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USDA REQUESTS PUBLIC COMMENTS ON POTENTIAL CHANGES TO THE GSM-102 AND GSM-103 EXPORT CREDIT GUARANTEE PROGRAMS

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
Stop 1035
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

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PR 0489-97



 
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