[Federal Register: July 12, 2005 (Volume 70, Number 132)]
[Notices]
[Page 40025-40029]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr12jy05-68]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Proposed Collection;
Comment Request
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY:
Background
On June 15, 1984, the Office of Management and Budget (OMB)
delegated to the Board of Governors of the Federal Reserve System
(Board) its approval authority under the Paperwork Reduction Act, as
per 5 CFR 1320.16, to approve of and assign OMB control numbers to
collection of information requests and requirements conducted or
sponsored by the Board under conditions set forth in 5 CFR part 1320
Appendix A.1. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. Copies of the OMB 83-Is and supporting
statements and approved collection of information instruments are
placed into OMB's public docket files. The Federal Reserve may not
conduct or sponsor, and the respondent is not required to respond to,
an information collection that has been extended, revised, or
implemented on or after October 1, 1995, unless it displays a currently
valid OMB control number.
Request for Comment on Information Collection Proposals
The following information collections, which are being handled
under this delegated authority, have received initial Board approval
and are hereby published for comment. At the end of the comment period,
the proposed information collections, along with an analysis of
comments and recommendations received, will be submitted to the Board
for final approval under OMB delegated authority. Comments are invited
on the following:
a. Whether the proposed collection of information is necessary for
the proper performance of the Federal Reserve's functions; including
whether the information has practical utility;
b. the accuracy of the Federal Reserve's estimate of the burden of
the proposed information collection, including the validity of the
methodology and assumptions used;
c. ways to enhance the quality, utility, and clarity of the
information to be collected; and
d. ways to minimize the burden of information collection on
respondents, including through the use of automated collection
techniques or other forms of information technology.
DATES: Comments must be submitted on or before September 12, 2005.
ADDRESSES: You may submit comments, identified by FR K-2, FR Y-1F, FR
Y-9C, by any of the following methods:
Agency Web Site: http://www.federalreserve.gov Follow the instructions for submitting comments at http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm.
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: (202) 452-3819 or (202) 452-3102.
Mail: Jennifer J. Johnson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue,
NW., Washington, DC 20551.
All public comments are available from the Board's Web site at
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified as necessary for technical reasons.
Accordingly, your comments will not be edited to remove any identifying
or contact information. Public comments may also be viewed
electronically or in paper in Room MP-500 of the Board's Martin
Building (20th and C Streets, NW.) between 9 a.m. and 5 p.m. on
weekdays.
FOR FURTHER INFORMATION CONTACT: A copy of the proposed form and
instructions, the Paperwork Reduction Act Submission (OMB 83-I),
supporting statement, and other documents that will be placed into
OMB's public docket files once approved may be requested from the
agency clearance officer, whose name appears below.
Michelle Long, Federal Reserve Board Clearance Officer (202) 452-3829,
Division of Research and Statistics, Board of Governors of the Federal
[[Page 40026]]
Reserve System, Washington, DC 20551. Telecommunications Device for the
Deaf (TDD) users may contact (202) 263-4869, Board of Governors of the
Federal Reserve System, Washington, DC 20551.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, Without Revision, of the Following Report
Report title: Notifications Related to Community Development and
Public Welfare Investments of State Member Banks.
Agency form number: FR H-6.
OMB control number: 7100-0278.
Frequency: Event-generated.
Reporters: State Member Banks.
Annual reporting hours: 125.
Estimated average hours per response: Investment notice, 2 hours;
Application (Prior Approval) 5 hours; and Extension of divestiture
period, 5 hours.
Number of respondents: Investment notice, 10; Application (Prior
Approval) 20; and Extension of divestiture period, 1.
General description of report: This information collection is
required to obtain a benefit (12 U.S.C. 338a, and 12 CFR 208.22).
Individual respondent data generally are not regarded as confidential,
but information that is proprietary or concerns examination ratings
would be considered confidential.
Abstract: Regulation H requires state member banks that want to
make community development or public welfare investments to comply with
the Regulation H notification requirements: (1) If the investment does
not require prior Board approval, a written notice must be sent to the
appropriate Federal Reserve Bank; (2) if certain criteria are not met,
a request for approval must be sent to the appropriate Federal Reserve
Bank; and, (3) if the Board orders divestiture but the bank cannot
divest within the established time limit, a request or requests for
extension of the divestiture period must be submitted to the
appropriate Federal Reserve Bank.
Proposal To Approve Under OMB Delegated Authority the Extension for
Three Years, With Revision, of the Following Reports
1. Report title: Application for a Foreign Organization To Become a
Bank Holding Company.
Agency form number: FR Y-1F.
OMB control number: 7100-0119.
Frequency: On occasion.
Reporters: any company organized under the laws of a foreign
country seeking to acquire a U.S. subsidiary bank or bank holding
company.
Annual reporting hours: 710.
Estimated average hours per response: 70-90 hours.
Number of respondents: 9.
General description of report: This information collection is
required to obtain or retain a benefit under sections 3(a), 3(c), and
5(a) through 5(c) of the Bank Holding Company Act (12 U.S.C. 1842(a)
and (c) and 1844(a) through (c) and is not given confidential treatment
unless the applicant specifically requests confidentiality and the
Federal Reserve approves the request.
Abstract: Under the Bank Holding Company Act (BHCA), submission of
this application is required for any company organized under the laws
of a foreign country seeking to acquire a U.S. subsidiary bank or bank
holding company. Applicants must provide financial and managerial
information, discuss the competitive effects of the proposed
transaction, and discuss how the proposed transaction would enhance the
convenience and needs of the community to be served. The Federal
Reserve uses the information, in part, to fulfill its supervisory
responsibilities with respect to foreign banking organizations in the
United States.
Current Actions: Foreign organizations seeking initial entry are
currently required to file the FR Y-1F. However, the filing
requirements are ambiguous for foreign organizations that are already
subject to the BHCA and seek to acquire a U.S. bank or bank holding
company. In order to clarify and streamline the application process for
foreign organizations, the Federal Reserve proposes to explicitly state
that these organizations should file the FR Y-1F. Thus, the FR Y-1F
would be retitled, renumbered, and modified to achieve consistency with
the FR Y-3, the Application for Prior Approval to Become a Bank Holding
Company or for a Bank Holding Company to Acquire an Additional Bank or
Bank Holding Company (OMB No. 7100-0121), the form used by domestic
holding companies. Also, the Federal Reserve proposes technical
clarifications to the instructions that would remove page number
references to the Interagency Biographical or Financial Report (FR
2081c; OMB No. 7100-0134) and insert a sentence into the standard
commitment language in order to make the commitments more enforceable.
2. Report title: International Applications and Prior Notifications
Under Subpart B of Regulation K.
Agency form number: FR K-2.
OMB control number: 7100-0284.
Frequency: On occasion.
Reporters: Foreign banks.
Annual reporting hours: 420.
Estimated average hours per response: 35.
Number of respondents: 12.
General description of report: This information collection is
required to obtain or retain a benefit under sections 7 and 10 of the
International Banking Act (12 U.S.C. 3105 and 3107) and Regulation K
(12 CFR 211.24(a) and is not given confidential treatment unless the
applicant specifically requests confidentiality and the Federal Reserve
approves the request.
Abstract: Foreign banks are required to obtain the prior approval
of the Federal Reserve to establish a branch, agency, or representative
office; to acquire ownership or control of a commercial lending company
in the United States; or to change the status of any existing office in
the United States. The Federal Reserve uses the information, in part,
to fulfill its statutory obligation to supervise foreign banking
organizations with offices in the United States.
Current Actions: The Federal Reserve proposes technical
clarifications to the instructions that would remove page number
references to the Interagency Biographical or Financial Report (FR
2081c; OMB No. 7100-0134), correct language pertaining to
representative offices, and insert a sentence into the standard
commitment language in order to make the commitments more enforceable.
Proposal To Approve Under OMB Delegated Authority the Revision of the
Following Report
Report title: Financial Statements for Bank Holding Companies.
Agency form number: FR Y-9C, FR Y-9LP, FR Y-9SP, FR Y-9CS, and FR
Y-9ES.
OMB control number: 7100-0128.
Frequency: Quarterly, semiannually, and annually.
Reporters: BHCs.
Annual reporting hours: 400,536.
Estimated average hours per response: FR Y-9C: 35.55 hours; FR Y-
9LP: 4.75 hours; FR Y-9SP: 4.85 hours; FR Y-9ES: 30 minutes; FR Y-9CS:
30 minutes.
Number of respondents: FR Y-9C: 2,240; FR Y-9LP: 2,590; FR Y-9SP:
3,253; FR Y-9ES: 87; FR Y-9CS: 600.
General description of report: This information collection is
mandatory (12 U.S.C. 1844(c)). Confidential treatment is not routinely
given to the data in these reports. However, confidential treatment for
the reporting information, in whole or in part, can be requested in
accordance with the instructions to the form, pursuant to sections
(b)(4), (b)(6)
[[Page 40027]]
and (b)(8) of the Freedom of Information Act (5 U.S.C. 522(b)(4),
(b)(6) and (b)(8)).
Abstract: The FR Y-9C collects basic financial data from a domestic
BHC on a consolidated basis in the form of a balance sheet, an income
statement, and detailed supporting schedules, including a schedule of
off-balance-sheet items, similar to the Federal Financial Institutions
Examination Council (FFIEC) Consolidated Reports of Condition and
Income (Call Reports) (FFIEC 031 & 041; OMB No. 7100-0036). The FR Y-9C
collects data from the BHC as of the end of March, June, September, and
December. The FR Y-9C is filed by top-tier BHCs with total consolidated
assets of $150 million or more and lower-tier BHCs that have total
consolidated assets of $1 billion or more. In addition, multibank
holding companies with total consolidated assets of less than $150
million with debt outstanding to the general public or engaged in
certain nonbank activities must file the FR Y-9C.
The FR Y-9LP collects basic financial data from domestic BHCs on an
unconsolidated, parent-only basis in the form of a balance sheet, an
income statement, and supporting schedules relating to investments,
cash flow, and certain memoranda items. This report is filed as of the
end of March, June, September, and December on a parent company only
basis by each BHC that files the FR Y-9C. In addition, for tiered BHCs,
a separate FR Y-9LP must be filed for each lower-tier BHC.
The FR Y-9SP is a parent company only financial statement filed by
smaller BHCs as of the end of June and December. Respondents include
one-bank holding companies with total consolidated assets of less than
$150 million and multibank holding companies with total consolidated
assets of less than $150 million that meet certain other criteria. This
form is a simplified or abbreviated version of the more extensive
parent company only financial statement for large BHCs (FR Y-9LP). This
report collects basic balance sheet and income information for the
parent company, information on intangible assets, and information on
intercompany transactions.
The FR Y-9CS is a free form supplement that may be utilized to
collect any additional information deemed to be critical and needed in
an expedited manner. It is intended to supplement the FR Y-9C and FR Y-
9SP reports.
The FR Y-9ES collects financial information from employee stock
ownership plans (ESOPs) that are also BHCs on their benefit plan
activities as of December 31. It consists of four schedules: Statement
of Changes in Net Assets Available for Benefits, Statement of Net
Assets Available for Benefits, Memoranda, and Notes to the Financial
Statements.
Current Actions: The Federal Reserve proposes to revise the FR Y-9C
to collect information on purchased impaired loans in response to
Statement of Position 03-3, Accounting for Certain Loans or Debt
Securities Acquired in a Transfer (SOP 03-3) issued by the American
Institute of Certified Public Accountants (AICPA), and to collect
information related to the Government National Mortgage Association
(GNMA) mortgage loan optional repurchase program (rebooked loans
backing GNMA securities).
Proposed Revisions to the FR Y-9C
The Federal Reserve proposes to revise the FR Y-9C to collect
information on purchased impaired loans and rebooked loans backing GNMA
securities. Revisions to the FR Y-9 family of reports are typically
made once per year effective with the March 31st reporting date,
however, in light of the change in generally accepted accounting
principles (GAAP), \1\ as it relates to reporting for purchased
impaired loans and important supervisory considerations, the Federal
Reserve proposes to revise the FR Y-9C report effective with the
September 2005 report date. The proposed revisions would be consistent
with the proposed changes to the FFIEC 031 Call Report, effective for
the June 2005 report date. In addition to modifying instructions to
incorporate the proposed reporting changes, instructions may be revised
and clarified in an attempt to achieve greater consistency in reporting
by respondents.
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\1\ For this purpose the AICPA Statement of Position is GAAP.
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Purchased Impaired Loans
SOP 03-3 applies to ``purchased impaired loans,'' i.e., loans that
an institution has purchased, including those acquired in a purchase
business combination, when there is evidence of deterioration of credit
quality since the origination of the loan and it is probable, at the
purchase date, that the institution will be unable to collect all
contractually required payments receivable. SOP 03-3 does not apply to
the loans that an institution has originated, and also excludes certain
acquired loans from its scope.
Under SOP 03-3, a purchased impaired loan is initially recorded at
its purchase price (in a purchase business combination, the present
value of amounts to be received). The Statement of Position limits the
yield that may be accreted on the loan (the accretable yield) to the
excess of the institution's estimate of the undiscounted principal,
interest, and other cash flows expected at acquisition to be collected
on the loan over the institution's initial investment in the loan. The
excess of contractually required cash flows over the cash flows
expected to be collected on the loan, which is referred to as the
nonaccretable difference, must not be recognized as an adjustment of
yield, loss accrual, or valuation allowance. Neither the accretable
yield nor the nonaccretable difference may be shown on the balance
sheet. After acquisition, increases in the cash flows expected to be
collected generally should be recognized prospectively as an adjustment
of the loan's yield over its remaining life. Decreases in cash flows
expected to be collected should be recognized as impairment.
The Statement of Position prohibits an institution from ``carrying
over'' or creating valuation allowances (loan loss allowances) in the
initial accounting for purchased impaired loans. This prohibition
applies to the purchase of an individual impaired loan, a pool or group
of impaired loans, and impaired loans acquired in a purchase business
combination. As a consequence, SOP 03-3 provides that valuation
allowances should reflect only those losses incurred after acquisition,
that is, the present value of all cash flows expected at acquisition
that ultimately are not to be received. Thus, because of the accounting
model set forth in SOP 03-3, institutions will need to segregate their
purchased impaired loans, if any, from the remainder of their loan
portfolio for purposes of determining their overall allowance for loan
and lease losses.
According to the Basis for Conclusions of SOP 03-3, the AICPA's
Accounting Standards Executive Committee ``believes that the accounting
for acquired loans within the scope of this SOP is sufficiently
different from the accounting for originated loans, particularly with
respect to provisions for impairment * * *, such that the amount of
loans accounted for in accordance with this SOP should be disclosed
separately in the notes to financial statements.'' The Federal Reserve
agrees with this assessment and consistent with the disclosures
required by SOP 03-3, proposes to add three items to the FR Y-9C to
provide a better understanding of the relationship between the
allowances for loan and lease losses and the carrying amount of the
loan portfolios of those institutions
[[Page 40028]]
whose portfolios include purchased impaired loans. All three of these
items represent information included in the disclosures required by SOP
03-3. The Federal Reserve believes that not identifying the reporting
effect of SOP 03-3 on these data may cause significant confusion
regarding the historical credit quality of an organization's loan
portfolio.
The Federal Reserve proposes to add two memorandum items to
Schedule HC-C, ``Loans and Leases,'' and one memoranda item to Schedule
HI-B, Part II, ``Changes in Allowance for Loan and Lease Losses,'' to
collect information on purchased impaired loans held for investment
accounted for in accordance with AICPA SOP 03-3. New Schedule HC-C
memorandum item 5(a) would collect the outstanding balance \2\ and new
memorandum item 5(b) would collect the carrying amount \3\ as of the
report date of the purchased impaired loans held for investment \4\
that are included in Schedule HC-C. New Schedule HI-B, Part II,
memorandum item 4 would collect the amount of loan loss allowances for
purchased impaired loans held for investment that is included in the
total amount of the allowance for loan and lease losses as of the
report date.
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\2\ The outstanding balance is the undiscounted sum of all
amounts, including amounts deemed principal, interest, fees,
penalties, and other under the loan, owed to the bank holding
company at the report date, whether or not currently due and whether
or not any such amounts have been charged off by the bank holding
company. The outstanding balance does not include amounts that would
be accrued under the contract as interest, fees, penalties, and
other after the report date.
\3\ The carrying amount reflects the recorded investment in all
purchased impaired loans reported as held for investment, before any
allowances established after acquisition for decreases in cash flows
expected to be collected.
\4\ Loans held for investment are those loans that the
institution has the intent and ability to hold for the foreseeable
future or until maturity or payoff. Thus, the outstanding balance
and carrying amount of any purchased impaired loans that are held
for sale would not be reported in these proposed Memorandum items.
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The Federal Reserve also proposes to revise the instructions to
Schedule HC-N, Past Due and Nonaccrual Loans, Leases, and Other Assets,
to explain how purchased impaired loans should be reported in this
schedule. SOP 03-3 does not prohibit placing loans on nonaccrual status
and any nonaccrual purchased impaired loans should be reported
accordingly in Schedule HC-N. For those purchased impaired loans that
are not on nonaccrual status, institutions should determine their
delinquency status in accordance with the contractual repayment terms
of the loans without regard to the purchase price of (initial
investment in) these loans or the amount and timing of the cash flows
expected at acquisition.
Rebooked Loans Backing GNMA Securities
Government National Mortgage Association (GNMA) mortgage-backed
securities are backed by residential mortgage loans that are insured or
guaranteed by the Federal Housing Administration (FHA), the Veterans
Administration (VA), or the Farmers Home Administration (FmHA). GNMA
programs allow financial institutions to buy back individual delinquent
mortgage loans that meet certain criteria from the securitized loan
pool for which the institution provides servicing. At the servicer's
option and without GNMA's prior authorization, the servicer may
repurchase such a delinquent loan for an amount equal to 100 percent of
the remaining principal balance of the loan. Under FASB Statement No.
140, Accounting for Transfers and Servicing of Financial Assets and
Extinguishments of Liabilities, this buy-back option is considered a
conditional option until the delinquency criteria are met, at which
time the option becomes unconditional.
When the loans backing a GNMA security are initially securitized,
Statement No. 140 permits the issuer of the security to treat the
transaction as a sale for accounting purposes because the conditional
nature of the buy-back option means that the issuer does not maintain
effective control over the loans. The loans are removed from the
issuer's balance sheet. When individual loans later meet GNMA's
specified delinquency criteria and are eligible for repurchase, the
issuer (provided the issuer is also the servicer) is deemed to have
regained effective control over these loans and, under Statement No.
140, the loans can no longer be reported as sold. The delinquent GNMA
loans must be brought back onto the issuer-servicer's books as assets
and initially recorded at fair value, regardless of whether the issuer
intends to exercise the buy-back option.
The Federal Reserve proposes that all delinquent rebooked GNMA
loans should be treated the same as any other delinquent loans carried
on the balance sheet and reported as past due on Schedule HC-N, ``Past
Due and Nonaccrual Loans, Leases, and Other Assets.'' In response to a
similar change proposed to the Call Report, a number of institutions
commented that they disagreed that delinquent rebooked GNMA loans
should be reflected in total past due loans. Because the combined
presentation of these assets may obscure their different risk profiles
and valuation methodologies, they suggested adding a memoranda line
item to the Call Report to report such balances separate from the
total. The FFIEC Reports Task Force (RTF) determined that including
delinquent rebooked GNMA loans in the body of the past due schedule
should not lead to inconsistent disclosure of these loans in the Call
Report. The RTF further cited guidance provided by the Securities and
Exchange Commission (SEC) indicating that aggregate reported amounts of
past due and nonaccrual loans should include such ``re-recognized'' or
rebooked delinquent assets, and that organizations may want to provide
supplemental disclosure of the fact that these loans are guaranteed by
the U.S. Government to assist users in understanding the aggregate
amounts of past due loans.\5\ In response to public comment and in
keeping with SEC guidance, the RTF plans to break out past due and
nonaccrual rebooked GNMA loans so that users can make any desired
adjustments to the reported values for total past due and nonaccrual
loans.
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\5\ Accounting staff members in the SEC's Division of
Corporation Finance prepared guidance on ``Current Accounting and
Disclosure Issues in the Division of Corporation Finance'' dated
November 30, 2004, and updated on March 4, 2005. Both versions of
this guidance discuss ``Accounting for Loans or Other Receivables
Covered by Buyback Provisions,'' including, but not limited to,
loans securitized through GNMA.
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Consistent with changes to be made to the Call Report as of June
30, 2005, the Federal Reserve proposes to add an item to Schedule HC-N,
``Past Due and Nonaccrual Loans, Leases, and Other Assets,'' to collect
information related to the GNMA mortgage loan optional repurchase
program. Schedule HC-N, item 11, collects information on loans and
leases past due or nonaccruing which are wholly or partially guaranteed
by the U.S. government. New item 11(b) would collect information on
rebooked loans backing GNMA securities that have been repurchased or
are eligible for repurchase included in item 11. Current item 11(a),
``Guaranteed portion of loans and leases included in item 11 above,''
would be modified to include the parenthetical phrase ``exclude
rebooked `GNMA loans'.''
The Federal Reserve also proposes to revise current reporting
instructions for Schedule HC-N, item 11, which permit institutions to
not report as past due delinquent GNMA loans that are repurchased when
they are ``in foreclosure status'' at the time of repurchase, provided
the government reimbursement process is proceeding
[[Page 40029]]
normally. The exception from past due reporting for GNMA loans ``in
foreclosure status'' predates FAS 140. More specifically, when this
exception was added to the FR Y-9C instructions, the accounting
standards then in effect did not require the seller to rebook
delinquent GNMA loans for which the repurchase option became
unconditional unless the loans were actually repurchased. Institutions
could choose to repurchase delinquent GNMA loans ``in foreclosure
status'' from the loan pool backing a GNMA security rather than
continuing to make monthly advances to the pool on these delinquent
loans while initiating foreclosure action.
Until the exception was added, an institution that repurchased
delinquent loans in foreclosure status had to report the loans as past
due in its regulatory reports whereas an institution making monthly
advances on delinquent loans without repurchasing them did not have to
report these loans as past due. The creation of the exception
eliminated this reporting difference, which depended on how the
institution chose to handle its servicing responsibilities. In
contrast, under FAS 140, delinquent GNMA loans must be rebooked as
assets as soon as the repurchase option becomes unconditional, whether
or not the loans are repurchased. Consequently, the difference in
balance sheet treatment for repurchased delinquent GNMA loans versus
those eligible for repurchase that led the agencies to create the
exception from past due reporting no longer exists. Therefore the
Federal Reserve proposes that all delinquent rebooked GNMA loans,
including those in foreclosure status, should be treated consistently
and reported as past due in new item 11(b).
Clarifications
In March 2005 the Federal Reserve began collecting information on
the FR Y-9C on the name and address of the BHC's external auditing firm
and the name and e-mail address of the engagement partner. This
information is completed only by top-tier BHCs that have a full-scope
audit conducted. Effective for the December 31, 2005, report date, in
order to confirm that a BHC did have a full-scope audit conducted, the
FR Y-9C reporting form would be clarified by adding a checkbox for a
respondent to indicate if they had engaged in a full-scope audit as of
the December 31, report date. This check box would also be added to the
FR Y-9SP as of the December 31, 2005, reporting date.
Schedule HC-R, Regulatory Capital, does not currently allow a BHC
to report an amount in column B, ``Items Not Subject to Risk-
Weighting,'' item 34, ``Cash and balances due from depository
institutions,'' because such items were not expected to exist within
this asset category when this schedule was originally designed.
However, when amounts are included in column A, ``Totals (from Schedule
HC),'' item 34 for certain embedded derivatives; these embedded
derivatives should be risk-weighted under the rules for derivatives
rather than the rules that apply to the cash and due from asset
account. Effective for the September 30, 2005, report date, in order to
allow for the proper reporting of these embedded derivatives included
in item 34, column A, the Federal Reserve would modify Schedule HC-R to
permit the use of column B, item 34.
Board of Governors of the Federal Reserve System, July 6, 2005.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 05-13628 Filed 7-11-05; 8:45 am]
BILLING CODE 6210-01-P