Unknown. Direct final rule

3,480 words·~16 min read·/register/2012/02/13/2012-3244

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--- schema: federal-register doc_type: fedreg source_file: FR-2012-02-13.xml --- 77 29 Monday, February 13, 2012 Contents Agriculture Agriculture Department See National Institute of Food and Agriculture See Rural Business-Cooperative Service See Rural Utilities Service PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7890-7901 2012-1640 Architectural Architectural and Transportation Barriers Compliance Board PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8002 2012-1655 Army Army Department See Engineers Corps Broadcasting Broadcasting Board of Governors NOTICES Meetings;

Sunshine Act, 7565 2012-3408 Consumer Financial Protection Bureau of Consumer Financial Protection PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8034-8036 2012-1663 Commerce Commerce Department See National Oceanic and Atmospheric Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7904-7927 2012-1641 Defense Department Defense Department See Engineers Corps PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7930-7937, 8028-8031 2012-1642 2012-1661 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 7567-7568 2012-3282 Drug Drug Enforcement Administration NOTICES Manufacturers of Controlled Substances; Registrations, 7603 2012-3268 Education Education Department PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7940 2012-1643 Employment and Training Employment and Training Administration NOTICES Change in Status: Extended Benefit Period for Alaska, 7603-7604 2012-3251 Payable Periods in the Emergency Unemployment Compensation 2008 Program for Alaska, 7604 2012-3253 Proposed Unemployment Insurance Program Performance Measures, 7604-7609 2012-3252 Energy Department Energy Department See Federal Energy Regulatory Commission PROPOSED RULES Energy Conservation Standards:

Wine Chillers and Miscellaneous Refrigeration Products, 7547-7549 2012-3261 REGULATORY AGENDA Semiannual Regulatory Agenda, 7942-7943 2012-1646 NOTICES Applications to Export Domestically Produced Liquefied Natural Gas: Freeport LNG Expansion, LP and FLNG Liquefaction, LLC, 7568-7571 2012-3247 Engineers Engineers Corps NOTICES Environmental Impact Statements; Availability, etc.: Clearwater Program, 7568 2012-3300 Environmental Protection Environmental Protection Agency RULES Disapprovals and Promulgations of Air Quality Implementation Plans;

Montana; Revisions to Administrative Rules of Montana - Air Quality, 7531-7534 2012-3245 Revisions to the California State Implementation Plan: California Air Resources Board - Consumer Products, 7535-7536 2012-3169 Joaquin Valley Unified Air Pollution Control District, 7536-7537 2012-3172 PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8004-8012 2012-1656 NOTICES Draft Toxicological Reviews: 1,4-Dioxane, 7576 2012-3296 Requests for Nominations: Farm, Ranch, and Rural Communities Committee, 7576-7577 2012-3294 Federal Aviation Federal Aviation Administration RULES Airworthiness Directives:

Airbus Airplanes, 7523-7525 2012-3116 Boeing Company Airplanes, 7518-7523 2012-2679 2012-3115 Revision of Class D and Class E Airspace: Hawthorne, CA, 7525-7526 2012-3149 NOTICES Advisory Circulars: Public Aircraft Operations, 7656 2012-3254 Aeronautical Land-Use Assurance Waivers: Will Rogers World Airport, Oklahoma City, OK, 7656-7657 2012-3146 Federal Communications Federal Communications Commission PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8038-8064 2012-1664 NOTICES Meetings:

Emergency Access Advisory Committee, 7577 2012-3018 Federal Deposit Federal Deposit Insurance Corporation PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8066-8069 2012-1666 Federal Election Federal Election Commission NOTICES Meetings; Sunshine Act, 7578 2012-3425 Federal Emergency Federal Emergency Management Agency RULES Final Flood Elevation Determinations, 7540-7544 2012-3202 Suspensions of Community Eligibility, 7537-7540 2012-3209 NOTICES Major Disaster and Related Determinations:

Alabama, 7595-7596 2012-3200 Alaska, 7596-7597 2012-3207 Utah, 7596 2012-3205 Meetings: Federal Radiological Preparedness Coordinating Committee, 7597 2012-3206 Waivers of Debt, 7597-7598 2012-3208 Federal Energy Federal Energy Regulatory Commission RULES Interpretation of Protection System Reliability Standard, 7526-7531 2012-3272 NOTICES Applications: Alliance Pipeline LP, 7572-7573 2012-3279 Wadsworth, OH, 7571-7572 2012-3275 Compliance Filings: CenterPoint Energy - Illinois Gas Transmission Co., 7573-7574 2012-3274 Petitions for Declaratory Orders:

Cross-Sound Cable Co., LLC, 7574 2012-3273 Preliminary Permit Applications: Grand Coulee Project Hydroelectric Authority, 7574-7575 2012-3276 2012-3277 Technical Conferences: Southwestern Gas Storage; Revised Agenda and Transcript Availability, 7575-7576 2012-3278 Federal Motor Federal Motor Carrier Safety Administration RULES Hours of Service of Drivers; Correction, 7544 2012-3305 PROPOSED RULES Electronic On-Board Recorders and Hours of Service Supporting Documents, 7562-7564 2012-3265 NOTICES Qualification of Drivers;

Exemption Applications; Vision, 7657-7658 2012-3263 Federal Procurement Federal Procurement Policy Office NOTICES Performance of Inherently Governmental and Critical Functions, 7609 2012-3190 Federal Reserve Federal Reserve System PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8072-8076 2012-1667 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 7578-7579 2012-3192 Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 7579 2012-3256 Fish Fish and Wildlife Service NOTICES Applications for Endangered Species Permits, 7599-7600 2012-3236 Food and Drug Food and Drug Administration NOTICES Determinations That Drugs Were Not Withdrawn from Sale for Reasons of Safety or Effectiveness:

JENLOGA (Clonidine Hydrochloride) Extended-Release Tablets, 0.1 Milligram and 0.2 Milligram, 7582-7583 2012-3222 KAPVAY (Clonidine Hydrochloride) Extended-Release Tablets, 0.2 Milligram, 7581-7582 2012-3223 WILPO (phentermine hydrochloride) Tablets, 8 Milligrams, 7583-7584 2012-3232 Draft Guidance for Industry; Availability: Bioequivalence Recommendation for Nitroglycerin Metered Spray/Sublingual Products, etc., 7586-7587 2012-3233 Bioequivalence Recommendations for Rifaximin Tablets, 7585-7586 2012-3234 Heparin for Drug and Medical Device Use;

Monitoring Crude Heparin for Quality, 7584-7585 2012-3229 Meetings: Antiparasitic Drug Use and Resistance in Ruminants and Equines, 7588 2012-3221 Blood Products Advisory Committee; Cancellation, 7588-7589 2012-3199 Gastrointestinal Drugs Advisory Committee, 7587-7588 2012-3203 Neurological Devices Panel of the Medical Devices Advisory Committee, 7589-7590 2012-3243 Tobacco Products Scientific Advisory Committee, 7589 2012-3258 Participation in Selection Process for Nominations for Representatives on Public Advisory Committees, 7591-7593 2012-3198 Foreign Assets Foreign Assets Control Office NOTICES Blocking Property of the Government of Iran and Iranian Financial Institutions:

General Licenses A and B, 7660-7662 2012-3197 General Services General Services Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8014-8015, 8028-8031 2012-1658 2012-1661 Government Accountability Government Accountability Office NOTICES Debarment, Suspension, and Ineligibility of Contractors, 7579-7581 2012-3307 Health and Human Health and Human Services Department See Food and Drug Administration See Health Resources and Services Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7946-7958 2012-1647 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 7581 2012-3210 Health Resources Health Resources and Services Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 7593-7594 2012-3281 Meetings: Advisory Committee on Infant Mortality, 7594 2012-3286 Statement of Organization, Functions and Delegations of Authority, 7594-7595 2012-3271 Homeland Homeland Security Department See Federal Emergency Management Agency PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7960-7965 2012-1648 Housing Housing and Urban Development Department PROPOSED RULES Approval of Farm Credit System Lending Institutions:

Federal Housing Administration Mortgage Insurance Programs; Withdrawal, 7558 2012-3289 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: CDBG Urban County/New York Towns Qualification/Requalification Process, 7598-7599 2012-3264 Interior Interior Department See Fish and Wildlife Service See Land Management Bureau See National Park Service PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7968-7970 2012-1649 International Trade Com International Trade Commission NOTICES Complaints, 7602 2012-3237 Investigations;

Terminations, Modifications and Rulings: Certain Strollers and Playards, 7602-7603 2012-3212 Justice Department Justice Department See Drug Enforcement Administration PROPOSED RULES Certification Process for State Capital Counsel Systems, 7559-7562 2012-3293 REGULATORY AGENDA Semiannual Regulatory Agenda, 7972 2012-1651 Labor Department Labor Department See Employment and Training Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7974-7977 2012-1652 Land Land Management Bureau NOTICES Segregation of Public Lands:

Pattern Energy Group Ocotillo Express Wind Energy Project, Imperial County, CA, 7601 2012-3299 Restoration Design Energy Project - Agua Caliente Solar Energy Zone, Yuma County, AZ, 7600-7601 2012-3241 Management Management and Budget Office See Federal Procurement Policy Office NASA National Aeronautics and Space Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8018, 8028-8031 2012-1659 2012-1661 National Credit National Credit Union Administration NOTICES Meetings;

Sunshine Act, 7610 2012-3391 National Highway National Highway Traffic Safety Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 7658-7660 2012-3302 2012-3303 National Institute Food National Institute of Food and Agriculture NOTICES Meetings: Agriculture and Food Research Initiative; Correction, 7565 2012-3288 National Oceanic National Oceanic and Atmospheric Administration RULES Fisheries of Northeastern United States: Atlantic Mackerel, Squid, and Butterfish Fisheries;

Amendment 11; Correction, 7544-7545 2012-3304 NOTICES Meetings: North Pacific Fishery Management Council, 7565-7566 2012-3266 Pacific Fishery Management Council, 7566-7567 2012-3231 National Park National Park Service NOTICES Park Boundary Revisions: Fort Laramie National Historic Site, 7601-7602 2012-2869 National Science National Science Foundation NOTICES Antarctic Conservation Act Permit Applications, 7610 2012-3204 Nuclear Regulatory Nuclear Regulatory Commission PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8078-8080 2012-1668 NOTICES Environmental Assessments;

Availability: License Renewal for University of California, Irvine Nuclear Reactor Facility, 7610-7613 2012-3298 Facility Operating Licenses: Dow Chemical Co.; Dow Chemical TRIGA Research Reactor, 7613-7618 2012-3246 Meetings: Advisory Committee on Reactor Safeguards Subcommittee on Planning and Procedures, 7618-7619 2012-3270 Advisory Committee on Reactor Safeguards Subcommittee on Regulatory Policies and Practices, 7618 2012-3295 Advisory Committee on Reactor Safeguards Subcommittee on Reliability and PRA, 7618 2012-3297 Pension Benefit Pension Benefit Guaranty Corporation NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals: Reportable Events; Notice of Failure to Make Required Contributions, 7619-7620 2012-3306 Regulatory Regulatory Information Service Center PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda; Regulatory Plan, 7664-7887 2012-1620 Rural Business Rural Business-Cooperative Service RULES Definitions and Abbreviations, 7517-7518 2012-3244 PROPOSED RULES Definitions and Abbreviations, 7546-7547 2012-3242 Rural Utilities Rural Utilities Service RULES Definitions and Abbreviations, 7517-7518 2012-3244 PROPOSED RULES Definitions and Abbreviations, 7546-7547 2012-3242 Securities Securities and Exchange Commission PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8082-8088 2012-1669 NOTICES Agency Information Collection Activities;

Proposals, Submissions, and Approvals, 7620 2012-3220 Registration Cancellations: Gravity Capital Partners, LLC, 7620-7621 2012-3224 Self-Regulatory Organizations; Proposed Rule Changes: BATS Exchange, Inc, 7642-7643 2012-3248 BATS Y-Exchange, Inc., 7640-7642 2012-3249 Chicago Board Options Exchange, Inc., 7626-7627 2012-3217 ICE Clear Europe Limited, 7652-7655 2012-3214 NASDAQ Stock Market LLC, 7639-7640 2012-3250 New York Stock Exchange LLC, NYSE Amex LLC, 7628-7634 2012-3219 NYSE Amex LLC, 7637-7639 2012-3259 NYSE Arca, Inc., 7623-7626, 7634-7636, 7643-7652 2012-3215 2012-3216 2012-3218 2012-3260 Options Clearing Corp., 7621-7623 2012-3213 Small Business Small Business Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 8020-8026 2012-1660 NOTICES Exemptions Sought:

Riverside Micro-Cap Fund II, LP, 7655 2012-3287 Renewal of Discretionary Advisory Committees, 7655 2012-3308 Social Social Security Administration PROPOSED RULES Revised Medical Criteria for Evaluating Visual Disorders, 7549-7558 2012-3226 State Department State Department NOTICES Culturally Significant Objects Imported for Exhibition Determinations: Inventing the Modern World; Decorative Arts at the World's Fairs, 1851-1939, 7655 2012-3269 Transportation Department Transportation Department See Federal Aviation Administration See Federal Motor Carrier Safety Administration See National Highway Traffic Safety Administration PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7980-7995 2012-1653 NOTICES Aviation Proceedings, Agreements Filed, 7655-7656 2012-3240 Treasury Treasury Department See Foreign Assets Control Office PROPOSED RULES REGULATORY AGENDA Semiannual Regulatory Agenda, 7998-8000 2012-1654 NOTICES List of Countries Requiring Cooperation with International Boycott, 7660 2012-3090 Separate Parts In This Issue Part II Regulatory Information Service Center, 7664-7887 2012-1620 Part III Agriculture Department, 7890-7901 2012-1640 Part IV Commerce Department, 7904-7927 2012-1641 Part V Defense Department, 7930-7937 2012-1642 Part VI Education Department, 7940 2012-1643 Part VII Energy Department, 7942-7943 2012-1646 Part VIII Health and Human Services Department, 7946-7958 2012-1647 Part IX Homeland Security Department, 7960-7965 2012-1648 Part X Interior Department, 7968-7970 2012-1649 Part XI Justice Department, 7972 2012-1651 Part XII Labor Department, 7974-7977 2012-1652 Part XIII Transportation Department, 7980-7995 2012-1653 Part XIV Treasury Department, 7998-8000 2012-1654 Part XV Architectural and Transportation Barriers Compliance Board, 8002 2012-1655 Part XVI Environmental Protection Agency, 8004-8012 2012-1656 Part XVII General Services Administration, 8014-8015 2012-1658 Part XVIII National Aeronautics and Space Administration, 8018 2012-1659 Part XIX Small Business Administration, 8020-8026 2012-1660 Part XX Defense Department, 8028-8031 2012-1661 General Services Administration, 8028-8031 2012-1661 National Aeronautics and Space Administration, 8028-8031 2012-1661 Part XXI Bureau of Consumer Financial Protection, 8034-8036 2012-1663 Part XXII Federal Communications Commission, 8038-8064 2012-1664 Part XXIII Federal Deposit Insurance Corporation, 8066-8069 2012-1666 Part XXIV Federal Reserve System, 8072-8076 2012-1667 Part XXV Nuclear Regulatory Commission, 8078-8080 2012-1668 Part XXVI Securities and Exchange Commission, 8082-8088 2012-1669 Reader Aids Consult the Reader Aids section at the end of this page for phone numbers, online resources, finding aids, reminders, and notice of recently enacted public laws.

To subscribe to the Federal Register Table of Contents LISTSERV electronic mailing list, go to http://listserv.access.gpo.gov and select Online mailing list archives, FEDREGTOC-L, Join or leave the list (or change settings); then follow the instructions. 77 29 Monday, February 13, 2012 Rules and Regulations DEPARTMENT OF AGRICULTURE Rural Business-Cooperative Service Rural Utilities Service 7 CFR Part 4279 RIN 0570-AA87 Definitions and Abbreviations AGENCY: Rural Business-Cooperative Service, Rural Utilities Service, USDA.

ACTION: Direct final rule. SUMMARY: The Rural Business-Cooperative Service is amending its regulations for the Business and Industry Guaranteed Loan Program to clarify that the Agency guarantee does not cover default and penalty interest or late charges. The Agency's regulations are currently silent on this issue. However, it has always been the Agency's policy not to pay out additional cost for default interest, penalty interest, and late charges calculated and submitted on a final report of loss claim under the Loan Note Guarantee.

The Agency does permit the lender to charge default interest with prior Agency approval. By defining “interest” in the definition section of the regulation and clarifying the Agency's policy as it relates to default interest, penalty interest, and late charge, this will avert any misunderstandings. DATES: This rule will become effective April 13, 2012 without further action unless the Agency receives written adverse comments or written notices of intent to submit adverse comments on or before March 14, 2012.

If the Agency receives adverse comments or notices, the Agency will publish a timely document in the **Federal Register** withdrawing the amendment. Any adverse comments received will be considered under the proposed rule published in this edition of the **Federal Register** in the proposed rule section. A second public comment period will not be held. Written comments must be received by the Agency or carry a postmark or equivalent no later than March 14, 2012. ADDRESSES: You may submit adverse comments or notice of intent to submit adverse comments to this rule by any of the following methods: • *Federal eRulemaking Portal: http://www.regulations.gov.* Follow the instructions for submitting comments. • *Mail:* Submit written comments via the U.S.

Postal Service to the Branch Chief, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, STOP 0742, 1400 Independence Avenue SW., Washington, DC 20250-0742. • *Hand Delivery/Courier:* Submit written comments via Federal Express Mail or other courier service requiring a street address to the Branch Chief, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, 300 7th Street SW., 7th Floor, Washington, DC 20024. All written comments will be available for public inspection during regular work hours at the 300 7th Street SW., 7th Floor address listed above.

FOR FURTHER INFORMATION CONTACT: Mr. David Lewis, Rural Development, Business Programs, U.S. Department of Agriculture, 1400 Independence Avenue SW., Stop 3221, Washington, DC 20250-3221; email: *david.lewis@wdc.usda.gov;* telephone

(202)690-0797. SUPPLEMENTARY INFORMATION: Classification This rule has been determined to be not significant for purposes of Executive Order 12866 and has not been reviewed by the Office of Management and Budget (OMB). Programs Affected The Catalog of Federal Domestic Assistance Program number assigned to the Business and Industry Guaranteed Loan Program is 10.768. The Catalog of Federal Domestic Assistance Program number assigned to the Biorefinery Assistance is 10.865. The Catalog of Federal Domestic Assistance Program number assigned to the Rural Energy for America Program is 10.868. Environmental Impact Statement This document has been reviewed in accordance with 7 CFR part 1940, subpart G, “Environmental Program.” Rural Development has determined that this action does not constitute a major Federal action significantly affecting the quality of the human environment and, in accordance with the National Environmental Policy Act

(NEPA)of 1969, 42 U.S.C. 4321 *et seq.,* an Environmental Impact Statement is not required. Executive Order 12372, Intergovernmental Consultation The program is subject to the provisions of Executive Order 12372, which requires intergovernmental consultation with State and local officials. Consultation will be completed at the time of the action performed. Executive Order 12988, Civil Justice This rule has been reviewed under Executive Order 12988, Civil Justice Reform. The Agency has determined that this rule meets the applicable standards provided in section 3 of the Executive Order. Additionally,

(1)all State and local laws and regulations that are in conflict with this rule will be preempted;

(2)no retroactive effect will be given to the rule; and

(3)administrative appeal procedures, if any, must be exhausted before litigation against the Department or its Agencies may be initiated, in accordance with the regulations of the National Appeals Division of USDA at 7 CFR part 11. Executive Order 13132, Federalism The policies contained in this rule do not have any substantial direct effect on States, on the relationship between the National Government and the States, or on the distribution of power and responsibilities among the various levels of government. Nor does this final rule impose substantial direct compliance costs on State and local Governments. Therefore, consultation with States is not required. Regulatory Flexibility Act Certification Under section 605(b) of the Regulatory Flexibility Act, 5 U.S.C. 605(b), the Agency certifies that this rule will not have a significant economic impact on a substantial number of small entities. The Agency made this determination based on the fact that this regulation only impacts those who choose to participate in the program. Small entity applicants will not be impacted to a greater extent than large entity applicants. Unfunded Mandates This rule contains no Federal mandates (under the regulatory provisions of Title II of the Unfunded Mandates Reform Act of 1995) for State, local, and tribal Governments or the private sector. Thus, this rule is not subject to the requirements of sections 202 and 205 of the Unfunded Mandates Reform Act of 1995. Executive Order 13175, Consultation and Coordination With Indian Tribal Governments This executive order imposes requirements on Rural Development in the development of regulatory policies that have tribal implications or preempt tribal laws. Rural Development has determined that the final rule does not have a substantial direct effect on one or more Indian tribe(s) or on either the relationship or the distribution of powers and responsibilities between the Federal Government and Indian tribes. Thus, this final rule is not subject to the requirements of Executive Order 13175. If a tribe determines that this rule has implications of which Rural Development is not aware and would like to engage with Rural Development on this rule, please contact Rural Development's Native American Coordinator at *AIAN@wdc.usda.gov.* Paperwork Reduction Act In accordance with the Paperwork Reduction Act of 1995, the information collection activities associated with this rule are covered under the Business and Industry Guaranteed Loan Program, OMB Number: 0570-0017. This rule contains no new reporting or recordkeeping burdens under OMB control number 0570-0017 that would require approval under the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35). E-Government Act Compliance Rural Development is committed to complying with the E-Government Act, to promote the use of the Internet and other information technologies, to provide increased opportunities for citizens to access Government information and services electronically. I. Background The Agency reviewed 7 CFR 4279.2 which is composed of two paragraphs, the first of which is pertinent. Section 4279.2(a) discusses the definitions, which has thirty-seven terms used in the Guaranteed Loanmaking. The definitions and abbreviations contained in § 4279.2 also apply to the Business and Industry Guaranteed Loan Servicing regulations and, unless otherwise noted, the Biorefinery Assistance Loan Program and the Rural Energy for America Program. Currently, the Agency regulations do not define or otherwise address “interest”, “default interest”, “penalty interest”, or “late charges”. However, it is the Agency's policy not to pay out additional cost for default interest, penalty interest, and late charges calculated and submitted on a final report of loss claim under the Loan Note Guarantee. However, lender's Promissory Note may contain provisions for default or penalty interest, or late charges with prior Agency approval. II. Discussion of Change The Agency is revising § 4279.2(a), to address the situation discussed in the “Background” section. Specifically, the Agency is adding a paragraph in § 4279.2(a), after the term “Holder” and before the term “Interim Financing”, which will define “Interest.” The change being made by this rule is to clarify that “interest” does not include default or penalty interest, or late fees. The lender may charge the borrower these fees with prior Agency approval. Accordingly, the Agency is making the changes in this direct final rule. List of Subjects in 7 CFR Part 4279 Business and industry, Loan programs, Rural development assistance. For the reasons set forth in the preamble, chapter XLII, title 7, of the Code of Federal Regulations is amended as follows: CHAPTER XLII—RURAL BUSINESS-COOPERATIVE SERVICE AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE PART 4279—GUARANTEED LOANMAKING 1. The authority citation for part 4279 continues to read as follows: Authority: 5 U.S.C. 301; 7 U.S.C. 1932(a); and 7 U.S.C. 1989. Subpart A—General 2. Paragraph

(a)of § 4279.2 is amended by adding a new definition of *Interest,* to read as follows: § 4279.2 Definitions and abbreviations. *Interest.* A fee paid by a borrower to the lender as a form of compensation for the use of money. When money is borrowed, interest is paid as a fee over a certain period of time (typically months or years) to the lender as a percentage of the principal amount owed. “Interest” does not include default or penalty, or late fees or charges. The lender may charge these fees and interest with prior Agency approval, but they are not covered by the Loan Note Guarantee. Dated: February 2, 2012. Dallas Tonsager, Under Secretary, Rural Development. [FR Doc. 2012-3244 Filed 2-10-12; 8:45 am]

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