[Federal Register Volume 63, Number 212 (Tuesday, November 3, 1998)]
[Notices]
[Page 59275]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-29347]
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Notices
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains documents other than rules
or proposed rules that are applicable to the public. Notices of hearings
and investigations, committee meetings, agency decisions and rulings,
delegations of authority, filing of petitions and applications and agency
statements of organization and functions are examples of documents
appearing in this section.
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Federal Register / Vol. 63, No. 212 / Tuesday, November 3, 1998 /
Notices
[[Page 59275]]
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DEPARTMENT OF AGRICULTURE
Office of the Secretary
Privacy Act; System of Records
AGENCY: Office of the Secretary, USDA.
ACTION: Notice of New Privacy Act System of Records.
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SUMMARY: Notice is hereby given that USDA proposes to create a new
Privacy Act system of records, USDA/RMA, entitled ``Dairy Options Pilot
Program (DOPP), USDA/RMA.''
EFFECTIVE DATE: This notice will be adopted without further publication
in the Federal Register on December 14, 1998 unless modified by a
subsequent notice to incorporate comments received from the public.
Although the Privacy Act requires only that the portion of the system
which describes the ``routine uses'' of the system be published for
comment, USDA invites comments on all portions of this notice. Comments
must be received by the contact person listed below on or before
December 3, 1998.
FOR FURTHER INFORMATION CONTACT: E. Heyward Baker, Director,
Reinsurance Services Division, Risk Management Agency, Room 6727-S,
1400 Independence Avenue, S.W., Washington, D.C. 20250, Telephone:
(202) 720-0191.
SUPPLEMENTARY INFORMATION: Pursuant to the Privacy Act, 5 U.S.C. 552a,
USDA is creating a new system of records to be maintained by the Risk
Management Agency (RMA) to support the DOPP; a program to educate dairy
farmers in the use of options as risk management tools. The system
contains data on purchases of options on milk futures contracts.
The purpose of DOPP is to educate dairy producers in the use of
options contracts as risk management tools and to ascertain their
particular usefulness to dairy producers in various regional markets.
The program lasts 6 to 8 months for each participant. Over that time,
RMA will train the producers and pay for 80 percent of the premiums of
their options contracts and up to $30 in brokers fees per contract.
Brokers play a key role in DOPP. Producers will select their own DOPP-
eligible brokers and place orders through those brokers. Brokers will
use an Internet-based communications system to provide to RMA data on
participants' trading activity. RMA will use this data for program
evaluation and compliance tracking purposes. Brokers will, themselves,
be the subject of records in so far as each DOPP-eligible broker will
have signed a contract with RMA and a profile on each broker will be a
part of the DOPP software. In addition to tracking the trading activity
of DOPP brokers, the system will identify the brokers as having
attended a DOPP training session once they have complied with this
requirement, thus identifying them as eligible to conduct trades for
DOPP participants.
In conformance with 5 U.S.C. 552a(r), as implemented by OMB
Circular A-130, the Department of Agriculture has sent a report on the
new system to the Chairman and Ranking Minority Member, Committee on
Governmental Affairs, United States Senate; the Chairman and Ranking
Minority Member, Committee on Government Reform and Oversight, U.S.
House of Representatives; and the Acting Administrator, Office of
Information and Regulatory Affairs, Office of Management and Budget on
____________________, 1998.
Signed at Washington, D.C., on October 26, 1998.
Dan Glickman,
Secretary of Agriculture.
[FR Doc. 98-29347 Filed 11-2-98; 8:45 am]
BILLING CODE 3410-01-M
