rural-development · Rural Housing Service · Rule · Published 1996-02-22 · Effective 1996-02-22 · 61 FR 6761
Document
Document number
96-4018
Federal Register citation
61 FR 6761
CFR reference
7 CFR 1948
Type
Rule
Action
Interim final rule with request for comments.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
1996-02-22
Effective date
1996-02-22
Abstract
The Rural Business-Cooperative Service (RBS) is the successor to the Rural Business and Cooperative Development Service (RBCDS), which was the successor to the Rural Development Administration (RDA), which was the successor to the Farmers Home Administration (FmHA). RBS is amending the regulations for the Intermediary Relending Program (IRP) to raise the loan limit. This action is needed to allow intermediaries that have received and successfully used the maximum amount of IRP loans allowed by the current regulations, and have need for additional funds, to be eligible to apply for such additional funds. The intended effect is to raise the maximum outstanding IRP indebtedness of an intermediary to $4 million, from the current limit of $2 million, for a period to end at the close of business on August 28, 1996. IRP loan funds per intermediary will not exceed $2 million for loans approved after August 28, 1996.