Solicitation of Input from Stakeholders on Revised Fees for the Export Credit Guarantee (GSM-102) Program, 48014-48016 [E9-22661]
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48014
Federal Register / Vol. 74, No. 181 / Monday, September 21, 2009 / Proposed Rules
srobinson on DSKHWCL6B1PROD with PROPOSALS
Based on our review, we have
determined that lemons are a
conditional non-host for Medfly,
meaning that while Medfly generally
does not infest lemons, it will do so
under certain conditions. For example,
green lemons are not hosts of Medfly,
but as they mature they become more
susceptible to infestation. It is likely
that light yellow lemons are not at a
maturity stage where they would be
susceptible to Medfly; only damaged or
dark yellow, overly mature fruit are
considered suitable hosts.
Resistance of lemons to Medfly
infestation is causally linked to the
thickness, toughness, and chemical
toxicity of the lemon rind. The female
Medfly ovipositor normally cannot
pierce through the lemon rind to lay
eggs in the toxin-free pulp, and if it
does, the eggs laid within the rind are
killed by the toxic compounds.
However, if the rind is thin or damaged,
or existing oviposition puncture holes
are present, females can exploit these
vulnerable points by ovipositing into
the pulp, where Medfly eggs and larvae
are more likely to survive and develop.
A high Medfly population also increases
the likelihood of lemon infestation due
to repeated ovipositing by females into
existing oviposition holes in the rind.
These findings indicate the need to
designate all varieties of yellow lemons
as regulated articles for Medfly in our
domestic fruit fly quarantine regulations
in order to prevent the spread of Medfly
to uninfested areas of the United States.
We are therefore proposing to amend
the entry for lemons in the table of
regulated articles in § 301.32–2(a) by
removing the exemption for smoothskinned lemons harvested for packing
by commercial packinghouses, and
instead indicating that all varieties of
yellow lemons are regulated articles for
Medfly.
We are also proposing to amend the
phytosanitary treatments regulations in
7 CFR part 305 by updating the table in
§ 305.2(h)(2)(ii), which includes
approved treatments for regulated
articles moved interstate from areas
quarantined for fruit flies, to correct two
outdated references to the former
locations of specific provisions of the
fruit fly regulations.
Executive Order 12866 and Regulatory
Flexibility Act
This proposed rule is subject to
Executive Order 12866. However, for
this action, the Office of Management
and Budget has waived its review under
Executive Order 12866.
We have prepared an economic
analysis for this proposed rule. As
described in the economic analysis, the
VerDate Nov<24>2008
18:23 Sep 18, 2009
Jkt 217001
majority of producers, importers, and
merchants that may be affected by the
proposed rule are small entities. No
commercial lemon producers are
located in the area currently
quarantined for Medfly. The number of
producers that may be affected in the
future is not known, since we do not
have data on production of smoothskinned lemons harvested for packing
by commercial packinghouses.
Nonetheless, the costs of pre-harvest or
post-harvest treatments of smoothskinned lemons that would be required
by this rule are negligible. Under these
circumstances, the Administrator of the
Animal and Plant Health Inspection
Service has determined that this action
would not have a significant economic
impact on a substantial number of small
entities.
The full economic analysis may be
viewed on the Regulations.gov Web site
or in our reading room. (Instructions for
accessing Regulations.gov and
information on the location and hours of
the reading room are provided under the
heading ADDRESSES at the beginning of
this proposed rule.) In addition, copies
may be obtained by calling or writing to
the individual listed under FOR FURTHER
INFORMATION CONTACT.
Executive Order 12372
This program/activity is listed in the
Catalog of Federal Domestic Assistance
under No. 10.025 and is subject to
Executive Order 12372, which requires
intergovernmental consultation with
State and local officials. (See 7 CFR part
3015, subpart V.)
Executive Order 12988
This proposed rule has been reviewed
under Executive Order 12988, Civil
Justice Reform. If this proposed rule is
adopted: (1) All State and local laws and
regulations that are inconsistent with
this rule will be preempted; (2) no
retroactive effect will be given to this
rule; and (3) administrative proceedings
will not be required before parties may
file suit in court challenging this rule.
7 CFR Part 305
Irradiation, Phytosanitary treatment,
Plant diseases and pests, Quarantine,
Reporting and recordkeeping
requirements.
Accordingly, we propose to amend 7
CFR parts 301 and 305 as follows:
PART 301—DOMESTIC QUARANTINE
NOTICES
1. The authority citation for part 301
continues to read as follows:
Authority: 7 U.S.C. 7701–7772 and 7781–
7786; 7 CFR 2.22, 2.80, and 371.3.
Section 301.75–15 issued under Sec. 204,
Title II, Public Law 106–113, 113 Stat.
1501A–293; sections 301.75–15 and 301.75–
16 issued under Sec. 203, Title II, Public Law
106–224, 114 Stat. 400 (7 U.S.C. 1421 note).
§ 301.32–2
[Amended]
2. In § 301.32–2, paragraph (a),
footnote 2 to the table is amended by
removing the words ‘‘Smooth-skinned
lemons harvested for packing by
commercial packinghouses are not’’ and
adding the words ‘‘Only yellow lemons
are’’ in their place.
PART 305—PHYTOSANITARY
TREATMENTS
3. The authority citation for part 305
continues to read as follows:
Authority: 7 U.S.C. 7701–7772 and 7781–
7786; 21 U.S.C. 136 and 136a; 7 CFR 2.22,
2.80, and 371.3.
§ 305.2
[Amended]
4. In § 305.2, the table in paragraph
(h)(2)(ii) is amended by removing, from
the column titled ‘‘Commodity’’, the
citations ‘‘§ 301.78–2(a)’’ and ‘‘§ 301.99–
2(b)’’ and adding the citation ‘‘§ 301.32–
2(a)’’ in their place.
Done in Washington, DC, this 15th day of
September 2009.
Kevin Shea,
Acting Administrator, Animal and Plant
Health Inspection Service.
[FR Doc. E9–22631 Filed 9–18–09; 8:45 am]
BILLING CODE 3410–34–P
Paperwork Reduction Act
DEPARTMENT OF AGRICULTURE
This proposed rule contains no
information collection or recordkeeping
requirements under the Paperwork
Reduction Act of 1995 (44 U.S.C. 3501
et seq.).
Commodity Credit Corporation
List of Subjects
7 CFR Part 301
Agricultural commodities, Plant
diseases and pests, Quarantine,
Reporting and recordkeeping
requirements, Transportation.
PO 00000
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Fmt 4702
Sfmt 4702
7 CFR Part 1493
Solicitation of Input from Stakeholders
on Revised Fees for the Export Credit
Guarantee (GSM–102) Program
AGENCY: Foreign Agricultural Service
and Commodity Credit Corporation,
USDA.
ACTION: Notice and request for
comments.
E:\FR\FM\21SEP1.SGM
21SEP1
48015
Federal Register / Vol. 74, No. 181 / Monday, September 21, 2009 / Proposed Rules
SUMMARY: This notice solicits comments
on proposed revisions to the fee rate
schedule for the U.S. Department of
Agriculture (USDA), Commodity Credit
Corporation (CCC) Export Credit
Guarantee Program (GSM–102). The
Food, Conservation, and Energy Act of
2008 (the Act) amended certain GSM–
102 program provisions related to fees.
CCC’s goals in proposing this revised fee
structure are to create fees more
commensurate with risk, generate
additional program revenue in fiscal
year (FY) 2010 to offset program costs,
and consider allowing program
participation by riskier countries.
DATES: Comments on this notice must be
received by October 21, 2009 to be
assured of consideration.
You may submit comments
by any of the following methods:
• E-mail: gsm102fees@fas.usda.gov.
• Fax: (202) 720–2495; ‘‘Attention:
GSM–102 Fee Comments.’’
• Mail: P. Mark Rowse, Director,
Office of Trade Programs, Credit
Programs Division, Foreign Agricultural
Service, U.S. Department of Agriculture,
1400 Independence Avenue, SW., Mail
Stop 1025, Washington, DC 20250–
1025.
• Hand Delivery/Courier: 1250
Maryland Avenue, SW., Suite 420,
Washington, DC 20024.
All comments received will be
available for public inspection at the
above address during regular business
hours.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT: P.
Mark Rowse, Director, Office of Trade
Programs, Credit Programs Division,
Foreign Agricultural Service, U.S.
Department of Agriculture, 1400
Independence Avenue, SW., Mail Stop
1025, Washington, DC 20250–1025;
telephone: (202) 720–6211.
SUPPLEMENTARY INFORMATION:
Background and Purpose
The GSM–102 program is currently
authorized under the Agricultural Trade
Act of 1978, as amended. The GSM–102
program provides credit guarantees to
encourage financing of commercial
exports of U.S. agricultural products on
competitive credit terms. The CCC
currently has authorized availability of
guarantees for transactions in at least
176 countries and regions, with 2,900
exporters eligible to participate. Since
1981, CCC has issued nearly $92 billion
in credit guarantees under the GSM–102
program. Under the terms of the
guarantee, typically, 98 percent of
principal and a portion of interest are
covered on credit terms of up to 3 years.
By financing less than 100 percent of
the exported value, CCC encourages
risk-sharing by the exporter or the
exporter’s assignee.
The issuance of the guarantee is
subject to a fee paid by the applicant
(the exporter). In July 2005, USDA
initiated a risk-based fee structure. A fee
is charged based on the tenor (length of
credit period) of the guarantee and
terms for principal payment
installments, whether 6 months or
annually, and the risk grade of the
obligor country. CCC assigns a numeric
risk category (0–7, lowest to highest
risk) to each obligor country.
The Food, Conservation, and Energy
Act of 2008 (the Act) amended certain
GSM–102 program provisions related to
fees. The Act repealed the 1 percent cap
on fees. The Act also requires the
Secretary, in carrying out the GSM–102
program, to ‘‘work with the industry to
ensure, to the maximum extent
practicable, that risk-based fees
associated with the guarantees cover,
but do not exceed, the operating costs
and losses over the long-term.’’ The Act
defines the ‘‘long term’’ as ‘‘a period of
10 or more years.’’
CCC intends to revise the current fee
structure, which has been in place since
July 2005. The revised fee structure is
designed to accomplish the following
goals:
1. Create a fee structure more
commensurate with risk. The 1 percent
fee cap in effect prior to the Act resulted
in a program fee structure with
disproportionately high fees for low-risk
transactions and disproportionately low
fees for higher-risk transactions. CCC
proposes to correct this imbalance by
reducing fees for transactions with
lower risk countries and shorter tenors
and increasing fees for certain higher
risk countries and longer tenors. In
doing so, CCC is responding to many
program participants who have noted
that fees for low-risk transactions are
prohibitively expensive compared to
fees for higher-risk transactions.
2. Generate additional program
revenue in fiscal year (FY) 2010 to offset
program costs, as measured by budget
subsidy. Although budget subsidy costs
are re-estimated each fiscal year, the
Office of Management and Budget’s
most recent calculations of estimated
budget subsidy for FY 2008 and FY
2009 are 3.05 percent and 0.87 percent,
respectively. Although the initial budget
subsidy estimate for FY 2010 is ¥1.21
percent (indicating revenues are
projected to exceed costs), CCC must
offset any costs that might ultimately be
incurred in FY 2008 and FY 2009 to
meet the provisions of the Act.
3. Consider allowing program
participation by riskier countries. When
CCC implemented risk-based fees in
July 2005, the highest-risk countries
were eliminated from programming
because the 1 percent fee cap did not
permit CCC to charge fees
commensurate with the associated risk.
With the elimination of the fee cap, CCC
can now consider allowing some of
these countries to participate, charging
higher fees to offset risk. The chart
below shows the proposed fee schedule:
GSM–102 PROGRAM: PROPOSED PREMIUM PER U.S. $100 OF COVERAGE
Risk category
Tenor
0
1
2
3
4
5
6
7
$0.191
0.254
0.270
0.308
0.415
0.482
0.584
$0.297
0.394
0.417
0.469
0.617
0.712
0.855
$0.429
0.569
0.599
0.671
0.873
1.000
1.194
$0.627
0.832
0.874
0.970
1.241
1.408
1.656
$0.850
1.127
1.180
1.303
1.650
1.856
2.158
$1.116
1.480
1.544
1.694
2.115
2.353
2.695
0.033
0.067
0.048
0.096
0.070
0.141
0.095
0.191
0.125
0.250
srobinson on DSKHWCL6B1PROD with PROPOSALS
Annual Payment of Principal
9
12
15
18
24
30
36
months
months
months
months
months
months
months
........................................................................................
........................................................................................
........................................................................................
........................................................................................
........................................................................................
........................................................................................
........................................................................................
$0.087
0.116
0.125
0.148
0.212
0.249
0.302
$0.130
0.173
0.185
0.213
0.292
0.340
0.413
Semi-Annual Payment of Principal
30 days ............................................................................................
60 days ............................................................................................
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18:23 Sep 18, 2009
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0.010
0.020
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0.029
Sfmt 4702
0.021
0.043
E:\FR\FM\21SEP1.SGM
21SEP1
48016
Federal Register / Vol. 74, No. 181 / Monday, September 21, 2009 / Proposed Rules
GSM–102 PROGRAM: PROPOSED PREMIUM PER U.S. $100 OF COVERAGE—Continued
Risk category
Tenor
90
4
6
9
12
15
18
24
30
36
0
days ............................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
months ........................................................................................
For comparison purposes, the current
GSM–102 fee structure may be found at
https://www.fas.usda.gov/excredits/
gsm102fees.html.
Implementation Plans
CCC will consider stakeholder input
in determining the revised fee structure.
CCC plans to implement a revised fee
structure no later than September 30,
2009, so that any revised fees will be in
effect for the FY 2010 GSM–102
program. Review of the fee structure
will be an on-going process. CCC
intends to make future revisions as
internal and external events warrant,
including in response to budget subsidy
re-estimates, with the goal of being
responsive to comments from program
participants and meeting the
requirements of the Act.
Signed at Washington, DC, on Sept. 3,
2009.
Michael V. Michener,
Administrator, Foreign Agricultural Service,
and Vice President, Commodity Credit
Corporation.
[FR Doc. E9–22661 Filed 9–18–09; 8:45 am]
BILLING CODE 3410–10–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2009–0869; Directorate
Identifier 2009–CE–043–AD]
srobinson on DSKHWCL6B1PROD with PROPOSALS
RIN 2120–AA64
Airworthiness Directives; Vulcanair
S.p.A. Models P 68, P 68B, P 68C, P
68C–TC, and P 68 ‘‘OBSERVER’’
Airplanes
AGENCY: Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
ACTION: Notice of proposed rulemaking
(NPRM).
VerDate Nov<24>2008
18:23 Sep 18, 2009
Jkt 217001
1
0.029
0.039
0.058
0.068
0.087
0.102
0.129
0.173
0.218
0.262
2
0.044
0.058
0.087
0.102
0.130
0.150
0.184
0.240
0.299
0.358
0.064
0.086
0.128
0.149
0.191
0.219
0.266
0.343
0.424
0.506
SUMMARY: We propose to supersede
Airworthiness Directive (AD) 85–08–04,
which applies to certain Vulcanair
S.p.A. (Vulcanair) Models P 68, P 68B,
P 68C, P 68C–TC, and P 68
‘‘OBSERVER’’ airplanes. AD 85–08–04
currently requires you to repetitively
visually inspect the front and rear wing
spars for cracks. If cracks are found, AD
85–08–04 requires you to modify the
wing spars. The wing spar modification
terminates the repetitive inspection AD
action and may be installed before
cracks develop. Since we issued AD 85–
08–04, the manufacturer revised the
modification kit and identified
additional airplane serial numbers that
require the inspection and/or
modification. Consequently, this
proposed AD would retain the actions of
AD 85–08–04, allow you to install the
revised modification kit, and add
additional serial numbers to the
Applicability section. We are proposing
this AD to detect and correct cracks in
the front and rear wing spar, which
could result in the wing separating from
the airplane. This failure could lead to
loss of control.
DATES: We must receive comments on
this proposed AD by November 5, 2009.
ADDRESSES: Use one of the following
addresses to comment on this proposed
AD:
• Federal eRulemaking Portal: Go to
https://www.regulations.gov. Follow the
instructions for submitting comments.
• Fax: (202) 493–2251.
• Mail: U.S. Department of
Transportation, Docket Operations, M–
30, West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue, SE.,
Washington, DC 20590.
• Hand Delivery: U.S. Department of
Transportation, Docket Operations, M–
30, West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue, SE.,
Washington, DC 20590, between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays.
For service information identified in
this proposed AD, contact Vulcanair
PO 00000
Frm 00004
Fmt 4702
Sfmt 4702
3
0.100
0.133
0.199
0.231
0.296
0.338
0.403
0.512
0.627
0.743
4
0.144
0.192
0.287
0.334
0.427
0.486
0.576
0.725
0.882
1.040
5
0.211
0.281
0.420
0.489
0.625
0.707
0.831
1.035
1.241
1.447
6
0.286
0.381
0.569
0.662
0.847
0.955
1.115
1.378
1.637
1.891
7
0.376
0.500
0.748
0.870
1.112
1.249
1.447
1.770
2.076
2.371
S.p.A., Via G. Pascoli, 7, Casoria
(Naples) 80026 Italy; telephone:
(+39)081.5918111; fax:
(+39)081.5918172; e-mail:
customerservice@vulcanair.com;
Internet: https://www.vulcanair.com.
FOR FURTHER INFORMATION CONTACT:
Sarjapur Nagarajan, Aerospace Engineer,
ACE–112, FAA, Small Airplane
Directorate, 901 Locust, Room 301,
Kansas City, Missouri 64106; telephone:
(816) 329–4145; fax: (816) 329–4090.
SUPPLEMENTARY INFORMATION:
Comments Invited
We invite you to send any written
relevant data, views, or arguments
regarding this proposed AD. Send your
comments to an address listed under the
ADDRESSES section. Include the docket
number, ‘‘FAA–2009–0869; Directorate
Identifier 2009–CE–043–AD’’ at the
beginning of your comments. We
specifically invite comments on the
overall regulatory, economic,
environmental, and energy aspects of
the proposed AD. We will consider all
comments received by the closing date
and may amend the proposed AD in
light of those comments.
We will post all comments we
receive, without change, to https://
www.regulations.gov, including any
personal information you provide. We
will also post a report summarizing each
substantive verbal contact we receive
concerning this proposed AD.
Discussion
Reports of cracks in the front and rear
wing spar on Vulcanair P 68 series
airplanes caused us to issue AD 85–08–
04, Amendment 39–5037 (50 FR 14370,
April 12, 1985). AD 85–08–04 currently
requires the following on certain
Vulcanair Models P 68, P 68B, P 68C, P
68C–TC, and P 68 ‘‘OBSERVER’’
airplanes:
• Repetitively visually inspecting the
front and rear wing spars;
• Repairing the front and rear wing
spars if cracks are found; and
E:\FR\FM\21SEP1.SGM
21SEP1
]]>Agencies
[Federal Register Volume 74, Number 181 (Monday, September 21, 2009)]
[Proposed Rules]
[Pages 48014-48016]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-22661]
-----------------------------------------------------------------------
DEPARTMENT OF AGRICULTURE
Commodity Credit Corporation
7 CFR Part 1493
Solicitation of Input from Stakeholders on Revised Fees for the
Export Credit Guarantee (GSM-102) Program
AGENCY: Foreign Agricultural Service and Commodity Credit Corporation,
USDA.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
[[Page 48015]]
SUMMARY: This notice solicits comments on proposed revisions to the fee
rate schedule for the U.S. Department of Agriculture (USDA), Commodity
Credit Corporation (CCC) Export Credit Guarantee Program (GSM-102). The
Food, Conservation, and Energy Act of 2008 (the Act) amended certain
GSM-102 program provisions related to fees. CCC's goals in proposing
this revised fee structure are to create fees more commensurate with
risk, generate additional program revenue in fiscal year (FY) 2010 to
offset program costs, and consider allowing program participation by
riskier countries.
DATES: Comments on this notice must be received by October 21, 2009 to
be assured of consideration.
ADDRESSES: You may submit comments by any of the following methods:
E-mail: gsm102fees@fas.usda.gov.
Fax: (202) 720-2495; ``Attention: GSM-102 Fee Comments.''
Mail: P. Mark Rowse, Director, Office of Trade Programs,
Credit Programs Division, Foreign Agricultural Service, U.S. Department
of Agriculture, 1400 Independence Avenue, SW., Mail Stop 1025,
Washington, DC 20250-1025.
Hand Delivery/Courier: 1250 Maryland Avenue, SW., Suite
420, Washington, DC 20024.
All comments received will be available for public inspection at
the above address during regular business hours.
FOR FURTHER INFORMATION CONTACT: P. Mark Rowse, Director, Office of
Trade Programs, Credit Programs Division, Foreign Agricultural Service,
U.S. Department of Agriculture, 1400 Independence Avenue, SW., Mail
Stop 1025, Washington, DC 20250-1025; telephone: (202) 720-6211.
SUPPLEMENTARY INFORMATION:
Background and Purpose
The GSM-102 program is currently authorized under the Agricultural
Trade Act of 1978, as amended. The GSM-102 program provides credit
guarantees to encourage financing of commercial exports of U.S.
agricultural products on competitive credit terms. The CCC currently
has authorized availability of guarantees for transactions in at least
176 countries and regions, with 2,900 exporters eligible to
participate. Since 1981, CCC has issued nearly $92 billion in credit
guarantees under the GSM-102 program. Under the terms of the guarantee,
typically, 98 percent of principal and a portion of interest are
covered on credit terms of up to 3 years. By financing less than 100
percent of the exported value, CCC encourages risk-sharing by the
exporter or the exporter's assignee.
The issuance of the guarantee is subject to a fee paid by the
applicant (the exporter). In July 2005, USDA initiated a risk-based fee
structure. A fee is charged based on the tenor (length of credit
period) of the guarantee and terms for principal payment installments,
whether 6 months or annually, and the risk grade of the obligor
country. CCC assigns a numeric risk category (0-7, lowest to highest
risk) to each obligor country.
The Food, Conservation, and Energy Act of 2008 (the Act) amended
certain GSM-102 program provisions related to fees. The Act repealed
the 1 percent cap on fees. The Act also requires the Secretary, in
carrying out the GSM-102 program, to ``work with the industry to
ensure, to the maximum extent practicable, that risk-based fees
associated with the guarantees cover, but do not exceed, the operating
costs and losses over the long-term.'' The Act defines the ``long
term'' as ``a period of 10 or more years.''
CCC intends to revise the current fee structure, which has been in
place since July 2005. The revised fee structure is designed to
accomplish the following goals:
1. Create a fee structure more commensurate with risk. The 1
percent fee cap in effect prior to the Act resulted in a program fee
structure with disproportionately high fees for low-risk transactions
and disproportionately low fees for higher-risk transactions. CCC
proposes to correct this imbalance by reducing fees for transactions
with lower risk countries and shorter tenors and increasing fees for
certain higher risk countries and longer tenors. In doing so, CCC is
responding to many program participants who have noted that fees for
low-risk transactions are prohibitively expensive compared to fees for
higher-risk transactions.
2. Generate additional program revenue in fiscal year (FY) 2010 to
offset program costs, as measured by budget subsidy. Although budget
subsidy costs are re-estimated each fiscal year, the Office of
Management and Budget's most recent calculations of estimated budget
subsidy for FY 2008 and FY 2009 are 3.05 percent and 0.87 percent,
respectively. Although the initial budget subsidy estimate for FY 2010
is -1.21 percent (indicating revenues are projected to exceed costs),
CCC must offset any costs that might ultimately be incurred in FY 2008
and FY 2009 to meet the provisions of the Act.
3. Consider allowing program participation by riskier countries.
When CCC implemented risk-based fees in July 2005, the highest-risk
countries were eliminated from programming because the 1 percent fee
cap did not permit CCC to charge fees commensurate with the associated
risk. With the elimination of the fee cap, CCC can now consider
allowing some of these countries to participate, charging higher fees
to offset risk. The chart below shows the proposed fee schedule:
GSM-102 Program: Proposed Premium per U.S. $100 of Coverage
----------------------------------------------------------------------------------------------------------------
Risk category
-----------------------------------------------------------------------------------------------------------------
Tenor 0 1 2 3 4 5 6 7
----------------------------------------------------------------------------------------------------------------
Annual Payment of Principal
----------------------------------------------------------------------------------------------------------------
9 months............................... $0.087 $0.130 $0.191 $0.297 $0.429 $0.627 $0.850 $1.116
12 months............................... 0.116 0.173 0.254 0.394 0.569 0.832 1.127 1.480
15 months............................... 0.125 0.185 0.270 0.417 0.599 0.874 1.180 1.544
18 months............................... 0.148 0.213 0.308 0.469 0.671 0.970 1.303 1.694
24 months............................... 0.212 0.292 0.415 0.617 0.873 1.241 1.650 2.115
30 months............................... 0.249 0.340 0.482 0.712 1.000 1.408 1.856 2.353
36 months............................... 0.302 0.413 0.584 0.855 1.194 1.656 2.158 2.695
----------------------------------------------------------------------------------------------------------------
Semi-Annual Payment of Principal
----------------------------------------------------------------------------------------------------------------
30 days................................. 0.010 0.015 0.021 0.033 0.048 0.070 0.095 0.125
60 days................................. 0.020 0.029 0.043 0.067 0.096 0.141 0.191 0.250
[[Page 48016]]
90 days................................. 0.029 0.044 0.064 0.100 0.144 0.211 0.286 0.376
4 months............................... 0.039 0.058 0.086 0.133 0.192 0.281 0.381 0.500
6 months............................... 0.058 0.087 0.128 0.199 0.287 0.420 0.569 0.748
9 months............................... 0.068 0.102 0.149 0.231 0.334 0.489 0.662 0.870
12 months............................... 0.087 0.130 0.191 0.296 0.427 0.625 0.847 1.112
15 months............................... 0.102 0.150 0.219 0.338 0.486 0.707 0.955 1.249
18 months............................... 0.129 0.184 0.266 0.403 0.576 0.831 1.115 1.447
24 months............................... 0.173 0.240 0.343 0.512 0.725 1.035 1.378 1.770
30 months............................... 0.218 0.299 0.424 0.627 0.882 1.241 1.637 2.076
36 months............................... 0.262 0.358 0.506 0.743 1.040 1.447 1.891 2.371
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For comparison purposes, the current GSM-102 fee structure may be
found at https://www.fas.usda.gov/excredits/gsm102fees.html.
Implementation Plans
CCC will consider stakeholder input in determining the revised fee
structure. CCC plans to implement a revised fee structure no later than
September 30, 2009, so that any revised fees will be in effect for the
FY 2010 GSM-102 program. Review of the fee structure will be an on-
going process. CCC intends to make future revisions as internal and
external events warrant, including in response to budget subsidy re-
estimates, with the goal of being responsive to comments from program
participants and meeting the requirements of the Act.
Signed at Washington, DC, on Sept. 3, 2009.
Michael V. Michener,
Administrator, Foreign Agricultural Service, and Vice President,
Commodity Credit Corporation.
[FR Doc. E9-22661 Filed 9-18-09; 8:45 am]
BILLING CODE 3410-10-P
