65162 Federal Register / Vol. 66, No. 243 / Tuesday, December 18, 2001 / Proposed Rules

Stress Test (m = 0) using the following

methodology:

(1) For each month m and each debt and

swap instrument i (each swap leg is

considered a separate instrument),

determine the Month of Next Repricing

(MNRm) defined as the first month

greater than m in which the instrument

matures, an option is exercised, or

repricing can occur whether or not the

coupon rate actually changes. Set the

Principal Balance (PBm) to be:

(a) the principal (or notional principal)

outstanding if the instrument cash flows

are paid by the Enterprise,

(b) minus the principal (or notional

principal) outstanding if the instrument

cash flows are received by the

Enterprise.

(2) Calculate NSDOm by summing PBm,i for

all instruments where MNRm,i is less

than or equal to m plus 12.

(3) Calculate TDOm by summing PBm,i for

instruments where MNRm,i is greater

than m.

d. Set the Maximum Proportion of Total

Debt (MPD):

MPD TDO NSDO

TDO = 0 0 −

0

e. Calculate Discount Rate Factor (DRFm):

DRF CF m m = + 





 1

12

6

Where: CFm = six month Enterprise Cost of

Funds for month m

f. Calculate the Adjustment Factor for

Short-Term Debt Issuance Fees (AFSIFm):

AFSIF DRF

ISCOST DRF m m

m

= 1− ×

g. Calculate the Adjustment Factor for

Long-Term Debt Issuance Fees (AFLIFm):

AFLIF

ILCOST m = −

1

1

h. Calculate the Maximum Long-Term

Issuance (MLTIm):

MLTI NCD AFLIF mm m = ×

i. Calculate Net Short-Term Debt

Outstanding (NSDOm) and Total Debt

Outstanding (TDOm) for month m using

the methodology described in section

3.c. of this section. Note: This

calculation must reflect all new

issuances, option exercises, and

maturities between the beginning of the

Stress Test and month m.

j. Calculate Interim Face Amount of LongTerm Debt to be issued this month

(IFALDm):

IFALD

MPD TDO NSDO MPD AFSIF NCD

MPD AFSIF MPD

AFLIF

m

m m mm

m

m

= ( ) ( ) − × + +× × ( )

−+ × 



 





1

1

k. Calculate Face Amount of Long-Term Debt to be issued (FALDm):

FALDm m = min max MLTI IFALD ( ) m, , ( ) 0

l. Calculate Face Amount of Short-Term Debt to be issued (FASDm):

FASD AFSIF FALD

AFLIF m m m

m

=× − 



 



 NCD max 0, m

* * * * *

3.10.3.6.2***

[a] * * *

5. Fixed Assets. 25 percent of fixed assets

(net of accumulated depreciation) as of

the beginning of the Stress Test remain

constant over the Stress Test. The

remaining 75 percent is converted to

cash on a straight line basis over the tenyear Stress Period. Depreciation is

included in the base on which operating

expenses are calculated for each month

during the Stress Period.

* * * * *

4.0 * * *

Enterprise Cost of Funds: Cost of funds

used in computing the cost of new debt for

the Enterprises during the Stress Test, as

specified in section 3.3.3[a]3.c., of this

Appendix.

* * * * *

Dated: December 11, 2001.

Armando Falcon, Jr.,

Director, Office of Federal Housing Enterprise

Oversight.

[FR Doc. 01–30898 Filed 12–17–01; 8:45 am]

BILLING CODE 4220–01–P

DEPARTMENT OF HOUSING AND

URBAN DEVELOPMENT

24 CFR Parts 5 and 202

[Docket No. FR–4681–C–02]

Uniform Financial Reporting

StandardsFor HUD Housing Programs,

Additional Entity Filing Requirements;

Correction

AGENCY: Office of the General Counsel,

HUD.

ACTION: Proposed rule; correction.

SUMMARY: On November 30, 2001, HUD

published a proposed rule entitled

‘‘Uniform Financial Reporting

Standards for HUD Housing Programs,

Additional Entity Filing Requirements.’’

The preamble to the rule (although not

the rule text) misstates the date by

which the financial statements of

entities covered by the rule must submit

their financial statements electronically.

This notice corrects the preamble.

FOR FURTHER INFORMATION CONTACT: For

further information about the entities

covered by the proposed rule and this

correction notice, Lynn Herbert, the

Office of Housing, U.S. Department of

Housing and Urban Development, 451

Seventh Street, SW., Washington, DC

20410, telephone 202–708–3976 (this is

not a toll-free number). For general

information about this notice and the

proposed rule, Stacey Kniff, Real Estate

Assessment Center, U.S. Department of

Housing and Urban Development, 1280

Maryland Avenue, SW., Suite 800,

Washington, DC 20024, telephone

Technical Assistance Center, 1–888–

245–4860 (this is a toll-free number).

Persons with hearing or speech

impairments may access these

telephone numbers via TTY by calling

the Federal Information Relay Service at

(800) 877–8339. Additional information

is available from the REAC Web site at

http://www.hud.gov/reac/.

SUPPLEMENTARY INFORMATION: On

November 30, 2001, HUD published a

proposed rule entitled ‘‘Uniform

Financial Reporting Standards for HUD

Housing Programs, Additional Entity

Filing Requirements’’ at 66 FR 60132.

The preamble to the proposed rule, in

the third column of that page,

immediately above the ‘‘Findings and

Certifications’’ section, states:

Federal Register / Vol. 66, No. 243 / Tuesday, December 18, 2001 / Proposed Rules 65163

This rule when issued as a final rule would

be effective for the covered Title I and Title

II nonsupervised lenders, nonsupervised

mortgagees, and loan correspondents after

December 31, 2001. Audited financial

statements submitted by the covered entities

on or after January 1, 2002 must be submitted

electronically. Audited financial statements

submitted prior to January 1, 2002, may

either be submitted in paper or electronically

at the lenders’ option.

Due to the time frame of this

rulemaking, the effective date has been

pushed back to June 1, 2002, which is

stated correctly in the regulation at

§ 5.801(d)(3). In the proposed rule

published on November 30, 2001, the

second paragraph in the third column

on page 60132 as FR Doc 01–29680

quoted above should read:

This rule when issued as a final rule would

be effective for the covered Title I and Title

II nonsupervised lenders, nonsupervised

mortgagees, and loan correspondents after

May 31, 2001. Audited financial statements

submitted by the covered entities on or after

June 1, 2002 must be submitted

electronically. Audited financial statements

submitted prior to June 1, 2002, may either

be submitted on paper or electronically at the

lenders’ option.

Dated: December 12, 2001.

Aaron Santa Anna,

Assistant General Counsel, for Regulations.

[FR Doc. 01–31049 Filed 12–17–01; 8:45 am]

BILLING CODE 4210–27–P

DEPARTMENT OF LABOR

Office of Labor-Management

Standards

29 CFR Part 470

RIN 1215–AB33

Obligations of Federal Contractors and

Subcontractors; Notice of Employee

Rights Concerning Payment of Union

Dues or Fees

AGENCY: Office of Labor-Management

Standards, Employment Standards

Administration, Labor.

ACTION: Notice of request for duplicate

copies of comments affected by mail

delivery problems.

SUMMARY: The Office of LaborManagement Standards (OLMS) is

seeking information about, and

duplicate copies of, public comments

that may have been submitted via U.S.

mail, but that have not yet been received

by OLMS because of mail delivery

problems that the U.S. Department of

Labor experienced from October

through December of 2001. The subject

of such comments would have been a

Notice of Proposed Rule-Making

(NPRM) that was published in the

Federal Register on October 1, 2001.

The NPRM proposed a regulation to

implement Executive Order 13201,

which was signed by President George

W. Bush on February 17, 2001.

DATES: Submission Period: Duplicate

copies of comments that were originally

submitted by U.S. mail before the

November 30, 2001, close of the

comment period, and that have not yet

been received by OLMS, must be

submitted and received by January 2,

2002.

ADDRESSES: Duplicate copies of

comments originally submitted via U.S.

mail during the comment period should

be sent to Don Todd, Deputy Assistant

Secretary for Labor-Management

Programs, Office of Labor-ManagementStandards, Employment Standards

Administration, U.S. Department of

Labor. Because of the special

circumstances, described below, that

require the issuance of this notice,

OLMS prefers that such duplicate

copies and accompanying

documentation (see below) be

transmitted by facsimile (FAX) machine

or e-mail. The e-mail address for

transmitting these documents is OLMSMail@fenix2.dol-esa.gov. The telephone

number of the FAX receiver is (202)

693–1340. Please note that the NPRM

originally limited comments sent via

FAX transmittal to five pages or fewer;

however, this limitation will not apply

to transmission of duplicate copies. As

described in detail in the

‘‘Supplementary Information’’ section

below, arrangements for hard-copy

delivery may also be made by contacting

OLMS.

As set forth in the NPRM, comments

will be available for public inspection

during normal business hours at the

above address.

FOR FURTHER INFORMATION CONTACT: Kay

Oshel, Chief, Division of Interpretations

and Standards, Office of LaborManagement Standards, Employment

Standards Administration, U.S.

Department of Labor, 200 Constitution

Avenue, NW, Room N–5605,

Washington, DC 20210, (202) 693–1233

(this is not a toll-free number).

Individuals with hearing impairments

may call 1–800–877–8339 (TTY/TDD).

SUPPLEMENTARY INFORMATION: On

October 1, 2001, OLMS published the

above-mentioned NPRM. See 66 FR

50010. The NPRM proposed a Rule to

implement Executive Order 13201 (66

FR 11221, February 22, 2001). As set

forth in detail in the preamble to the

NPRM, that Order requires non-exempt

Government contractors and

subcontractors to post notices informing

their employees that under Federal law,

those employees have certain rights

related to union membership and use of

union dues and fees. The Order also

provides the text of contractual

provisions that Federal Government

contracting departments and agencies

must include in every Government

contract, except for collective bargaining

agreements (as defined in 5 U.S.C.

7103(a)(8)) and contracts for purchases

under the Simplified Acquisition

Threshold (as defined in the Office of

Federal Procurement Policy Act, 41

U.S.C. 403). The Rule proposed in the

NPRM would provide the text of the

required contractual provisions, explain

exemptions, and set forth procedures for

ensuring compliance with the Order; it

also would contain other related

requirements. See 66 FR 50010 et seq.

Both the Executive Order and the

Proposed Rule were intended to inform

employees of their rights under the

decisions of the United States Supreme

Court in Communications Workers of

America v. Beck, 487 U.S. 735 (1988),

and related cases.

The NPRM invited comments on the

Proposed Rule. Comments were to be

submitted to Deputy Assistant Secretary

Don Todd at the Department of Labor’s

(the Department’s) main building, the

Frances Perkins Building (FPB), in

Washington, DC. The NPRM established

the deadline for receipt of such

comments as November 30, 2001.

On October 22, 2001, because postal

workers at the U.S. Postal Service’s

Brentwood mail distribution center in

Washington, DC, were found to have

been exposed to anthrax bacteria, the

Department temporarily closed its

mailrooms in the Washington

metropolitan area that received mail

from Brentwood, including the

mailroom in the Frances Perkins

Building. As a result, all mail that was

addressed to the FPB (including all firstclass mail postmarked October 12 or

later) was redirected to a Lima, Ohio,

facility to be irradiated. This situation

was not anticipated when OLMS set the

deadline for receipt of comments on the

NPRM.

The FPB mailroom reopened on

Monday, November 26, 2001. However,

because of the large amount of mail that

was redirected to Ohio for irradiation,

delivery of the redirected mail to its

intended recipients has not yet been

completed, and may not be completed

for some time.

As of December 12, 2001, OLMS has

received comments about the NPRM

from the following six commenters: the

National Legal and Policy Center; the

Employment Policy Foundation; the