80 FR 38498 - Nebraska Disaster #NE-00065
SMALL BUSINESS ADMINISTRATION Federal Register Volume 80, Issue 128 (July 6, 2015)
Federal Register Volume 80, Issue 128 (July 6, 2015)
| Page Range | 38498-38499 | |
| FR Document | 2015-16428 |
[Federal Register Volume 80, Number 128 (Monday, July 6, 2015)] [Notices] [Pages 38498-38499] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-16428] ======================================================================= ----------------------------------------------------------------------- SMALL BUSINESS ADMINISTRATION [Disaster Declaration #14359 and #14360] Nebraska Disaster #NE-00065 AGENCY: U.S. Small Business Administration. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of Nebraska (FEMA- 4225-DR), dated 06/25/2015. Incident: Severe Storms, Tornadoes, Straight-line Winds, and Flooding. Incident Period: 05/06/2015 through 06/17/2015. Effective Date: 06/25/2015. Physical Loan Application Deadline Date: 08/24/2015. Economic Injury (EIDL) Loan Application Deadline Date: 03/25/2016. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President's major disaster declaration on 06/25/2015, Private Non- Profit organizations that provide essential services of governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: Cass, Dundy, Gage, Jefferson, Lancaster, Lincoln, Morrill, Nuckolls, Otoe, Saline, Saunders, Thayer. The Interest Rates are: [[Page 38499]] ------------------------------------------------------------------------ Percent ------------------------------------------------------------------------ For Physical Damage: Non-Profit Organizations With Credit 2.625 Available Elsewhere. Non-Profit Organizations Without Credit 2.625 Available Elsewhere. For Economic Injury: Non-Profit Organizations Without Credit 2.625 Available Elsewhere. ------------------------------------------------------------------------ The number assigned to this disaster for physical damage is 14359B and for economic injury is 14360B. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Associate Administratorfor Disaster Assistance. [FR Doc. 2015-16428 Filed 7-2-15; 8:45 am] BILLING CODE 8025-01-P
![38498 Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices
proposed rule change effects a change temporarily suspend such rule change if should refer to File Number SR–BATS–
that (A) does not significantly affect the it appears to the Commission that such 2015–47, and should be submitted on or
protection of investors or the public action is: (1) Necessary or appropriate in before July 27, 2015.
interest; (B) does not impose any the public interest; (2) for the protection For the Commission, by the Division of
significant burden on competition; and of investors; or (3) otherwise in Trading and Markets, pursuant to delegated
(C) by its terms, does not become furtherance of the purposes of the Act. authority.20
operative for 30 days after the date of If the Commission takes such action, the Robert W. Errett,
the filing, or such shorter time as the Commission shall institute proceedings Deputy Secretary.
Commission may designate if consistent to determine whether the proposed rule
[FR Doc. 2015–16414 Filed 7–2–15; 8:45 am]
with the protection of investors and the should be approved or disapproved.
BILLING CODE 8011–01–P
public interest; provided that the self-
IV. Solicitation of Comments
regulatory organization has given the
Commission written notice of its intent Interested persons are invited to
to file the proposed rule change, along submit written data, views, and
arguments concerning the foregoing, SMALL BUSINESS ADMINISTRATION
with a brief description and text of the
proposed rule change, at least five including whether the proposed rule
business days prior to the date of filing change is consistent with the Act. [Disaster Declaration #14359 and #14360]
of the proposed rule change, or such Comments may be submitted by any of
shorter time as designated by the the following methods: Nebraska Disaster #NE–00065
Commission. The Exchange provided Electronic Comments AGENCY: U.S. Small Business
the Commission with written notice of Administration.
its intent to file the proposed rule • Use the Commission’s Internet
change, along with a brief description comment form (http://www.sec.gov/ ACTION: Notice.
and text of the proposed rule change at rules/sro.shtml); or
least five business days prior to the date • Send an email to rule-comments@ SUMMARY: This is a Notice of the
sec.gov. Please include File Number SR– Presidential declaration of a major
of this filing.
A proposed rule change filed under BATS–2015–47 on the subject line. disaster for Public Assistance Only for
Rule 19b–4(f)(6) 17 normally does not the State of Nebraska (FEMA–4225–DR),
Paper Comments
become operative prior to 30 days after dated 06/25/2015.
• Send paper comments in triplicate Incident: Severe Storms, Tornadoes,
the date of the filing. However, pursuant
to Brent J. Fields, Secretary, Securities Straight-line Winds, and Flooding.
to Rule 19b–4(f)(6)(iii), the Commission
and Exchange Commission, 100 F Street Incident Period: 05/06/2015 through
may designate a shorter time if such
NE., Washington, DC 20549–1090. 06/17/2015.
action is consistent with the protection
of investors and the public interest. The All submissions should refer to File Effective Date: 06/25/2015.
Exchange has asked the Commission to Number SR–BATS–2015–47. This file
Physical Loan Application Deadline
waive the 30-day operative delay so that number should be included on the
Date: 08/24/2015.
BATS may implement the proposed rule subject line if email is used. To help the
Commission process and review your Economic Injury (EIDL) Loan
change immediately. The Exchange has Application Deadline Date: 03/25/2016.
represented that it has alerted its comments more efficiently, please use
only one method. The Commission will ADDRESSES: Submit completed loan
Members of the proposed change 18 and
that those currently utilizing Price post all comments on the Commission’s applications to: U.S. Small Business
Adjust functionality would not need to Internet Web site (http://www.sec.gov/ Administration, Processing and
make any system changes in connection rules/sro.shtml). Copies of the Disbursement Center, 14925 Kingsport
with the proposed change. The submission, all subsequent Road, Fort Worth, TX 76155.
Commission believes that waiving the amendments, all written statements FOR FURTHER INFORMATION CONTACT: A
30-day operative delay is consistent with respect to the proposed rule Escobar, Office of Disaster Assistance,
with the protection of investors and the change that are filed with the U.S. Small Business Administration,
public interest as it will align the Commission, and all written 409 3rd Street SW., Suite 6050,
display-price sliding functionality and communications relating to the Washington, DC 20416.
Price Adjust functionality and help proposed rule change between the
SUPPLEMENTARY INFORMATION: Notice is
harmonize the Exchange’s rulebook. Commission and any person, other than
those that may be withheld from the hereby given that as a result of the
Therefore, the Commission hereby President’s major disaster declaration on
waives the 30-day operative delay and public in accordance with the
provisions of 5 U.S.C. 552, will be 06/25/2015, Private Non-Profit
designates the proposed rule change to organizations that provide essential
be operative upon filing with the available for Web site viewing and
printing in the Commission’s Public services of governmental nature may file
Commission.19 disaster loan applications at the address
At any time within 60 days of the Reference Room, 100 F Street NE.,
Washington, DC 20549 on official listed above or other locally announced
filing of the proposed rule change, the
business days between the hours of locations.
Commission may summarily
10:00 a.m. and 3:00 p.m. Copies of such The following areas have been
17 17 CFR 240.19b–4(f)(6). filing also will be available for determined to be adversely affected by
18 See BATS Trade Desk Notice dated May 19, inspection and copying at the principal the disaster:
Lhorne on DSK7TPTVN1PROD with NOTICES
2015, ‘‘BATS Update to Post Only Price Adjust offices of the Exchange. All comments Primary Counties: Cass, Dundy, Gage,
Logic Effective Friday, June 19, 2015 on BZX,’’
available at www.batstrading.com/alerts under received will be posted without change; Jefferson, Lancaster, Lincoln, Morrill,
Release Notes. the Commission does not edit personal Nuckolls, Otoe, Saline, Saunders,
19 For purposes only of waiving the operative
identifying information from Thayer.
delay for this proposal, the Commission has submissions. You should submit only
considered the proposed rule’s impact on The Interest Rates are:
efficiency, competition, and capital formation. See information that you wish to make
15 U.S.C. 78c(f). available publicly. All submissions 20 17 CFR 200.30–3(a)(12).
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![Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices 38499
Percent Confidential Business Information or unsecured third-party debt, though the
otherwise protected should not be Agency may review the related loan
For Physical Damage: included. Submissions will not be agreement(s) in connection with its
Non-Profit Organizations 2.625 edited to remove any identifying or oversight, including examinations, of
With Credit Available contact information. the SBIC.
Elsewhere. Leveraged SBICs commonly use
Non-Profit Organizations 2.625 FOR FURTHER INFORMATION CONTACT: Lyn
Womack, Office of Investment and unsecured lines of credit. Although
Without Credit Available
Innovation, 409 Third St. SW., permitted by the regulations without
Elsewhere.
For Economic Injury: Washington, DC 20416, (202) 205–2416. SBA prior approval, all such credit
Non-Profit Organizations 2.625 facilities pose a potential credit risk to
SUPPLEMENTARY INFORMATION:
Without Credit Available SBA because, with certain limited
Elsewhere. I. Background Information exceptions set forth under 13 CFR
107.560, the Agency is subordinated to
The SBIC Program was established
The number assigned to this disaster the first $10 million of such debt.
under the Small Business Investment
for physical damage is 14359B and for Furthermore, SBA is concerned that
Act of 1958. 15 U.S.C. 661 et seq. (the
economic injury is 14360B. many such credit facilities contain
‘‘Act’’). SBICs are privately owned and
(Catalog of Federal Domestic Assistance certain provisions that may increase
Numbers 59002 and 59008) professionally managed investment
SBA’s credit risk. SBA is specifically
funds, licensed and regulated by SBA, concerned about provisions that, upon a
James E. Rivera, that use privately-raised capital to make default (which may include events other
Associate Administratorfor Disaster equity and debt investments in
Assistance. than a payment default; for example,
qualifying small businesses. SBICs may failure by more than a certain number
[FR Doc. 2015–16428 Filed 7–2–15; 8:45 am] be leveraged or non-leveraged. of investors in the SBIC to fund a capital
BILLING CODE 8025–01–P Leveraged SBICs use privately raised call within a stated period), allow a
capital plus funds borrowed by issuing lender to make a capital call directly on
debentures guaranteed by SBA to make the SBIC’s investors and use the
SMALL BUSINESS ADMINISTRATION such qualifying investments. Only proceeds to repay the line of credit.
[Docket ID No. SBA–2015–0009] SBICs with outstanding debenture Similarly, SBA is concerned about
leverage pose a credit risk to SBA, and provisions that permit a lender to
Small Business Investment SBA’s request for input in this notice is compel the SBIC’s General Partner to
Companies—Request for Comments limited to this type of SBIC. SBA does make a capital call, together with
on Credit and Risk Management Issues not anticipate any changes to the remedies including specific
regulations as a result of this notice, but performance and/or injunctive relief. If
AGENCY: U.S. Small Business will consider changes to the policy
Administration. an SBIC defaults on its leverage and is
guidance that interprets the regulations. transferred by SBA to a liquidation
ACTION: Notice and request for SBICs are governed by Title 13, Part status in accordance with the SBIC’s
comments. 107 in the Code of Federal Regulations leverage terms, the SBIC’s remaining
SUMMARY: The Small Business (13 CFR part 107) which may be found commitments are a significant source of
Administration (SBA) has identified two at www.gpo.gov/fdsys/pkg/CFR-2014- capital that SBA relies upon for
issues that potentially affect SBA’s title13-vol1/xml/CFR-2014-title13-vol1- repayment of the SBIC’s leverage.
ability to make recoveries from a small part107.xml. SBA also issues However, such commitments will not be
business investment company (SBIC) supplemental guidance through various available to SBA if they have already
that performs poorly and poses a credit publications which may be found at been called to satisfy a default under the
risk to SBA. The Agency seeks public www.sba.gov/sbicpolicy. SBIC’s unsecured credit facility. SBA
input on how SBA should address its II. Areas of Concern has also observed that some SBICs use
credit concerns regarding these two these lines on a short-term basis to fund
SBA is seeking public input on the investments, while others maintain
issues: SBICs with unsecured lines of
following areas of concern: outstanding balances on a longer-term
credit, and the determination of ‘‘equity
1. Unsecured Lines of Credit. The Act basis for working capital or other
capital investments’’ when calculating
provides that SBA ‘‘(1) shall not permit purposes.
an SBIC’s capital impairment
a licensee having outstanding leverage SBA is seeking comments as to how
percentage.
to incur third party debt that would the Agency can best address its credit
DATES: Comments must be received on create or contribute to an unreasonable concerns while continuing to permit
or before September 4, 2015. risk of default or loss to the Federal SBICs to utilize unsecured lines of
ADDRESSES: Submit your comments, Government; and (2) shall permit such credit. Among other things, SBA is
identified by Docket ID No. SBA–2015– licensees to incur third party debt only seeking input from the public with
0009, at www.regulations.gov. on such terms and subject to such regard to the following questions:
Comments may only be submitted at conditions as may be established by the (a) What credit concerns should SBA
this web address; follow the instructions Administrator, by regulation or have regarding an SBIC’s credit facility
on the Web site for submitting otherwise.’’ 15 U.S.C. 683(c). Pursuant if the maximum extension of credit
comments. All comments received will to 13 CFR 107.550, a leveraged SBIC under such a facility is in the amount
be included in the public docket must obtain SBA’s prior written of $10 million or less?
Lhorne on DSK7TPTVN1PROD with NOTICES
without change and will be available approval before it incurs any secured (b) How frequently, or what percent of
online at www.regulations.gov. All third-party debt. In practice, SBA rarely total dollars or lines of credit, do
submissions, including attachments and approves secured third-party debt lenders provide unsecured credit to
other supporting materials, will become facilities because the collateral for such SBICs in an amount above $10 million?
part of the public record and subject to debt consists of the same assets SBA (c) What are the typical maturity dates
public disclosure. Sensitive information relies on to protect its creditor position. for such credit facilities (e.g., 12 month
and information that you consider to be SBA approval is not required for term) and are they routinely extended?
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Document Created: 2015-12-15 13:17:18
Document Modified: 2015-12-15 13:17:18
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | 06/25/2015. | |
| Contact | A Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW., Suite 6050, Washington, DC 20416. | |
| FR Citation | 80 FR 38498 |
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