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Secretary of Labor Hilda L. Solis
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EBSA Notices

Deutsche Bank AG (DB) Located in Germany, With Affiliates in New York, NY, and Other Locations & Barclays Global Investors, N.A. (BGI) Located in San Francisco, CA   [11/14/2002]
[PDF]
FR Doc 02-28935
[Federal Register: November 14, 2002 (Volume 67, Number 220)]
[Notices]               
[Page 69046]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr14no02-68]                         


[[Page 69046]]

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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

[Prohibited Transaction Exemptions 2002-45 & 2022-46; Exemption 
Application Nos. D-10924 & D-10925]

 
Deutsche Bank AG (DB) Located in Germany, With Affiliates in New 
York, NY, and Other Locations & Barclays Global Investors, N.A. (BGI) 
Located in San Francisco, CA

AGENCY: Pension and Welfare Benefits Administration, U.S. Department of 
Labor (the Department).

ACTION: Notice of technical correction.

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    On September 23, 2002, the Department published PTE 2002-45 and PTE 
2002-46 in the Federal Register, at 67 FR 59564 and 67 FR 59569, 
respectively. PTE 2002-45 and PTE 2002-46 permit securities lending to 
certain DB or BGI affiliates by employee benefit plans for which DB or 
BGI acts as securities lending agent or subagent.
    On page 59567 and 59571, respectively, of the notices granting PTE 
2002-45 and PTE 2002-46, the Department hereby corrects the last 
sentence of subparagraph (p)(2) of Section II to read as follows:

    In addition, none of the entities described above are formed for 
the sole purpose of making loans of securities; and

    On page 59567 and 59571, respectively, of the notices granting PTE 
2002-45 and PTE 2002-46, the Department hereby inserts the following 
subparagraph (p)(3) of Section II to read as follows:

    (3) In the case of two or more Client Plans invested in a 
Commingled Fund, whether or not through an entity described in 
(p)(1) or (p)(2), the $50 million requirement shall be deemed 
satisfied if 50 percent or more of the units of beneficial interest 
in such Commingled Fund are held by investors each having total net 
assets of at least $50 million. Such investors may include Client 
Plans, entities described in (p)(1) or (p)(2), or other investors 
that are not employee benefit plans covered by section 406 of ERISA, 
section 4975 of the Code, or section 8477 of FERSA.


EFFECTIVE DATE: This technical correction to PTE 2002-45 and PTE 2002-
46 is effective as of September 23, 2002, the date those exemptions 
were published in the Federal Register.

FOR FURTHER INFORMATION CONTACT: Gary Lefkowitz or Karen Lloyd of the 
Department, telephone (202) 693-8540. (This is not a toll-free number).

    Signed at Washington, DC, this 8th day of November, 2002.
Ivan Strasfeld,
Director of Exemption Determinations, Pension and Welfare Benefits 
Administration, U.S. Department of Labor.
[FR Doc. 02-28935 Filed 11-13-02; 8:45 am]

BILLING CODE 4520-29-P