Document oDpy1y0JkNz0qp0xQ8JXkd153

22586 Federal Register / Vol. 51. No. 119 / Friday. June 20. 1986 / Notices Department, Code 35100. 2020 K Street, SECURITIES AND EXCHANGE unsubordinated Notes, the indenture NW,, Washington, DC 20006, 202-956- COMMISSION dated as of August 25,1977 involved the 5050 (202-956-5059 for TTY and TDD). These are not toll free numbers. (File No. 22-15399] issuance of Rising-Rate Notes, Series A and the indenture dated 89 of April 21. SUPPLEMENTARY INFORMATION: On Aguust 27,1985. the Pension Benefit Guaranty Corporation ("PBGC'') published in the Federal Register, at 50 FR 34679, a final rule on Arbitration of Disputes in MuHiemployer Plans, 29 CFR Part 2641. This Tina! rule, which became effective on September 26.1985, sets forth procedures for the arbitration of withdrawal liability disputes between employers and the sponsors of multiemployer pension plans. Section 2641.13 of the rule provides that, in lieu of the procedures therein prescribed, an arbitration may be conducted in accordance with an alternative arbitration procedure approved by the PBGC. On September 19.1985, the PBGC . published in the Federal Register, at 50 FR 38046. a notice of its approval of the Multiemployer Pension Plan Arbitration Rules effective June 1.1901, sponsored by the International Foundation of Employee Benefit Plans and Application and Opportunity For Hearing; Citicorp [une 13.1986. Notice is hereby given that Citicorp (the "Applicant") has filed an application tinder clause (ii) of section 310(b)(1) of the Trust Indenture Act of 1939 (the "Act") for a Finding that the trusteeship of United States Trust Company of New York (the "Trust Company") under four existing indentures, and two Pooling and Servicing Agreements (the "Agreements") each dated as of April 1, 1986 under which certificates evidencing interests in a pool of mortgage loans have been issued, is not so likely to involve a material conflict of interest as to make it necessary in the public interest or for the protection of investors to disqualify the Trust Company from acting as Trustee under either of such indentures or the Agreements. Section 310(b) of the Act provides in 19B0 involved the issuance of various series of unsecured and unsubordinated Notes. Said indentures were filed as respectively, Exhibits 4(a), 2(b) and 2(a) to Applicant's respective Registration Statements Nos. 2-42915, 2-58355, 259396 and 2.-64862 filed under the Securities Act of 1933, and have been qualified under the Trust Indenture Act of 1939. Said four indentures are hereinafter called the Indentures and the securities issued pursuant to the Indentures are hereinafter called the Notes. (2) The Applicant is not in default in uny respect under the Indentures or under any other existing indenture. (3) On April 21,1986, the Trust Company entered into a Pooling and Servicing Agreement dated as of April 1, 1986 [the 'T906-D Agreement") with Citibank, N.A.. Originator and Servicer, and Citicorp Homeowners, Inc., under which there were issued on April 21. 1986 Mortgage Pass-Through administered by the American part that if a trustee under an indenture Certificates. Series 1986-D 10.0096 Pass- Arbitration Association ("AAA"). That qualified under the Act or shall acquire Through Rale (the "Series 1986-D , approval remains in effect. Bny conflicting interest it shall within Certificates"), which evidence fractional The sponsors of the AAA/1FEBP ninety days after ascertaining that it has Multiemployer Arbitration Rules now such a conflicting interest, either propose.to amend those rules, effective eliminate the conflicting interest or September 1.1986, in order to eliminate resign as trustee. Subsection (1) of certain procedural differences from the section 310(b) provides, with certain rules in the PBGC's arbitration exceptions, that a trustee under a regulation and to reflect the AAA's five qualified indenture shall be deemed to years' experience in administering have a conflicting interest if such trustee multiemployer plan withdrawal liability is trustee under another indenture under arbitration. . which securities of an obligor upon the This notice advises employers, plan sponsors of multicmploycr pension plans and other interested parties that indenture securities are outstanding. However, under clause (ii) of subsection (1), there may be excluded from the operation of the subsection another the PBCC has, at the request of the . indenture under which other securities International Foundation and the AAA, of the same obligor are outstanding, if reviewed the proposed amendments and - the issuer shall have sustained the . has determined that the revised rules burden of proving, on application to the will continue to satisfy the criteria for Commission and after opportunity for approval set forth in 29 CFR 2641.13(c). hearing thereon, that trusteeship under Accordingly, the PBGC hereby approves both the qualified indenture and such the AAA/IFEBP Multiemployer Pension ' other indenture is not.to likely to involve Plan Arbitration RuleB, as revised a material conflict of interest as to make effective September 1.1986. This it necessary in the public interest or for undivided interests in a pool of conventional one-to-four-family mortgage loans (the "1986-D Mortgage Pool") originated and serviced by Citibank. N.A. and having adjusted principal balances aggregating $98,727,176.12 at the close of business on April 1,1988, which mortgage loans were assigned to the Trust Company as Trustee simultaneously with the issuance of the Series 1986-D Certificates. On April 21,1988, Applicant, the parent of Citibank, N.A., entered into a guaranty of even date (the "1986-D Guaranty") pursuant to which applicant agreed, for the benefit of the holders of the Series 1986-D Certificates, to be liable for 0.00% of the initial aggregate principal balance of the*1986-D Mortgage Pool and for lesser. amounts in later years pursuant to the provisions of the 1988-D Guaranty. The 1986-D Guaranty stated that Applicant's obligations, thereunder rank pari passu . approval is effective June 20,1986 and the protection of investors to disqualify with all unsecured and unsubordinated will remain effective until revoked by such trustee from acting as trustee under indebtedness of Applicant, and the PBCC through a Federal Register one of such indentures. accordingly, if enforced against notice: The Applicant alleges that: (1) The Applicant, the 1986-D Guaranty would Issued.al Washington. DC, this 10th day of June 1686. Kathleen P. Utgoff. Executive Director. Pension Benefit Guaranty Corporation. (FR Doc. 88-139B3 Filed 6-19-R8; 8:45 am) Trust Company currently is acting as Trustee under four indentures in .which the Applicant is the obligor. The indenture dated as of February 15,1972 involved the issuance of Floating Rate Notes due 1989, the indenture dated as . of March 15.1977 involved the issuance rank on a parity with the obligations evidenced by the Notes. The Series 1986-D Certificates were registered under the Securities Act of 1933 (Registration Statement on Forms S-ll and S-3, File No. 33-780) as part of a delayed or continuous offering of BIlUNO COOe 7?o#-ci-u of vurious series of unsecured and $1,600,000,000 aggregate amount of GLEASON-000851