[Federal Register Volume 61, Number 240 (Thursday, December 12, 1996)]
[Rules and Regulations]
[Pages 65317-65318]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31532]


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FEDERAL RESERVE SYSTEM
12 CFR Part 263

[Docket No. R-0938]


Rules of Practice for Hearings

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Correction to final regulations.

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SUMMARY: This document contains a correction to the final rule (Docket 
No. R-0938), which was published Friday, November 1, 1996 (61 FR 
56407). The rule listed increases in the maximum amounts of each civil 
money penalty under the jurisdiction of the Board of Governors of the 
Federal Reserve System (Board).

EFFECTIVE DATE: October 24, 1996.

FOR FURTHER INFORMATION CONTACT: Alan E. Sorcher, Senior Attorney (202/
452-3564), Legal Division, Board of Governors of the Federal Reserve 
System, 20th and C Streets, NW, Washington, DC 20551.

SUPPLEMENTARY INFORMATION:

Background

    The final rule that is the subject of this correction amended the 
Board's Rules of Practice for Hearings to include a section listing 
increases in the maximum amounts of each civil money penalty under the 
Board's jurisdiction. The Board was required to enact such regulation 
by section 31001(s) of the Debt Collection Improvements Act of 1996 
(Pub.L. 104-134, 110 Stat. 1321-373) which required agencies to adjust 
their statutorily based civil money penalties to account for inflation.

[[Page 65318]]

Need for Correction

    As published, the final rule contains an error which may prove to 
be misleading and is in need of clarification.

Correction of Publication

    Accordingly, the publication on November 1, 1996, of the Final Rule 
(Docket No. R-0938) which was the subject of FR Doc. 96-28017 is 
corrected as follows:


Sec. 263.65  [Corrected]

    Paragraph 1. On page 56408, in the first column, in Sec. 263.65, in 
paragraph (b)(2) introductory text, at the end of the second line, the 
statutory citation ``1972(F)'' is corrected to read ``1972(2)(F)''.

    By order of the Board of Governors of the Federal Reserve 
System, December 6, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-31532 Filed 12-11-96; 8:45 am]
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