WASHINGTON, Aug. 18, 1997--The U.S. Department of Agriculture
today published a notice requesting comments from the public on
potential changes to the GSM-102 and GSM-103 export credit
guarantee programs, according to Christopher E. Goldhwait,
general sales manager of USDA's Foreign Agriculural Service. The
advanced notice of proposed rulemaking appears in the August 15,
1997, Federal Register (Vol. 61, No. 158, page 43675).
One change discussed is that the Commodity Credit Corporation
would guarantee sight letters of credit issued by eligible
foreign banks that do not include deferred payment terms. Another
change discussed is that CCC would guarantee payment of the
obligations of eligible foreign banks arising out of transactions
not involving an export letter of credit.
The potential changes would affect the regulations found at
Subpart A of 7 CFR part 1493. Commenters should be familiar with
those regulations and should address how the benefits of the
potential changes would be measured, how functions and services
performed by the private sector might be affected, and whether
changes would be cost effective.
Comments on the regulations should be sent to the following
address by Sept. 15, 1997.
L.T. McElvain, Director
CCC Operations Division
Foreign Agricultural Service
U.S. Department of Agriculture
Washington, DC 20250-1035
Fax messages may be sent to (202) 720-2949. The telephone
number is (202) 720-6211. Persons with disabilities who require
alternative means for communication of program information should
contact the USDA Office of Communications at (202) 720-5881
(voice) or (202) 720-7808 (TDD).
The notice and other information about CCC and USDA programs,
resources, and services are available on the FAS Home Page at http://www.fas.usda.gov