66730 Federal Register / Vol. 66, No. 248 / Thursday, December 27, 2001 / Rules and Regulations

GSE that is below the highest

investment grade or downgrades, or

places on a credit watch for a potential

downgrade of the credit rating on any

senior unsecured obligation issued by a

GSE to below the highest investment

grade, the special limits on unsecured

extensions of credit under paragraph

(c)(1) of this section shall cease to apply,

and instead, the Bank shall calculate the

maximum amount of its unsecured

extensions of credit to that GSE in

accordance with paragraphs (a)(1) and

(a)(2) of this section.

(4) Extensions of unsecured credit to

other Banks. The limits of this section

do not apply to unsecured credit

extended by one Bank to another Bank.

(d) Extensions of unsecured credit

after downgrade or placement on credit

watch. If an NRSRO downgrades the

credit rating applicable to any

counterparty or places any counterparty

on a credit watch for a potential

downgrade, a Bank need not unwind or

liquidate any existing transaction or

position with that counterparty that

complied with the limits of this section

at the time it was entered. In such a

case, however, a Bank may extend any

additional unsecured credit to such a

counterparty only in compliance with

the limitations that are calculated using

the lower maximum exposure limits.

For the purposes of this section, the

renewal of an existing unsecured

extension of credit, including any

decision not to terminate any sales of

federal funds subject to a continuing

contract, shall be considered an

additional extension of unsecured credit

that can be undertaken only in

accordance with the lower limit.

(e) Reporting requirements. (1) Total

unsecured extensions of credit. Each

Bank shall report monthly to the

Finance Board the amount of the Bank’s

total unsecured extensions of credit

arising from on- and off-balance sheet

and derivative transactions to any single

counterparty or group of affiliated

counterparties that exceeds 5 percent of:

(i) The Bank’s total capital; or

(ii) The counterparty’s, or affiliated

counterparties’ combined, Tier 1 capital,

or if Tier 1 capital is not available, total

capital (as defined by each

counterparty’s principal regulator) or

some similar comparable measure

identified by the Bank.

(2) Total secured and unsecured

extensions of credit. Each Bank shall

report monthly to the Finance Board the

amount of the Bank’s total secured and

unsecured extensions of credit arising

from on- and off-balance sheet and

derivative transactions to any single

counterparty or group of affiliated

counterparties that exceeds 5 percent of

the Bank’s total assets.

(3) Extensions of credit in excess of

limits. A Bank shall report promptly to

the Finance Board any extensions of

unsecured credit that exceeds any limit

set forth in paragraphs (a), (b) or (c) of

this section. In making this report, a

Bank shall provide the name of the

counterparty or group of affiliated

counterparties to which the excess

unsecured credit has been extended, the

dollar amount of the applicable limit

which has been exceeded, the dollar

amount by which the Bank’s extension

of unsecured credit exceeds such limit,

the dates for which the Bank was not in

compliance with the limit, and, if

applicable, a brief explanation of any

extenuating circumstances which

caused the limit to be exceeded.

(f) Measurement of unsecured

extensions of credit. (1) In general. For

purposes of this section, unsecured

extensions of credit will be measured as

follows:

(i) For on-balance sheet transactions,

an amount equal to the sum of the book

value of the item plus net payments due

the Bank;

(ii) For off-balance sheet transactions,

an amount equal to the credit equivalent

amount of such item, calculated in

accordance with § 932.4(f) of this part;

and

(iii) For derivative transactions, an

amount equal to the sum of the current

and potential future credit exposures for

the derivative contract, where those

values are calculated in accordance with

§§ 932.4(g) or 932.4(h) of this part, as

applicable, less the amount of any

collateral that is held in accordance

with the requirements of

§ 932.4(e)(2)(ii)(B) of this part against

the credit exposure from the derivative

contract.

(2) Status of debt obligations

purchased by the Bank. Any debt

obligation or debt security (other than

mortgage-backed securities or acquired

member assets that are identified in

§§ 955.2(a)(1) and (2) of this chapter)

purchased by a Bank shall be

considered an unsecured extension of

credit for the purposes of this section,

except:

(i) Any amount owed the Bank against

which the Bank holds collateral in

accordance with § 932.4(e)(2)(ii)(B) of

this part; or

(ii) Any amount which the Finance

Board has determined on a case-by-case

basis shall not be considered an

unsecured extension of credit.

(g) Obligations of the United States.

Obligations of, or guaranteed by, the

United States are not subject to the

requirements of this section.

Dated: December 11, 2001.

By the Board of Directors of the Federal

Housing Finance Board.

J. Timothy O’Neill,

Chairman.

[FR Doc. 01–31570 Filed 12–26–01; 8:45 am]

BILLING CODE 6725–01–P

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. 2001–CE–29–AD; Amendment

39–12562; AD 2001–25–09]

RIN 2120–AA64

Airworthiness Directives; Dornier

Luftfahrt GmbH Model 228–212

Airplanes

AGENCY: Federal Aviation

Administration, DOT.

ACTION: Final rule.

SUMMARY: This amendment adopts a

new airworthiness directive (AD) that

applies to all Dornier Luftfahrt GmbH

(Dornier) Model 228–212 airplanes that

have a certain brake assembly installed.

This AD requires you to inspect the

brake housing subassembly for cracks,

nicks, or corrosion (referred to as

damage). This AD also requires you to

replace damaged brake housing

assemblies and modify the torque takeout cavity. This AD is the result of

mandatory continuing airworthiness

information (MCAI) issued by the

airworthiness authority for Germany.

The actions specified by this AD are

intended to detect and correct damage

to the brake housing assembly, which

could result in failure of this assembly.

Such failure could lead to loss of

braking action on landing and possible

loss of control of the airplane.

DATES: This AD becomes effective on

January 18, 2002.

The Director of the Federal Register

approved the incorporation by reference

of certain publications listed in the

regulations as of January 18, 2002.

ADDRESSES: You may get the service

information referenced in this AD from

Dornier Luftfahrt GmbH, Customer

Support, P.O. Box 1103, D–82230

Wessling, Federal Republic of Germany;

telephone: (08153) 300; facsimile:

(08153) 304463. You may view this

information at the Federal Aviation

Administration (FAA), Central Region,

Office of the Regional Counsel,

Attention: Rules Docket No. 2001–CE–

29–AD, 901 Locust, Room 506, Kansas

City, Missouri 64106; or at the Office of

Federal Register / Vol. 66, No. 248 / Thursday, December 27, 2001 / Rules and Regulations 66731

the Federal Register, 800 North Capitol

Street, NW, suite 700, Washington, DC.

FOR FURTHER INFORMATION CONTACT: Karl

Schletzbaum, Aerospace Engineer, FAA,

Small Airplane Directorate, 901 Locust,

Room 301, Kansas City, Missouri 64106;

telephone: (816) 329–4146; facsimile:

(816) 329–4090.

SUPPLEMENTARY INFORMATION:

Discussion

What events have caused this AD?

The Luftfahrt-Bundesamt (LBA), which

is the airworthiness authority for

Germany, recently notified FAA that an

unsafe condition may exist on all

Dornier Model 228–212 airplanes

equipped with brake assembly partnumber 5009850–1, 5009850–2,

5009850–3, or 5009850–4. The LBA

reports one occurrence of failure of the

right-hand main landing gear (MLG)

brake housing subassembly on one of

the above-referenced airplanes. Failure

of the brake housing assembly resulted

in total loss of braking power.

The brake manufacturer, Aircraft

Braking Systems Corporation (ABSC),

has developed a modification to the

torque take-out cavity of the brake

housing assembly. The incorporation of

this modification on Dornier Model

228–212 airplanes would prevent

surface damage from developing into

fatigue damage.

What is the potential impact if FAA

took no action? Damage to the brake

housing assembly, if not detected and

corrected, could result in failure of this

assembly. Such failure could result in

loss of braking action on landing and

possible loss of control of the airplane.

Has FAA taken any action to this

point? We issued a proposal to amend

part 39 of the Federal Aviation

Regulations (14 CFR part 39) to include

an AD that would apply to all Dornier

Model 228–212 airplanes that have a

certain brake assembly installed. This

proposal was published in the Federal

Register as a notice of proposed

rulemaking (NPRM) on October 2, 2001

(66 FR 50125). The NPRM proposed to

require you to inspect the brake housing

subassembly for cracks, nicks, or

corrosion (referred to as damage),

replace damaged brake housing

assemblies, and modify the torque takeout cavity.

Was the public invited to comment?

The FAA encouraged interested persons

to participate in the making of this

amendment. We did not receive any

comments on the proposed rule or on

our determination of the cost to the

public.

FAA’s Determination

What is FAA’s final determination on

this issue? After careful review of all

available information related to the

subject presented above, we have

determined that air safety and the

public interest require the adoption of

the rule as proposed except for minor

editorial corrections. We have

determined that these minor

corrections:

—Provide the intent that was proposed

in the NPRM for correcting the unsafe

condition; and

—Do not add any additional burden

upon the public than was already

proposed in the NPRM.

Cost Impact

How many airplanes does this AD

impact? We estimate that this AD affects

1 airplane in the U.S. registry.

What is the cost impact of this AD on

owners/operators of the affected

airplane? We estimate the following

costs to accomplish the inspection:

Labor cost Parts cost Total cost per

airplane

Total cost on

U.S. operators

10 workhours × $60 per hour = $600 .......................... No parts required for the inspection ............................. $600 $600

You will not need parts or special

equipment to accomplish any necessary

repairs after the inspection. The time

necessary to accomplish any repairs is

included in the inspection labor cost.

We estimate the following costs to

accomplish any necessary replacements

that will be required based on the

results of the inspection. We have no

way of determining the number of

airplanes that may need such

replacements.

Labor cost Parts cost Total cost per

airplane

9 workhours × $60 per hour = $540 ........................................................................................................................ $46 $586

ABSC will provide labor

reimbursement for the modification to

the torque take-out cavity of the brake

housing to the extent noted in Service

Bulletin Do228–212–13, dated

December 15, 2000.

Regulatory Impact

Does this AD impact various entities?

The regulations adopted herein will not

have a substantial direct effect 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, it is

determined that this final rule does not

have federalism implications under

Executive Order 13132.

Does this AD involve a significant rule

or regulatory action? For the reasons

discussed above, I certify that this

action (1) is not a ‘‘significant regulatory

action’’ under Executive Order 12866;

(2) is not a ‘‘significant rule’’ under DOT

Regulatory Policies and Procedures (44

FR 11034, February 26, 1979); and (3)

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 final

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, Incorporation by reference,

Safety.

Adoption of the Amendment

Accordingly, under the authority

delegated to me by the Administrator,

the Federal Aviation Administration

amends 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 U.S.C. 106(g), 40113, 44701.

66732 Federal Register / Vol. 66, No. 248 / Thursday, December 27, 2001 / Rules and Regulations

§ 39.13 [Amended]

2. FAA amends § 39.13 by adding a

new AD to read as follows:

2001–25–09 Dornier Luftfahrt GMBH:

Amendment 39–12562; Docket No.

2001–CE–29–AD.

(a) What airplanes are affected by this AD?

This AD affects Model 228–212 airplanes, all

serial numbers, that are:

(1) certificated in any category; and

(2) equipped with brake assembly partnumber 5009850–1, 5009850–2, 5009850–3,

or 5009850–4.

(b) Who must comply with this AD?

Anyone who wishes to operate any of the

above airplanes must comply with this AD.

(c) What problem does this AD address?

The actions specified by this AD are intended

to detect and correct damage to the brake

housing assembly, which could result in

failure of this assembly. Such failure could

lead to loss of braking action on landing and

possible loss of control of the airplane.

(d) What actions must I accomplish to

address this problem? To address this

problem, you must accomplish the following:

Actions Compliance Procedures

(1) Inspect, using both visual and eddy current

methods, the brake housing subassembly for

damage (cracks, nicks, corrosion, etc.), and

accomplish the following:

(i) Replace the brake housing if damage is

found in the torque take-out cavity in the

area specified in the referenced service information; or

(ii) Repair the brake housing if damage is

found on the walls of the torque take-out

cavity and the width exceeds the maximum

limit specified in the referenced service information.

Inspect within the next 300 hours time-in-service (TIS) after January 18, 2002, the effective date of this AD. Repair or replace prior

to further flight.

In accordance with Aircraft Braking Systems

Corporation Service Bulletin Do228–212–

32–13, dated December 15, 2000, and Aircraft Braking Systems Corporation Service

Bulletin Do228–212–32–12, dated November 15, 2000, as specified in Fairchild/

Dornier Dornier 228 Service Bulletin SB–

228–236, issued January 11, 2001.

(2) Modify the torque take-out cavity of the

brake housing assembly.

Prior to further flight after the inspection required by paragraph (d)(1) of this AD, and

thereafter prior to the installation of a brake

housing subassembly.

In accordance with Aircraft Braking System

Corporation Service Bulletin Do228–212–

32–13, dated December 15, 2000, and Aircraft Braking Systems Corporation Service

Bulletin Do228–212–32–12, dated November 15, 2000, as specified in Fairchild/

Dornier Dornier 228 Service Bulletin SB–

228–236, issued January 11, 2001.

(3) Do not install any brake housing assembly

(or FAA-approved equivalent part number)

unless it has been inspected as required in

paragraph (d)(1) of this AD, is damage free

or repaired as required in paragraph (d)(1)(ii)

of this AD; and modified as required in paragraph (d)(2) of this AD.

As of January 18, 2002, the effective date of

this AD.

Not applicable.

(e) Can I comply with this AD in any other

way? You may use an alternative method of

compliance or adjust the compliance time if:

(1) Your alternative method of compliance

provides an equivalent level of safety; and

(2) The Manager, Small Airplane

Directorate, approves your alternative.

Submit your request through an FAA

Principal Maintenance Inspector, who may

add comments and then send it to the

Manager, Small Airplane Directorate.

Note 1: This AD applies to each airplane

identified in paragraph (a) of this AD,

regardless of whether it has been 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

request approval for an alternative method of

compliance in accordance with paragraph (e)

of this AD. The request should include an

assessment of the effect of the modification,

alteration, or repair on the unsafe condition

addressed by this AD; and, if you have not

eliminated the unsafe condition, specific

actions you propose to address it.

(f) Where can I get information about any

already-approved alternative methods of

compliance? Contact Karl Schletzbaum,

Aerospace Engineer, FAA, Small Airplane

Directorate, 901 Locust, Room 301, Kansas

City, Missouri 64106; telephone: (816) 329–

4146; facsimile: (816) 329–4090.

(g) What if I need to fly the airplane to

another location to comply with this AD? The

FAA can issue a special flight permit under

sections 21.197 and 21.199 of the Federal

Aviation Regulations (14 CFR 21.197 and

21.199) to operate your airplane to a location

where you can accomplish the requirements

of this AD.

(h) Are any service bulletins incorporated

into this AD by reference? Actions required

by this AD must be done in accordance with

Aircraft Braking Systems Corporation Service

Bulletin Do228–212–32–13, dated December

15, 2000, Aircraft Braking Systems

Corporation Service Bulletin Do228–212–32–

12, dated November 15, 2000, and Fairchild/

Dornier Dornier 228 Service Bulletin SB–

228–236, issued January 11, 2001. The

Director of the Federal Register approved this

incorporation by reference under 5 U.S.C.

552(a) and 1 CFR part 51. You can get copies

from Dornier Luftfahrt GmbH, Customer

Support, P.O. Box 1103, D-82230 Wessling,

Federal Republic of Germany. You can look

at copies at the FAA, Central Region, Office

of the Regional Counsel, 901 Locust, Room

506, Kansas City, Missouri, or at the Office

of the Federal Register, 800 North Capitol

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

Note 2: The subject of this AD is addressed

in German AD Number 2001–164, dated June

14, 2001.

(i) When does this amendment become

effective? This amendment becomes effective

on January 18, 2002.

Issued in Kansas City, Missouri, on

December 11, 2001.

Michael Gallagher,

Manager, Small Airplane Directorate, Aircraft

Certification Service.

[FR Doc. 01–31297 Filed 12–26–01; 8:45 am]

BILLING CODE 4910–13–P