[Code of Federal Regulations] [Title 40, Volume 31] [Revised as of July 1, 2007] From the U.S. Government Printing Office via GPO Access [CITE: 40CFR1051.710] [Page 661] TITLE 40--PROTECTION OF ENVIRONMENT CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) PART 1051_CONTROL OF EMISSIONS FROM RECREATIONAL ENGINES AND VEHICLES--Table of Contents Subpart H_Averaging, Banking, and Trading for Certification Sec. 1051.710 How do I generate and bank emission credits? (a) Banking is the retention of emission credits by the manufacturer generating the emission credits for use in averaging or trading in future model years. You may use banked emission credits only within the averaging set in which they were generated. (b) If your average emission level is below the average standard, you may calculate credits according to Sec. 1051.720. Credits you generate do not expire. (c) You may generate credits if you are a certifying manufacturer. (d) In your application for certification, designate any emission credits you intend to bank. These emission credits will be considered reserved credits. During the model year and before the due date for the final report, you may redesignate these emission credits for averaging or trading. (e) You may use banked emission credits from the previous model year for averaging or trading before we verify them, but we may revoke these emission credits if we are unable to verify them after reviewing your reports or auditing your records. (f) Reserved credits become actual emission credits only when we verify them in reviewing your final report. [70 FR 40505, July 13, 2005] [[Page 662]]