Extension of Comment Period for Proposed Rulemaking on Substantially Underserved Trust Areas (SUTA), 76905 [2011-31575]

Download as PDF 76905 Proposed Rules Federal Register Vol. 76, No. 237 Friday, December 9, 2011 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. DEPARTMENT OF AGRICULTURE Rural Utilities Service 7 CFR Part 1700 RIN 0572–AC23 Extension of Comment Period for Proposed Rulemaking on Substantially Underserved Trust Areas (SUTA) Rural Utilities Service, USDA. Notice of extension of public comment period. AGENCY: ACTION: The Rural Utilities Service (RUS) is extending until January 17, 2012, the period for public comment on the proposal to issue regulations in order to provide loans and grants to facilitate the construction, acquisition, or improvement of infrastructure projects in Substantially Underserved Trust Areas (SUTA). DATES: Comments must be received by January 17, 2012, to ensure full consideration. SUMMARY: Submit comments by either of the following methods: • Federal eRulemaking Portal at https://www.regulations.gov. Follow instructions for submitting comments for Docket ID RUS–11–AGENCY–0004. • Postal Mail/Commercial Delivery: Please send your comment addressed to Michele Brooks, Director, Program Development and Regulatory Analysis, USDA Rural Development, 1400 Independence Avenue, STOP 1522, Room 5159, Washington, DC 20250– 1522. Additional information about the Agency and its programs is available on the Internet at https:// www.rurdev.usda.gov. srobinson on DSK4SPTVN1PROD with PROPOSALS ADDRESSES: FOR FURTHER INFORMATION CONTACT: Michele Brooks, Director, Program Development and Regulatory Analysis, Rural Utilities Service, Rural Development, U.S. Department of Agriculture, 1400 Independence Avenue SW., STOP 1510, Room 5135–S, Washington, DC 20250–1590. VerDate Mar<15>2010 15:57 Dec 08, 2011 Jkt 226001 Telephone number: (202) 720–9542, Facsimile: (202) 720–1725. SUPPLEMENTARY INFORMATION: On October 14, 2011, at 76 FR 63846, RUS published a proposed rule to issue regulations in order to provide loans and grants to facilitate the construction, acquisition, or improvement of infrastructure projects in Substantially Underserved Trust Areas (SUTA). The RUS loan, loan guarantee and grant programs act as a catalyst for economic and community development. By financing improvements to rural electric, water and waste, and telecom and broadband infrastructure, RUS also plays a big role in improving other measures of quality of life in rural America, including public health and safety, environmental protection, conservation, and cultural and historic preservation. The 2008 Farm Bill (Pub. L. 110–246, codified at 7 U.S.C. 906f) authorized the Substantially Underserved Trust Area (SUTA) initiative. The SUTA initiative gives the Secretary of Agriculture certain discretionary authorities relating to financial assistance terms and conditions that can enhance the financing possibilities in areas that are underserved by certain RUS electric, water and waste, and telecom and broadband programs. The proposed rule invited the public to submit comments by December 13, 2011. The RUS is now extending the period for submission of public comments until January 17, 2012. Dated: November 5, 2011. James R. Newby, Acting Administrator, Rural Utilities Service. [FR Doc. 2011–31575 Filed 12–8–2011; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 CFR Part 5 [Docket ID OCC–2011–0019] RIN 1557–AD36 Alternatives to the Use of External Credit Ratings in the Regulations of the OCC Office of the Comptroller of the Currency, Department of the Treasury. AGENCY: PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 Notice of proposed rulemaking; correcting amendment. ACTION: This notice of proposed rulemaking makes technical corrections to the notice of proposed rulemaking concerning alternatives to the use of external credit ratings that was published on November 29, 2011 to correct a mischaracterization of section 939(d) of the Dodd-Frank Act. FOR FURTHER INFORMATION CONTACT: Carl Kaminski, Senior Attorney, Legislative and Regulatory Activities Division, (202) 874–5090, Office of the Comptroller of the Currency, 250 E Street SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: On November 29, 2011, the Office of the Comptroller of the Currency (OCC) published a notice of proposed rulemaking (NPRM) seeking comment on a proposal to revise its regulations pertaining to investment securities, securities offerings, and foreign bank capital equivalency deposits to replace references to credit ratings with alternative standards of creditworthiness.1 The OCC also sought comment on proposed amendments to its regulations pertaining to financial subsidiaries of national banks to better reflect the language of the underlying statute, as amended by section 939(d) of the Dodd-Frank Act. The National Bank Act currently permits a national bank that is one of the 100 largest insured banks to control a financial subsidiary, directly or indirectly, or to hold an interest in a financial subsidiary only if the bank has at least one issue of outstanding debt rated in one of the top three investment grade categories by a nationally recognized statistical rating organization (NRSRO).2 A national bank that is one of the second 50 largest insured banks may either satisfy this requirement or may satisfy such other criteria as the Secretary of the Treasury and the Federal Reserve Board may establish jointly by regulation. This creditworthiness requirement does not apply to national banks that are not among the largest 100 insured banks. Section 939(d) of the Dodd-Frank Act amended the creditworthiness requirement to remove the reference to nationally recognized statistical rating organization (NRSRO) ratings and to SUMMARY: 1 76 2 12 E:\FR\FM\09DEP1.SGM FR 73626 (November 29, 2011). U.S.C. 24a. 09DEP1

Agencies

[Federal Register Volume 76, Number 237 (Friday, December 9, 2011)]
[Proposed Rules]
[Page 76905]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-31575]


========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 76, No. 237 / Friday, December 9, 2011 / 
Proposed Rules

[[Page 76905]]



DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Part 1700

RIN 0572-AC23


Extension of Comment Period for Proposed Rulemaking on 
Substantially Underserved Trust Areas (SUTA)

AGENCY: Rural Utilities Service, USDA.

ACTION: Notice of extension of public comment period.

-----------------------------------------------------------------------

SUMMARY: The Rural Utilities Service (RUS) is extending until January 
17, 2012, the period for public comment on the proposal to issue 
regulations in order to provide loans and grants to facilitate the 
construction, acquisition, or improvement of infrastructure projects in 
Substantially Underserved Trust Areas (SUTA).

DATES: Comments must be received by January 17, 2012, to ensure full 
consideration.

ADDRESSES: Submit comments by either of the following methods:
     Federal eRulemaking Portal at https://www.regulations.gov. 
Follow instructions for submitting comments for Docket ID RUS-11-
AGENCY-0004.
     Postal Mail/Commercial Delivery: Please send your comment 
addressed to Michele Brooks, Director, Program Development and 
Regulatory Analysis, USDA Rural Development, 1400 Independence Avenue, 
STOP 1522, Room 5159, Washington, DC 20250-1522.

Additional information about the Agency and its programs is available 
on the Internet at https://www.rurdev.usda.gov.

FOR FURTHER INFORMATION CONTACT: Michele Brooks, Director, Program 
Development and Regulatory Analysis, Rural Utilities Service, Rural 
Development, U.S. Department of Agriculture, 1400 Independence Avenue 
SW., STOP 1510, Room 5135-S, Washington, DC 20250-1590. Telephone 
number: (202) 720-9542, Facsimile: (202) 720-1725.

SUPPLEMENTARY INFORMATION: On October 14, 2011, at 76 FR 63846, RUS 
published a proposed rule to issue regulations in order to provide 
loans and grants to facilitate the construction, acquisition, or 
improvement of infrastructure projects in Substantially Underserved 
Trust Areas (SUTA). The RUS loan, loan guarantee and grant programs act 
as a catalyst for economic and community development. By financing 
improvements to rural electric, water and waste, and telecom and 
broadband infrastructure, RUS also plays a big role in improving other 
measures of quality of life in rural America, including public health 
and safety, environmental protection, conservation, and cultural and 
historic preservation.
    The 2008 Farm Bill (Pub. L. 110-246, codified at 7 U.S.C. 906f) 
authorized the Substantially Underserved Trust Area (SUTA) initiative. 
The SUTA initiative gives the Secretary of Agriculture certain 
discretionary authorities relating to financial assistance terms and 
conditions that can enhance the financing possibilities in areas that 
are underserved by certain RUS electric, water and waste, and telecom 
and broadband programs.
    The proposed rule invited the public to submit comments by December 
13, 2011. The RUS is now extending the period for submission of public 
comments until January 17, 2012.

    Dated: November 5, 2011.
James R. Newby,
Acting Administrator, Rural Utilities Service.
[FR Doc. 2011-31575 Filed 12-8-2011; 8:45 am]
BILLING CODE P

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