9414 Federal Register / Vol. 60, No. 33 / Friday, February 17, 1995 / Notices

significant hazards consideration. The

final determination will serve to decide

when the hearing is held.

If the final determination is that the

amendment request involves no

significant hazards consideration, the

Commission may issue the amendment

and make it immediately effective,

notwithstanding the request for a

hearing. Any hearing held would take

place after issuance of the amendment.

If the final determination is that the

amendment request involves a

significant hazards consideration, any

hearing held would take place before

the issuance of any amendment.

A request for a hearing or a petition

for leave to intervene must be filed with

the Secretary of the Commission, U.S.

Nuclear Regulatory Commission,

Washington, DC 20555, Attention:

Docketing and Services Branch, or may

be delivered to the Commission’s Public

Document Room, the Gelman Building,

2120 L Street, NW., Washington, DC, by

the above date. Where petitions are filed

during the last 10 days of the notice

period, it is requested that the petitioner

promptly so inform the Commission by

a toll-free telephone call to Western

Union at 1–(800) 248–5100 (in Missouri

1–(800) 342–6700). The Western Union

operator should be given Datagram

Identification Number N1023 and the

following message addressed to Leif

Norrholm, Director, Project Directorate

III–3: petitioner’s name and telephone

number, date petition was mailed, plant

name, and publication date and page

number of this Federal Register notice.

A copy of the petition should also be

sent to the Office of the General

Counsel, U.S. Nuclear Regulatory

Commission, Washington, DC 20555,

and to Leah Manning Stetzner, Vice

President, General Counsel, and

Corporate Secretary, 500 South 27th

Street, Decatur, Illinois 62525, attorney

for the licensee.

Nontimely filings of petitions for

leave to intervene, amended petitions,

supplemental petitions and/or requests

for hearing will not be entertained

absent a determination by the

Commission, the presiding officer or the

presiding Atomic Safety and Licensing

Board that the petition and/or request

should be granted based upon a

balancing of the factors specified in 10

CFR 2.714(a)(1)(i)–(v) and 2.714(d).

For further details with respect to this

action, see the application for

amendment dated February 14, 1995,

which is available for public inspection

at the Commission’s Public Document

Room, the Gelman Building, 2120 L

Street, NW., Washington, DC, and at the

local public document room located at

the Vespasian Warner Public Library,

120 West Johnson Street, Clinton,

Illinois 61727.

Dated at Rockville, Maryland, this 15th day

of February 1995.

For the Nuclear Regulatory Commission.

Douglas V. Pickett,

Project Manager, Project Directorate III–3,

Division of Reactor Projects—III/IV, Office of

Nuclear Reactor Regulation.

[FR Doc. 95–4169 Filed 2–16–95; 8:45 am]

BILLING CODE 7590–01–M

OFFICE OF MANAGEMENT AND

BUDGET

Discount Rates for Cost-Effectiveness

Analysis of Federal Programs

AGENCY: Office of Management and

Budget.

ACTION: Revisions to Appendix C of

OMB Circular A–94.

SUMMARY: The Office of Management

and Budget revised Circular A–94 in

1992. The revised Circular specified

certain discount rates to be updated

annually when the interest rate and

inflation assumptions used to prepare

the budget of the United States

Government are changed. These

discount rates are found in Appendix C

of the revised Circular. The updated

discount rates are shown below. The

discount rates in Appendix C are to be

used for cost-effectiveness analysis,

including lease-purchase analysis, as

specified in the revised Circular. They

do not apply to regulatory analysis.

DATES: The revised discount rates are

effective immediately and will be in

effect through February 1996.

FOR FURTHER INFORMATION CONTACT:

Robert B. Anderson, Office of Economic

Policy, Office of Management and

Budget, (202) 395–3381.

Joun B. Arthur,

Associate Director for Administration.

Memorandum for the Heads of Departments

and Agencies

From: Alice M. Rivlin

Subject: 1995 Discount Rates for OMB

Circular No. A–94

On October 29, 1992, OMB issued a

revision to OMB Circular No. A–94,

‘‘Guidelines and Discount Rates for BenefitCost Analysis of Federal Programs.’’ The

revision established new discount rate

guidelines for use in benefit-cost and other

types of economic analysis.

The revised Circular specifies certain

discount rates that will be updated annually

when the interest rate and inflation

assumptions in the budget are changed.

These discount rates are found in Appendix

C of the revised Circular. The attachment to

this memorandum is an update of Appendix

C. It provides discount rates that will be in

effect for the period March 1995 through

February 1996.

The rates presented in Appendix C do not

apply to regulatory analysis. They are to be

used for lease-purchase and costeffectiveness analysis, as specified in the

Circular.

Attachement

Appendix C

(Revised January 1995)

Discount Rates for Cost-Effectiveness, Lease

Purchase, and Related Analyses

Effective Dates. This appendix is updated

annually around the time of the President’s

budget submission to Congress. This version

of the appendix is valid through the end of

February, 1996. Copies of the updated

appendix and the Circular can be obtained

from the OMB Publications Office (202–395–

7332). Updates of this appendix are also

available upon request from the Office of

Economic Policy (202–395–3381), as is a

table of past years’ rates.

Nominal Discount Rates. Nominal interest

rates based on the economic assumptions

from the budget are presented in the table

below. These nominal rates are to be used for

discounting nominal flows, as in leasepurchase analysis.

NOMINAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES (IN PERCENT)

3-year 5-year 7-year 10-

year

30-

year

7.3 ..... 7.6 7.7 7.9 8.1

Analyses of programs with terms different

from those presented above may use a linear

interpolation. For example, a four-year

project can be evaluated with a rate equal to

the average of the three-year and five-year

rates. Programs with durations longer than 30

years may use the 30-year interest rate.

Real Discount Rates. Real interest rates

based on the economic assumptions from the

budget are presented below. These real rates

are to be used for discounting real (constantdollar) flows, as in cost-effectiveness

analysis.

REAL INTEREST RATES ON TREASURY

NOTES AND BONDS OF SPECIFIED

MATURITIES (IN PERCENT)

3-year 5-year 7-year 10-

year

30-

year

4.2 ..... 4.5 4.6 4.8 4.9

Analyses of programs with terms different

from those presented above may use a linear

interpolation. For example, a four-year

project can be evaluated with a rate equal to

the average of the three-year and five-year

rates. Programs with durations longer than 30

years may use the 30-year interest rate.

[FR Doc. 95–4078 Filed 2–16–95; 8:45 am]

BILLING CODE 3110–01–M
Federal Register / Vol. 60, No. 33 / Friday, February 17, 1995 / Notices 9415

1 15 U.S.C. § 78s(b)(1) (1988).

2 17 CFR 240.19b–4 (1994).

SECURITIES AND EXCHANGE

COMMISSION

[Release Nos. 33–7135; 34–35368 File No.

265–20]

Advisory Committee on the Capital

Formation and Regulatory Processes

AGENCY: Securities and Exchange

Commission.

ACTION: Notice.

SUMMARY: The Chairman of the

Commission, with the concurrence of

the other members of the Commission

intends to establish the Securities and

Exchange Commission Advisory

Committee on the Capital Formation

and Regulatory Processes

(‘‘Committee’’), which will advise the

Commission regarding the informational

needs of investors and the regulatory

costs imposed on the U.S. securities

markets.

The first meeting of the Committee

will be held on March 6, 1995 in room

1C30 at the Commission’s main offices,

450 Fifth Street, N.W., Washington, D.C.

beginning at 10:00 a.m. The meeting

will be open to the public, and the

public is invited to submit written

comments to the Committee.

ADDRESSES: Written comments should

be submitted in triplicate and should

refer to File No. 265–20. Comments

should be submitted to Jonathan G.

Katz, Secretary, Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549.

FOR FURTHER INFORMATION CONTACT:

Meridith Mitchell, Special Counsel,

Office of the General Counsel, at 202–

942–0890; Securities and Exchange

Commission, 450 Fifth Street, N.W.,

Washington, D.C. 20549.

SUPPLEMENTARY INFORMATION: In

accordance with the requirements of the

Federal Advisory Committee Act, 5

U.S.C. App., the Securities and

Exchange Commission has directed

publication of this notice that Chairman

Arthur Levitt, with the concurrence of

the other members of the Commission,

intends to establish the ‘‘Securities and

Exchange Commission Advisory

Committee on the Capital Formation

and Regulatory Processes.’’ Chairman

Levitt certifies that he has determined

that the creation of the Committee is

necessary and in the public interest.

The Committee’s charter directs the

Committee to assist the Commission in

evaluating the efficiency and

effectiveness of the regulatory process

and the disclosure requirements relating

to public offerings of securities,

secondary market trading and corporate

reporting, and in identifying and

developing means to minimize costs

imposed by current regulatory

programs, from the perspective of

investors, issuers, the various market

participants, and other interested

persons and regulatory authorities.

To achieve the Committee’s goals,

members will be appointed that can

represent effectively the varied interests

affected by the range of issues to be

considered. The Committee’s

membership may include, among

others, persons who can represent

investors, issuers, market participants,

independent public accountants,

regulators and the public at large. The

Commission expects that the

Committee’s members will represent a

variety of viewpoints and have varying

experience, and that the Committee will

be fairly balanced in terms of points of

view, backgrounds and tasks. The

Chairman of the Committee will be

Commissioner Steven M.H. Wallman.

The Committee will conduct its

operations in accordance with the

provisions of the Federal Advisory

Committee Act. The duties of the

Committee will be solely advisory.

Determinations of action to be taken and

policy to be expressed with respect to

matters upon which the Advisory

Committee provides advice or

recommendations shall be made solely

by the Commission.

The Committee will meet at such

intervals as are necessary to carry out its

functions. It is expected that meetings of

the full Committee generally will occur

no more frequently than nine times;

meetings of subgroups of the full

Advisory Committee will likely occur

more frequently. The Securities and

Exchange Commission will provide

necessary support services to the

Committee.

The Committee will terminate at the

end of one year from the date of its

establishment unless, prior to such time,

its charter is renewed in accordance

with the Federal Advisory Committee

Act, or unless the Chairman, with the

concurrence of the other members of the

Commission, determines that

continuance of the Committee is no

longer in the public interest.

Fifteen days after publication of this

notice in the Federal Register, a copy of

the charter of the Committee will be

filed with the Chairman of the

Commission, the Senate Committee on

Banking, Housing, and Urban Affairs

and the House Committee on

Commerce. A copy of the charter will

also be furnished to the Library of

Congress and placed in the

Commisssion’s Public Reference Room

for public inspection.

Furthermore, upon establishment of

the Committee, and in accordance with

section 10(a) of the Federal Advisory

Committee Act, 5 U.S.C. App. 10a,

notice is hereby given that the first

meeting of the Committee will be held

on March 6, 1995 in room 1C30 at the

Commission’s main offices, 450 Fifth

Street, N.W., Washington, D.C.,

beginning at 10:00 a.m. The meeting

will be open to the public. The purpose

of this meeting will be to discuss

general organizational matters, to plan

the progression of the Committee’s

work, and to begin discussion of the

effects of the current regulatory scheme

on capital formation in the United

States.

Dated: February 13, 1995.

By the Commission.

Jonathan G. Katz,

Secretary.

[FR Doc. 95–4058 Filed 2–16–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35360; File No. SR–Amex–

94–50]

Self-Regulatory Organizations;

American Stock Exchange, Inc.; Order

Granting Approval to Proposed Rule

Change Relating to Proposed

Commentary .02 to Rule 60

February 13, 1995.

Introduction

On November 14, 1994, the American

Stock Exchange, Inc. (‘‘Amex’’ or

‘‘Exchange’’) submitted to the Securities

and Exchange Commission (‘‘SEC’’ or

‘‘Commission’’), pursuant to Section

19(b)(1) of the Securities Exchange Act

of 1934 (‘‘Act’’) 1 and Rule 19b–4

thereunder,2 a proposed rule change to

codify the Amex’s agreement with the

New York Stock Exchange (‘‘NYSE’’)

whereby the NYSE will not be held

liable for damages sustained by an

Amex member’s or member

organization’s use of any NYSE system,

service, or facility.

The proposed rule change was

published for comment in Securities

Exchange Act Release No. 35146

(December 23, 1994), 60 FR 516 (January

4, 1995). No comments were received on

the proposal.

II. Background and Discussion

The proposed rule change emanates

from several licensing agreements

between the NYSE and Amex. For

example, in 1993 the Amex licensed the

NYSE electronic display book for