80_FR_38626 80 FR 38498 - Nebraska Disaster #NE-00065

80 FR 38498 - Nebraska Disaster #NE-00065

SMALL BUSINESS ADMINISTRATION

Federal Register Volume 80, Issue 128 (July 6, 2015)

Page Range38498-38499
FR Document2015-16428

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.

Federal Register, Volume 80 Issue 128 (Monday, July 6, 2015)
[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]


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SMALL BUSINESS ADMINISTRATION

[Disaster Declaration #14359 and #14360]


Nebraska Disaster #NE-00065

AGENCY: U.S. Small Business Administration.

ACTION: Notice.

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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
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
Dates06/25/2015.
ContactA Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW., Suite 6050, Washington, DC 20416.
FR Citation80 FR 38498 

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