Federal Register / Vol. 74, No. 17 / Wednesday, January 28, 2009 / Notices 4983 

orders for the remaining types of 

reproduction services, to allow 

researchers to submit reproduction 

orders and remit payment 

electronically. 

The information that NARA collects 

for quoted reproduction orders includes 

the descriptive information (information 

necessary to search for the records), 

payment information (e.g., credit card 

type, credit card number, and expiration 

date), customer name, shipping and 

billing address, and phone number. 

NARA offers customers the option of 

submitting their e-mail address as a 

means of facilitating communication 

such as order confirmation, status 

updates, and issue handling. 

Dated: January 23, 2009. 

Martha Morphy, 

Assistant Archivist for Information Services. 

[FR Doc. E9–1818 Filed 1–27–09; 8:45 am] 

BILLING CODE 7515–01–P 

NATIONAL CREDIT UNION 

ADMINISTRATION 

Central Liquidity Facility 

AGENCY: National Credit Union 

Administration (NCUA). 

ACTION: Public notice. 

SUMMARY: The NCUA Board has 

determined to change the methodology 

by which NCUA’s Central Liquidity 

Facility (CLF) provides funding to credit 

unions needing loans. The CLF makes 

loans available to credit unions through 

the corporate credit union network, 

which is also involved in the servicing 

of the loans. The changes require 

modification to an existing agreement 

between the CLF and U.S. Central 

Federal Credit Union (USC) and a new 

assignment agreement between USC and 

the CLF. These changes will affect loans 

already funded and the way future 

advances by the CLF are administered. 

In accordance with the current NCUA 

rule pertaining to the CLF, NCUA is 

publishing notice of the changes in the 

Federal Register. 

DATES: Effective Date: This notice is 

effective immediately. 

FOR FURTHER INFORMATION CONTACT: 

Jeremy F. Taylor, Senior Capital Markets 

Specialist, at the above address or 

telephone (703) 518–6620 or Ross P. 

Kendall, Staff Attorney, Office of 

General Counsel, at the above address or 

telephone: (703) 518–6540. 

SUPPLEMENTARY INFORMATION: 

A. Background. The CLF is a mixedownership government corporation 

within the NCUA. It is managed by the 

NCUA Board and is owned by its 

member credit unions. The CLF’s 

purpose is to improve the general 

stability of credit unions by meeting 

their liquidity needs. The CLF has in 

place form documents that reflect the 

repayment, security, and credit 

reporting terms applicable to all CLF 

loans. The CLF makes loan 

disbursements through the corporate 

credit union network and relies on 

members of the corporate network to 

service loans it has made. 

USC is a second tier corporate credit 

union providing wholesale services to 

other corporate credit unions and plays 

a unique role in connection with credit 

provided by the CLF. The CLF relies on 

USC to serve as representative for all 

corporate credit unions and uses USC as 

the conduit by which funding for loans 

to natural person credit unions is 

provided. Loan proceeds pass through 

USC and go to the corporate credit 

union in which the end recipient of the 

funds is a member, to which the funds 

are ultimately disbursed. Loan 

documents, including the promissory 

note and collateral documents, are 

signed at each level, such that the 

natural person credit union borrower is 

indebted to its corporate, which is in 

turn indebted to USC, which in turn is 

obligated to repay the advance to the 

CLF. Corporate credit unions and USC 

book the obligations to them as assets. 

There are corresponding liabilities at 

each level as well, reflecting the 

obligation to repay the CLF. 

B. Changes. At present, loan 

documents evidencing the indebtedness 

of natural person credit unions to the 

CLF are held by their respective 

corporate credit unions and booked as 

assets. Credit unions measure net worth 

as a function of retained earnings 

divided by assets, so any unusual 

increase on the asset side of the balance 

sheet can have a negative impact on net 

worth, at least until the assets can 

provide a meaningful contribution to 

earnings. Accordingly, the NCUA Board 

has elected to collapse the lending 

relationship so that the indebtedness of 

the natural person credit union to the 

CLF runs directly to it, rather than 

through the retail and wholesale 

corporate credit union levels. Because a 

substantial increase in lending from the 

CLF may be anticipated in the near 

term, the Board believes it prudent to 

modify the lending methodology and 

loan documentation with respect to 

future advances. 

Restructuring the lending relationship 

is consistent with the Congressional 

intent that corporate credit unions serve 

as agent members for the CLF. 12 U.S.C. 

1795c(b). All resulting changes in 

corporate credit union accounting for 

their role in these transactions will be 

accomplished in accordance with 

Generally Accepted Accounting 

Principles. 

Accordingly, the Board intends to 

change this process, both with respect to 

loans already funded and for loans to be 

made in the future. Although CLF still 

intends to fund loans through the 

corporate system, and still intends that 

the appropriate corporate will service 

the loans made to its natural person 

credit union members, going forward 

CLF will hold all loan interests itself 

and will not look to either USC or the 

appropriate corporate credit union as 

guarantors or obligors in respect of the 

loans. Similarly, USC will not book a 

loan owed by the corporate to it in the 

transaction, nor will the corporate book 

a loan owed by the natural person credit 

union to it. Rather, the debt will be 

booked exclusively by the CLF as its 

asset. 

As noted above, the CLF will continue 

to rely on USC as master servicer for all 

loans, and USC will continue to look to 

the appropriate corporate to service 

loans owed by its natural person credit 

union members. In connection with this 

change, CLF will require each corporate 

acting as loan servicer to subordinate 

any claims it might have in the 

collateral owned by natural person 

credit unions that may have been 

pledged to secure an advance from the 

corporate. The CLF may only fund 

advances on a fully secured basis. 12 

CFR 725.19. Since a primary result of 

the changes discussed in this Notice 

will be that USC and the corporates will 

no longer act as guarantor of loans made 

to natural person credit unions, the 

subordination is necessary to assure the 

advances from the CLF comply with the 

collateral requirements in the rule. The 

CLF intends that all new loans funded 

after January 30, 2009, will be handled 

in accordance with the new procedures. 

C. Documents. The agreements by 

which the changes described herein are 

accomplished take the form of an 

Assignment Agreement between the 

CLF and USC, by which existing loans 

are assigned without recourse by USC to 

the CLF, along with an amendment to 

the Repayment, Security and Credit 

Reporting Agreement between CLF and 

USC, dated September 13, 1982, which 

will implement the changes for loans 

made after January 30, 2009. The Board 

is publishing both of these agreements, 

as contemplated by § 725.21 of the CLF 

rule. 12 CFR 725.21. The agreements are 


sroberts on PROD1PC70 with NOTICES
4984 Federal Register / Vol. 74, No. 17 / Wednesday, January 28, 2009 / Notices 

1The Board understands that, in anticipation of 

these changes, USC, as CLF’s Agent Representative, 

has already executed a new CLF Agent 

Representative Assignment and Servicing 

Agreement (Agreement) with each corporate. The 

Agreement provides that loans representing CLF 

advances in existence as of December 30, 2008 and 

made through a corporate are assigned to USC. The 

Agreement, which also confirms the subordination 

by each corporate of its claims to any asset of the 

borrower to that of the CLF, will also apply 

prospectively. Because the CLF is not a party to this 

Agreement, it is not included as an Appendix to 

this Notice. 

set out as Appendices A and B, 

respectively, to this Notice.1

By the National Credit Union 

Administration Board on January 22, 2009. 

Mary Rupp, 

Secretary of the Board. 

Appendix A 

Assignment Agreement Between the 

National Credit Union Administration 

Central Liquidity Facility and U.S. 

Central Federal Credit Union 

This Assignment Agreement (the 

‘‘Assignment Agreement’’) is between 

the National Credit Union 

Administration Central Liquidity 

Facility (the ‘‘CLF’’) and U.S. Central 

Federal Credit Union (‘‘U.S. Central’’), 

effective January 30, 2009 (the 

‘‘Effective Date’’). 

Whereas, the CLF and U.S. Central 

have entered into that certain National 

Credit Union Administration Central 

Liquidity Facility Repayment, Security 

and Credit Reporting Agreement as 

Prescribed by the Facility for Agent 

Group Representatives, dated effective 

September 13, 1982 (the ‘‘Agreement’’), 

as amended by amendment effective 

January 30, 2009 (the ‘‘Amended 

Agreement’’); and 

Whereas, prior to the effective date of 

the Amended Agreement, the CLF made 

Facility Advances to U.S. Central as 

Agent Group Representative for the 

purpose of funding Agent loans by 

corporate credit union members of the 

U.S. Central Agent Group to their 

natural person credit union members 

(‘‘Agent Loans’’); and 

Whereas, on the Effective Date of this 

Assignment Agreement, U.S. Central has 

received an assignment from each 

member of the U.S. Central Agent Group 

of all Agent Loans that are not in 

default; and 

Whereas, U.S. Central desires to 

assign all such Agent Loans to the CLF 

on the Effective Date and the CLF is 

willing to accept that assignment. 

Now, Therefore, U.S. Central and the 

CLF agree as follows: 

1. On the Effective Date, U.S. Central 

hereby assigns to the CLF, without 

recourse to U.S. Central, all outstanding 

Agent Loans with an aggregate principal 

amount equal to the aggregate principal 

amount of Facility advances made by 

the CLF to U.S. Central pursuant to the 

Agreement to fund such Agent Loans 

and the CLF accepts that assignment in 

full satisfaction of the respective 

obligations of U.S. Central to repay the 

amount of the respective Facility 

advances pursuant to the Agreement. 

2. U.S. Central acknowledges and 

agrees that it shall act as the Master 

Servicer for the CLF of those Agent 

Loans pursuant to the Amended 

Agreement. 

Accepted and Agreed: 

U.S. Central Federal Credit Union 

By: llllllllllllllll

Its: lllllllllllllllll

Date: llllllllllllllll

National Credit Union Administration 

Central Liquidity Facility 

By: llllllllllllllll

Its: lllllllllllllllll

Date: llllllllllllllll

Appendix B 

Amendment to the National Credit Union 

Administration Central Liquidity Facility 

Repayment, Security And Credit Reporting 

Agreement as Prescribed by the Facility for 

Agent Group Representatives 

This Amendment (the ‘‘Amendment’’) to 

the National Credit Union Administration 

Central Liquidity Facility Repayment, 

Security and Credit Reporting Agreement as 

Prescribed by the Facility for Agent Group 

Representatives, dated effective September 

13, 1982 (the ‘‘Agreement’’), between the 

National Credit Union Administration 

Central Liquidity Facility (the ‘‘CLF’’ or the 

‘‘Facility’’) and U.S. Central Federal Credit 

Union (‘‘U.S. Central’’ or ‘‘Agent Group 

Representative’’) is effective as of the date 

listed below. 

Whereas, the CLF and U.S. Central have 

previously entered into the Agreement 

pursuant to which the CLF makes Facility 

Advances to U.S. Central for the purpose of 

funding Agent Loans by the corporate credit 

union members of the U.S. Central Agent 

Group to natural person credit unions; and 

Whereas, the CLF and U.S. Central wish to 

amend the Agreement to provide a 

mechanism whereby, among other things, 

certain Agent Loans may be assigned to the 

CLF. 

Now, therefore, the CLF and U.S. Central 

agree as follows: 

1. Capitalized terms used in this 

Amendment and not otherwise defined shall 

have the meaning as used in the Agreement 

or in 12 CFR 725, as applicable. 

2. This Amendment shall be effective on 

the date executed by the CLF. 

3. Subsection (ix) of Section 3 of the 

Agreement is amended by adding the phrase 

‘‘Except as provided in Section 20,’’ at the 

beginning of the subsection. 

4. Section 4 of the Agreement is amended 

by adding the phrase ‘‘Except as provided in 

Section 20,’’ at the beginning of the section. 

5. Subsection (xii) of Section 5 of the 

Agreement is amended by adding the phrase 

‘‘Except as provided in Section 20,’’ at the 

beginning of the subsection. 

6. Section 8 of the Agreement is amended 

by adding the phrase ‘‘Except as provided in 

Section 20,’’ at the beginning of the section. 

7. Section 20 is amended by renumbering 

the current section as Section 21 and 

inserting a new Section 20 to read as follows: 

‘‘(20) Alternative Agent Loan Program. The 

Facility may direct, from time to time, that 

Facility advances shall be made pursuant to 

this Section 20. From and after the effective 

date specified by the Facility for Facility 

advances to be made subject to this Section 

20, all Facility advances made on or after the 

specified date shall be made pursuant to this 

Section 20, until the Facility notifies the 

Agent Group Representative of the date that 

Facility advances shall no longer be made 

pursuant to this Section 20. 

(i) Funds constituting Facility advances 

made pursuant to this Section 20 shall be 

‘‘Facility Funding’’ and shall be transmitted 

without recourse to the Agent Group 

Representative, who shall, as agent for the 

Facility, transmit such funds to the central 

credit union member of the Agent Group 

making the Agent Loan serving as the basis 

of the request for the Facility advance, 

provided however, that the Agent Loan 

funded by Facility Funding and requested by 

the Agent Group Representative is assigned 

to the Facility. 

(ii) If any Agent Loan serving as the basis 

for a request for a Facility advance is not 

made, the Agent Group Representative shall 

require that the Agent member receiving such 

Facility Funding promptly return the Facility 

Funding with respect to such transaction to 

the Agent Group Representative who shall 

then promptly return such funds to the 

Facility. 

(iii) With respect to Facility Funding 

pursuant to this Section, the Agent Group 

Representative shall enter into an assignment 

and servicing agreement (the ‘‘Servicing 

Agreement’’) with each Agent member of the 

Facility who will receive Facility Funding for 

Agent Loans. The Servicing Agreement shall 

provide that each such Agent Loan is (A) 

automatically assigned by the Agent to the 

Agent Group Representative; and (B) subject 

to a representation of the Agent that the 

Agent Loan is supported by a first priority 

security interest in collateral sufficient to 

satisfy the requirements of Part 725.19 (a) of 

NCUA’s Rules and Regulations. In addition, 

the Servicing Agreement shall also provide 

that claims of the Agent member against 

collateral supporting the Agent Loan shall be 

subordinate to claims of the Facility based on 

such Agent Loan against such collateral. The 

Agent member shall service each Agent Loan 

made by such Agent member and promptly 

remit all payments received by the Agent 

member on such Agent Loan or the proceeds 

from the disposition of collateral, in the 

event of a default on the Agent Loan to the 

Agent Group Representative who shall serve 

as master servicer (‘‘Master Servicer’’) of such 

Agent Loans for the Facility. 

(iv) Upon assignment of the Agent Loan to 

the Agent Group Representative, the Agent 

Group Representative hereby assigns such 

Agent Loan to the Facility and the Facility 

hereby accepts each such assignment. 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 74, No. 17 / Wednesday, January 28, 2009 / Notices 4985 

(v) The Agent Group Representative shall 

service each such Agent Loan for the Facility 

as Master Servicer, and promptly remit to the 

Facility all payments of principal and 

interest received by the Master Servicer on 

each such Agent Loan. Unless otherwise 

directed by the Facility, the Master Servicer 

shall automatically, upon receipt, deposit all 

payments received by the Master Servicer 

pertaining to Agent Loans to the Facility’s 

S019 account at U.S. Central. 

8. Except as modified herein, all 

provisions of the Agreement shall 

remain in full force and effect. 

Accepted and Agreed: 

U.S. Central Federal Credit Union 

By: llllllllllllllll

National Credit Union Administration 

Central Liquidity Facility 

By: llllllllllllllll

Effective Date: January 30, 2009. 

[FR Doc. E9–1748 Filed 1–27–09; 8:45 am] 

BILLING CODE 7535–01–P 

THE NATIONAL FOUNDATION ON THE 

ARTS AND THE HUMANITIES 

Meetings of Humanities Panel 

AGENCY: The National Endowment for 

the Humanities. 

ACTION: Notice of additional meeting. 

SUMMARY: Pursuant to the provisions of 

the Federal Advisory Committee Act 

(Pub. L. 92–463, as amended), notice is 

hereby given that the following meeting 

of Humanities Panels will be held at the 

Old Post Office, 1100 Pennsylvania 

Avenue, NW., Washington, DC 20506. 

FOR FURTHER INFORMATION CONTACT: 

Michael P. McDonald, Advisory 

Committee Management Officer, 

National Endowment for the 

Humanities, Washington, DC 20506; 

telephone (202) 606–8322. Hearingimpaired individuals are advised that 

information on this matter may be 

obtained by contacting the 

Endowment’s TDD terminal on (202) 

606–8282. 

SUPPLEMENTARY INFORMATION: The 

proposed meeting is for the purpose of 

panel review, discussion, evaluation 

and recommendation on applications 

for financial assistance under the 

National Foundation on the Arts and the 

Humanities Act of 1965, as amended, 

including discussion of information 

given in confidence to the agency by the 

grant applicants. Because the proposed 

meeting will consider information that 

is likely to disclose trade secrets and 

commercial or financial information 

obtained from a person and privileged 

or confidential and/or information of a 

personal nature the disclosure of which 

would constitute a clearly unwarranted 

invasion of personal privacy, pursuant 

to authority granted me by the 

Chairman’s Delegation of Authority to 

Close Advisory Committee meetings, 

dated July 19, 1993, I have determined 

that this meeting will be closed to the 

public pursuant to subsections (c)(4), 

and (6) of section 552b of Title 5, United 

States Code. 

1. Date: February 27, 2009. 

Time: 9 a.m. to 5 p.m. 

Room: 415. 

Program: This meeting will review 

applications for Humanities Initiatives 

(at Historically Black Colleges and 

Universities, High Hispanic Enrollment 

Institutions, and/or Tribal Colleges and 

Universities), submitted to the Division 

of Education Programs, at the January 

15, 2009 deadline. 

Michael P. McDonald, 

Advisory Committee Management Officer. 

[FR Doc. E9–1822 Filed 1–27–09; 8:45 am] 

BILLING CODE 7536–01–P 

NATIONAL SCIENCE FOUNDATION 

Proposal Review Panel for Physics; 

Notice of Meeting 

In accordance with the Federal 

Advisory Committee Act (Pub. L. 92– 

463, as amended), the National Science 

Foundation announces the following 

meeting. 

Name: Syracuse University Site Visit, 

Proposal Review Panel for Physics 

(1208). 

Date and Time: Wednesday, February 

11, 2009; 8:30 a.m.–6:30 p.m. Thursday, 

February 12, 2009; 8 a.m.–3 p.m. 

Place: Syracuse University, New 

York. 

Type of Meeting: Partially Closed. 

Contact Person: Dr. James Reidy, 

Program Director for Elementary Particle 

Physics, National Science Foundation, 

4201 Wilson Blvd., Arlington, VA 

22230. Telephone: (703) 292–7392. 

Purpose of Meeting: To provide an 

evaluation concerning the proposal 

submitted to the National Science 

Foundation. 

Agenda 

Wednesday, February 11, 2009 

8:30 a.m.–9 a.m. Closed—Executive 

Session. 

9 a.m.–10:15 a.m. Open—Overview 

by Professor Stone. 

10:30 p.m.–12 p.m. Closed— 

Overview and Executive Sessions. 

1 p.m.–4 p.m. Open—Faculty 

Presentations. 

4 p.m.–6:30 p.m. Closed—Executive 

Session. 

Thursday, February 12, 2009 

8 a.m.–9:30 a.m. Closed—Executive 

Session and Discussion with Faculty. 

9:30 a.m.–10:30 a.m. Open—Video 

From CERN. 

10:30 a.m.–11 a.m. Closed—Meeting 

with Associate VP for Research. 

11 a.m.–1 p.m. Open—Tour of 

Laboratory and Shop Facilities. Lunch 

with Students. 

1 p.m.–2:30 p.m. Closed—Executive 

Session, close out with Faculty only. 

2:30 p.m.–3 p.m. Open—Close out. 

Reason for Closing: The proposal 

contains proprietary or confidential 

material, including technical 

information on personnel. These matters 

are exempt under 5 U.S.C. 552b(c)(2)(4) 

and (6) of the Government in the 

Sunshine Act. 

Dated: January 22, 2008. 

Susanne Bolton, 

Committee Management Officer. 

[FR Doc. E9–1817 Filed 1–27–09; 8:45 am] 

BILLING CODE 7555–01–P 

NUCLEAR REGULATORY 

COMMISSION 

[Docket No. 52–036; NRC–2008–0616] 

Entergy Operations, Inc.; River Bend 

Station Unit 3 Combined License 

Application; Notice of Cancellation of 

Environmental Scoping Process and 

Public Scoping Meeting 

Entergy Operations, Inc. (EOI) on 

behalf of itself; Entergy Louisiana, LLC 

(ELL); Entergy Gulf States Louisiana, 

L.L.C. (EGSL); and Entergy Mississippi, 

Inc. (EMI) has submitted an application 

for a combined license (COL) to build 

Unit 3 at its River Bend Station (RBS) 

site, located on approximately 3,330 

acres in West Feliciana Parish on the 

Mississippi River, approximately three 

miles southeast of St. Francisville, 

Louisiana and 24 miles north-northwest 

of Baton Rouge, Louisiana. EOI 

submitted the application for the COL to 

the U.S. Nuclear Regulatory 

Commission (NRC) on September 25, 

2008, pursuant to Title 10 of the Code 

of Federal Regulations (10 CFR) Part 52. 

A notice of intent to prepare an 

environmental impact statement and 

conduct scoping process was published 

in the Federal Register on January 5, 

2009 (74 FR 324). On January 9, 2009, 

EOI submitted a letter to NRC requesting 

that the staff suspend its review of the 

RBS Unit 3 COL application. The 

purpose of this notice is to inform the 

public that the NRC has canceled the 

scoping process and the associated 

scoping meeting for this application. 


sroberts on PROD1PC70 with NOTICES