part_subject: "CONTROL OF EMISSIONS FROM NEW HEAVY-DUTY MOTOR VEHICLES"
subpart_code: "H"
subpart_subject: "Averaging, Banking, and Trading for Certification"
section_number: "1037.715"
section_subject: "Banking."
cfr_reference: "40 CFR 1037.715"
title_name: "Title 40"
title_subject: "Protection of Environment"
parts_covered: "Parts 1000 to 1059"
revised_date: "Revised as of July 1, 2017"
publication_date: "As of July 1, 2017"
contains_description: "Containing a codification of documents of general applicability and future effect"
publication_info: "Published by the Office of the Federal Register National Archives and Records Administration as a Special Edition of the Federal Register"
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(a)Banking is the retention of surplus emission credits by the manufacturer generating the emission credits for use in future model years for averaging or trading. Note that § 1037.107 does not allow banking for trailers.
(b)You may designate any emission credits you plan to bank in the reports you submit under § 1037.730 as reserved credits. During the model year and before the due date for the final report, you may designate your reserved emission credits for averaging or trading.
(c)Reserved credits become actual emission credits when you submit your final report. However, we may revoke these emission credits if we are unable to verify them after reviewing your reports or auditing your records.
(d)Banked credits retain the designation of the averaging set in which they were generated.