragraph (c);

c. By adding a sentence to the end of

paragraph (d)(1);

d. By revising paragraph (e). The

revisions and additions read as follows:

§ 221.3 General requirements.

(a) * * * (1) * * * All other

collateral, except for puts and calls, has

good faith loan value, as defined in

§ 221.2 of this part.

* * * * *

(c) Purpose statement for agreements

involving revolving or multiple-draw

credit or financing of securities

purchases on a payment-againstdelivery basis. (1) If a bank extends

credit, secured directly or indirectly by

any margin stock, in an amount

exceeding $100,000, under an

agreement involving revolving or other

multiple-draw credit or financing of

securities purchases on a paymentagainst-delivery basis, Form FR U–1

must be executed at the time the credit

arrangement is originally established

and must be amended as described in

paragraph (c)(2) of this section for each

disbursement if all of the collateral for

the agreement is not pledged at the time

the agreement is originally established.

(2) If a purpose statement executed at

the time the credit arrangement is

initially made indicates that the purpose

is to purchase or carry margin stock, the

credit will be deemed in compliance

with this part if the maximum loan

value of the collateral at least equals the

aggregate amount of funds actually

disbursed or at the end of any day on

which credit is extended under the

agreement, the bank calls for additional

collateral sufficient bring the credit into

compliance with § 221.8 (the

Supplement). For any purpose credit

disbursed under the agreement, the

bank shall obtain and attach to the

executed Form FR U–1 a current list of

collateral which adequately supports all

credit extended under the agreement.

(d) * * * (1) * * * Syndicated loans

need not be aggregated with other

unrelated purpose credit extended by

the same bank.

* * * * *

(e) Mixed collateral loans. (1) A

purpose credit secured in part by

margin stock and in part by collateral

other than securities and cash

equivalents shall be treated as two

separate loans, one secured by margin

stock and any other securities and cash

equivalents and one by all other

collateral. A bank may use a single

credit agreement, if it maintains records

identifying each portion of the credit

and its collateral.

(2) A purpose credit secured entirely

by securities and cash equivalents may

be treated as a single loan.

* * * * *

5. Section 221.4 is amended by

revising the parenthetical phrase in the

middle of paragraph (a) to read as

follows:

§ 221.4 Agreements of nonmember banks.

(a) * * * (See Form FR T–1, T–2)

* * *

* * * * *

6. Section 221.6 is amended by

revising paragraph (f) to read as follows:

§ 221.6 Exempted transactions.

* * * * *

(f) To any customer, other than a

broker or dealer, to temporarily finance

the purchase or sale of securities for

prompt delivery, if the credit is to be

repaid in the ordinary course of

business upon completion of the

transaction and is not extended to

enable the customer to pay for securities

purchased in an account subject to part

220 of this chapter;

* * * * *

7. Section 221.7 is amended by

revising paragraph (c)(2) to read as

follows:

§ 221.7 Requirements for the list of OTC

margin stocks.

* * * * *

(c) * * *

(2) No longer substantially meets the

provisions of paragraph (b) of this

section or the definition of OTC margin

stock in § 221.2 of this part.

* * * * *

8. Section 221.8 is amended by

revising paragraphs (a) and (c) to read as

follows:

§ 221.8 Supplement, maximum loan value

of margin stock and other collateral.

(a) Maximum loan value of margin

stock. The maximum loan value of any

margin stock is fifty percent of its

current market value.

* * * * *

(c) Maximum loan value of options.

Except for options that qualify as margin

stock, puts, calls, and combinations

thereof have no loan value.

By order of the Board of Governors of the

Federal Reserve System, December 6, 1995.

William W. Wiles,

Secretary of the Board.

[FR Doc. 95–30131 Filed 12–11–95; 8:45 am]

BILLING CODE 6210–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 95–NM–98–AD]

Airworthiness Directives; Boeing

Model 747–400 Series Airplanes

Powered by General Electric CF6–80C2

or Pratt & Whitney PW4000 Series

Engines

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of proposed rulemaking

(NPRM).

SUMMARY: This document proposes the

adoption of a new airworthiness

directive (AD) that is applicable to

certain Boeing Model 747–400 series

airplanes. This proposal would require

modification of the engine fuel feed

system. This proposal is prompted by

reports indicating that the coupling nut

on the fuel tube on the outboard strut

(engine position 1) fractured. The

actions specified by the proposed AD

are intended to prevent such fracturing

of the coupling nut, which could result

in release of fuel onto the engine

cowling and a subsequent fire.
63664 Federal Register / Vol. 60, No. 238 / Tuesday, December 12, 1995 / Proposed Rules

DATES: Comments must be received by

February 6, 1996.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Transport

Airplane Directorate, ANM–103,

Attention: Rules Docket No. 95–NM–

98–AD, 1601 Lind Avenue, SW.,

Renton, Washington 98055–4056.

Comments may be inspected at this

location between 9:00 a.m. and 3:00

p.m., Monday through Friday, except

Federal holidays.

The service information referenced in

the proposed rule may be obtained from

Boeing Commercial Airplane Group,

P.O. Box 3707, Seattle, Washington

98124–2207. This information may be

examined at the FAA, Transport

Airplane Directorate, 1601 Lind

Avenue, SW., Renton, Washington.

FOR FURTHER INFORMATION CONTACT:

Tamra J. Elkins, Aerospace Engineer,

Propulsion Branch, ANM–140S, FAA,

Seattle Aircraft Certification Office,

1601 Lind Avenue, SW., Renton,

Washington; telephone (206) 227–2669;

fax (206) 227–1181.

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 shall

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, specified above, will be

considered before taking action on the

proposed rule. The proposals contained

in this notice 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, both before

and after the closing date for comments,

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 comments

submitted in response to this notice

must submit a self-addressed, stamped

postcard on which the following

statement is made: ‘‘Comments to

Docket Number 95–NM–98–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, Transport Airplane Directorate,

ANM–103, Attention: Rules Docket No.

95–NM–98–AD, 1601 Lind Avenue,

SW., Renton, Washington 98055–4056

Discussion

The FAA has received reports

indicating that the coupling nut on the

fuel tube on the outboard strut (engine

position 1) on several Boeing Model

747–400 series airplanes fractured.

Fracturing of the coupling nut caused

fuel to leak onto the engine cowling.

This fracturing has been attributed to

relative movement between the

outboard struts (engine positions 1 and

4) and the wing front spar. Fracturing of

the coupling nut on the fuel tube can

result in release of fuel onto the engine

cowling. This condition, if not

corrected, could result in a fire.

The FAA has reviewed and approved

two service bulletins that describe

procedures for modification of the

engine fuel feed system:

1. Boeing Alert Service Bulletin 747–

28A2185, Revision 1, dated September

21, 1995, which applies to certain

Model 747–400 series airplanes

powered by either General Electric CF6–

80C2 or Pratt & Whitney PW4000 series

engines. This service bulletin describes

procedures for replacement of the strut

fuel tubes and couplings at engine

positions 1 and 4. The replacement

involves installing new shrouded

couplings that have been redesigned to

be more flexible in response to the

relative movement between the

outboard struts and the wing front spar.

2. Boeing Service Bulletin 747–28–

2146, dated August 13, 1992, which

applies to certain Model 747–400 series

airplanes powered by General Electric

CF6–80C2 series engines. This service

bulletin describes procedures for

installation of new fuel lines, shrouded

fuel line couplings redesigned to be

more flexible (between the strut mid

bulkhead and the wing front spar), and

drain lines at each engine position to

provide a drain path from the new

couplings to the existing drain system.

Since an unsafe condition has been

identified that is likely to exist or

develop on other products of this same

type design, the proposed AD would

require modification of the engine fuel

feed system. The actions would be

required to be accomplished in

accordance with the service bulletins

described previously.

Operators should note that, although

Boeing Service Bulletin 747–28–2146

recommends installation of fuel lines,

couplings, and drain lines at each

engine position, this proposed AD

would require those installations only at

engine positions 1 and 4. The FAA finds

that the addressed unsafe condition

does not exist with regard to engine

positions 2 and 3, since relative

movement between those engine

positions and the wing front spar is

insufficient to cause fracturing of the

coupling nut. Further, the FAA has

received no reports of fracturing of the

coupling nut that have been attributed

to relative movement between engine

positions 2 and 3 and the wing front

spar.

There are approximately 226 Model

747–400 series airplanes of the affected

design in the worldwide fleet.

The FAA estimates that 34 airplanes

of U.S. registry would be required by

this proposed AD to replace the strut

fuel tubes and couplings at engine

positions 1 and 4 in accordance with

Boeing Alert Service Bulletin 747–

28A2185. That replacement would take

approximately 74 work hours per

airplane to accomplish, at an average

labor rate of $60 per work hour.

Required parts would cost

approximately $9,582 per airplane.

Based on these figures, the cost impact

of this proposed replacement on U.S.

operators is estimated to be $476,748, or

$14,022 per airplane.

Currently, there are no Model 747–

400 series airplanes on the U.S. Register

that would be required by this AD to

accomplish the installation specified in

Boeing Service Bulletin 747–28–2146.

However, should an affected airplane be

imported and placed on the U.S.

Register in the future, it would require

approximately 162 work hours per

airplane (81 work hours per engine; 2

engines per airplane) to accomplish the

proposed installation, at an average

labor rate of $60 per work hour.

Required parts would cost

approximately $9,582 per airplane.

Based on these figures, the cost impact

of this proposed installation would be

$19,302 per airplane.

The regulations proposed herein

would not have substantial direct effects

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,

in accordance with Executive Order

12612, it is determined that this

proposal would not have sufficient

federalism implications to warrant the

preparation of a Federalism Assessment.

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
Federal Register / Vol. 60, No. 238 / Tuesday, December 12, 1995 / Proposed Rules 63665

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 USC 106(g), 40101, 40113,

44701.

§ 39.13 [Amended]

2. Section 39.13 is amended by

adding the following new airworthiness

directive:

Boeing: Docket 95–NM–98–AD.

Applicability: Model 747–400 series

airplanes powered by General Electric CF6–

80C2 or Pratt & Whitney PW4000 series

engines; as identified in Boeing Alert Service

Bulletin 747–28A2185, Revision 1, dated

September 21, 1995, and Boeing Service

Bulletin 747–28–2146, dated August 13,

1992; certificated in any category.

Note 1: This AD applies to each airplane

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 airplanes that have been modified,

altered, or repaired so that the performance

of the requirements of this AD is affected, the

owner/operator must use the authority

provided in paragraph (b) of this AD to

request approval from the FAA. This

approval may address either no action, if the

current configuration eliminates the unsafe

condition; or different actions necessary to

address the unsafe condition described in

this AD. Such a request should include an

assessment of the effect of the changed

configuration on the unsafe condition

addressed by this AD. In no case does the

presence of any modification, alteration, or

repair remove any airplane from the

applicability of this AD.

Compliance: Required as indicated, unless

accomplished previously.

To prevent fracturing of the coupling nut,

which could result in release of fuel onto the

engine cowling and a subsequent fire,

accomplish the following:

(a) Within 18 months after the effective

date of this AD, accomplish the requirements

of paragraph (a)(1) or (a)(2), as applicable.

(1) For Model 747–400 series airplanes

identified in Boeing Alert Service Bulletin

747–28A2185, Revision 1, dated September

21, 1995: Replace the strut fuel tubes and

couplings at engine numbers 1 and 4 with

new redesigned (shrouded) couplings, in

accordance with that alert service bulletin.

(2) For Model 747–400 series airplanes

having variable numbers RT641 through

RT650 inclusive, identified in Boeing Service

Bulletin 747–28–2146, dated August 13,

1992: On engine positions 1 and 4 only,

install new fuel lines, shrouded fuel line

couplings (between the strut mid bulkhead

and the wing front spar), and drain lines in

accordance with that service bulletin.

(b) 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, Seattle

Aircraft Certification Office (ACO), FAA,

Transport Airplane Directorate. Operators

shall submit their requests through an

appropriate FAA Principal Maintenance

Inspector, who may add comments and then

send it to the Manager, Seattle ACO.

Note 2: Information concerning the

existence of approved alternative methods of

compliance with this AD, if any, may be

obtained from the Seattle ACO.

(c) Special flight permits may be issued in

accordance with sections 21.197 and 21.199

of the Federal Aviation Regulations (14 CFR

21.197 and 21.199) to operate the airplane to

a location where the requirements of this AD

can be accomplished.

Issued in Renton, Washington, on

December 6, 1995.

Darrell M. Pederson,

Acting Manager, Transport Airplane

Directorate, Aircraft Certification Service.

[FR Doc. 95–30213 Filed 12–11–95; 8:45 am]

BILLING CODE 4910–13–U

14 CFR Part 39

[Docket No. 95–NM–78–AD]

Airworthiness Directives; Airbus Model

A300–600 Series Airplanes

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Notice of proposed rulemaking

(NPRM).

SUMMARY: This document proposes the

adoption of a new airworthiness

directive (AD) that is applicable to

certain Airbus Model A300–600 series

airplanes. This proposal would require

inspections to detect corrosion and

cracking of the lower horizontalstabilizer cutout longeron, the corner

fitting, the skin strap, and the outer

skin; and repair, if necessary. This

proposal is prompted by cracking found

at the lower corner of the horizontalstabilizer cutout longeron during a full

scale fatigue test. The actions specified

by the proposed AD are intended to

prevent such cracking, which could

result in reduced structural integrity of

the horizontal stabilizer cutout

longeron.

DATES: Comments must be received by

January 23, 1996.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Transport

Airplane Directorate, ANM–103,

Attention: Rules Docket No. 95–NM–

78–AD, 1601 Lind Avenue, SW.,

Renton, Washington 98055–4056.

Comments may be inspected at this

location between 9:00 a.m. and 3:00

p.m., Monday through Friday, except

Federal holidays.

The service information referenced in

the proposed rule may be obtained from

Airbus Industrie, 1 Rond Point Maurice

Bellonte, 31707 Blagnac Cedex, France.

This information may be examined at

the FAA, Transport Airplane

Directorate, 1601 Lind Avenue, SW.,

Renton, Washington.

FOR FURTHER INFORMATION CONTACT:

Charles Huber, Aerospace Engineer,

Standardization Branch, ANM–113,

FAA, Transport Airplane Directorate,

1601 Lind Avenue, SW., Renton,

Washington 98055–4056; telephone

(206) 277–2589; fax (206) 227–1149.

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 shall

identify the Rules Docket number and

be submitted in triplicate to the address

specified. All communications received

on or before the closing date for

comments, specified above, will be

considered before taking action on the

proposed rule. The proposals contained

in this notice 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, both before

and after the closing date for comments,

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 comments