Rural Telephone Bank and Telecommunications Program Loan Policies, Types of Loans, Loan Requirements

The Rural Utilities Service (RUS) is amending its regulations to incorporate changes to the telecommunications loan program required by the 1996 Farm Bill and the regulatory reinvention initiative of the Vice President's National Performance Review. RUS has reviewed the regulations concerning the telecommunications program and the Rural Telephone Bank loan policies and requirements to determine whether they are necessary, impose the least possible burden consistent with safety and soundness, and are written in a clear, straightforward manner. As a result of this review, the RUS telecommunications program is updating and streamlining its regulations and policy statements. In addition, this regulation will eliminate some policies and procedures that have become obsolete.