Skip to Content

Rule

Disbursement of Funds; Correction

Document Details

Information about this document as published in the Federal Register.

Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble Start Printed Page 73347

AGENCY:

Rural Housing Service, Rural Business-Cooperative Service, Rural Utilities Service, and Farm Service Agency, USDA.

ACTION:

Final rule, correction.

SUMMARY:

This action corrects a final rule that was published in the Federal Register on Wednesday, October 12, 2005.

DATES:

December 12, 2005.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

Renita Bolden, Management Analyst, Regulations and Paperwork Management Branch, Support Services Division, U.S. Department of Agriculture, Stop 0742, 1400 Independence Avenue, SW., Washington, DC 20250-0742; Telephone: 202-692-0035.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Background

In FR rule document 05-20357 published October 12, 2005 (70 FR 59224), the Agencies published a final rule revising their disbursement of funds regulations to reflect current disbursement methodologies.

Need for Correction

As published, the final rule contained an incorrect reference that may prove to be misleading. This action will correct the error to insure that the accurate information is received.

Start List of Subjects

List of Subjects in 7 CFR Part 1902

End List of Subjects Start Amendment Part

For reasons set forth in the preamble, Chapter XVIII, title 7, Code of Federal Regulations is amended as follows:

End Amendment Part Start Part

PART 1902-SUPERVISED BANK ACCOUNTS

End Part Start Amendment Part

1. The authority citation for part 1902 continues to read as follows:

End Amendment Part Start Authority

Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 7 U.S.C. 6991, et seq.; 42 U.S.C. 1480; Reorganization Plan No. 2 of 1953 (5 U.S.C. App.).

End Authority

Subpart A—Supervised Bank Accounts of Loan, Grant, and Other Funds

Start Amendment Part

2. Section 1902.4 is amended by revising paragraph (a)(5) to read as follows:

End Amendment Part
Establishing MFH reserve accounts in a supervised bank account.

(a) * * *

(5) Financial institutions. The reserve account must be maintained in authorized financial institutions set out in 7 CFR part 3560, subpart G; e.g., banks, savings associations, credit unions, brokerage firms, mutual funds. Generally, any financial institution may be used provided invested or deposited funds are insured to protect against theft and dishonesty. The reserve account funds need not be Federally insured, but must be otherwise covered by non-Federal insurance against theft and dishonesty.

* * * * *
Start Signature

Dated: December 6, 2005.

Russell T. Davis,

Administrator, Rural Housing Service.

End Signature End Supplemental Information

[FR Doc. 05-23886 Filed 12-9-05; 8:45 am]

BILLING CODE 3410-XV-P