Interest Rates, 68876 [E9-30858]

Download as PDF 68876 Federal Register / Vol. 74, No. 248 / Tuesday, December 29, 2009 / Notices Percent Businesses without Credit Available Elsewhere: ........................ Non-Profit Organizations with Credit Available Elsewhere: ...... Non-Profit Organizations without Credit Available Elsewhere: ...... For Economic Injury: Businesses & Small Agricultural Cooperatives without Credit Available Elsewhere: ................. Non-Profit Organizations without Credit Available Elsewhere: ...... 4.000 [Release No. 9099; Release No. 61212] 3.625 Order Approving Public Company Accounting Oversight Board Budget and Annual Accounting Support Fee for Calendar Year 2010 3.000 4.000 3.000 The number assigned to this disaster for physical damage is 11980 5 and for economic injury is 11981 0. The States which received an EIDL Declaration # are Pennsylvania; New Jersey. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Dated: December 17, 2009. Karen G. Mills, Administrator. [FR Doc. E9–30703 Filed 12–28–09; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Interest Rates The Small Business Administration publishes an interest rate called the optional ‘‘peg’’ rate (13 CFR 120.214) on a quarterly basis. This rate is a weighted average cost of money to the government for maturities similar to the average SBA direct loan. This rate may be used as a base rate for guaranteed fluctuating interest rate SBA loans. This rate will be 3.750 (33⁄4) percent for the January–March quarter of FY 2010. Pursuant to 13 CFR 120.921(b), the maximum legal interest rate for any third party lender’s commercial loan which funds any portion of the cost of a 504 project (see 13 CFR 120.801) shall be 6% over the New York Prime rate or, if that exceeds the maximum interest rate permitted by the constitution or laws of a given State, the maximum interest rate will be the rate permitted by the constitution or laws of the given State. pwalker on DSK8KYBLC1PROD with NOTICES SECURITIES AND EXCHANGE COMMISSION Grady B Hedgespeth, Director, Office of Financial Assistance. [FR Doc. E9–30858 Filed 12–28–09; 8:45 am] BILLING CODE P Securities Act of 1933, Release No. 9099/ December 22, 2009. Securities Exchange Act of 1934, Release No. 61212/December 22, 2009. The Sarbanes-Oxley Act of 2002 (the ‘‘Act’’) established the Public Company Accounting Oversight Board (‘‘PCAOB’’) to oversee the audits of public companies and related matters, to protect investors, and to further the public interest in the preparation of informative, accurate and independent audit reports. The PCAOB is to accomplish these goals through registration of public accounting firms and standard setting, inspection, and disciplinary programs. Section 109 of the Act provides that the PCAOB shall establish a reasonable annual accounting support fee, as may be necessary or appropriate to establish and maintain the PCAOB. Section 109(h) amends Section 13(b)(2) of the Securities Exchange Act of 1934 to require issuers to pay the allocable share of a reasonable annual accounting support fee or fees, determined in accordance with Section 109 of the Act. Under Section 109(f), the aggregate annual accounting support fee shall not exceed the PCAOB’s aggregate ‘‘recoverable budget expenses,’’ which may include operating, capital and accrued items. Section 109(b) of the Act directs the PCAOB to establish a budget for each fiscal year in accordance with the PCAOB’s internal procedures, subject to approval by the Securities and Exchange Commission (the ‘‘Commission’’). On July 18, 2006, the Commission amended its Rules of Practice related to its Informal and Other Procedures to add a rule to facilitate the Commission’s review and approval of PCAOB budgets and accounting support fees.1 This budget rule provides, among other things, a timetable for the preparation and submission of the PCAOB budget and for Commission actions related to each budget, a description of the information that should be included in each budget submission, limits on the PCAOB’s ability to incur expenses and obligations except as provided in the approved budget, procedures relating to supplemental budget requests, 1 17 CFR 202.11. See Release No. 33–8724 (July 18, 2006) [71 FR 41998 (July 24, 2006)]. VerDate Nov<24>2008 19:02 Dec 28, 2009 Jkt 220001 PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 requirements for the PCAOB to furnish on a quarterly basis certain budgetrelated information, and a list of definitions that apply to the rule and to general discussions of PCAOB budget matters. In accordance with the budget rule, in March 2009 the PCAOB provided the Commission with a narrative description of its program issues and outlook for the 2010 budget year. In response, the Commission staff provided to the PCAOB staff economic assumptions and budgetary guidance for the 2010 budget year. The PCAOB subsequently delivered a preliminary budget and budget justification to the Commission. Staff from the Commission’s Offices of the Chief Accountant and Executive Director dedicated a substantial amount of time to the review and analysis of the PCAOB’s programs, projects and budget estimates; reviewed the PCAOB’s estimates of 2009 actual spending; and attended several meetings with management and staff of the PCAOB to develop an understanding of the PCAOB’s budget and operations. During the course of the Commission’s review, the Commission staff relied upon representations and supporting documentation from the PCAOB. Based on this comprehensive review, the Commission issued a ‘‘pass back’’ letter to the PCAOB. The PCAOB approved its 2010 budget on November 30, 2009 and submitted that budget for Commission approval. After considering the above, the Commission did not identify any proposed disbursements in the 2010 budget adopted by the PCAOB that are not properly recoverable through the annual accounting support fee, and the Commission believes that the aggregate proposed 2010 annual accounting support fee does not exceed the PCAOB’s aggregate recoverable budget expenses for 2010. The Commission looks forward to the PCAOB’s annual updating of its strategic plan and the opportunity for the Commission to review and provide views to the PCAOB on a draft of the updated plan. As part of its review of the 2010 PCAOB budget, the Commission notes that there are certain budget-related matters that should be addressed or more closely monitored during 2010. These matters relate to: (1) The PCAOB’s inspections program; (2) its information technology programs; and (3) potential legislative actions that could impact the PCAOB. Because of the importance of each of these matters, the Commission deems it necessary to set forth the following specific measures. E:\FR\FM\29DEN1.SGM 29DEN1

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[Federal Register Volume 74, Number 248 (Tuesday, December 29, 2009)]
[Notices]
[Page 68876]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-30858]


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SMALL BUSINESS ADMINISTRATION


Interest Rates

    The Small Business Administration publishes an interest rate called 
the optional ``peg'' rate (13 CFR 120.214) on a quarterly basis. This 
rate is a weighted average cost of money to the government for 
maturities similar to the average SBA direct loan. This rate may be 
used as a base rate for guaranteed fluctuating interest rate SBA loans. 
This rate will be 3.750 (3\3/4\) percent for the January-March quarter 
of FY 2010.
    Pursuant to 13 CFR 120.921(b), the maximum legal interest rate for 
any third party lender's commercial loan which funds any portion of the 
cost of a 504 project (see 13 CFR 120.801) shall be 6% over the New 
York Prime rate or, if that exceeds the maximum interest rate permitted 
by the constitution or laws of a given State, the maximum interest rate 
will be the rate permitted by the constitution or laws of the given 
State.

Grady B Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. E9-30858 Filed 12-28-09; 8:45 am]
BILLING CODE P
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