[Federal Register Volume 61, Number 54 (Tuesday, March 19, 1996)]
[Notices]
[Page 11183]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-6544]
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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
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Federal Register / Vol. 61, No. 54 / Tuesday, March 19, 1996 /
Notices
[[Page 11183]]
DEPARTMENT OF AGRICULTURE
Farm Service Agency
Notice of Addendum to a Currently Approved Information Collection
AGENCY: Farm Service Agency, USDA.
ACTION: Notice and request for comments.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub.
L. 104-13), this notice announces the Agency's request for an addendum
to an approved information collection for the farm credit programs
guaranteed loan regulations of the Farm Service Agency (FSA), formerly
administered by the USDA, Farmers Home Administration. These
regulations are published under the authority of the Consolidated Farm
and Rural Development Act, as amended.
DATES: Comments on this notice must be received on or before May 20,
1996, to be assured consideration.
ADDITIONAL INFORMATION: Phillip D. Elder, Senior Loan Officer, Loan
Servicing Division, Farm Service Agency, USDA, P. O. Box 2415, Ag Box
Code 0523, Washington, D.C. 20013-2415; telephone (202) 720-4572.
SUPPLEMENTARY INFORMATION:
Title: Recovery of Losses Paid on Liquidated Guaranteed Farm Credit
Programs Loans.
OMB Control Number: 0560-0155.
Expiration Date of Approval: September 30, 1996.
Type of Request: Addendum to a Currently Approved Information
Collection.
Abstract: The information collected under Office of Management and
Budget (OMB) Number 0575-0024 and 0575-0079 is being revised to add
standardized procedures for reporting lender collections from borrowers
after FSA payment of loss claims and for releasing borrowers from
liability. The change is being made at the recommendation of the USDA,
Office of Inspector General, and is intended to maximize collections
from unsatisfied guaranteed accounts in which a loss has been paid by
the Government.
Currently, 7 CFR, Section 1980.146 (e)(3), requires FSA servicing
officials to query participating lenders for 5 years following payment
of a loss claim to determine if any collections have been made that
should be remitted to the Government. However, there is no established
format or time frame for reporting. This policy is being strengthened
by development of a form (FSA 1980-26) that will result in more clear
and consistent information. The number of years in question will be
reduced from 5 years to 3 years. Lenders will be required to report
annually during the 3-year period.
Estimate of Burden: Public reporting burden for this information
collection is estimated to average 15 minutes per response.
Respondents: State or Federally chartered banks, Farm Credit Banks,
other Farm Credit System institutions, Bank for Cooperatives, savings
and loan associations, mortgage companies, credit unions and State
lending agencies.
Estimated Number of Respondents: 2233.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 558.
Comments regarding the following issues should be sent to the Desk
Officer for Agriculture, Office of Information and Regulatory Affairs,
Office of Management and Budget, Washington, D.C. 20503 and to Phillip
D. Elder, Senior Loan Officer, Loan Servicing Division, Farm Service
Agency, USDA, P.O. Box 2415, Ag Box Code 0523, Washington, D.C. 20013-
2415; telephone (202) 720-9053: (a) whether the collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information will have practical
utility; (b) the accuracy of the agency's estimate of burden including
the validity of the methodology and assumptions used; (c) ways to
enhance the quality, utility and clarity of the information to be
collected; (d) ways to minimize the burden of the collection of
information on those who are to respond, including through the use of
appropriate automated, electronic, mechanical, or other technological
collection techniques or other forms of information technology.
All responses to this notice will be summarized and included in the
request for OMB approval. All comments will also become a matter of
public record.
Signed at Washington, DC, on March 11, 1996.
Bruce R. Weber,
Acting Administrator, Farm Service Agency.
[FR Doc. 96-6544 Filed 3-18-96; 8:45 am]
BILLING CODE 3410-05-P
