[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
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 This section of the FEDERAL REGISTER contains documents other than rules 
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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