CommunityExpress Pilot Program, 56962 [05-19442]

Download as PDF 56962 Federal Register / Vol. 70, No. 188 / Thursday, September 29, 2005 / Notices market. The Commission further notes that eligible, round-lot market and limit orders would be eligible to be automatically matched against other eligible orders at the opening price, without the participation of the Directed Specialist. The Commission believes that the proposal, by providing the proposed matching feature for eligible customer orders, appears to be reasonably designed to increase the automated handling of customer orders at the opening and reduce the risk of specialists trading ahead of customer orders. The Commission notes that the Exchange has represented that the proposal excludes order types involving odd-lots (odd-lot orders, partial roundlot all-or-none orders, and the odd-lot portion of partial round-lot eligible orders) from the proposed matching feature because such orders could otherwise match against round-lot orders, thereby generating a succession of additional odd-lots and transaction receipts, which would impose an undue transaction cost burden on firms entering round-lot orders. The Commission also notes that the Exchange has represented that all-ornone orders are not eligible for the proposed matching feature when a single contra-side order with sufficient volume is not available in order that, in keeping with the terms of all-or-none orders, such orders may be filled through a single execution. The Commission notes that the Directed Specialist would be obligated to execute all orders that are eligible for an automatic execution guarantee but that are ineligible for the proposed matching feature. The Commission also notes that the Directed Specialist is responsible for providing executions for any imbalance of orders that result from the matching feature. The Commission believes that the proposal appears to be reasonably designed to ensure the execution of orders entitled to an automatic execution guarantee, address the concerns of the Exchange’s customers, and promote efficient executions. IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,12 that the proposed rule change (SR–Phlx–2005– 14), as amended, be, and it hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Jonathan G. Katz, Secretary. [FR Doc. 05–19496 Filed 9–28–05; 8:45 am] BILLING CODE 8010–01–P SMALL BUSINESS ADMINISTRATION Data Collection Available for Public Comments and Recommendations Notice and request for comments. ACTION: SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this notice announces the Small Business Administration’s intention to request approval on a new and/or currently approved information collection. DATES: Submit comments on or before November 28, 2005. ADDRESSES: Send all comments regarding whether these information collections are necessary for the proper performance of the function of the agency, whether the burden estimates are accurate, and if there are ways to minimize the estimated burden and enhance the quality of the collections, to Carmen-Rosa Torres, Director, Office of Analysis, Planning, and Accountability, Small Business Administration, 409 3rd Street SW., Suite 6000, Washington, DC 20416. FOR FURTHER INFORMATION CONTACT: Carmen-Rosa Torres, Director, 202–205– 6112 Carmenrosa.torres@sba.gov Curtis B. Rich, Management Analyst, 202–205– 7030 curtis.rich@sba.sba. SUPPLEMENTARY INFORMATION: Title: ‘‘Lender Survey’’. Description of Respondents: This survey will be administered to representatives of lenders that originate small business loans. Form No: N/A. Annual Responses: 75. Annual Burden: 37.5. Title: ‘‘Assisted Business Survey’’. Description of Respondents: This survey will be administered to a random sample of businesses assisted under various SBA programs. Form No: N/A. Annual Responses: 3,000. Annual Burden: 1,000. Jacqueline White, Chief, Administrative Information Branch. [FR Doc. 05–19513 Filed 9–28–05; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION CommunityExpress Pilot Program U.S. Small Business Administration (SBA). ACTION: Notice of Pilot Program extension. AGENCY: SUMMARY: This notice announces the extension of SBA’s CommunityExpress Pilot Program until November 30, 2005. This extension will allow time for SBA to complete its decisionmaking regarding potential modifications and enhancements to the Program. DATES: The CommunityExpress Pilot Program is extended under this notice until November 30, 2005. FOR FURTHER INFORMATION CONTACT: Charles Thomas, Office of Financial Assistance, U.S. Small Business Administration, 409 Third Street, Washington, DC 20416; Telephone (202) 205–6490; charles.thomas@sba.gov. SUPPLEMENTARY INFORMATION: The CommunityExpress Pilot Program was established in 1999 as a subprogram of the Agency’s SBAExpress Pilot Program. Lenders approved for participation in CommunityExpress are authorized to use the expedited loan processing procedures in place for the SBAExpress Pilot Program, but the loans approved under this Program must be to distressed or underserved markets. To encourage lenders to make these loans, SBA provides its standard 75–85 percent guaranty, which contrasts to the 50 percent guaranty the Agency provides under SBAExpress. However, under CommunityExpress, participating lenders must arrange and, when necessary, pay for appropriate technical assistance for any borrowers under the program. Maximum loan amounts under this Program are limited to $250,000. The extension of this Program until November 30, 2005, will allow SBA to more fully evaluate the results and impact of the Program and to consider possible changes and enhancements to the Program. It will also allow SBA to further consult with its lending partners and the small business community about the Program. (Authority: 13 CFR 120.3) Michael W. Hager, Associate Deputy Administrator. [FR Doc. 05–19442 Filed 9–28–05; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Export Express Pilot Program U.S. Small Business Administration (SBA). AGENCY: 12 15 U.S.C. 78s(b)(2). VerDate Aug<31>2005 13:52 Sep 28, 2005 13 17 Jkt 205001 PO 00000 CFR 200.30–3(a)(12). Frm 00077 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1

Agencies

SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 70, Number 188 (Thursday, September 29, 2005)]
[Notices]
[Page 56962]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-19442]


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SMALL BUSINESS ADMINISTRATION


CommunityExpress Pilot Program

AGENCY: U.S. Small Business Administration (SBA).

ACTION: Notice of Pilot Program extension.

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SUMMARY: This notice announces the extension of SBA's CommunityExpress 
Pilot Program until November 30, 2005. This extension will allow time 
for SBA to complete its decisionmaking regarding potential 
modifications and enhancements to the Program.

DATES: The CommunityExpress Pilot Program is extended under this notice 
until November 30, 2005.

FOR FURTHER INFORMATION CONTACT: Charles Thomas, Office of Financial 
Assistance, U.S. Small Business Administration, 409 Third Street, 
Washington, DC 20416; Telephone (202) 205-6490; charles.thomas@sba.gov.

SUPPLEMENTARY INFORMATION: The CommunityExpress Pilot Program was 
established in 1999 as a subprogram of the Agency's SBAExpress Pilot 
Program. Lenders approved for participation in CommunityExpress are 
authorized to use the expedited loan processing procedures in place for 
the SBAExpress Pilot Program, but the loans approved under this Program 
must be to distressed or underserved markets. To encourage lenders to 
make these loans, SBA provides its standard 75-85 percent guaranty, 
which contrasts to the 50 percent guaranty the Agency provides under 
SBAExpress. However, under CommunityExpress, participating lenders must 
arrange and, when necessary, pay for appropriate technical assistance 
for any borrowers under the program. Maximum loan amounts under this 
Program are limited to $250,000.
    The extension of this Program until November 30, 2005, will allow 
SBA to more fully evaluate the results and impact of the Program and to 
consider possible changes and enhancements to the Program. It will also 
allow SBA to further consult with its lending partners and the small 
business community about the Program.

(Authority: 13 CFR 120.3)

Michael W. Hager,
Associate Deputy Administrator.
[FR Doc. 05-19442 Filed 9-28-05; 8:45 am]
BILLING CODE 8025-01-P

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