Department of Agriculture October 18, 2017 – Federal Register Recent Federal Regulation Documents

The Rural Utilities Service (RUS), an agency of the United States Department of Agriculture (USDA), is soliciting Letters of Intent and opening a window for a pilot program to refinance a loan, or any part thereof, consisting of one or more whole but not partial advance(s), made under a loan by the Federal Financing Bank (FFB) and guaranteed by RUS. RUS is announcing the process for the Refinancing of Federal Financing Bank Loans Pilot Program (Refinancing Program) made to RUS Electric Program borrowers operating as an electric utility (Eligible entity). This notice describes the eligibility requirements, the process and deadlines, and the criteria that will be used by RUS to assess refinancing requests from Eligible entities with outstanding FFB debt. The Refinancing Program will refinance a higher interest rate loan or a portion thereof i.e., one or more advance under a FFB loan at the interest rate available as of the date of the advance of the new FFB loan used to refinance the outstanding FFB loan. A new FFB loan will be advanced to prepay the FFB loan. A maximum amount for refinancing per Eligible entity is also being announced. The new FFB loan will be made for the amount identified solely by FFB and RUS to prepay the outstanding FFB loan together with the required prepayment premium, if applicable. In order to maximize the Refinancing Program and the benefits to electric consumers, the Eligible entity will have the option of paying the prepayment premium or rolling the amount into the new FFB loan. The Refinancing Program is made available under Section 749 of the Public Law 115-31, Consolidated Appropriations, Act 2017 (section 749).

The United States Department of Agriculture's (USDA) Grain Inspection, Packers and Stockyards Administration (GIPSA), Packers and Stockyards Program is withdrawing the interim final rule (IFR) published in the Federal Register on December 20, 2016. Had the IFR become effective, it would have added a paragraph to the regulations issued under the Packers and Stockyards Act (P&S Act) addressing the scope of sections 202(a) and (b) of the P&S Act, which enumerate unlawful practices under the Act. Specifically, the IFR would have added a paragraph to the regulations further explaining the scope of sections 202(a) and (b) of the P&S Act such that certain conduct or actions, depending on their nature and the circumstances, could be found to violate the P&S Act without a finding of harm or likely harm to competition. GIPSA accepted and analyzed comments on the IFR received on or before March 24, 2017. In addition, in the April 12, 2017 Federal Register, GIPSA solicited and analyzed comments received on or before June 12, 2017, on four alternative actions regarding the disposition of the IFR. After careful review and consideration of all comments received, GIPSA is withdrawing the IFR.