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yshivers on PROD1PC62 with RULES 72234 Federal Register / Vol. 72, No. 244 / Thursday, December 20, 2007 / Rules and Regulations located in ADAMS, contact the NRC’s PDR Reference staff at (800) 397–4209, (301) 415–4737, or by e-mail to pdr@nrc.gov. FOR FURTHER INFORMATION CONTACT: Stewart Schneider, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001; telephone (301) 415– 4123; e-mail sxs4@nrc.gov. SUPPLEMENTARY INFORMATION: The Nuclear Regulatory Commission published a final rule amending regulations that would become effective January 3, 2008. The final rule, published December 4, 2007 (72 FR 68043) related to the reporting of annual dose to workers, the definition of Total Effective Dose Equivalent (TEDE), the labeling of certain containers holding licensed material, and the determination of cumulative occupational radiation dose. This final rule will limit the routine reporting of annual doses to those workers whose annual dose exceeds a specific dose threshold or who request a report. The rule will also modify the labeling requirements for certain containers holding licensed material within posted areas in nuclear power facilities, and will amend the definition of TEDE to be consistent with current Commission policy. Finally, this rule will remove the requirement that licensees attempt to obtain cumulative exposure records for workers unless these individuals are being authorized to receive a planned special exposure. These revisions will reduce the administrative and information collection burdens on NRC and Agreement State licensees without affecting the level of protection for either the health and safety of workers and the public, or for the environment. This final rule will amend information collection requirements contained in 10 CFR parts 19, 20, and 50, and NRC Form 4 that are subject to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.). These information collection requirements were sent for approval to the Office of Management and Budget on November 28, 2007; while the changes to 10 CFR parts 19, 20, and 50, and NRC Form 4 do not contain a new or amended information collection requirements, the NRC has not received final clearance for these amended requirements. Because the rule will reduce the burden for existing information collection requirements, the public burden for the information collections in 10 CFR part 19 and NRC Form 4 is expected to be decreased by 235 and 44 hours per licensee, respectively. This reduction includes the time required for reviewing VerDate Aug<31>2005 15:40 Dec 19, 2007 Jkt 214001 instructions, searching existing data sources, gathering and maintaining the data needed and completing and reviewing the information collection. Existing requirements were approved by the Office of Management and Budget, approval number(s) 3150–0044, 3150– 0014, 3150–0011, and 3150–0005. In order to allow sufficient time for OMB to complete its review of the information collections requirements imposed in this rule, the NRC is deferring the effective date of the December 4, 2007, amendments to 10 CFR parts 19, 20, and 50 until February 15, 2008. Dated at Rockville, Maryland, this 13th day of December 2007. For the Nuclear Regulatory Commission. Annette L. Vietti-Cook, Secretary of the Commission. [FR Doc. E7–24636 Filed 12–19–07; 8:45 am] BILLING CODE 7590–01–P FEDERAL RESERVE SYSTEM 12 CFR Part 203 [Regulation C; Docket No. R-1303] Home Mortgage Disclosure Board of Governors of the Federal Reserve System. ACTION: Final rule; staff commentary. AGENCY: SUMMARY: The Board is publishing a final rule amending the staff commentary that interprets the requirements of Regulation C (Home Mortgage Disclosure). The staff commentary is amended to increase the asset-size exemption threshold for depository institutions based on the annual percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers. The adjustment from $36 million to $37 million reflects the increase of that index by 2.70% percent during the twelve-month period ending in November 2007. Thus, depository institutions with assets of $37 million or less as of December 31, 2007, are exempt from collecting data in 2008. DATES: Effective January 1, 2008. FOR FURTHER INFORMATION CONTACT: Dan S. Sokolov or John C. Wood, Counsels, Division of Consumer and Community Affairs, at (202) 452–3667; for users of Telecommunications Device for the Deaf (TDD) only, contact (202) 263–4869. SUPPLEMENTARY INFORMATION: The Home Mortgage Disclosure Act (HMDA; 12 U.S.C. 2801 et seq.) requires most mortgage lenders located in metropolitan areas to collect data about PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 their housing-related lending activity. Annually, lenders must report that data to their federal supervisory agencies and make the data available to the public. The Board’s Regulation C (12 CFR part 203) implements HMDA. Prior to 1997, HMDA exempted depository institutions with assets totaling $10 million or less, as of the preceding year-end. Provisions of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (codified at 12 U.S.C. 2808(b)) amended HMDA to expand the exemption for small depository institutions. The statutory amendment increased the asset-size exemption threshold by requiring a one-time adjustment of the $10 million figure based on the percentage by which the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPIW) for 1996 exceeded the CPIW for 1975, and provided for annual adjustments thereafter based on the annual percentage increase in the CPIW. The one-time adjustment increased the exemption threshold to $28 million for 1997 data collection. Section 203.2(e)(1)(i) of Regulation C provides that the Board will adjust the threshold based on the year-to-year change in the average of the CPIW, not seasonally adjusted, for each twelvemonth period ending in November, rounded to the nearest million. Pursuant to this section, the Board has adjusted the threshold annually, as appropriate. For 2007, the threshold was $36 million. During the twelve-month period ending in November 2007, the CPIW increased by 2.70% percent. As a result, the exemption threshold is raised to $37 million. Thus, depository institutions with assets of $37 million or less as of December 31, 2007, are exempt from collecting data in 2008. An institution’s exemption from collecting data in 2008 does not affect its responsibility to report data it was required to collect in 2007. Final Rule Under the Administrative Procedure Act, notice and opportunity for public comment are not required if the Board finds that notice and public comment are unnecessary. 5 U.S.C. 553(b)(B). The amendment in this notice is technical. Comment 2(e)–2 to section 203.2 of the regulation is amended to implement the increase in the exemption threshold. This amendment merely applies the formula established by Regulation C for determining adjustments to the exemption threshold. For these reasons, the Board has determined that publishing a notice of proposed rulemaking and providing opportunity E:\FR\FM\20DER1.SGM 20DER1 Federal Register / Vol. 72, No. 244 / Thursday, December 20, 2007 / Rules and Regulations for public comment are unnecessary. Therefore, the amendment is adopted in final form. List of Subjects in 12 CFR Part 203 Banks, Banking, Federal Reserve System, Mortgages, Reporting and recordkeeping requirements. ■ For the reasons set forth in the preamble, the Board amends 12 CFR part 203 as follows: PART 203—HOME MORTGAGE DISCLOSURE (REGULATION C) 1. The authority citation for part 203 continues to read as follows: ■ Authority: 12 U.S.C. 2801–2810. 2. In Supplement I to part 203, under section 203.2 Definitions, 2(e) Financial Institution, paragraph 2. is revised. ■ * * * * Section 203.2—Definitions 2(e) Financial Institution * * * * * 2. Adjustment of exemption threshold for depository institutions. For data collection in 2008, the asset-size exemption threshold is $37 million. Depository institutions with assets at or below $37 million as of December 31, 2007 are exempt from collecting data for 2008. * * * * SUPPLEMENTARY INFORMATION: I. Introduction Supplement I to Part 203—Staff Commentary * under the Home Owners’ Loan Act (HOLA). In addition, OTS is amending 12 CFR 584.4 to conform the regulation to the statute that it is intended to implement, and to set forth standards that OTS will use to evaluate applications submitted pursuant to the statutory application requirement. DATES: This rule is effective April, 2008. FOR FURTHER INFORMATION CONTACT: Donald W. Dwyer, Director, Applications, Examination and Supervision—Operations, (202) 906– 6414; or Kevin A. Corcoran, (202) 906– 6962, Deputy Chief Counsel for Business Transactions, Office of Chief Counsel; Office of Thrift Supervision, 1700 G Street, NW., Washington, DC 20552. * By order of the Board of Governors of the Federal Reserve System, acting through the Director of the Division of Consumer and Community Affairs under delegated authority, December 14, 2007. Jennifer J. Johnson, Secretary of the Board. [FR Doc. E7–24612 Filed 12–19–07; 8:45 am] On March 27, 2007, OTS published a notice of proposed rulemaking (NPR) that proposed certain changes to the OTS Holding Company Regulations.1 In the NPR, OTS proposed to expand the activities permissible for SLHCs. In addition, OTS proposed to revise its regulations at 12 CFR 584.4 to: (i) Conform to the statute it implements by providing that OTS may approve acquisitions by SLHCs of more than five percent of the voting shares of a savings association that is not a subsidiary of the acquiring SLHC, or more than five percent of the voting shares of a SLHC that is not a subsidiary of the acquiring SLHC; (ii) provide approval standards for applications submitted under the regulation; and (iii) reorganize the regulation. A. Holding Company Activities With respect to holding company activities, under section 10(c)(9) of the HOLA,2 SLHCs generally are permitted to engage only in activities that are permissible for financial holding companies under section 4(k) of the Bank Holding Company Act (BHCA),3 or activities that are listed in section 10(c)(2) of the HOLA.4 Section 10(c)(2)(F)(i) permits SLHCs to engage in activities: BILLING CODE 6210–01–P DEPARTMENT OF THE TREASURY Office of Thrift Supervision 12 CFR Part 584 [Docket ID OTS–2007–0007] RIN 1550–AC10 Permissible Activities of Savings and Loan Holding Companies Office of Thrift Supervision, Treasury. ACTION: Final rule. AGENCY: which the Board of Governors of the Federal Reserve System, by regulation, has determined to be permissible for bank holding companies under section 1843(c) of this title, unless the Director, by regulation, yshivers on PROD1PC62 with RULES 1 72 The Office of Thrift Supervision (OTS) is revising its regulations, at 12 CFR 584.2 and 584.2– 2, to expand the permissible activities of savings and loan holding companies (SLHCs) to the full extent permitted SUMMARY: VerDate Aug<31>2005 16:18 Dec 19, 2007 Jkt 214001 FR 14246 (Mar. 27, 2007). U.S.C. 1467a(c)(9). 3 12 U.S.C. 1843(k). 4 12 U.S.C. 1467a(c)(2). SLHCs that were SLHCs on May 4, 1999, and meet certain other requirements, are excepted from the activities limitations of section 10(c)(9) of the HOLA. See 12 U.S.C. 1467a(c)(9)(C). 72235 prohibits or limits any such activity for savings and loan holding companies. * * * 5 As authorized by the statute, OTS limited the activities permitted for SLHCs under section 10(c)(2)(F)(i) of the HOLA. OTS regulations implementing section 10(c)(2)(F)(i) have limited the activities that are permissible under this authority to activities that the Board of Governors of the Federal Reserve System (FRB) has permitted for bank holding companies under regulations implementing section 4(c)(8) of the BHCA.6 In the NPR, OTS observed that the regulatory scheme for SLHCs has changed significantly since the regulations were first promulgated in 1987. In 1987, most SLHCs were excepted from activities restrictions. After the passage of the Gramm-LeachBliley Act 7 in 1999, all new SLHCs have been, with limited exceptions, subject to activities restrictions. In addition, since 1987 many foreign entities have acquired, or have expressed interest in acquiring, a savings association. To the extent that sections 4(c)(9) and 4(c)(13) of the BHCA, and regulations that the FRB has promulgated thereunder, authorize bank holding companies with foreign operations to engage in certain activities, it would appear appropriate to provide the same authority to SLHCs. For many years, bank holding companies have been permitted to engage in the activities described in section 4(c) of the BHCA, consistent with the regulations of the FRB. OTS is not aware of any safety and soundness or other reason why SLHCs should not be permitted to engage in the same activities. Accordingly, OTS proposed to revise its regulations to enable SLHCs to engage in activities that the FRB has permitted under any regulation that the FRB has promulgated under section 4(c) of the BHCA. B. Approval Requirement for Certain Acquisitions by SLHCs Section 10(e)(1)(A)(iii) of HOLA prohibits SLHCs from directly or indirectly acquiring, without OTS approval, more than five percent of the voting shares of a savings association that is not a subsidiary of the acquiring SLHC, or more than five percent of the voting shares of a SLHC that is not a subsidiary of the acquiring SLHC.8 2 12 PO 00000 Frm 00003 Fmt 4700 Sfmt 4700 5 12 U.S.C. 1467a(c)(2)(F)(i). U.S.C. 1843(c)(8). 7 Pub. L. 106–102, 113 Stat. 338, section 401. 8 12 U.S.C. 1467a(e)(1)(A)(iii). The statute establishes eight exceptions from the approval 6 12 E:\FR\FM\20DER1.SGM Continued 20DER1
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