Federal Register - September 2, 1943
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Source: Federal Register
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REGISTE
FEDERAL
fo
1934
VOLUME 8
OíVitEO
NUMBER 174
Washington, Thursday, September 2, 1943
Regulations TITLE 6AGRICULTURAL CREDIT
Chapter IFarm Credit Administration Farm Credit Administration Order 384 2 11
P art 70Loan I nterest R ates and S ecurity LOANS UPON SECURITY OF COMMODITY
CREDIT CORPORATION COTTON LOAN DOCU
MENTS
Interest rates on loans made pursuant to provisions of subsection a of section 8 of the Agricultural Marketing Act, as amended, upon the security of Com modity Credit Corporation cotton loan documents.
Section 70.81 is amended and Section 70.81-50 is added to Title 6, Code of Fed eral Regulations to read as follows:
70.81 Interest rate on continental commodity loans. Except as specified in 70.81-50, the rate of interest on all loans upon the security of commodi ties made on or after February 24, 1939, by any district bank for cooperatives, the Central Bank for Cooperatives, or from the Revolving Fund authorized by the Agricultural Marketing Act Sec. 7, 46
Stat. 14; 12 U.S.C. 1141e, as amended, for the purposes specified in section 7 a 1 of that act, shall be 1l/z per centum per annum. Sec. 11, 49 Stat.
316; 12 U.S.C. and Sup. 1141f 70.81-50 Interest rate on loans se cured by Commodity Credit Corporation cotton loan documents. The rate of in terest pn loans made on or after August 17,1943 by any district bank for coopera tives or the Central Bank for Coopera tives upon the security of Commodity Credit Corporation loan documents rep resenting cotton qualified as security for loans under Commodity Credit Corpora tion cotton loan programs, with the ex ception of the certification that the cot ton has been classed by a Board of Cot
ton Examiners, shall be 0.75 per centum per annum.
Sec. 8, 46 Stat. 14, as amended; 12
U.S.C. 1441f seal
J. E. W ells, Jr.,
Acting Governor.
F. R. Doc. 43-14328; Filed, September 1, 1943;
11:56 a. m.
Farm Credit Administration Order 384 4
P art 71 L oan P olicies LENDING LIMITS FOR EACH DISTRICT BAN
FOR COOPERATIVES
Section 71.3 of Title 6, Code of Fed eral Regulations is hereby amended to read as follows:
71.3 Division of lending authority between the Central Bank for Coopera tives and the district banks for coopera tives,. Except with the written approval of the Cooperative Bank Commissioner, the lending limits of each district bank, for cooperatives are hereby fixed, as to each borrower, so that at any one time:
1. Facility loans may not exceed 10
percent of a banks capital and surplus;
2. Operating capital loans may not ex ceed 15 percent of a banks capital and surplus;
3. Commodity loans may not exceed 25 percent of a banks capital and sur plus;
4. The sum of facility loans and op erating capital loans may not exceed 15 percent of a banks capital and sur plus;
5. The sum of facility loans, operat ing capital loans, and commodity loans may not exceed 25 percent of a banks capital and surplus.
The district bank shall request the Cen tral Bank for Cooperatives to participate in the extension of credit for amounts which exceed the lending limits set forth above, and, except when otherwise Continued on next page
CONTENTS
REGULATIONS AND NOTICES
A gricultural Agencies.See War PaSe Food Administration.
Alien P roperty Custodian:
Divesting o r d e r ; Bernhard Spur_______ ___________ 12104
Blind, Hermann and Graef and Schmidt, Inc., hearing be fore Vested Property Claims Committee___ ___________12107
Vesting orders:
Buz, Robert_______________ 12105
Manthey, Paul_____________ 12104
Permutit A. G_____________ 12106
Shimadzu, Genzo______
12105
Shoten, Ohmi______________ 12104
Wittemeier, Hans and Deutsche Luftfilter Baugesellschaft, m.b.H_____ 12106
F arm Credit A dministration:
Loan policies and rates:
District banks for coopera tives, lending limits____ 12037
. Loans on security of CCC
cotton loan documents__ 12037
F ederal P ower Commission :
Hearings:
Jersey Central Power and Light Co______- ______ 12103
Tennessee Gas and Transmis sion Co________________12103
I nternal R evenue B ureau:
Capital stock tax, war postpone ments_________________ 12083
Distilled spirits, traffic in con tainers________________ 12082
I nterstate Commerce C ommission :
Refrigeration orders:
Icing of vegetables, Colorado and Utah 2 documents _ 12100, 12101
Substitution of refrigerator cars for box cars in cer tain western states_____ 12100
Water carriers, transfer of oper ation certificates and per mits________ ___________ 12101
Continued on next page
12037
