[Federal Register Volume 62, Number 91 (Monday, May 12, 1997)]
[Proposed Rules]
[Page 25874]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-12408]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 62, No. 91 / Monday, May 12, 1997 / Proposed 
Rules  

[[Page 25874]]


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SMALL BUSINESS ADMINISTRATION

13 CFR Part 120


Public Meeting

AGENCY: Small Business Administration.

ACTION: Public meeting on financing and securitizing the unguaranteed 
portion of SBA loans made under Section 7(a) of the Small Business Act.

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SUMMARY: On February 26, 1997, SBA published in the Federal Register a 
notice of proposed rulemaking to modify its rules regarding financing 
and securitizing the unguaranteed portions of its loans made under 
Section 7(a) of the Small Business Act. On April 2, 1997, SBA published 
in the Federal Register an interim final rule on this matter and 
extended the time for public comments on the proposed regulation. 
Because of the unusually great interest shown, SBA will hold a public 
hearing on the proposed rulemaking.

DATES: May 28, 1997, 2 p.m. to 5 p.m.

ADDRESSES: Eisenhower Conference Room, U.S. Small Business 
Administration, 409 3rd Street, SW., Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: James Hammersley, Acting Deputy 
Associate Administrator for Financial Assistance, (202) 205-7505.

SUPPLEMENTARY INFORMATION: The issues for the hearing are contained in 
the Supplementary Information published in the Federal Register on 
February 26, 1997 (62 FR 8640) and April 2, 1997 (62 FR 15601). 
Previously, SBA regulations provided non-depository lenders the 
opportunity to finance and securitize the unguaranteed portion of SBA 
Section 7(a) guaranteed loans. The proposed rule, published on February 
26, 1997, would permit both depository and non-depository lenders to 
pledge or securitize the unguaranteed portions of SBA guaranteed loans. 
The proposed rule also describes certain retainage requirements to 
protect the safety and soundness of the program. The interim final 
rule, published on April 2, 1997, permits both depository and non-
depository lenders to pledge or sell the unguaranteed portions of SBA 
guaranteed loans. SBA noted in the interim final rule that it expects 
to give favorable review to any transaction which complies with the 
retainage requirements in the proposed rule.
    To assure the widest possible public participation, SBA will hold a 
public hearing on this proposal in Washington, DC at the Small Business 
Administration Office at 409 3rd Street, SW., Washington, DC 20416. The 
meeting will be held on May 28, 1997, from 2 p.m. to 5 p.m.
    Interested parties will be given a reasonable time for an oral 
presentation and may submit written statements of their oral 
presentation in advance. If you wish to make a presentation, please 
contact Betty Smith at (202) 205-6490 at least 5 days before the 
hearing. If a large number of participants desire to make statements, a 
time limitation on each presentation will be imposed.
    Members of the hearing panel may ask questions of the speaker, but 
speakers will not be allowed to question each other. Please submit 
questions in writing in advance, if possible, to the Chair. If the 
Chair determines them to be relevant, the Chair will direct them to the 
appropriate panel member.

    Dated: May 7, 1997.
Jeanne Sclater,
Acting Associate Deputy Administrator for Economic Development.
[FR Doc. 97-12408 Filed 5-9-97; 8:45 am]
BILLING CODE 8025-01-P