Narrative:

Switched frequencys while climbing out to 17000 ft. While climbing through approximately 16200 ft, ATC on new frequency told us to slow to 250 KTS but gave us no further climb clearance. I set the speed for the captain who was hand flying, then looked away from the MCP to perform another task. Glanced back at instruments and noticed we were climbing rapidly through 16900 ft. Called 'there's 17000 ft.' captain pulled off power and started to arrest climb. We reached 17900 ft before descending back down to 17000 ft. Descending through 17700 ft, ATC called and told us to descend to 17000 ft. I replied, 'leveling 17000 ft.' factors involved in this altitude excursion: 1) expectation was for a climb above 17000 ft, not a speed reduction. 2) captain used a climb to bleed off airspeed, having forgotten that we were supposed to level at 17000 ft. 3) I looked away as he began to exchange altitude for airspeed, so I did not see the excessive rate of climb until 16900 ft. Supplemental information from acn 398748: I was hand flying and approximately 310 KTS. I raised the nose of the airplane and pulled the throttles to idle to attain 250 KTS, forgetting about the 17000 ft restr. A momentary distraction from one clearance to another clearance was a contributing factor in the incident.

Related reports:

Google
 

Original NASA ASRS Text

Title: A B767-200 CLBS 900 FT ABOVE ASSIGNED ALT WHEN FLT IS GIVEN A SPD RESTR WITHOUT ANY ALT CHANGE.

Narrative: SWITCHED FREQS WHILE CLBING OUT TO 17000 FT. WHILE CLBING THROUGH APPROX 16200 FT, ATC ON NEW FREQ TOLD US TO SLOW TO 250 KTS BUT GAVE US NO FURTHER CLB CLRNC. I SET THE SPD FOR THE CAPT WHO WAS HAND FLYING, THEN LOOKED AWAY FROM THE MCP TO PERFORM ANOTHER TASK. GLANCED BACK AT INSTS AND NOTICED WE WERE CLBING RAPIDLY THROUGH 16900 FT. CALLED 'THERE'S 17000 FT.' CAPT PULLED OFF PWR AND STARTED TO ARREST CLB. WE REACHED 17900 FT BEFORE DSNDING BACK DOWN TO 17000 FT. DSNDING THROUGH 17700 FT, ATC CALLED AND TOLD US TO DSND TO 17000 FT. I REPLIED, 'LEVELING 17000 FT.' FACTORS INVOLVED IN THIS ALT EXCURSION: 1) EXPECTATION WAS FOR A CLB ABOVE 17000 FT, NOT A SPD REDUCTION. 2) CAPT USED A CLB TO BLEED OFF AIRSPD, HAVING FORGOTTEN THAT WE WERE SUPPOSED TO LEVEL AT 17000 FT. 3) I LOOKED AWAY AS HE BEGAN TO EXCHANGE ALT FOR AIRSPD, SO I DID NOT SEE THE EXCESSIVE RATE OF CLB UNTIL 16900 FT. SUPPLEMENTAL INFO FROM ACN 398748: I WAS HAND FLYING AND APPROX 310 KTS. I RAISED THE NOSE OF THE AIRPLANE AND PULLED THE THROTTLES TO IDLE TO ATTAIN 250 KTS, FORGETTING ABOUT THE 17000 FT RESTR. A MOMENTARY DISTR FROM ONE CLRNC TO ANOTHER CLRNC WAS A CONTRIBUTING FACTOR IN THE INCIDENT.

Data retrieved from NASA's ASRS site as of July 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.