Information on SBA Secondary Market Program, 67418-67419 [2023-21549]

Download as PDF 67418 Federal Register / Vol. 88, No. 188 / Friday, September 29, 2023 / Notices lotter on DSK11XQN23PROD with NOTICES1 (f) thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. submissions should refer to file number SR–NYSENAT–2023–20 and should be submitted on or before October 20, 2023. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.32 Sherry R. Haywood, Assistant Secretary. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: [FR Doc. 2023–21339 Filed 9–28–23; 8:45 am] Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include file number SR– NYSENAT–2023–20 on the subject line. AGENCY: Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to file number SR–NYSENAT–2023–20. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s internet website (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission’s Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All VerDate Sep<11>2014 21:46 Sep 28, 2023 Jkt 259001 BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION Information on SBA Secondary Market Program Small Business Administration. Update to secondary market program. ACTION: The purpose of this Notice is to inform the public that the Small Business Administration (SBA) is making no change to the current minimum maturity ratio of 92.0% for both SBA Standard Pools and WeightedAverage Coupon (WAC) Pools. The minimum maturity ratio covers the estimated cost of the timely payment guaranty for newly formed SBA 7(a) loan pools. This update will be incorporated, as needed, into the SBA Secondary Market Program Guide and all other appropriate SBA Secondary Market documents. DATES: The update will apply to SBA 7(a) loan pools with an issue date on or after October 1, 2023. ADDRESSES: Address comments concerning this Notice to David Parrish, Chief Secondary Market Division, Office of Financial Assistance, U.S. Small Business Administration, 409 3rd Street SW, Washington, DC 20416; or david.parrish@sba.gov. FOR FURTHER INFORMATION CONTACT: David Parrish, Chief Secondary Market Division, Office of Financial Assistance at (202) 205–6346; or david.parrish@ sba.gov. If you are deaf, hard of hearing, or have a speech disability, please dial 7–1–1 to access telecommunications relay services. SUPPLEMENTARY INFORMATION: The Secondary Market Improvements Act of 1984, 15 U.S.C. 634(f) through (h), authorized SBA to guarantee the timely payment of principal and interest on Pool Certificates. A Pool Certificate represents a fractional undivided interest in a ‘‘Pool,’’ which is an aggregation of SBA guaranteed portions of loans made by SBA Lenders under section 7(a) of the Small Business Act, SUMMARY: 32 17 PO 00000 CFR 200.30–3(a)(12). Frm 00194 Fmt 4703 Sfmt 4703 15 U.S.C. 636(a). In order to support the timely payment guaranty requirement, SBA established the Master Reserve Fund (MRF), which serves as a mechanism to cover the cost of SBA’s timely payment guaranty. Borrower payments on the guaranteed portions of pooled loans, as well as SBA guaranty payments on defaulted pooled loans, are deposited into the MRF. Funds are held in the MRF until distributions are made to investors (Registered Holders) of Pool Certificates. The interest earned on the borrower payments and the SBA guaranty payments deposited into the MRF supports the timely payments made to Registered Holders. From time to time, SBA provides guidance to SBA Pool Assemblers on the required loan and pool characteristics necessary to form a Pool. These characteristics include, among other things, the minimum number of guaranteed portions of loans required to form a Pool, the allowable difference between the highest and lowest gross and net note rates of the guaranteed portions of loans in a Pool, and the minimum maturity ratio of the guaranteed portions of loans in a Pool. The minimum maturity ratio is equal to the ratio of the shortest and the longest remaining term to maturity of the guaranteed portions of loans in a Pool. Based on SBA’s expectations as to the performance of future Pools, SBA has determined that no change is necessary to the minimum maturity ratio from fiscal year 2023 for Pools formed on or after October 1, 2023. The minimum maturity ratio will remain at 92.0%. Therefore, effective October 1, 2023, all guaranteed portions of loans in Standard Pools and WAC Pools presented for settlement with SBA’s Fiscal Transfer Agent will be required to have a minimum maturity ratio of at least 92.0%. SBA will continue to monitor loan and pool characteristics and will provide notification of additional changes as necessary. It is important to note that there is no change to SBA’s obligation to honor its guaranty of the amounts owed to Registered Holders of Pool Certificates and that such guaranty continues to be backed by the full faith and credit of the United States. This program change will be incorporated as necessary into SBA’s Secondary Market Guide and all other appropriate SBA Secondary Market documents. As indicated above, this change will be effective for Standard E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 88, No. 188 / Friday, September 29, 2023 / Notices Pools and WAC Pools with an issue date on or after October 1, 2023. David Parrish, Chief, Secondary Market Division. DEPARTMENT OF STATE [Public Notice: 12197] 30-Day Notice of Proposed Information Collection: Questionnaire—Loss of United States Nationality; Attestations [FR Doc. 2023–21549 Filed 9–28–23; 8:45 am] BILLING CODE P Notice of request for public comment and submission to OMB of proposed collection of information. ACTION: DEPARTMENT OF STATE [Public Notice:12200] International Security Advisory Board (ISAB) Meeting Notice; Closed Meeting In accordance with section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. 1009(a)(2), the Department of State announces a meeting of the International Security Advisory Board (ISAB) to take place on October 31, 2023, at the Department of State, Washington, DC. Pursuant to section 10(d) of the Federal Advisory Committee Act, 5 U.S.C. 1009(d), and 5 U.S.C. 552b(c)(1), it has been determined that this Board meeting will be closed to the public because the Board will be reviewing and discussing matters properly classified in accordance with Executive Order 13526. The purpose of the ISAB is to provide the Department with a continuing source of independent advice on all aspects of arms control, disarmament, nonproliferation, outer space, critical infrastructure, cybersecurity, the national security aspects of associated technologies, international security, and related aspects of public diplomacy. The agenda for this meeting will include classified discussions related to the Board’s ongoing studies on current U.S. policy and issues regarding arms control, international security, nuclear proliferation, associated technologies, climate and energy security. For more information, contact Michelle Dover, Executive Director of the International Security Advisory Board, Department of State, Washington, DC 20520, telephone: (202) 736–4930. lotter on DSK11XQN23PROD with NOTICES1 Michelle E. Dover, Executive Director, International Security Advisory Board, Department of State. [FR Doc. 2023–21472 Filed 9–28–23; 8:45 am] BILLING CODE 4710–27–P VerDate Sep<11>2014 21:46 Sep 28, 2023 The Department of State has submitted the information collection described below to the Office of Management and Budget (OMB) for approval. In accordance with the Paperwork Reduction Act of 1995 we are requesting comments on this collection from all interested individuals and organizations. The purpose of this notice is to allow 30 days for public comment. DATES: Submit comments up to October 30, 2023. ADDRESSES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. SUPPLEMENTARY INFORMATION: • Title of Information Collection: Questionnaire—Loss of United States Nationality; Attestations. • OMB Control Number: 1405–0178. • Type of Request: Revision of a Currently Approved Collection. • Originating Office: Bureau of Consular Affairs, Overseas Citizens Services (CA/OCS). • Form Number: DS–4079. • Respondents: United States Citizens. • Estimated Number of Respondents: 4,850. • Estimated Number of Responses: 4,850. • Average Time per Response: 43 minutes. • Total Estimated Burden Time: 3,475 hours. • Frequency: Variable by country. • Obligation to Respond: Voluntary, but if not completed, will not be eligible to request a Certificate of Loss of Nationality of the United States We are soliciting public comments to permit the Department to: • Evaluate whether the proposed information collection is necessary for the proper functions of the Department. • Evaluate the accuracy of our estimate of the time and cost burden for this proposed collection, including the SUMMARY: Jkt 259001 PO 00000 Frm 00195 Fmt 4703 Sfmt 9990 67419 validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected. • Minimize the reporting burden on those who are to respond, including the use of automated collection techniques or other forms of information technology. Please note that comments submitted in response to this Notice are public record. Before including any detailed personal information, you should be aware that your comments as submitted, including your personal information, will be available for public review. Abstract of Proposed Collection The purpose of the information requested on the DS–4079, ‘‘Questionnaire—Loss of Nationality,’’ is to assist the Department of State in determining whether a person who requests a Certificate of Loss of Nationality of the United States based on performance of a potentially expatriating act as defined in Immigration and Nationality Act (INA) Section 349(a)(1)–(5) (8 U.S.C. 1481) or other applicable statutes has met all legal requirements necessary for the U.S. Department of State to approve the request and issue a Certificate of Loss of Nationality of the United States in the requester’s name. Immigration and Nationality Act (INA) section 104 (8 U.S.C. 1104); INA section 349 (8 U.S.C. 1481); INA section 350 (8 U.S.C. 1482) [repealed]; INA section 351 (8 U.S.C. 1483); INA section 356 (8 U.S.C. 1488); INA section 358 (8 U.S.C. 1501); and 22 CFR PART 50—Subpart C authorize the Department of State to collect this information. Methodology The Bureau of Consular Affairs will post this form on Department of State websites to give respondents the opportunity to complete the form online or print the form and fill it out manually and submit the form in person or by fax or mail. Elizabeth M. Gracon, Managing Director, Consular Affairs, Overseas Citizens Services, Department of State. [FR Doc. 2023–21311 Filed 9–28–23; 8:45 am] BILLING CODE 4710–06–P E:\FR\FM\29SEN1.SGM 29SEN1

Agencies

SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 88, Number 188 (Friday, September 29, 2023)]
[Notices]
[Pages 67418-67419]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-21549]


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SMALL BUSINESS ADMINISTRATION


Information on SBA Secondary Market Program

AGENCY:  Small Business Administration.

ACTION:  Update to secondary market program.

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

SUMMARY:  The purpose of this Notice is to inform the public that the 
Small Business Administration (SBA) is making no change to the current 
minimum maturity ratio of 92.0% for both SBA Standard Pools and 
Weighted-Average Coupon (WAC) Pools. The minimum maturity ratio covers 
the estimated cost of the timely payment guaranty for newly formed SBA 
7(a) loan pools. This update will be incorporated, as needed, into the 
SBA Secondary Market Program Guide and all other appropriate SBA 
Secondary Market documents.

DATES:  The update will apply to SBA 7(a) loan pools with an issue date 
on or after October 1, 2023.

ADDRESSES:  Address comments concerning this Notice to David Parrish, 
Chief Secondary Market Division, Office of Financial Assistance, U.S. 
Small Business Administration, 409 3rd Street SW, Washington, DC 20416; 
or [email protected].

FOR FURTHER INFORMATION CONTACT:  David Parrish, Chief Secondary Market 
Division, Office of Financial Assistance at (202) 205-6346; or 
[email protected]. If you are deaf, hard of hearing, or have a 
speech disability, please dial 7-1-1 to access telecommunications relay 
services.

SUPPLEMENTARY INFORMATION:  The Secondary Market Improvements Act of 
1984, 15 U.S.C. 634(f) through (h), authorized SBA to guarantee the 
timely payment of principal and interest on Pool Certificates. A Pool 
Certificate represents a fractional undivided interest in a ``Pool,'' 
which is an aggregation of SBA guaranteed portions of loans made by SBA 
Lenders under section 7(a) of the Small Business Act, 15 U.S.C. 636(a). 
In order to support the timely payment guaranty requirement, SBA 
established the Master Reserve Fund (MRF), which serves as a mechanism 
to cover the cost of SBA's timely payment guaranty. Borrower payments 
on the guaranteed portions of pooled loans, as well as SBA guaranty 
payments on defaulted pooled loans, are deposited into the MRF. Funds 
are held in the MRF until distributions are made to investors 
(Registered Holders) of Pool Certificates. The interest earned on the 
borrower payments and the SBA guaranty payments deposited into the MRF 
supports the timely payments made to Registered Holders.
    From time to time, SBA provides guidance to SBA Pool Assemblers on 
the required loan and pool characteristics necessary to form a Pool. 
These characteristics include, among other things, the minimum number 
of guaranteed portions of loans required to form a Pool, the allowable 
difference between the highest and lowest gross and net note rates of 
the guaranteed portions of loans in a Pool, and the minimum maturity 
ratio of the guaranteed portions of loans in a Pool. The minimum 
maturity ratio is equal to the ratio of the shortest and the longest 
remaining term to maturity of the guaranteed portions of loans in a 
Pool.
    Based on SBA's expectations as to the performance of future Pools, 
SBA has determined that no change is necessary to the minimum maturity 
ratio from fiscal year 2023 for Pools formed on or after October 1, 
2023. The minimum maturity ratio will remain at 92.0%. Therefore, 
effective October 1, 2023, all guaranteed portions of loans in Standard 
Pools and WAC Pools presented for settlement with SBA's Fiscal Transfer 
Agent will be required to have a minimum maturity ratio of at least 
92.0%.
    SBA will continue to monitor loan and pool characteristics and will 
provide notification of additional changes as necessary. It is 
important to note that there is no change to SBA's obligation to honor 
its guaranty of the amounts owed to Registered Holders of Pool 
Certificates and that such guaranty continues to be backed by the full 
faith and credit of the United States.
    This program change will be incorporated as necessary into SBA's 
Secondary Market Guide and all other appropriate SBA Secondary Market 
documents. As indicated above, this change will be effective for 
Standard

[[Page 67419]]

Pools and WAC Pools with an issue date on or after October 1, 2023.

David Parrish,
Chief, Secondary Market Division.
[FR Doc. 2023-21549 Filed 9-28-23; 8:45 am]
BILLING CODE P

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