[Federal Register Volume 59, Number 163 (Wednesday, August 24, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20782]


  Federal Register / Vol. 59, No. 163 / Wednesday, August 24, 1994 /
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[[Page Unknown]]

[Federal Register: August 24, 1994]


                                                   VOL. 59, NO. 163

                                         Wednesday, August 24, 1994

DEPARTMENT OF AGRICULTURE

Farmers Home Administration

7 CFR Parts 1900 and 1955

 

Delegation of Authority to the Chair of the Loan Resolution Task 
Force

AGENCY: Farmers Home Administration, USDA.

ACTION: Final rule.

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SUMMARY: This document amends the delegations of authority from the 
Administrator, Farmers Home Administration (FmHA), to delegate specific 
loan collection authority to the Chair of the Loan Resolution Task 
Force.

EFFECTIVE DATE: August 24, 1994.

FOR FURTHER INFORMATION CONTACT:
Robert L. Siegler, Office of General Counsel, (202) 720-6035.

SUPPLEMENTARY INFORMATION: The Loan Resolution Task Force was 
established to resolve by the end of fiscal year 1996, certain 
delinquent direct loans that were made under the authority of the 
Consolidated Farm and Rural Development Act. This document delegates to 
the Chair of the Loan Resolution Task Force authority to collect and 
settle certain delinquent loans.
    This rule relates to internal agency management. Therefore, 
pursuant to 5 U.S.C. 553, notice of proposed rulemaking and opportunity 
for comment are not required, and this rule may be made effective less 
than 30 days after publication in the Federal Register. Further, since 
this rule relates to internal agency management, it is exempt from the 
provisions of Executive Order Nos. 12778 and 12866. Finally, this 
action is not a rule as defined by Pub. L. No. 96-354, the Regulatory 
Flexibility Act, and, thus, is exempt from the provisions of that Act.

Programs Affected

    This action affects the following FmHA programs/activities listed 
in the Catalog of Federal Domestic Assistance under Nos.

10.404  Emergency Loans
10.406  Farm Operating Loans
10.407  Farm Ownership Loans
10.408  Economic Emergency Loans

List of Subjects in 7 CFR Parts 1900 and 1955

    Appeal procedure, Authority delegations (Government agencies), 
Foreclosure, Government acquired property, Loan payments--agriculture.

    Accordingly, Chapter XVIII, Title 7, Code of Federal Regulations, 
is amended as follows:

PART 1900--GENERAL

    1. The authority citation for part 1900 continues to read as 
follows:

    Authority: 7 U.S.C. 1989; 42 U.S.C. 1480; 5 U.S.C. 301; 7 CFR 
2.23 and 2.70.

Subpart A--Delegations of Authority

    2. Section 1900.6 is redesignated as Sec. 1900.7 and a new 
Sec. 1900.6 is added to read as follows:


Sec. 1900.6  Chair, Loan Resolution Task Force.

    The Chair, Loan Resolution Task Force is delegated the following 
authorities, to be exercised until September 30, 1996:
    (a) The responsibility for, under applicable Farmers Home 
Administration regulations, collecting and settling all delinquent 
direct Farmer Program loans as defined in the Consolidated Farm and 
Rural Development Act, as amended, that have received all primary 
servicing rights and pre-acceleration homestead and preservation loan 
servicing rights under 7 CFR part 1951, subpart S;
    (b) The responsibility for making and directing the making of loan 
servicing decisions, under applicable Farmers Home Administration 
regulations, concerning delinquent direct Farmer Programs loans for 
which accrued principal and interest equals or exceeds one million 
dollars, to extend to borrowers their remaining primary servicing 
rights and pre-acceleration homestead and preservation loan servicing 
rights under 7 CFR part 1951, subpart S;
    (c) Authority for approving the grant of exceptions pursuant to 
Secs. 1951.916, 1955.21, 1956.99 and 1965.35 of this chapter, to the 
extent necessary to carry out the responsibilities described in 
paragraphs (a) and (b) of this section.

PART 1955--PROPERTY MANAGEMENT

    3. The authority citation for part 1955 continues to read as 
follows:

    Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480; 7 CFR 
2.23 and 2.70.

Subpart A--Liquidation of Loans Secured by Real Estate and 
Acquisition of Real and Chattel Property

    4. Section 1955.4(a) is revised to read as follows:


Sec. 1955.4  Redelegation of authority.

* * * * *
    (a) Except as provided in Sec. 1900.6(c) of this chapter, any 
authority in this subpart which is specifically delegated to the 
Administrator or to an Assistant Administrator may only be delegated to 
a State Director. The State Director cannot redelegate such authority.
* * * * *
    Dated: August 17, 1994.
Michael Dunn,
Administrator, Farmers Home Administration.
[FR Doc. 94-20782 Filed 8-23-94; 8:45 am]
BILLING CODE 3410-07-M