Guaranteed Loans; Number of Days of Interest Paid on Loss Claims

The Farm Service Agency (FSA) is clarifying and simplifying its regulations governing the number of days interest will be paid on loss claims. The liquidation provisions currently provide a timeframe for the interest payment based upon "the date of the decision to liquidate," which is often difficult to determine. This final rule will eliminate "the date of the decision to liquidate" as the beginning timeframe for the interest payment on loss claims. In addition, FSA is clarifying the guaranteed lender's responsibility for future recoveries.