66866 Federal Register / Vol. 60, No. 248 / Wednesday, December 27, 1995 / Rules and Regulations

1Section 303 of CDRIA, 12 U.S.C. 4803(a)(1)(A),

(B).

2See 60 FR 44442 (August 28, 1995).

3The specific questions in the preamble were:

1. Should OTS consolidate common definitions

of general applicability now in parts 541, 561, 563,

and 583 in a new part 501?

2. Should OTS consolidate the remaining safety

and soundness regulations in part 545 into part

563?

3. Should OTS delete regulations that only repeat

statutory authority or list an implied power?

4. Should policy statements in parts 556 and 571

be deleted and either recast as regulations or placed

as guidance in the appropriate regulatory

handbook?

5. What is the best method of communicating

different types of information, guidance, policies,

restrictions, and requirements?

4ACB is a trade association representing 2,000

savings associations and community financial

institutions and related business firms. ACB’s

survey was sent to 94 OTS-supervised institutions;

43 institutions completed the survey. As reported

by ACB, 86 percent of the respondents deem

simplification of OTS rules to be worth the time

and attention of the OTS and the industry.

(c) Swap agreements. The following

agreements shall be deemed ‘‘swap

agreements’’ under section

11(e)(8)(D)(vi) of the Federal Deposit

Insurance Act, as amended (12 U.S.C.

1821(e)(8)(D)(vi)): A spot foreign

exchange agreement is any agreement

providing for or effecting the purchase

or sale of one currency in exchange for

another currency (or a unit of account

established by an intergovernmental

organization such as the European

Currency Unit) with a maturity date of

two days or less after the agreement has

been entered into, and includes shortdated transactions such as tomorrow/

next day and same day/tomorrow

transactions.

(d) Nothing in this section shall be

construed as limiting or changing a

party’s obligation to comply with all

reasonable trading practices and

requirements, non-insolvency law

requirements and any other

requirements imposed by other

provisions of the FDI Act. This section

in no way limits the authority of the

Corporation to take supervisory or

enforcement actions, or to otherwise

manage the affairs of a financial

institution for which the Corporation

has been appointed conservator or

receiver.

By Order of the Board of Directors.

Dated at Washington, DC, this 19th day of

December, 1995.

Federal Deposit Insurance Corporation

Robert E. Feldman,

Deputy Executive Secretary.

[FR Doc. 95–31247 Filed 12–26–95; 8:45 am]

BILLING CODE 6714–01–P

DEPARTMENT OF THE TREASURY

Office of Thrift Supervision

12 CFR Parts 500, 504, 510, 515, 529,

533, 543, 545, 552, 556, 562, 563, 563d,

563g, 571, 583, and 584

[No. 95–201]

RIN 1550–AA85

Regulatory Review

AGENCY: Office of Thrift Supervision,

Treasury.

ACTION: Final rule.

SUMMARY: The Office of Thrift

Supervision (OTS or Office) is today

issuing a final rule eliminating

duplicative, unduly burdensome, and

unnecessary regulations. These

amendments result from a review of

OTS regulations pursuant to section

303(a) of the Community Development

and Regulatory Improvement Act of

1994 (CDRIA) and the Regulatory

Reinvention Initiative of the Vice

President’s National Performance

Review.

EFFECTIVE DATE: December 27, 1995.

FOR FURTHER INFORMATION CONTACT:

Francis E. Raue, Policy Analyst,

Supervision Policy, (202) 906–5750; or

Valerie J. Lithotomos, Counsel (Banking

and Finance), Regulations and

Legislation Division, Chief Counsel’s

Office, (202) 906–6439, Office of Thrift

Supervision, 1700 G Street NW.,

Washington, D.C. 20552.

SUPPLEMENTARY INFORMATION:

I. Background

The OTS conducted a comprehensive

review of its regulations in the spring of

1995 pursuant to section 303 of CDRIA

and the Administration’s Reinvention

Initiative. Staff in both the Washington

and Regional Offices reviewed the

regulations and policy statements

contained in Chapter V of Title 12 of the

Code of Federal Regulations (CFR) to:

‘‘streamline and modify those

regulations and policies in order to

improve efficiency, reduce unnecessary

costs, * * * eliminate unwarranted

constraints on credit availability [and]

remove inconsistencies and outmoded

and duplicative requirements.’’ 1 The

OTS sought industry input through

town meetings and industry roundtable

meetings held by the Acting Director

and Regional Directors.

As a result of this effort, the OTS

identified a number of ways in which its

regulations could be improved and, on

August 28, 1995, issued a notice of

proposed rulemaking.2 The preamble to

the proposed rulemaking described a

multi-step process that the agency

intends to follow to implement the

results of its regulatory review.

The first step in that process is to

eliminate regulations that are clearly

outdated, duplicative, or otherwise

unnecessary. Today’s final rule draws

this first step to a close.

The second step is to conduct

focused, intensive reviews of key areas

of OTS’s regulations in an effort to find

additional ways to streamline and

reduce burden. This effort is already

underway. Over the next several

months, OTS expects to issue proposals

that will reduce the burden imposed by

its regulations governing lending,

subsidiaries, corporate governance, and

preemption.

A third step in the review process is

to determine whether the OTS’s

regulations should be reorganized to

make them more user-friendly. In the

August 28 preamble, the agency posed

five questions regarding the overall

structure and content of its regulations.3

The OTS appreciates the comments

received in response to these questions

and will take them into consideration in

future rulemakings that specifically

address the organizational issues raised

by the comments.

II. Summary of Comments

The August 28, 1995, notice of

proposed rulemaking targeted

approximately eight percent of OTS’s

regulations for immediate repeal. The

public comment period on the August

28 proposal closed on October 27, 1995.

Two federal savings banks, one savings

and loan holding company, and one

national trade association submitted

comments. In addition to its comment

letter, the national trade association,

America’s Community Bankers (ACB),

included the results of a survey which

ACB sent to a number of OTSsupervised institutions.4

Generally all of the commenters

supported the OTS initiative to

streamline and eliminate unnecessary

and burdensome rules in the proposal.

They indicated that the deletions and

modifications, with a few exceptions,

would be helpful.

However, one commenter

recommended that paragraphs (a) and

(c) of § 545.15 not be deleted. Paragraph

(a) provides generally that a Federal

savings association shall require at least

seven days advance notice of

withdrawals from savings accounts that

do not have fixed or minimum terms of

at least seven days. The commenter

asked that this paragraph be retained

because it believes that the elimination

of the seven-day withdrawal notice on

savings accounts may conflict with
Federal Register / Vol. 60, No. 248 / Wednesday, December 27, 1995 / Rules and Regulations 66867

5 12 U.S.C. 1464(b)(1)(C).

6See 12 CFR Part 204.

7 12 CFR 204.2(d)(1).

section 5(b)(1)(C) of the Home Owners’

Loan Act (HOLA).5 We disagree. Section

5(b)(1)(C) of the HOLA provides that a

‘‘Federal savings association may

require not less than 14 days notice

* * * if the charter of the savings

association or the regulations of the

Director so provide.’’ By its terms, this

statutory provision applies only to

withdrawal notice requirements that

equal or exceed 14 days. The provision

does not affect the ability of savings

associations to impose notice

requirements of shorter duration.

Moreover, the seven-day notice

requirement that currently appears in

OTS’s regulations is unrelated to, and

does not implement, section 5(b)(1)(C)

of the HOLA. Section 545.15(a) was

meant to mirror the requirements under

the Federal Reserve Board’s Regulation

D for savings accounts.6 Regulation D

defines a savings deposit for reserve

purposes as a deposit or account where

a depository institution may require at

least seven days advance notice of

withdrawal.7 The OTS is removing

section 545.15(a) because it is

duplicative of Regulation D. Savings

associations will, of course, still be

required to comply with Regulation D.

Because section 545.15(a) does not

implement HOLA section 5(b)(1)(C), its

removal will not adversely affect the

ability of savings associations to impose

notice requirements of 14 days or more.

Associations that wish to do so may

continue, as under current law, to

include an authorizing provision in

their charters and appropriate terms in

their savings account contracts.

The same commenter requested that

OTS retain paragraph (c) of section

545.15. That paragraph states that, when

computing earnings due on deposit

accounts at the end of a business period,

a Federal savings association may elect

to disregard amounts withdrawn from

accounts in the last three days of any

business period—thereby effectively

paying depositors slightly more interest

than they might be entitled to under the

terms of their deposit contracts. The

commenter stated that the three-day

grace period should be retained because

it may have operational significance for

small institutions without adequate

technology to make computations on all

of their accounts on one day at the end

of the period. Removal of paragraph (c)

will not adversely affect the flexibility

of savings associations in computing

interest on their deposit accounts.

Institutions that wish to compute

interest without reference to

withdrawals made during the last three

days of a business period may continue

to do so. A regulation is not needed to

authorize this practice.

The same commenter asked that

section 556.15 be retained because it

delineates the specific services that may

and may not be performed at drive-in

and pedestrian facilities. Under

§ 545.92(g), Federal savings associations

are authorized to establish such

facilities without prior OTS approval,

subject to certain restrictions. The

services provided at such facilities are

limited to those ‘‘ordinary functions’’

provided at teller windows at branch

offices. Section 556.15 defines what

constitutes services ‘‘ordinarily’’

provided at teller windows. This

definition is outdated and unduly

restrictive. Elimination of § 556.15 will

allow more flexibility in defining the

scope of services that can be offered

from drive-in and pedestrian facilities.

One commenter stated that it would

prefer that § 545.31(a) (Election

regarding classification of loans or

investments) not be removed unless it

would be included in its entirety in the

regulatory handbook. The OTS notes

that the proposal did not suggest the

deletion of that section and that it is not

anticipated that OTS’s regulatory review

of its lending regulations will propose

deleting that section.

One commenter requested that the

OTS review the documentation and

recordkeeping requirements in §§563.41

(Loans and other transactions with

affiliates and subsidiaries) and 563.42

(Additional standards applicable to

transactions with affiliates and

subsidiaries) because they are too

cumbersome. The commenter also

requested that certain clarifications be

made to these regulations. On the same

subject, another commenter requested

that the term ‘‘affiliated person’’ in the

OTS’s regulations be replaced by the

term ‘‘insider’’ as defined in the

regulations of the other Federal banking

agencies. The OTS will address these

comments in a subsequent notice of

proposed rulemaking, during the phase

of regulatory review dealing with OTS’s

regulations on subsidiaries and related

entities.

Finally, one commenter suggested

that the OTS consider reviewing its

manufactured home financing

regulation at section 545.45 so that

savings associations may more fairly

compete with other lenders in the

market. The OTS will address this

comment in the phase of regulatory

review addressing the OTS’s lending

regulations.

III. Description of Final Rule

The final rule issued today

implements all of the proposed

revisions and modifications contained

in the August 28, 1995 proposal, except

for the proposed revision to § 567.1’s

definition of an OECD-based country,

which will be addressed in a later final

rule.

The following parts and sections are

being removed:

Part or section

No. Title

Part 504 .......... National security information.

§ 510.1 ............ Ex parte communications.

§ 510.3 ............ Coordination of subchapters.

Part 515 .......... Use of penalty mail in the

location and recovery of

missing children.

Part 529 .......... Nondiscrimination in federally assisted programs.

Part 533 .......... Electronic funds transfers.

§ 543.12 .......... Bank Insurance Fund-insured Federal savings

banks.

§ 543.13 .......... Notice to FDIC.

§ 545.15 .......... Withdrawal requests.

§ 545.18 .......... Issuance of mutual capital

certificates.

§ 545.19 .......... Issuance of net worth certificates.

§ 545.20 .......... Borrowing, issuing obligations and giving security.

§ 545.44 .......... Mortgage transactions with

the Federal Home Loan

Mortgage Corporation.

§ 545.122 ........ Employment contracts.

§ 545.136 ........ Financial futures transactions.

§ 545.137 ........ Financial options transactions.

§ 552.2–4 ........ Limitation on transaction of

business.

§ 556.4 ............ Insurance.

§ 556.6 ............ Savings accounts.

§ 556.8 ............ Suretyship.

§ 556.9 ............ Imposition of late charges

and due on sale clauses.

§ 556.11 .......... Prepayment penalty on

mortgage loans.

§ 556.14 .......... Chief executive officer of a

branch office.

§ 556.15 .......... Drive-in and pedestrian facilities.

§ 562.3 ............ Statements of Condition.

§ 563.8 ............ Negotiable order of withdrawal accounts authorized.

§ 563.49 .......... Membership in a Federal

Home Loan Bank.

§ 563.72 .......... Form, return, and maturity

of securities.

§ 563d.200–30 Delegation of authority to

the Chief Counsel.

§ 563g.22 ........ Delegation of authority to

the Chief Counsel.

§ 584.3 ............ Transactions with affiliates.

§ 584.6 ............ Penalty for loss of QTL status.

§ 584.11 .......... Hearings.
66868 Federal Register / Vol. 60, No. 248 / Wednesday, December 27, 1995 / Rules and Regulations

8 5 U.S.C. 553(d).

9 12 U.S.C. 4802.

The OTS is also amending the

following parts or sections to remove

unnecessary burdens, as proposed.

Part or section

No. Description of amendment

Part 500 .......... Simplification of organizational structure.1

§ 563.41(b)(11) Addition of definition of

‘‘unimpaired capital and

unimpaired surplus’’ for

purposes of transactions

with affiliates limitations.

§ 563.41(d)(1) . Removal of expired limitation on sister bank provision for transactions with

affiliates.

§ 563.42(d)(1) . Removal of expired limitation on sister bank provision for transactions with

affiliates.

§ 563.43(f) ....... Addition of definition of

‘‘unimpaired capital and

unimpaired surplus’’ for

purposes of loans to insiders limitations.

§ 563g.5 .......... Reduction in the number of

copies required for securities filings.

1OTS’s current organizational structure will

be reflected in a notice to be published in the

FEDERAL REGISTER at a later date.

The preamble to the August 28

proposal contains a full section-bysection discussion of the reasons why

these sections are being amended or

removed. Today’s final rule also adopts

the proposed modifications to crossreferences in other OTS regulations to

conform to the changes being made

today.

IV. Administrative Procedure Act

Section 553(d)8 of the APA permits

the waiver of its 30-day delayed

effective date requirement for good

cause, or where a rule relieves a

restriction. Also, Section 302 of the

CDRIA9 requires that a federal banking

agency regulation that imposes new

requirements take effect on the first day

of the quarter following publication of

the final rule. That section provides,

however, that an agency may determine

that the rule should take effect earlier

upon a finding of good cause.

The OTS believes that the final rule

will relieve regulatory burden by

eliminating obsolete, redundant and

unnecessary requirements. The final

rule eliminates inefficient and unduly

costly regulatory requirements and

better focuses thrifts on the substantive

and relevant requirements. For these

reasons, the OTS believes there is good

cause pursuant to both the APA and

CDRIA section 302 provisions to make

the final rule effective immediately

upon publication in the Federal

Register.

V. Executive Order 12866

The Director of the OTS has

determined that this final rule does not

constitute a ‘‘significant regulatory

action’’ for the purposes of Executive

Order 12866.

VI. Regulatory Flexibility Act Analysis

Pursuant to section 605(b) of the

Regulatory Flexibility Act, the OTS

certifies that this final rule will not have

a significant economic impact on a

substantial number of small entities.

The final rule does not impose any

additional burdens or requirements

upon small entities and lowers several

paperwork and other burdens on all

savings associations.

VII. Unfunded Mandates Reform Act of

1995

The OTS has determined that the

requirements of this final rule will not

result in expenditures by State, local,

and tribal governments, or by the

private sector, of more than $100

million in any one year. Accordingly, a

budgetary impact statement is not

required under section 202 of the

Unfunded Mandates Reform Act of

1995.

List of Subjects

12 CFR Part 500

Organization and functions

(Government agencies).

12 CFR Part 504

Classified information.

12 CFR Part 510

Administrative practice and

procedure.

12 CFR Part 515

Infants and children, Postal service.

12 CFR Part 529

Administrative practice and

procedure, Civil rights.

12 CFR Part 533

Consumer protection, Electronic

funds transfers, Savings associations.

12 CFR Part 543

Reporting and recordkeeping

requirements, Savings associations.

12 CFR Part 545

Accounting, Consumer protection,

Credit, Electronic funds transfers,

Investments, Manufactured homes,

Mortgages, Reporting and recordkeeping

requirements, Savings associations.

12 CFR Part 552

Reporting and recordkeeping

requirements, Savings associations,

Securities.

12 CFR Part 556

Savings associations.

12 CFR Part 562

Accounting, Reporting and

recordkeeping requirements, Savings

associations.

12 CFR Part 563

Accounting, Advertising, Crime,

Currency, Flood insurance, Investments,

Mortgages, Reporting and recordkeeping

requirements, Savings associations,

Securities, Surety bonds.

12 CFR Part 563d

Authority delegations (Government

agencies), Reporting and recordkeeping

requirements, Savings associations,

Securities.

12 CFR Parts 563g

Reporting and recordkeeping

requirements, Savings associations,

Securities.

12 CFR Part 571

Accounting, Conflicts of interest,

Investments, Reporting and

recordkeeping requirements, Savings

associations.

12 CFR Part 583

Holding companies, Savings

associations.

12 CFR Part 584

Administrative practice and

procedure, Holding companies,

Reporting and recordkeeping

requirements, Savings associations,

Securities.

Accordingly, and under the authority

of 12 U.S.C. 1462a, the Office of Thrift

Supervision amends chapter V, title 12,

Code of Federal Regulations, as set forth

below.

PART 500—ORGANIZATION AND

CHANNELLING OF FUNCTIONS

1. The authority citation for part 500

continues to read as follows:

Authority: 12 U.S.C. 1462a, 1463, 1464.

§ 500.1 [Amended]

§§ 500.3—500.5 [Removed]

2. The existing text of § 500.1 is

designated as paragraph (a), the existing

texts of §§ 500.3, 500.4, and 500.5 are

redesignated as paragraphs (b), (c) and

(d), respectively, of § 500.1, and

§§ 500.3, 500.4, and 500.5 are removed.
Federal Register / Vol. 60, No. 248 / Wednesday, December 27, 1995 / Rules and Regulations 66869

3. Section 500.10 is amended by

adding two new sentences at the end of

the section to read as follows:

§ 500.10 The OTS or The Office.

* * * The Director directs and carries

out the mission of the OTS with the

assistance of offices reporting directly to

him. One of these offices oversees the

direct examination and supervision of

savings associations by regulatory staff

to ensure the safety and soundness of

the industry.

§§ 500.11–500.17 [Removed]

4. Sections 500.11 through 500.17 are

removed.

PART 504—[REMOVED]

5. Part 504 is removed.

PART 510—MISCELLANEOUS

ORGANIZATIONAL REGULATIONS

6. The authority citation for part 510

continues to read as follows:

Authority: 5 U.S.C. 301; 12 U.S.C. 1462a,

1463, 1464.

§ 510.1 [Removed]

7. Section 510.1 is removed.

§ 510.3 [Removed]

8. Section 510.3 is removed.

PART 515—[REMOVED]

9. Part 515 is removed.

PART 529—[REMOVED]

10. Part 529 is removed.

PART 533—[REMOVED]

11. Part 533 is removed.

PART 543—INCORPORATION,

ORGANIZATION, AND CONVERSION

OF FEDERAL MUTUAL

ASSOCIATIONS

12. The authority citation for part 543

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a, 2901 et seq.

§§ 543.12–543.13 [Removed]

13. Sections 543.12 and 543.13 are

removed.

PART 545—OPERATIONS

14. The authority citation for part 545

continues to read as follows:

Authority: 12 U.S.C. 1462a, 1463, 1464,

1828.

§§ 545.15, 545.18–545.20, 545.44, 545.122,

545.136–545.137 [Removed]

15. Sections 545.15, 545.18 through

545.20, 545.44, 545.122, 545.136 and

545.137 are removed.

PART 552—INCORPORATION,

ORGANIZATION, AND CONVERSION

OF FEDERAL STOCK ASSOCIATIONS

16. The authority citation for part 552

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a.

§ 552.2–4 [Removed]

17. Section 552.2–4 is removed.

§ 552.6–2 [Amended]

18. Section 552.6–2 is amended by

removing the phrase ‘‘§ 545.122 of this

chapter’’ in paragraph (b), and by

adding in lieu thereof the phrase

‘‘§ 563.39 of this chapter’’.

PART 556—STATEMENTS OF POLICY

19. The authority citation for part 556

continues to read as follows:

Authority: 5 U.S.C. 552, 559; 12 U.S.C.

1464, 1701j–3; 15 U.S.C. 1693–1693r.

§§ 556.4, 556.6, 556.8–556.9, 556.11, 556.14–

556.15 [Removed]

20. Sections 556.4, 556.6, 556.8

through 556.9, 556.11, and 556.14

through 556.15 are removed.

PART 562—REGULATORY

REPORTING STANDARDS

21. The authority citation for part 562

continues to read as follows:

Authority: 12 U.S.C. 1463.

§ 562.3 [Removed]

22. Section 562.3 is removed.

PART 563—OPERATIONS

23. The authority citation for part 563

continues to read as follows:

Authority: 12 U.S.C. 375b, 1462, 1462a,

1463, 1464, 1467a, 1468, 1817, 1828, 3806;

42 U.S.C. 4106.

§§ 563.8, 563.49, 563.72 [Removed]

24. Sections 563.8, 563.49 and 563.72

are removed.

25. Section 563.41 is amended by

removing the period at the end of

paragraph (b)(10)(iv) and adding a

semicolon in its place, by adding

paragraph (b)(11), by removing

paragraph (d)(1), by redesignating

paragraphs (d)(2) through (d)(7) as

paragraphs (d)(1) through (d)(6),

respectively, and by removing the

phrase ‘‘After January 1, 1995, any’’ in

the introductory text of newly

designated paragraph (d)(1) and adding

the word ‘‘Any’’ in its place, to read as

follows:

§ 563.41 Loans and other transactions

with affiliates and subsidiaries.

* * * * *

(b) * * *

(11) The term capital stock and

surplus of the savings association means

‘‘unimpaired capital and unimpaired

surplus’’ as defined at § 563.93(b)(11) of

this part.

* * * * *

§ 563.42 [Amended]

26. Section 563.42 is amended, in

paragraph (d)(1), by removing the

phrase ‘‘§ 563.41, any bank, any savings

association in a structure qualifying

under § 563.41(d)(1) of this part or, after

January 1, 1995,’’, and by adding in lieu

thereof the phrase ‘‘§ 563.41 of this part,

any bank, or’’.

§ 563.45 [Amended]

27. Section 563.43 is amended by

adding paragraph (f) to read as follows:

§ 563.43 Loans by savings associations to

their executive officers, directors and

principal shareholders.

* * * * *

(f) References to the term

‘‘unimpaired capital and unimpaired

surplus’’ shall be deemed to refer to

‘‘unimpaired capital and unimpaired

surplus’’ as defined at § 563.93(b)(11) of

this part.

§ 563.52 [Amended]

28. Section 563.52 is amended by

removing the phrase ‘‘§ 584.6 of this

chapter’’ in paragraph (b), and by

adding in lieu thereof the phrase ‘‘12

U.S.C. 1467a(m)’’.

PART 563d—SECURITIES OF

SAVINGS ASSOCIATIONS

29. The authority citation for part

563d continues to read as follows:

Authority: 12 U.S.C. 1462a, 1463, 1464; 15

U.S.C. 78c(b), 78l, 78m, 78n, 78w, 78d–1.

§ 563d.200–30 [Removed]

30. Section 563d.200–30 is removed.

PART 563g—SECURITIES OFFERINGS

31. The authority citation for part

563g continues to read as follows:

Authority: 12 U.S.C. 1462a, 1463, 1464; 15

U.S.C. 78c(b), 78l, 78m, 78n, 78p, 78w.

32. Section 563g.5 is amended by

revising paragraphs (b)(1) and (b)(2) to

read as follows:

§ 563g.5 Filing and signature

requirements.

* * * * *

(b) Number of copies. (1) Unless

otherwise required, any filing under this

part shall include nine copies of the

document to be filed with the OTS, as

follows:

(i) Seven copies, which shall include

one manually signed copy with exhibits,
66870 Federal Register / Vol. 60, No. 248 / Wednesday, December 27, 1995 / Rules and Regulations

three conformed copies with exhibits,

and three conformed copies without

exhibits, to the Dissemination Branch,

Records Management and Information

Policy; and

(ii) Two copies, which shall include

one manually signed copy with exhibits

and one conformed copy, without

exhibits, to the Regional Director.

(2) Within five days after the effective

date of an offering circular or the

commencement of a public offering after

the effective date, whichever occurs

later, nine copies of the offering circular

used shall be filed with the OTS, as

follows: seven copies to the

Dissemination Branch, Records

Management and Information Policy,

and two copies to the Regional Director.

* * * * *

§ 563g.22 [Removed]

33. Section 563g.22 is removed.

PART 571—STATEMENTS OF POLICY

34. The authority citation for part 571

continues to read as follows:

Authority: 5 U.S.C. 552, 559; 12 U.S.C.

1462a, 1463, 1464.

§ 571.24 [Amended]

35. Section 571.24 is amended by

removing the phrase ‘‘parts 528 and

529’’ in paragraph (a), and by adding in

lieu thereof the phrase ‘‘part 528’’.

PART 583—DEFINITIONS

36. The authority citation for part 583

is revised to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a, 1468.

§ 583.17 [Amended]

37. Section 583.17 is amended by

removing the phrase ‘‘§ 584.6 of this

chapter’’, and by adding in lieu thereof

the phrase ‘‘12 U.S.C. 1467a(m)’’.

PART 584—REGULATED ACTIVITIES

38. The authority citation for part 584

continues to read as follows:

Authority: 12 U.S.C. 1462, 1462a, 1463,

1464, 1467a, 1468.

§ 584.2a [Amended]

39. Section 584.2a is amended by

removing the phrase ‘‘§ 584.6 of this

chapter’’ in paragraph (a)(2), and by

adding in lieu thereof the phrase ‘‘12

U.S.C. 1467a(m)’’.

§ 584.2–1 [Amended]

40. Section 584.2–1 is amended by

removing the phrase ‘‘§ 584.3 of this

part’’ where it appears in paragraphs

(b)(2) and (b)(3) introductory text, and

by adding in lieu thereof the phrase ‘‘12

U.S.C. 1468’’.

§§ 584.3, 584.6, 584.11 [Removed]

41. Sections 584.3, 584.6 and 584.11

are removed.

Dated: December 8, 1995.

By the Office of Thrift Supervision.

Jonathan L. Fiechter,

Acting Director.

[FR Doc. 95–31121 Filed 12–26–95; 8:45 am]

BILLING CODE 6720–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 95–NM–246–AD; Amendment

39–9469; AD 95–26–11]

Airworthiness Directives; Lockheed

Model L–1011–385 Series Airplanes

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Final rule; request for

comments.

SUMMARY: This amendment supersedes

an existing airworthiness directive (AD),

applicable to all Lockheed Model L–

1011–385 series airplanes, that currently

requires visual inspections to detect

cracking of the fittings that attach the aft

pressure bulkhead to the fuselage

stringers. That AD also currently

requires replacement of cracked fittings,

and repair of adjacent structure if found

to be cracked. This amendment requires

new repetitive inspections to detect

cracking of the fittings and of the splice

tab of the aft pressure bulkhead, and

corrective actions, if necessary. This

amendment is prompted by the results

of the visual inspections performed in

accordance with the existing AD, which

indicate that the visual inspection is

inadequate to detect fatigue cracking.

The actions specified in this AD are

intended to prevent fatigue cracking of

the aft pressure bulkhead, which could

lead to failure of the end fittings and

splice tabs, and subsequent rapid

decompression of the airplane during

flight.

DATES: Effective January 11, 1996.

The incorporation by reference of

certain publications listed in the

regulations is approved by the Director

of the Federal Register as of January 11,

1996.

Comments for inclusion in the Rules

Docket must be received on or before

February 26, 1996.

ADDRESSES: Submit comments in

triplicate to the Federal Aviation

Administration (FAA), Transport

Airplane Directorate, ANM–103,

Attention: Rules Docket No. 95–NM–

246–AD, 1601 Lind Avenue, SW.,

Renton, Washington 98055–4056.

The service information referenced in

this AD may be obtained from Lockheed

Aeronautical Systems Support

Company, Field Support Department,

Dept. 693, Zone 0755, 2251 Lake Park

Drive, Smyrna, Georgia 30080. This

information may be examined at the

FAA, Transport Airplane Directorate,

1601 Lind Avenue, SW., Renton,

Washington; or at the FAA, Atlanta

Aircraft Certification Office, Small

Airplane Directorate, Campus Building,

1701 Columbia Avenue, Suite 2–160,

College Park, Georgia; or at the Office of

the Federal Register, 800 North Capitol

Street, NW., suite 700, Washington, DC.

FOR FURTHER INFORMATION CONTACT:

Thomas Peters, Aerospace Engineer,

Systems and Flight Test Branch, ACE–

116A, FAA, Atlanta Aircraft

Certification Office, Small Airplane

Directorate, Campus Building, 1701

Columbia Avenue, Suite 2–160, College

Park, Georgia; telephone (404) 305–

7367; fax (404) 305–7348.

SUPPLEMENTARY INFORMATION: On

September 6, 1995, the FAA issued AD

95–18–52, amendment 39–9366 (60 FR

47465, September 13, 1995), which is

applicable to all Lockheed Model L–

1011–385 series airplanes. That AD

requires repetitive detailed visual

inspections to detect cracking of the

fittings that attach the aft pressure

bulkhead to the fuselage stringers at

stringers 1 through 10 and at stringers

64 through 56, and various follow-on

actions. That action was prompted by

reports of cracks found in these fittings.

The actions required by that AD are

intended to prevent fatigue cracking that

can lead to failure of the fittings that

attach the aft pressure bulkhead to the

fuselage stringer, and subsequent rapid

decompression of the airplane during

flight.

The FAA has reviewed the findings

from the visual inspections performed

in accordance with AD 95–18–52, and

from eddy current inspections

performed voluntarily by an operator.

The eddy current inspections revealed

findings of cracks in the end fittings;

these same fittings had been inspected

previously using the visual inspection

technique required by the existing AD

and this cracking was identified. In light

of these findings, the FAA has

determined that the currently required

visual inspections are inadequate to

detect all fatigue cracking. Such fatigue

cracking, if not detected and corrected

in a timely manner, could lead to failure

of the fittings and splice tabs of the aft

pressure bulkhead, and subsequently