other · Rural Housing Service · Rule · Published 2005-10-12 · 70 FR 59224
Document
Document number
05-20357
Federal Register citation
70 FR 59224
CFR reference
7 CFR 1902
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Rural Housing Service
Publication date
2005-10-12
Abstract
The Agencies are revising their disbursement of funds regulations. This action is necessary since existing regulations do not accurately reflect the current disbursement methodologies employed by the Agencies. The intended effect is to simplify and update the regulations; to eliminate reference to the obsolete Loan Disbursement System; clarify Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) insurance coverage; and eliminate reference to the now defunct Federal Savings and Loan Insurance Corporation (FSLIC). These amended regulations are to ensure the Agencies' field offices have current guidance on the disbursement methods available and supervised bank accounts.