Direct Farm Ownership Microloan; Correction, 10063 [2016-04271]
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Federal Register / Vol. 81, No. 39 / Monday, February 29, 2016 / Rules and Regulations
determines that the processing plant
should be considered a packer after
considering its capacity.
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Dated: February 22, 2016.
Elanor Starmer,
Acting Administrator, Agricultural Marketing
Service.
[FR Doc. 2016–04047 Filed 2–26–16; 8:45 am]
BILLING CODE 3410–02–P
List of Subjects in 7 CFR Part 764
Agriculture, Disaster assistance, Loan
programs-agriculture, Agricultural
commodities, Livestock.
For reasons discussed above, FSA
amends 7 CFR part 764 as follows:
DEPARTMENT OF AGRICULTURE
Farm Service Agency
7 CFR Part 764
RIN 0560–AI33
PART 764—DIRECT LOAN MAKING
Direct Farm Ownership Microloan;
Correction
Farm Service Agency, USDA.
Correcting amendments.
In a final rule that was
published and effective on January 21,
2016, we added Direct Farm Ownership
Microloan (DFOML) to the existing
Direct Loan Program. The final rule
resulted in inadvertently omitting
paragraphs that were previously in the
Farm Loan Programs general eligibility
requirements. The inadvertently
removed paragraphs specified
alternatives for demonstrating
managerial ability. This document
corrects that omission by revising the
section in the regulations to reinsert that
text.
DATES: Effective date: February 29, 2016.
FOR FURTHER INFORMATION CONTACT: Russ
Clanton; telephone: (202) 690–0214.
Persons with disabilities or who require
alternative means for communication
should contact the USDA Target Center
at (202) 720–2600 (voice).
SUPPLEMENTARY INFORMATION:
asabaliauskas on DSK5VPTVN1PROD with RULES
SUMMARY:
Background
The Farm Service Agency (FSA)
published a final rule in the Federal
Register on January 21, 2016 (81 FR
3289–3293), adding DFOML to the
existing Direct Loan Program. The final
rule changes to 7 CFR part 764 resulted
in inadvertently omitting two
paragraphs that were previously in 7
CFR 764.101(i)(4), ‘‘General Eligibility
Requirements,’’ which specified
alternatives for demonstrating
managerial ability for microloans (MLs)
for Operating Loan (OL) purposes.
The only changes the final rule
intended to make in section 764.101
were to clarify that the references to
MLs in paragraphs (i)(3) and (4) were
only for MLs for OL purposes. In
VerDate Sep<11>2014
16:24 Feb 26, 2016
Jkt 238001
1. The authority citation for part 764
continues to read as follows:
■
AGENCY:
ACTION:
making the change to paragraph (i)(4),
we should have specified that the
change was only to the introductory text
of paragraph (i)(4) because the phrase
‘‘introductory text’’ was not specified, it
resulted in paragraphs (i)(4)(i) through
(ii) being inadvertently omitted from the
CFR when the changes were made as
specified in the final rule. Therefore,
this document corrects the regulation by
reinserting the previously published
text for paragraphs (i)(4)(i) through (ii).
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
2. Add § 764.101(i)(4)(i) and (ii) to
read as follows:
■
§ 764.101
General eligibility requirements.
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(i) * * *
(4) * * *
(i) Certification of a past participation
with an agriculture-related organization,
such as, but not limited to, 4–H Club,
FFA, beginning farmer and rancher
development programs, or Community
Based Organizations, that demonstrates
experience in a related agricultural
enterprise; or
(ii) A written description of a selfdirected apprenticeship combined with
either prior sufficient experience
working on a farm or significant small
business management experience. As a
condition of receiving the loan, the selfdirected apprenticeship requires that
the applicant seek, receive, and apply
guidance from a qualified person during
the first cycle of production and
marketing typical for the applicant’s
specific operation. The individual
providing the guidance must be
knowledgeable in production,
management, and marketing practices
that are pertinent to the applicant’s
operation, and agree to form a
developmental partnership with the
applicant to share knowledge, skills,
information, and perspective of
agriculture to foster the applicant’s
development of technical skills and
management ability.
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Val Dolcini,
Administrator, Farm Service Agency.
[FR Doc. 2016–04271 Filed 2–26–16; 8:45 am]
BILLING CODE 3410–05–P
PO 00000
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10063
DEPARTMENT OF TREASURY
Office of the Comptroller of the
Currency
12 CFR Part 4
[Docket ID OCC–2016–0001]
RIN 1557–AE01
FEDERAL RESERVE SYSTEM
12 CFR Parts 208 and 211
[Docket No. R–1531]
RIN 7100–AE45
FEDERAL DEPOSIT INSURANCE
CORPORATION
12 CFR Parts 337, 347, and 390
RIN 3064–AE42
Expanded Examination Cycle for
Certain Small Insured Depository
Institutions and U.S. Branches and
Agencies of Foreign Banks
Office of the Comptroller of the
Currency (OCC), Treasury; Board of
Governors of the Federal Reserve
System (Board); and Federal Deposit
Insurance Corporation (FDIC).
ACTION: Joint interim final rules and
request for comments.
AGENCY:
The OCC, Board, and FDIC
(collectively, the agencies) are jointly
issuing and requesting public comment
on interim final rules to implement
section 83001 of the Fixing America’s
Surface Transportation Act (FAST Act),
which was enacted on December 4,
2015. Section 83001 of the FAST Act
permits the agencies to examine
qualifying insured depository
institutions with less than $1 billion in
total assets no less than once during
each 18-month period. Prior to
enactment of the FAST Act, only
qualifying insured depository
institutions with less than $500 million
in total assets were eligible for an 18month on-site examination cycle. The
interim final rules generally would
allow well capitalized and well
managed institutions with less than $1
billion in total assets to benefit from the
extended 18-month examination
schedule. In addition, the interim final
rules make parallel changes to the
agencies’ regulations governing the onsite examination cycle for U.S. branches
and agencies of foreign banks,
consistent with the International
Banking Act of 1978. Finally, the FDIC
is integrating its regulations regarding
the frequency of safety and soundness
examinations for State nonmember
banks and State savings associations.
SUMMARY:
E:\FR\FM\29FER1.SGM
29FER1
]]>Agencies
[Federal Register Volume 81, Number 39 (Monday, February 29, 2016)]
[Rules and Regulations]
[Page 10063]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-04271]
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DEPARTMENT OF AGRICULTURE
Farm Service Agency
7 CFR Part 764
RIN 0560-AI33
Direct Farm Ownership Microloan; Correction
AGENCY: Farm Service Agency, USDA.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: In a final rule that was published and effective on January
21, 2016, we added Direct Farm Ownership Microloan (DFOML) to the
existing Direct Loan Program. The final rule resulted in inadvertently
omitting paragraphs that were previously in the Farm Loan Programs
general eligibility requirements. The inadvertently removed paragraphs
specified alternatives for demonstrating managerial ability. This
document corrects that omission by revising the section in the
regulations to reinsert that text.
DATES: Effective date: February 29, 2016.
FOR FURTHER INFORMATION CONTACT: Russ Clanton; telephone: (202) 690-
0214. Persons with disabilities or who require alternative means for
communication should contact the USDA Target Center at (202) 720-2600
(voice).
SUPPLEMENTARY INFORMATION:
Background
The Farm Service Agency (FSA) published a final rule in the Federal
Register on January 21, 2016 (81 FR 3289-3293), adding DFOML to the
existing Direct Loan Program. The final rule changes to 7 CFR part 764
resulted in inadvertently omitting two paragraphs that were previously
in 7 CFR 764.101(i)(4), ``General Eligibility Requirements,'' which
specified alternatives for demonstrating managerial ability for
microloans (MLs) for Operating Loan (OL) purposes.
The only changes the final rule intended to make in section 764.101
were to clarify that the references to MLs in paragraphs (i)(3) and (4)
were only for MLs for OL purposes. In making the change to paragraph
(i)(4), we should have specified that the change was only to the
introductory text of paragraph (i)(4) because the phrase ``introductory
text'' was not specified, it resulted in paragraphs (i)(4)(i) through
(ii) being inadvertently omitted from the CFR when the changes were
made as specified in the final rule. Therefore, this document corrects
the regulation by reinserting the previously published text for
paragraphs (i)(4)(i) through (ii).
List of Subjects in 7 CFR Part 764
Agriculture, Disaster assistance, Loan programs-agriculture,
Agricultural commodities, Livestock.
For reasons discussed above, FSA amends 7 CFR part 764 as follows:
PART 764--DIRECT LOAN MAKING
0
1. The authority citation for part 764 continues to read as follows:
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
0
2. Add Sec. 764.101(i)(4)(i) and (ii) to read as follows:
Sec. 764.101 General eligibility requirements.
* * * * *
(i) * * *
(4) * * *
(i) Certification of a past participation with an agriculture-
related organization, such as, but not limited to, 4-H Club, FFA,
beginning farmer and rancher development programs, or Community Based
Organizations, that demonstrates experience in a related agricultural
enterprise; or
(ii) A written description of a self-directed apprenticeship
combined with either prior sufficient experience working on a farm or
significant small business management experience. As a condition of
receiving the loan, the self-directed apprenticeship requires that the
applicant seek, receive, and apply guidance from a qualified person
during the first cycle of production and marketing typical for the
applicant's specific operation. The individual providing the guidance
must be knowledgeable in production, management, and marketing
practices that are pertinent to the applicant's operation, and agree to
form a developmental partnership with the applicant to share knowledge,
skills, information, and perspective of agriculture to foster the
applicant's development of technical skills and management ability.
* * * * *
Val Dolcini,
Administrator, Farm Service Agency.
[FR Doc. 2016-04271 Filed 2-26-16; 8:45 am]
BILLING CODE 3410-05-P
