Small Business Jobs Act: Eligible Loans for 504 Loan Program Debt Refinancing, 18375-18376 [2011-7862]
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Federal Register / Vol. 76, No. 64 / Monday, April 4, 2011 / Rules and Regulations
Reserve Bank reasonably believes to be
genuine.
(b) The obligation of the Banks and
the Office of Finance to make payments
of interest and principal with respect to
Book-entry consolidated obligations is
discharged at the time payment in the
appropriate amount is made as follows:
(1) Interest on Book-entry
consolidated obligations is either
credited by a Federal Reserve Bank to a
Funds Account maintained at the
Federal Reserve Bank or otherwise paid
as directed by the Participant.
(2) Book-entry consolidated
obligations are paid, either at maturity
or upon redemption, in accordance with
their terms by a Federal Reserve Bank
withdrawing the securities from the
Participant’s Securities Account in
which they are maintained and by either
crediting the amount of the proceeds,
including both principal and interest,
where applicable, to a Funds Account at
the Federal Reserve Bank or otherwise
paying such principal and interest as
directed by the Participant. No action by
the Participant is required in connection
with the payment of a Book-entry
consolidated obligation, unless
otherwise expressly required.
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§ 1270.16
Banks.
Authority of Federal Reserve
(a) Each Federal Reserve Bank is
hereby authorized as fiscal agent of the
Office of Finance: To perform functions
with respect to the issuance of Bookentry consolidated obligations, in
accordance with the terms of the
applicable offering notice and with
procedures established by the Office of
Finance; to service and maintain Bookentry consolidated obligations in
accounts established for such purposes;
to make payments of principal, interest
and redemption premium (if any), as
directed by the Office of Finance; to
effect transfer of Book-entry
consolidated obligations between
Participants’ Securities Accounts as
directed by the Participants; and to
perform such other duties as fiscal agent
as may be requested by the Office of
Finance.
(b) Each Federal Reserve Bank may
issue Operating Circulars not
inconsistent with this part 1270,
governing the details of its handling of
Book-entry consolidated obligations,
Security Entitlements, and the operation
of the Book-entry system under this part
1270.
§ 1270.17 Liability of Banks, FHFA, Office
of Finance and Federal Reserve Banks.
The Banks, FHFA, the Director, the
Office of Finance and the Federal
Reserve Banks may rely on the
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information provided in a tender,
transaction request form, other
transaction documentation, or Transfer
Message, and are not required to verify
the information. Neither the Banks,
FHFA, the Director, the Office of
Finance, the United States, nor the
Federal Reserve Banks shall be liable for
any action taken in accordance with the
information set out in a tender,
transaction request form, other
transaction documentation, or Transfer
Message, or evidence submitted in
support thereof.
§ 1270.18 Additional requirements; notice
of attachment for Book-entry consolidated
obligations.
(a) Additional requirements. In any
case or any class of cases arising under
the regulations in this part 1270, the
Office of Finance may require such
additional evidence and a bond of
indemnity, with or without surety, as
may in its judgment, or in the judgment
of the Banks or FHFA, be necessary for
the protection of the interests of the
Banks, FHFA, the Office of Finance or
the United States.
(b) Notice of attachment. The interest
of a debtor in a Security Entitlement
may be reached by a creditor only by
legal process upon the Securities
Intermediary with whom the debtor’s
securities account is maintained, except
where a Security Entitlement is
maintained in the name of a secured
party, in which case the debtor’s interest
may be reached by legal process upon
the secured party. The regulations in
this part 1270 do not purport to
establish whether a Federal Reserve
Bank is required to honor an order or
other notice of attachment in any
particular case or class of cases.
§ 1270.19 Reference to certain Department
of Treasury commentary and
determinations.
Notwithstanding provisions in
§ 1270.6 regarding Department of
Treasury regulations set forth in 31 CFR
part 357:
(a) The Department of Treasury
TRADES Commentary (31 CFR part 357,
appendix B) addressing the Department
of Treasury regulations governing bookentry procedure for Treasury Securities
is hereby referenced, so far as applicable
and as necessarily modified to relate to
Book-entry consolidated obligations, as
an interpretive aid to this subpart D of
this part.
(b) Determinations of the Department
of Treasury regarding whether a State
shall be considered to have adopted
Revised Article 8 for purposes of 31 CFR
part 357, as published in the Federal
Register or otherwise, shall also apply
to this subpart D of this part.
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18375
§ 1270.20 Consolidated obligations are not
obligations of the United States or
guaranteed by the United States.
Consolidated obligations are not
obligations of the United States and are
not guaranteed by the United States.
Dated: March 28, 2011.
Edward J. DeMarco,
Acting Director, Federal Housing Finance
Agency.
[FR Doc. 2011–7832 Filed 4–1–11; 8:45 am]
BILLING CODE 8070–01–P
SMALL BUSINESS ADMINISTRATION
13 CFR Part 120
Small Business Jobs Act: Eligible
Loans for 504 Loan Program Debt
Refinancing
U.S. Small Business
Administration.
ACTION: Announcement of loan
eligibility.
AGENCY:
The SBA is issuing this
document to allow loans with any
maturity date to be eligible for debt
refinancing under the Small Business
Jobs Act.
DATES: Effective Date: This document is
effective April 4, 2011.
FOR FURTHER INFORMATION CONTACT:
Andrew B. McConnell, Jr., Office of
Financial Assistance, U.S. Small
Business Administration, 409 Third
Street, SW., Washington, DC 20416;
Telephone (202) 205–7238; e-mail:
Andrew.McConnell@sba.gov.
SUMMARY:
Under the
temporary 504 debt refinancing program
authorized by the Small Business Jobs
Act (Jobs Act), Public Law 111–240, 124
Stat. 2504, only loans that will mature
on or before December 31, 2012, are
eligible for this temporary program,
unless SBA publishes a Notice in the
Federal Register extending such date
based on its assessment of available
resources and market conditions. See 13
CFR 120.882(g)(3). SBA established this
initial maturity date in order to ensure
that those small businesses most in need
would have access to the limited
resources available in this temporary
program. Based on a review of program
demand, SBA has determined that it
currently has the resources available to
accept applications for the refinancing
of loans with any maturity date.
Effective immediately, such loans will
now be eligible for this temporary debt
refinancing program if they also meet
the other statutory and regulatory
requirements.
SUPPLEMENTARY INFORMATION:
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Federal Register / Vol. 76, No. 64 / Monday, April 4, 2011 / Rules and Regulations
Authority: 13 CFR part 120.
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.
Grady B. Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. 2011–7862 Filed 4–1–11; 8:45 am]
BILLING CODE 8025–01–P
Examining the AD Docket
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 39
[Docket No. FAA–2011–0302; Directorate
Identifier 2011–CE–008–AD; Amendment
39–16650; AD 2011–07–13]
RIN 2120–AA64
Airworthiness Directives; CPAC, Inc.
(Type Certificate Formerly Held by
Commander Aircraft Corporation,
Gulfstream Aerospace Corporation,
and Rockwell International) Models
112, 112B, 112TC, 112TCA, 114, 114A,
114B, and 114TC Airplanes
Federal Aviation
Administration (FAA), DOT.
ACTION: Final rule; request for
comments.
AGENCY:
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FOR FURTHER INFORMATION CONTACT:
T.N. Baktha, Senior Aerospace Engineer,
Wichita Aircraft Certification Office
(ACO), FAA, 1801 Airport Road, Room
100; phone: (316) 946–4155; fax: (316)
946–4107; e-mail: t.n.baktha@faa.gov.
SUPPLEMENTARY INFORMATION:
Discussion
We are adopting a new
airworthiness directive (AD) for the
products listed above. This AD requires
an inspection of the elevator spar for
cracks and, if any crack is found, either
replacement with a serviceable elevator
spar that is found free of cracks or
repair/modification with an FAAapproved method. This AD also requires
reporting to the FAA the results of the
inspection. This AD was prompted by
reports of a total of nine elevator spar
cracks across seven of the affected
airplanes, including a crack of 2.35
inches just below the outboard hinge of
the right-hand elevator. We are issuing
this AD to prevent structural failure of
the elevator spar due to such cracking,
which could result in separation of the
elevator from the airplane with
consequent loss of control.
DATES: This AD is effective April 4,
2011.
We must receive comments on this
AD by May 19, 2011.
ADDRESSES: You may send comments by
any of the following methods:
• 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,
SUMMARY:
You may examine the AD docket on
the Internet at https://
www.regulations.gov; or in person at the
Docket Management Facility between
9 a.m. and 5 p.m., Monday through
Friday, except Federal holidays. The AD
docket contains this AD, the regulatory
evaluation, any comments received, and
other information. The street address for
the Docket Office (phone: 800–647–
5527) is in the ADDRESSES section.
Comments will be available in the AD
docket shortly after receipt.
The FAA has received a report from
CPAC, Inc. describing a crack of 2.35
inches just below the outboard hinge of
the right-hand elevator on a CPAC, Inc.
Model 114 airplane. The Models 112,
112B, 112TC, 112TCA, 114, 114A, 114B,
and 114TC have the same design of the
elevator spar and are all part of Type
Certificate A12SO. There have been a
total of nine elevator spar cracks across
seven of these airplanes.
Type Certificate A12SO does not
include Models 112A and 115. The
Model 112A is a Rockwell ‘‘marketing
name’’ for the Model 112. The Model
115 is a Rockwell ‘‘marketing name’’ for
the Model 114.
If not corrected, structural failure of
the elevator spar could result in
separation of the elevator from the
airplane with consequent loss of
control.
Relevant Service Information
We have included in this AD
procedures for removing the elevator
and inspecting the forward and aft sides
of the right-hand and left-hand elevator
forward spar web near and around the
outboard hinge area.
FAA’s Determination
We are issuing this AD because we
evaluated all the relevant information
and determined the unsafe condition
described previously is likely to exist or
develop in other products of the same
type design.
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AD Requirements
This AD requires an inspection of the
elevator spar for cracks and, if any crack
is found, replacement of the elevator
spar with a serviceable spar that is
found free of cracks or repair/
modification with an FAA-approved
method. This AD also requires reporting
to the FAA of the results of the
inspection.
Interim Action
We consider this AD interim action.
We are requiring a one-time inspection
of the elevator spar with a report to the
FAA of the results. We will work with
the type certificate holder to evaluate
that information to determine repetitive
inspection intervals and subsequent
terminating action. Based on this
evaluation, we may initiate further
rulemaking action to address the unsafe
condition identified in this AD.
FAA’s Justification and Determination
of the Effective Date
An unsafe condition exists that
requires the immediate adoption of this
AD. The FAA has found that the risk to
the flying public justifies waiving notice
and comment prior to adoption of this
rule because structural failure of the
elevator spar would result in potential
separation of the elevator with
consequent loss of control.
Therefore, we find that notice and
opportunity for prior public comment
are impracticable and that good cause
exists for making this amendment
effective in less than 30 days.
Comments Invited
This AD is a final rule that involves
requirements affecting flight safety and
was not preceded by notice and an
opportunity for public comment.
However, we invite you to send any
written data, views, or arguments about
this AD. Send your comments to an
address listed under the ADDRESSES
section. Include the docket number
FAA–2011–0302 and Directorate
Identifier 2011–CE–008–AD at the
beginning of your comments. We
specifically invite comments on the
overall regulatory, economic,
environmental, and energy aspects of
this AD. We will consider all comments
received by the closing date and may
amend this AD because 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
about this AD.
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Agencies
[Federal Register Volume 76, Number 64 (Monday, April 4, 2011)]
[Rules and Regulations]
[Pages 18375-18376]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-7862]
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SMALL BUSINESS ADMINISTRATION
13 CFR Part 120
Small Business Jobs Act: Eligible Loans for 504 Loan Program Debt
Refinancing
AGENCY: U.S. Small Business Administration.
ACTION: Announcement of loan eligibility.
-----------------------------------------------------------------------
SUMMARY: The SBA is issuing this document to allow loans with any
maturity date to be eligible for debt refinancing under the Small
Business Jobs Act.
DATES: Effective Date: This document is effective April 4, 2011.
FOR FURTHER INFORMATION CONTACT: Andrew B. McConnell, Jr., Office of
Financial Assistance, U.S. Small Business Administration, 409 Third
Street, SW., Washington, DC 20416; Telephone (202) 205-7238; e-mail:
Andrew.McConnell@sba.gov.
SUPPLEMENTARY INFORMATION: Under the temporary 504 debt refinancing
program authorized by the Small Business Jobs Act (Jobs Act), Public
Law 111-240, 124 Stat. 2504, only loans that will mature on or before
December 31, 2012, are eligible for this temporary program, unless SBA
publishes a Notice in the Federal Register extending such date based on
its assessment of available resources and market conditions. See 13 CFR
120.882(g)(3). SBA established this initial maturity date in order to
ensure that those small businesses most in need would have access to
the limited resources available in this temporary program. Based on a
review of program demand, SBA has determined that it currently has the
resources available to accept applications for the refinancing of loans
with any maturity date. Effective immediately, such loans will now be
eligible for this temporary debt refinancing program if they also meet
the other statutory and regulatory requirements.
[[Page 18376]]
Authority: 13 CFR part 120.
Grady B. Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. 2011-7862 Filed 4-1-11; 8:45 am]
BILLING CODE 8025-01-P