40 CFR 91.1302 - Definitions.
The definitions in subpart A of this part apply to this subpart. The following definitions shall also apply to this subpart:
Banking means the retention of marine engine in-use emission credits by the manufacturer generating the emission credits for use in future model year averaging or trading as permitted by these regulations.
Emission credits or in-use credits represent the amount of emission reduction or exceedance, for each regulated pollutant, by a marine engine family below or above, respectively, the applicable certification family emission limit (FEL) to which the engine family is certified. Emission reductions below the FEL are considered “positive credits,” while emission exceedances above the FEL are considered “negative or required credits.”
Banked credits refer to positive emission credits based on actual applicable production/sales volume as contained in the end of model year in-use testing reports submitted to EPA. Some or all of these banked credits may be revoked if EPA review of the end of model year in-use testing reports or any subsequent audit action(s) uncovers problems or errors.
Trading means the exchange of marine SI engine in-use emission credits between manufacturers and/or brokers.