[Federal Register Volume 63, Number 138 (Monday, July 20, 1998)]
[Notices]
[Pages 38869-38870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-19147]


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SMALL BUSINESS ADMINISTRATION


Public Meeting

AGENCY: Small Business Administration.

ACTION: Notice of a Public Meeting on multi-Lender securitizations of 
the unguaranteed portion of SBA loans made under Section 7(a) of the 
Small Business Act.

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SUMMARY: SBA is modifying its Interim Final Rule regarding financing 
and securitizing the unguaranteed portions of loans made under Section 
7(a) of the Small Business Act. In its proposed rule, published May 18, 
1998, SBA specifically sought comments during the 60-day comment period 
to assist in developing a proposal for multi-Lender securitizations. 
(See 63 FR 27219) Before developing such a proposal, SBA will hold a 
public meeting to gather a broad spectrum of ideas. Neither this 
meeting nor any written suggestions received after July 17, 1998, will 
be part of the record for the proposed rule published on May 18th.

DATES: July 30, 1998, 2 p.m. to 5 p.m.

ADDRESSES: Eisenhower Conference Room, U.S. Small Business 
Administration, 409 3rd Street, S.W., Washington, D.C. 20416.

FOR FURTHER INFORMATION CONTACT: James W. Hammersley, Director, 
Secondary Market Sales, (202) 205-7505.

SUPPLEMENTARY INFORMATION: SBA posed several questions relating to 
multi-Lender securitizations in its May 18th Notice of Proposed 
Rulemaking. (See 63 FR 27219) In addition to those questions, SBA would 
like attendees to consider the following issues:
    (1) What are the possible ways for a lender to retain an economic 
interest when securitizing through a multi-Lender structure?
    (2) How can SBA connect the performance of securitizing lenders to 
the required retained economic interest in a multi-Lender structure?
    (3) How should SBA manage the participation in the Preferred Lender

[[Page 38870]]

Program for those lenders securitizing through a multi-Lender 
structure?
    (4) How can SBA establish regulations that provide a structure for 
conduit transactions yet allow for other structure for multi-Lender 
securitizations?
    (5) Should entities that sponsor multi-Lender securitization 
structures be regulated by SBA? If so, how?
    To encourage the free exchange of ideas, the public meeting will be 
in the form of a round-table discussion.
    Anyone wishing to submit written suggestions should send them to 
Jane Palsgrove Butler, Acting Associate Administrator for Financial 
Assistance, U.S. Small Business Administration, 409 3rd Street, S.W., 
Suite 8200, Washington, D.C. 20416.
    The public meeting will take place at the Small Business 
Administration Office at 409 3rd Street, S.W., Washington, D.C. 20417. 
The meeting will be held on July 30, 1998, from 2 p.m. to 5 p.m.

    Dated: July 14, 1998.
Jane Palsgrove Butler,
Acting Associate Administrator for Financial Assistance.
[FR Doc. 98-19147 Filed 7-17-98; 8:45 am]
BILLING CODE 8025-01-U