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Federal Register / Vol. 86, No. 233 / Wednesday, December 8, 2021 / Rules and Regulations to the payment of such dividend.
Section 7a1 requires that the Board adjust the threshold for total consolidated assets annually to reflect the change in the Gross Domestic Product Price Index, published by the BEA.
Regulation I implements section 7a1 of the Federal Reserve Act by 1
defining the term total consolidated assets, 5 2 incorporating the statutory dividend rates for Reserve Bank stockholders,6 and 3 providing that the Board shall adjust the threshold for total consolidated assets annually to reflect the change in the Gross Domestic Product Price Index.7 The Board has explained that it expects to make this adjustment to the threshold for total consolidated assets using the final second quarter estimate of the Gross Domestic Product Price Index for each year, published by the Bureau of Economic Analysis. 8
II. Adjustment
jspears on DSK121TN23PROD with RULES1

The Board annually adjusts the $10
billion total consolidated asset threshold based on the change in the Gross Domestic Product Price Index between the second quarter of 2015 the baseline year and the second quarter of the current year.9 The second quarter 2021 Gross Domestic Product Price Index estimate published by the BEA in October 2021 117.546 is 12.29 percent higher than the second quarter 2015
Gross Domestic Product Price Index estimate published by the BEA in October 2021 104.683. Based on this change in the Gross Domestic Product Price Index, the threshold for total consolidated assets in Regulation I will be $11,229,000,000 as of January 7, 2022.
5 12 CFR 209.1d3 Total consolidated assets means the total assets on the stockholders balance sheet as reported by the stockholder on its Consolidated Report of Condition and Income Call Report as of the most recent December 31, except in the case of a new member or the surviving stockholder after a merger total consolidated assets means until the next December 31 Call Report becomes available the total consolidated assets of the new member or the surviving stockholder at the time of its application for capital stock.
6 12 CFR 209.4e, c1ii, and d1ii;
209.2a; and 209.3d3.
7 12 CFR 209.4f.
8 81 FR 84415, 84417 Nov. 23, 2016.
9 The BEA makes ongoing revisions to its estimates of the Gross Domestic Product Price Index for historical calendar quarters. The Board calculates annual adjustments from the baseline year rather than from the prior-year total consolidated asset threshold to ensure that the adjusted total consolidated asset threshold accurately reflects the cumulative change in the BEAs most recent estimates of the Gross Domestic Product Price Index.

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III. Administrative Law Matters Administrative Procedure Act The provisions of 5 U.S.C. 553b relating to notice of proposed rulemaking have not been followed in connection with the adoption of these amendments. The amendments involve expected, ministerial adjustments that are required by statute and Regulation I
and are consistent with a method previously set forth by the Board.10
Accordingly, the Board finds good cause for determining, and so determines, that notice in accordance with 5 U.S.C.
553b is unnecessary.
Regulatory Flexibility Act The Regulatory Flexibility Act RFA
does not apply to a rulemaking where a general notice of proposed rulemaking is not required.11 As noted previously, the Board has determined that it is unnecessary to publish a general notice of proposed rulemaking for this final rule. Accordingly, the RFAs requirements relating to an initial and final regulatory flexibility analysis do not apply.
Paperwork Reduction Act In accordance with the Paperwork Reduction Act of 1995,12 the Board has reviewed this final rule. No collections of information pursuant to the Paperwork Reduction Act are contained in the final rule.
List of Subjects in 12 CFR Part 209
Banks and banking, Federal Reserve System, Reporting and recordkeeping requirements, Securities.
Authority and Issuance For the reasons set forth in the preamble, the Board amends Regulation I, 12 CFR part 209, as follows:
PART 209ISSUE AND
CANCELLATION OF FEDERAL
RESERVE BANK CAPITAL STOCK
REGULATION I
1. The authority citation for part 209
continues to read as follows:

Authority: 12 U.S.C. 12 U.S.C. 222, 248, 282, 286288, 289, 321, 323, 327328, and 466.

2. In part 209, remove all references to $10,785,000,000 and add in their place $11,229,000,000 wherever they appear.

10 See 12 CFR 209.4f and n. 8 and accompanying text, supra.
11 5 U.S.C. 603 and 604.
12 44 U.S.C. 3506; 5 CFR 1320.

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By order of the Board of Governors of the Federal Reserve System, under delegated authority, December 2, 2021.
Ann E. Misback, Secretary of the Board.
FR Doc. 202126542 Filed 12721; 8:45 am BILLING CODE 621001P

DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration 14 CFR Part 39
Docket No. FAA20210778; Project Identifier 2019CE062AD; Amendment 3921834; AD 20212413
RIN 2120AA64

Airworthiness Directives; Daher Aerospace Type Certificate Previously Held by SOCATA Airplanes Federal Aviation Administration FAA, DOT.
ACTION: Final rule.
AGENCY:

The FAA is adopting a new airworthiness directive AD for certain Daher Aerospace type certificate previously held by SOCATA Model TBM 700 airplanes. This AD was prompted by mandatory continuing airworthiness information MCAI
originated by an aviation authority of another country to identify and correct an unsafe condition on an aviation product. The MCAI describes the unsafe condition as a non-conforming dump switch ejecting from its slot. This AD
requires modifying certain dump switches. The FAA is issuing this AD to address the unsafe condition on these products.

SUMMARY:

This AD is effective January 12, 2022.
The Director of the Federal Register approved the incorporation by reference of a certain publication listed in this AD
as of January 12, 2022.
ADDRESSES: For service information identified in this final rule, contact Daher Aerospace Inc., Pompano Beach Airpark, 601 NE 10 Street, Pompano Beach, FL 33060; phone: 954 893
1400; website: https www.tbm.aero.
You may view this service information at the FAA, Airworthiness Products Section, Operational Safety Branch, 901
Locust, Kansas City, MO 64106. For information on the availability of this material at the FAA, call 816 329
4148. It is also available at https
www.regulations.gov by searching for and locating Docket No. FAA2021
0778.
DATES:

E:FRFM08DER1.SGM

08DER1