Notice of Addendum to a Currently Approved Information Collection

SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub.

L. 104-13), this notice announces the Agency's request for an addendum

to an approved information collection for the farm credit programs

guaranteed loan regulations of the Farm Service Agency (FSA), formerly

administered by the USDA, Farmers Home Administration. These

regulations are published under the authority of the Consolidated Farm

and Rural Development Act, as amended.

DATES: Comments on this notice must be received on or before May 20,

1996, to be assured consideration.

ADDITIONAL INFORMATION: Phillip D. Elder, Senior Loan Officer, Loan

Servicing Division, Farm Service Agency, USDA, P. O. Box 2415, Ag Box

Code 0523, Washington, D.C. 20013-2415; telephone (202) 720-4572.

SUPPLEMENTARY INFORMATION:

Title: Recovery of Losses Paid on Liquidated Guaranteed Farm Credit

Programs Loans.

OMB Control Number: 0560-0155.

Expiration Date of Approval: September 30, 1996.

Type of Request: Addendum to a Currently Approved Information

Collection.

Abstract: The information collected under Office of Management and

Budget (OMB) Number 0575-0024 and 0575-0079 is being revised to add

standardized procedures for reporting lender collections from borrowers

after FSA payment of loss claims and for releasing borrowers from

liability. The change is being made at the recommendation of the USDA,

Office of Inspector General, and is intended to maximize collections

from unsatisfied guaranteed accounts in which a loss has been paid by

the Government.

Currently, 7 CFR, Section 1980.146 (e)(3), requires FSA servicing

officials to query participating lenders for 5 years following payment

of a loss claim to determine if any collections have been made that

should be remitted to the Government. However, there is no established

format or time frame for reporting. This policy is being strengthened

by development of a form (FSA 1980-26) that will result in more clear

and consistent information. The number of years in question will be

reduced from 5 years to 3 years. Lenders will be required to report

annually during the 3-year period.

Estimate of Burden: Public reporting burden for this information

collection is estimated to average 15 minutes per response.

Respondents: State or Federally chartered banks, Farm Credit Banks,

other Farm Credit System institutions, Bank for Cooperatives, savings

and loan associations, mortgage companies, credit unions and State

lending agencies.

Estimated Number of Respondents: 2233.

Estimated Number of Responses per Respondent: 1.

Estimated Total Annual Burden on Respondents: 558.

Comments regarding the following issues should be sent to the Desk

Officer for Agriculture, Office of Information and Regulatory Affairs,

Office of Management and Budget, Washington, D.C. 20503 and to Phillip

D. Elder, Senior Loan Officer, Loan Servicing Division, Farm Service

Agency, USDA, P.O. Box 2415, Ag Box Code 0523, Washington, D.C. 20013-

2415; telephone (202) 720-9053: (a) whether the collection of

information is necessary for the proper performance of the functions of

the agency, including whether the information will have practical

utility; (b) the accuracy of the agency's estimate of burden including

the validity of the methodology and assumptions used; (c) ways to

enhance the quality, utility and clarity of the information to be

collected; (d) ways to minimize the burden of the collection of

information on those who are to respond, including through the use of

appropriate automated, electronic, mechanical, or other technological

collection techniques or other forms of information technology.

All responses to this notice will be summarized and included in the

request for OMB approval. All comments will also become a matter of

public record.

Signed at Washington, DC, on March 11, 1996.

Bruce R. Weber,

Acting Administrator, Farm Service Agency.

[FR Doc. 96-6544 Filed 3-18-96; 8:45 am]

BILLING CODE 3410-05-P