Federal Agricultural Mortgage Corporation Funding and Fiscal Affairs; Farmer Mac Liquidity Management; Correction, 28810-28811 [2014-11662]
Download as PDF
<![CDATA[
28810
Federal Register / Vol. 79, No. 97 / Tuesday, May 20, 2014 / Rules and Regulations
Environmental Impact Statement
This document has been reviewed in
accordance with 7 CFR part 1940,
subpart G, ‘‘Environmental Program.’’ It
is the determination of RHS that this
action does not constitute a major
Federal action significantly affecting the
quality of the human environment, and
in accordance with the National
Environmental Policy Act of 1969,
Public Law 91–190, an Environmental
Impact Statement is not required.
Programs Affected
The program affected by this
proposed rule is listed in the Catalog of
Federal Domestic Assistance as 10.410,
Very Low to Moderate Income Housing
Loans.
Executive Order 12372—
Intergovernmental Review of Federal
Programs
For the reasons set forth in the final
rule published at 7 CFR part 3015,
subpart V, and the related notice (48 FR
29115), these programs are not subject
to Executive Order 12372, which
requires intergovernmental consultation
with State and local officials.
E-Government Act Compliance
The RHS is committed to complying
with the E-Government Act, to promote
the use of the Internet and other
information technologies to provide
increased opportunities for citizen
access to Government information and
services, and for other purposes.
Executive Order 13175, Consultation
and Coordination With Indian Tribal
Governments
This executive order imposes
requirements on RHS in the
development of regulatory policies that
have tribal implications or preempt
tribal laws. RHS has determined that the
proposed rule does not have a
substantial direct effect on one or more
Indian tribe(s) or on either the
relationship or the distribution of
powers and responsibilities between the
Federal Government and the Indian
tribes. Thus, this proposed rule is not
subject to the requirements of Executive
Order 13175.
rmajette on DSK2TPTVN1PROD with RULES
Executive Order 13132—Federalism
The policies contained in this rule do
not have any substantial direct effect on
States, the relationship between the
National Government and the States, or
on the distribution of power and
responsibilities among the various
levels of government. Nor does this rule
impose substantial direct compliance
costs on State and local Governments.
VerDate Mar<15>2010
15:05 May 19, 2014
Jkt 232001
Therefore, consultation with the States
is not required.
■
Background
§ 3550.68
The Agency uses payment subsidies
to enhance an applicant’s repayment
ability for section 502 direct single
family housing loans. RHS administers
three types of payment subsidies:
interest credit, payment assistance
method 1 and payment assistance
method 2. The eligibility requirements
and calculation methods for payment
subsidies are located in 7 CFR 3550.68.
When the final rule that introduced
payment assistance method 2 at 7 CFR
3550.68(c)(1) was published in the
Federal Register on December 27, 2007
(72 FR 73252), with an effective date of
April 1, 2008, the language on
calculating payment assistance method
1 in 7 CFR 3550.68(c)(2) was
inadvertently modified. The language
was inadvertently changed from ‘‘The
amount of payment assistance granted is
the difference between the installment
due on the promissory note and the
greater of the payment amortized at the
equivalent interest rate or the payment
calculated based on the required floor
payment’’ to ‘‘The amount of payment
assistance granted is the difference
between the annualized note rate
installment as prescribed on the
promissory note and the lesser of . . .
(i) The floor payment . . . or (ii) The
annualized note rate installment and the
payment at the equivalent interest rate
. . .’’ (emphasis added). In addition, the
sentence stated ‘‘In leveraging
situations, the equivalent interest rate
will be used’’ was inadvertently
omitted. The inadvertent changes are
now being corrected.
*
List of Subjects in 7 CFR Part 3550
Administrative practice and
procedure, Conflict of interests,
Environmental impact statements, Equal
credit opportunity, Fair housing,
Accounting, Housing, Loan programs—
Housing and community development,
Low and moderate income housing,
Manufactured homes, Reporting and
recordkeeping requirements, Rural
areas, Subsidies.
For the reasons stated in the
preamble, chapter XXXV, Title 7 of the
Code of Federal Regulations, is
amended as follows:
PART 3550—DIRECT SINGLE FAMILY
HOUSING LOANS AND GRANTS
1. The authority citation for part 3550
continues to read as follows:
■
Authority: 5 U.S.C. 301; 42 U.S.C. 1480.
PO 00000
Frm 00002
Fmt 4700
Sfmt 4700
2. In § 3550.68, revise paragraph (c)(2)
introductory text to read as follows:
Payment subsidies.
*
*
*
*
(c) * * *
(2) Payment Assistance Method 1. The
amount of payment assistance granted is
the difference between the installment
due on the promissory note and the
greater of the payment amortized at the
equivalent interest rate or the payment
calculated based on the required floor
payment. In leveraging situations, the
equivalent interest rate will be used.
*
*
*
*
*
Dated: April 2, 2014.
Tony Hernandez,
Administrator, Rural Housing Service.
[FR Doc. 2014–11610 Filed 5–19–14; 8:45 am]
BILLING CODE 3410–XV–P
FARM CREDIT ADMINISTRATION
12 CFR Part 652
RIN 3052–AC83
Federal Agricultural Mortgage
Corporation Funding and Fiscal
Affairs; Farmer Mac Liquidity
Management; Correction
Farm Credit Administration.
Final rule; correction.
AGENCY:
ACTION:
The Farm Credit
Administration (FCA) published a final
rule in the Federal Register on
November 1, 2013 to strengthen
liquidity risk management at the Federal
Agricultural Mortgage Corporation,
improve the quality of assets in its
liquidity reserves, and bolster its ability
to fund its obligations and continue
operations during times of economic,
financial, or market adversity. This
document corrects an inaccurate
amendatory instruction in that rule.
DATES: Effective Date: This regulation
will be effective 180 days after date of
publication in the Federal Register,
provided either or both Houses of
Congress are in session for at least 30
calendar days after publication of this
regulation in the Federal Register. We
will publish a notice of the effective
date in the Federal Register.
FOR FURTHER INFORMATION CONTACT:
Joseph T. Connor, Associate Director for
Policy and Analysis, Office of
Secondary Market Oversight, Farm
Credit Administration, McLean, VA
22102–5090, (703) 883–4280, TTY
(703) 883–4056;
or
Richard A. Katz, Senior Counsel, Office
of General Counsel, Farm Credit
SUMMARY:
E:\FR\FM\20MYR1.SGM
20MYR1
Federal Register / Vol. 79, No. 97 / Tuesday, May 20, 2014 / Rules and Regulations
Administration, McLean, VA 22102–
5090, (703) 883–4020, TTY (703) 883–
4056.
SUPPLEMENTARY INFORMATION: The FCA
published a document in the Federal
Register on November 1, 2013, (78 FR
65541) amending part 652. In FR Doc.
2013–25918, the following amendatory
instruction on page 65552, in the third
column, line 59 is corrected to read as
follows:
■ 2. Amend § 652.5 by adding
alphabetically the following definitions
to read as follows:
§ 652.5
Definitions.
*
*
*
*
*
Cash means cash balances held at
Federal Reserve Banks, proceeds from
traded-but-not-yet-settled debt, and
deposit accounts at Federal Deposit
Insurance Corporation-insured banks.
Contingency Funding Plan (CFP) is
described in § 652.35(d)(2).
*
*
*
*
*
Liability Maturity Management Plan
(LMMP) is described in
§ 652.35(d)(2)(iv).
*
*
*
*
*
Liquidity reserve is described in
§ 652.40.
*
*
*
*
*
Dated: May 15, 2014.
Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2014–11662 Filed 5–19–14; 8:45 am]
BILLING CODE 6705–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Parts 91, 121, 125, and 135
[Docket No. FAA–2006–25334; Amdt Nos.
91–332, 121–370, 125–64, and 135–130]
RIN 2120–AI76
Additional Types of Child Restraint
That May Be Furnished and Used on
Aircraft; Technical Amendment
Federal Aviation
Administration, DOT.
ACTION: Final rule; technical
amendment.
AGENCY:
The FAA is amending
regulations relating to the label required
for FAA approved child restraint
systems onboard aircraft. This final rule
corrects minor technical errors in the
codified regulations and updates a
cross-reference.
DATES: Effective May 20, 2014.
FOR FURTHER INFORMATION CONTACT: For
technical questions concerning this
rmajette on DSK2TPTVN1PROD with RULES
SUMMARY:
VerDate Mar<15>2010
15:05 May 19, 2014
Jkt 232001
action, contact Nancy Lauck Claussen,
Air Transportation Division, AFS–200,
Federal Aviation Administration, 800
Independence Avenue SW.,
Washington, DC 20591; telephone: 202–
267–8166; email: nancy.l.claussen@
faa.gov.
Background
On July 14, 2006, the FAA published
a final rule entitled, ‘‘Additional Types
of Child Restraint Systems That May Be
Furnished and Used on Aircraft’’ (July
2006 CRS final rule). See 71 FR 40003.
In that final rule, the FAA amended
certain operating regulations to allow
passengers and aircraft operators to
furnish and use more types of child
restraint systems (CRS) on aircraft. The
final rule allowed the use of CRS that
the FAA approves under the aviation
standards in Technical Standard Order
C–100b, Child Restraint Systems. In
addition, the rule allowed the use of
CRS approved by the FAA under its
certification regulations regarding the
approval of materials, parts, processes,
and appliances, including CRS
approved for use by the FAA under 14
CFR 21.305(d). The intended effect of
the final rule was to increase the
number of CRS options that are
available for children to use on aircraft,
while maintaining high standards for
certification and approval.
By letter dated August 30, 2006, the
FAA approved a child restraint device
manufactured by AmSafe, Inc. (AmSafe)
in accordance with the amendments put
in place by the July 2006 CRS final rule.
Currently, the AmSafe device (CARES,
Part No. 4082) is the only CRS approved
in accordance with the amendments
adopted in the July 2006 CRS final rule.
On October 16, 2009, the FAA
published a final rule entitled
‘‘Production and Airworthiness
Approvals, Part Marking, and
Miscellaneous Amendments’’ (74 FR
53368). In the ‘‘Production and
Airworthiness Approvals, Part Marking,
and Miscellaneous Amendments’’ final
rule, the FAA amended its certification
procedures and identification
requirements for aeronautical products
and articles. As a result of this
amendment, 14 CFR 21.305 was
redesignated as 14 CFR 21.8, effective
April 14, 2010.
Technical Amendment
This technical amendment makes
revisions that affect four parts of 14
CFR—parts 91, 121, 125 and 135. The
revisions are in the sections of these
four parts that address labeling for CRS
approved for use on aircraft. In each
part a technical revision is made to add
the necessary language to the CRS
PO 00000
Frm 00003
Fmt 4700
Sfmt 4700
28811
labeling requirements to address both
CRS previously approved under
§ 21.305(d) and future CRS approved
under § 21.8(d).
On August 12, 2010, the FAA
amended § 91.107(a)(3)(iii)(B)(3)(iv) to
address the redesignation of § 21.305 as
§ 21.8. See 75 FR 48857. Although the
technical amendment did address future
CRS approved under new § 21.8(d), it
did not address the CRS previously
approved under § 21.305(d). With this
technical amendment, the FAA further
amends § 91.107(a)(3)(iii)(B)(3)(iv) to
resolve the discrepancy created by the
August 12, 2010 amendment.
In addition, when the July 2006 CRS
final rule was published, adding more
options regarding CRS approval for use
on aircraft, the punctuation for the
preceding paragraphs was not updated.
This technical amendment updates the
punctuation to reflect the CRS options
added by the July 2006 CRS final rule.
Accordingly, this technical
amendment revises
§§ 121.311(b)(2)(ii)(C)(4),
125.211(b)(2)(ii)(C)(4), and
135.128(a)(2)(ii)(C)(4) by removing the
reference to § 21.305(d) and replacing it
with ‘‘§ 21.8(d) of this chapter’’. This
technical amendment also revises
§§ 91.107(a)(3)(iii)(B)(3)(iv),
121.311(b)(2)(ii)(C)(4),
125.211(b)(2)(ii)(C)(4) and
135.128(a)(2)(ii)(C)(4) to clarify that the
label for the single CRS approved under
these paragraphs—the child restraint
device manufactured by AmSafe
(CARES, Part No. 4082)—is not affected
by this technical amendment. Finally,
this technical amendment amends the
punctuation at the end of each of the
two paragraphs preceding
§§ 91.107(a)(3)(iii)(B)(3)(iv),
121.311(b)(2)(ii)(C)(4),
125.211(b)(2)(ii)(C)(4) and in the one
paragraph preceding
§ 135.128(a)(2)(ii)(C)(4).
In addition, the agency restores a
reference to the authority citation for
part 121 that was inadvertently deleted
with the publication of the Prohibition
on Personal Use of Electronic Devices
on the Flight Deck final rule (79 FR
8263, February 12, 2014).
Because the changes in this technical
amendment result in no substantive
change, the FAA finds good cause exists
under 5 U.S.C. 553(d)(3) to make the
amendments effective in less than 30
days.
List of Subjects
14 CFR Part 91
Aircraft, Aviation safety.
14 CFR Part 121
Air carriers, Safety, Transportation.
E:\FR\FM\20MYR1.SGM
20MYR1
]]>Agencies
[Federal Register Volume 79, Number 97 (Tuesday, May 20, 2014)]
[Rules and Regulations]
[Pages 28810-28811]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-11662]
=======================================================================
-----------------------------------------------------------------------
FARM CREDIT ADMINISTRATION
12 CFR Part 652
RIN 3052-AC83
Federal Agricultural Mortgage Corporation Funding and Fiscal
Affairs; Farmer Mac Liquidity Management; Correction
AGENCY: Farm Credit Administration.
ACTION: Final rule; correction.
-----------------------------------------------------------------------
SUMMARY: The Farm Credit Administration (FCA) published a final rule in
the Federal Register on November 1, 2013 to strengthen liquidity risk
management at the Federal Agricultural Mortgage Corporation, improve
the quality of assets in its liquidity reserves, and bolster its
ability to fund its obligations and continue operations during times of
economic, financial, or market adversity. This document corrects an
inaccurate amendatory instruction in that rule.
DATES: Effective Date: This regulation will be effective 180 days after
date of publication in the Federal Register, provided either or both
Houses of Congress are in session for at least 30 calendar days after
publication of this regulation in the Federal Register. We will publish
a notice of the effective date in the Federal Register.
FOR FURTHER INFORMATION CONTACT:
Joseph T. Connor, Associate Director for Policy and Analysis, Office of
Secondary Market Oversight, Farm Credit Administration, McLean, VA
22102-5090, (703) 883-4280, TTY (703) 883-4056;
or
Richard A. Katz, Senior Counsel, Office of General Counsel, Farm Credit
[[Page 28811]]
Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-
4056.
SUPPLEMENTARY INFORMATION: The FCA published a document in the Federal
Register on November 1, 2013, (78 FR 65541) amending part 652. In FR
Doc. 2013-25918, the following amendatory instruction on page 65552, in
the third column, line 59 is corrected to read as follows:
0
2. Amend Sec. 652.5 by adding alphabetically the following definitions
to read as follows:
Sec. 652.5 Definitions.
* * * * *
Cash means cash balances held at Federal Reserve Banks, proceeds
from traded-but-not-yet-settled debt, and deposit accounts at Federal
Deposit Insurance Corporation-insured banks.
Contingency Funding Plan (CFP) is described in Sec. 652.35(d)(2).
* * * * *
Liability Maturity Management Plan (LMMP) is described in Sec.
652.35(d)(2)(iv).
* * * * *
Liquidity reserve is described in Sec. 652.40.
* * * * *
Dated: May 15, 2014.
Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2014-11662 Filed 5-19-14; 8:45 am]
BILLING CODE 6705-01-P
