Determination of the 2007 Fiscal Year Interest Rate on Rural Telephone Bank Loans, 10220-10221 [E8-3561]

Download as PDF 10220 Notices Federal Register Vol. 73, No. 38 Tuesday, February 26, 2008 This section of the FEDERAL REGISTER contains documents other than rules or proposed rules that are applicable to the public. Notices of hearings and investigations, committee meetings, agency decisions and rulings, delegations of authority, filing of petitions and applications and agency statements of organization and functions are examples of documents appearing in this section. DEPARTMENT OF AGRICULTURE National Agricultural Statistics Service Notice of Intent To Seek Approval To Revise and Extend an Information Collection National Agricultural Statistics Service, USDA. ACTION: Notice and request for comments. AGENCY: In accordance with the Paperwork Reduction Act of 1995, this notice announces the intention of the National Agricultural Statistics Service (NASS) to request revision and extension of a currently approved information collection, the Field Crops Objective Yield Surveys. Revision to burden hours may be needed due to changes in the size of the target population, sampling design, and/or questionnaire length. DATES: Comments on this notice must be received by April 28, 2008 to be assured of consideration. ADDRESSES: You may submit comments, identified by docket number 0535–0088, by any of the following methods: • E-mail: ombofficer@nass.usda.gov. Include docket number above in the subject line of the message. • Fax: (202) 720–06396. • Mail: Mail any paper, disk, or CD– ROM submissions to: NASS Clearance Officer, U.S. Department of Agriculture, Room 5336A, Mail Stop 2024, South Building, 1400 Independence Avenue, SW., Washington, DC 20250–2024. • Hand Delivery/Courier: Hand deliver to: NASS Clearance Officer, U.S. Department of Agriculture, Room 5336A, South Building, 1400 Independence Avenue, SW., Washington, DC 20250–2024. FOR FURTHER INFORMATION CONTACT: Joseph T. Reilly, Associate Administrator, National Agricultural Statistics Service, U.S. Department of Agriculture, (202) 720–4333. mstockstill on PROD1PC66 with NOTICES SUMMARY: VerDate Aug<31>2005 19:29 Feb 25, 2008 Jkt 214001 SUPPLEMENTARY INFORMATION: Title: Field Crops Objective Yield. OMB Control Number: 0535–0088. Expiration Date of Approval: November 30, 2008. Type of Request: Intent to Request Approval to Revise and Extend an Information Collection. Abstract: The primary objective of the National Agricultural Statistics Service is to prepare and issue State and national estimates of crop and livestock production, prices, and disposition. The Field Crops Objective Yield Surveys objectively predict yields for corn, cotton, potatoes, soybeans, and wheat. Sample fields are randomly selected for these crops, plots are laid out, and periodic counts and measurements are taken and then used to forecast production during the growing season. Production forecasts are published in USDA Crop Production reports. The Field Crops Objective Yield Surveys have approval from OMB for a 3-year period; NASS intends to request that the surveys be approved for another 3 years. Authority: These data will be collected under the authority of 7 U.S.C. 2204(a). Individually identifiable data collected under this authority are governed by Section 1770 of the Food Security Act of 1985, 7 U.S.C. 2276, which requires USDA to afford strict confidentiality to non-aggregated data provided by respondents. This Notice is submitted in accordance with the Paperwork Reduction Act of 1995 (Pub. L. 104–113) and Office of Management and Budget regulations at 5 CFR part 1320 (60 FR 44978, August 29, 1995). Estimate of Burden: Public reporting burden for this collection of information is estimated to average 24 minutes. Respondents: Farmers, ranchers, or farm managers. Estimated Number of Respondents: 8,555. Estimated Total Annual Burden on Respondents: 3,422 hours. Copies of this information collection and related instructions can be obtained without charge from NASS Clearance Officer, at (202) 720–2248. Comments: Comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information including the validity of the methodology and assumptions used; PO 00000 Frm 00001 Fmt 4703 Sfmt 4703 (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. All responses to this notice will become a matter of public record and be summarized in the request for OMB approval. Signed at Washington, DC, February 8, 2008. Joseph T. Reilly, Associate Administrator. [FR Doc. 08–840 Filed 2–25–08; 8:45 am] BILLING CODE 3410–20–M DEPARTMENT OF AGRICULTURE Rural Telephone Bank Determination of the 2007 Fiscal Year Interest Rate on Rural Telephone Bank Loans Rural Telephone Bank, USDA. Notice of 2007 fiscal year interest rate determination. AGENCY: ACTION: SUMMARY: In accordance with 7 CFR 1610.10, the Rural Telephone Bank (Bank) cost of money rate has been established as 5.84% for all advances made during fiscal year 2007 (the period beginning October 1, 2006 and ending September 30, 2007). All advances made during fiscal year 2007 were under Bank loans approved on or after October 1, 1992. These loans are sometimes referred to as financing account loans. The methodology required to calculate the cost of money rate is established in 7 CFR 1610.10(c). Because of the dissolution of the Bank, the only remaining component of the calculation of the Bank’s cost of money rate for fiscal year 2007 is the rate paid by the Bank to the Treasury to borrower the funds advanced under financing account loans. Since the rate paid to the Treasury is greater than or equal to the minimum rate (5.00%) allowed under 7 U.S.C. 948(b)(3)(A), the cost of money rate is set at 5.84%. FOR FURTHER INFORMATION CONTACT: Jonathan P. Claffey, Deputy Assistant Governor, Rural Telephone Bank, STOP 1590—Room 5151, 1400 Independence E:\FR\FM\26FEN1.SGM 26FEN1 Federal Register / Vol. 73, No. 38 / Tuesday, February 26, 2008 / Notices Avenue, SW., Washington, DC 20250– 1590. Telephone: (202) 720–9556. SUPPLEMENTARY INFORMATION: The cost of money rate methodology develops a weighted average rate for the Bank’s cost of money considering total fiscal year loan advances, debentures and other obligations, and the costs to the Bank of obtaining funds from these sources. Because of the dissolution of the Bank, which was discussed at greater length in the Notice of 2006 fiscal year interest rate determination published November 30, 2006 (See 71 FR 69200), the only component described in 7 CFR 1610.10(c) that is still relevant to the determination of the Bank’s cost of money interest rate is the rate paid on the issuance of debentures and other obligations [see 7 CFR 1610.10(c)(4)]. The table that has been attached to this notice in prior years will no longer be provided since the only calculation necessary to determine the interest rate for advances is the comparison of the interest rate on Treasury borrowings to the statutory minimum rate. mstockstill on PROD1PC66 with NOTICES Progress of Dissolution of the Bank At its quarterly meeting on August 4, 2005, the Board of Directors (the ‘‘Board’’) approved a resolution to dissolve the Bank. On November 10, 2005, the liquidation and dissolution process was initiated with the signing by President Bush of the 2006 Agriculture Appropriations bill, which contained a provision lifting the restriction on the retirement of more than 5 percent of the Class A stock held by the Government. This paved the way for all Bank stock to be redeemed. The dissolution process is now largely complete. The Government’s Class A stock was redeemed on April 10, 2006; redemption payments to Class B and C shareholders began on April 11, 2006 and were completed by September 30, 2006. The final liquidation payments were made to Class A and B shareholders at the time of liquidation on November 13, 2007. The only action still to be taken is the completion of a final audit. Sources and Costs of Funds Due to the dissolution of the Bank, the only remaining source of funds is the borrowings from the Treasury, which are categorized as issuance of debentures or other obligations in accordance with the regulations pertaining to the setting of the interest rate for advances on Bank loans (7 CFR 1610.10(c)(4)). For fiscal year 2007, Treasury borrowings related to advances were $53,534,679 at an interest rate of 5.84%. Since this rate exceeds the minimum statutory rate of 5.00% for VerDate Aug<31>2005 19:29 Feb 25, 2008 Jkt 214001 Bank loans, the Bank’s cost of money rate for fiscal year 2007 advances is set at 5.84%. James M. Andrew, Governor, Rural Telephone Bank. [FR Doc. E8–3561 Filed 2–25–08; 8:45 am] BILLING CODE 3410–15–P DEPARTMENT OF COMMERCE International Trade Administration [A–570–930] Circular Welded Austenitic Stainless Pressure Pipe from the People’s Republic of China: Initiation of Antidumping Duty Investigation Import Administration, International Trade Administration, Department of Commerce. EFFECTIVE DATE: February 26, 2008. FOR FURTHER INFORMATION CONTACT: Melissa Blackledge, AD/CVD Operations, Office 4, Import Administration, International Trade Administration, U.S. Department of Commerce, 14th Street and Constitution Avenue, NW, Washington, DC 20230; telephone: (202) 482–3518. SUPPLEMENTARY INFORMATION: AGENCY: The Petition On January 30, 2008, the Department of Commerce (‘‘Department’’) received a petition concerning imports of circular welded austenitic stainless pressure pipe from the People’s Republic of China (‘‘PRC’’) filed in proper form by Bristol Metals, L.P., Felker Brothers Corp., Marcegaglia USA Inc., Outokumpu Stainless Pipe, Inc. and United Steel Workers of America (collectively ‘‘Petitioners’’). See Petition on Welded Stainless Pressure Pipe from the People’s Republic of China, dated January 30, 2008 (‘‘Petition’’). In February 2008, the Department issued multiple requests for additional information, seeking clarification of certain areas of the Petition. Based on the Department’s requests, Petitioners filed additional information on February 5 through February 13, 2008. In accordance with section 732(b) of the Tariff Act of 1930, as amended (‘‘Act’’), Petitioners allege that imports of circular welded austenitic stainless pressure pipe from the PRC are being, or are likely to be, sold in the United States at less than fair value, within the meaning of section 731 of the Act, and that such imports are materially injuring, or threaten material injury to, an industry in the United States. The Department finds that Petitioners filed this Petition on behalf of the PO 00000 Frm 00002 Fmt 4703 Sfmt 4703 10221 domestic industry because Petitioners are interested parties as defined in section 771(9)(C) and (D) of the Act, and have demonstrated sufficient industry support with respect to the antidumping duty investigation that Petitioners are requesting the Department initiate (see ‘‘Determination of Industry Support for the Petition’’ section below). Period of Investigation The period of investigation (‘‘POI’’) is July 1 through December 31, 2007. See 19 CFR 351.204(b). Scope of Investigation The merchandise covered by this investigation is circular welded austenitic stainless pressure pipe (‘‘CWASPP’’) not greater than 14 inches in outside diameter. This merchandise includes, but is not limited to, the American Society for Testing and Materials (‘‘ASTM’’) A–312 or ASTM A–778 specifications, or comparable domestic or foreign specifications. ASTM A–358 products are only included when they are produced to meet ASTM A–312 or ASTM A–778 specifications, or comparable domestic or foreign specifications. Excluded from the scope are: (1) welded stainless mechanical tubing, meeting ASTM A–554 or comparable domestic or foreign specifications; (2) boiler, heat exchanger, superheater, refining furnace, feedwater heater, and condenser tubing, meeting ASTM A– 249, ASTM A–688 or comparable domestic or foreign specifications; and (3) specialized tubing, meeting ASTM A–269, ASTM A–270 or comparable domestic or foreign specifications. The subject imports are normally classified in subheadings 7306.40.5005, 7306.40.5040, 7306.40.5062, 7306.40.5064, and 7306.40.5085 of the Harmonized Tariff Schedule of the United States (‘‘HTSUS’’). They may also enter under HTSUS subheadings 7306.40.1010, 7306.40.1015, 7306.40.5042, 7306.40.5044, 7306.40.5080, and 7306.40.5090. The HTSUS subheadings are provided for convenience and customs purposes only; the written description of the scope of this investigation is dispositive. Comments on Scope of Investigation During our review of the Petition, we discussed the scope with Petitioners to ensure that it is an accurate reflection of the products for which the domestic industry is seeking relief. Moreover, as discussed in the preamble to the regulations (Antidumping Duties; Countervailing Duties; Final Rule, 62 FR 27296, 27323 (May 19, 1997)), we are setting aside a period for interested E:\FR\FM\26FEN1.SGM 26FEN1

Agencies

[Federal Register Volume 73, Number 38 (Tuesday, February 26, 2008)]
[Notices]
[Pages 10220-10221]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-3561]


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DEPARTMENT OF AGRICULTURE

Rural Telephone Bank


Determination of the 2007 Fiscal Year Interest Rate on Rural 
Telephone Bank Loans

AGENCY: Rural Telephone Bank, USDA.

ACTION: Notice of 2007 fiscal year interest rate determination.

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SUMMARY: In accordance with 7 CFR 1610.10, the Rural Telephone Bank 
(Bank) cost of money rate has been established as 5.84% for all 
advances made during fiscal year 2007 (the period beginning October 1, 
2006 and ending September 30, 2007). All advances made during fiscal 
year 2007 were under Bank loans approved on or after October 1, 1992. 
These loans are sometimes referred to as financing account loans.
    The methodology required to calculate the cost of money rate is 
established in 7 CFR 1610.10(c). Because of the dissolution of the 
Bank, the only remaining component of the calculation of the Bank's 
cost of money rate for fiscal year 2007 is the rate paid by the Bank to 
the Treasury to borrower the funds advanced under financing account 
loans. Since the rate paid to the Treasury is greater than or equal to 
the minimum rate (5.00%) allowed under 7 U.S.C. 948(b)(3)(A), the cost 
of money rate is set at 5.84%.

FOR FURTHER INFORMATION CONTACT: Jonathan P. Claffey, Deputy Assistant 
Governor, Rural Telephone Bank, STOP 1590--Room 5151, 1400 Independence

[[Page 10221]]

Avenue, SW., Washington, DC 20250-1590. Telephone: (202) 720-9556.

SUPPLEMENTARY INFORMATION: The cost of money rate methodology develops 
a weighted average rate for the Bank's cost of money considering total 
fiscal year loan advances, debentures and other obligations, and the 
costs to the Bank of obtaining funds from these sources. Because of the 
dissolution of the Bank, which was discussed at greater length in the 
Notice of 2006 fiscal year interest rate determination published 
November 30, 2006 (See 71 FR 69200), the only component described in 7 
CFR 1610.10(c) that is still relevant to the determination of the 
Bank's cost of money interest rate is the rate paid on the issuance of 
debentures and other obligations [see 7 CFR 1610.10(c)(4)]. The table 
that has been attached to this notice in prior years will no longer be 
provided since the only calculation necessary to determine the interest 
rate for advances is the comparison of the interest rate on Treasury 
borrowings to the statutory minimum rate.

Progress of Dissolution of the Bank

    At its quarterly meeting on August 4, 2005, the Board of Directors 
(the ``Board'') approved a resolution to dissolve the Bank. On November 
10, 2005, the liquidation and dissolution process was initiated with 
the signing by President Bush of the 2006 Agriculture Appropriations 
bill, which contained a provision lifting the restriction on the 
retirement of more than 5 percent of the Class A stock held by the 
Government. This paved the way for all Bank stock to be redeemed.
    The dissolution process is now largely complete. The Government's 
Class A stock was redeemed on April 10, 2006; redemption payments to 
Class B and C shareholders began on April 11, 2006 and were completed 
by September 30, 2006. The final liquidation payments were made to 
Class A and B shareholders at the time of liquidation on November 13, 
2007. The only action still to be taken is the completion of a final 
audit.

Sources and Costs of Funds

    Due to the dissolution of the Bank, the only remaining source of 
funds is the borrowings from the Treasury, which are categorized as 
issuance of debentures or other obligations in accordance with the 
regulations pertaining to the setting of the interest rate for advances 
on Bank loans (7 CFR 1610.10(c)(4)). For fiscal year 2007, Treasury 
borrowings related to advances were $53,534,679 at an interest rate of 
5.84%. Since this rate exceeds the minimum statutory rate of 5.00% for 
Bank loans, the Bank's cost of money rate for fiscal year 2007 advances 
is set at 5.84%.

James M. Andrew,
Governor, Rural Telephone Bank.
[FR Doc. E8-3561 Filed 2-25-08; 8:45 am]
BILLING CODE 3410-15-P