Federal Register / Vol. 79, No. 85 / Friday, May 2, 2014 / Rules and Regulations 25003 

1Official Notice is taken of the subsequent 

proceeding (73 FR 14153). 

DEPARTMENT OF AGRICULTURE 

Agricultural Marketing Service 

7 CFR Parts 1005 and 1007 

[Doc. No. AMS–DA–09–0001; AO–388–A17 

and AO–366–A46; DA–05–06–A] 

Milk in the Appalachian and Southeast 

Marketing Areas; Order Amending the 

Orders 

AGENCY: Agricultural Marketing Service, 

USDA. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

transportation credit balancing fund 

provisions and pooling provisions of the 

Appalachian and Southeast orders. 

More than the required number of 

producers for the Appalachian and 

Southeast marketing areas approved the 

issuance of the orders as amended. 

DATES: Effective Date: May 5, 2013. 

FOR FURTHER INFORMATION CONTACT: 

William G. Francis, Order Formulation 

and Enforcement Branch, USDA/AMS/

Dairy Programs, STOP 0231—Room 

2971, 1400 Independence Avenue SW., 

Washington, DC 20250–0231, (202) 720– 

7183, email: william.francis@

ams.usda.gov. 

SUPPLEMENTARY INFORMATION: This final 

rule amends the transportation credit 

balancing fund provisions and pooling 

provisions of the Appalachian and 

Southeast orders. The transportation 

credit assessment rate for the Southeast 

order, adopted on an interim basis in 

this proceeding (71 FR 62377) was 

subsequently increased in a separate 

proceeding (73 FR 14153).1

Accordingly, increases to the Southeast 

order transportation credit assessment 

rate considered in this proceeding are 

no longer addressed. 

Specifically, this decision adopts 

provisions that: 

(1) Establish a variable transportation 

credit mileage rate factor which uses a 

fuel cost adjustor in both orders; 

(2) Increase the Appalachian order’s 

maximum transportation credit 

assessment rate to $0.15 per 

hundredweight (cwt); and 

(3) Establish a zero diversion limit 

standard on loads of milk requesting 

transportation credits. 

Executive Orders 12866 and 13563 

This administrative rule is governed 

by the provisions of sections 556 and 

557 of Title 5 of the United States Code 

and, therefore, is excluded from the 

requirements of Executive Orders 12866 

and 13563. 

Executive Order 12988 

This final rule has been reviewed 

under Executive Order 12988, Civil 

Justice Reform. This rule is not intended 

to have retroactive effect. The 

Agricultural Marketing Agreement Act 

of 1937, as amended (Act) (7 U.S.C. 

601–674), provides that administrative 

proceedings must be exhausted before 

parties may file suit in court. Under 

section 608c(15)(A) of the Act, any 

handler subject to an order may request 

modification or exemption from such 

order by filing with the Department of 

Agriculture (USDA) a petition stating 

that the order, any provision of the 

order, or any obligation imposed in 

connection with the order is not in 

accordance with the law. A handler is 

afforded the opportunity for a hearing 

on the petition. After a hearing, USDA 

would rule on the petition. The Act 

provides that the District Court of the 

United States in any district in which 

the handler is an inhabitant, or has its 

principal place of business, has 

jurisdiction in equity to review USDA’s 

ruling on the petition, provided a bill in 

equity is filed not later than 20 days 

after the date of the entry of the ruling. 

Executive Order 13175 

This rule has been reviewed in 

accordance with Executive Order 13175, 

Consultation and Coordination with 

Indian Tribal Governments. The review 

reveals that this rule will not have 

substantial and direct effects on Tribal 

Governments and will not have 

significant Tribal implications. 

Regulatory Flexibility Act and 

Paperwork Reduction Act 

In accordance with the Regulatory 

Flexibility Act (5 U.S.C. 601–612), the 

Agricultural Marketing Service (AMS) 

has considered the economic impact of 

this action on small entities and has 

certified that this rule will not have a 

significant economic impact on a 

substantial number of small entities. For 

the purpose of the Regulatory Flexibility 

Act, a dairy farm is considered a ‘‘small 

business’’ if it has an annual gross 

revenue of less than $750,000, and a 

dairy products manufacturer is a ‘‘small 

business’’ if it has fewer than 500 

employees. 

For the purposes of determining 

which dairy farms are ‘‘small 

businesses,’’ the $750,000 per year 

criterion was used to establish a 

marketing guideline of 500,000 pounds 

per month. Although this guideline does 

not factor in additional monies that may 

be received by dairy producers, it 

should be an inclusive standard for 

most ‘‘small’’ dairy farmers. For 

purposes of determining a handler’s 

size, if the plant is part of a larger 

company operating multiple plants that 

collectively exceed the 500-employee 

limit, the handler will be considered a 

large business even if the local plant has 

fewer than 500 employees. 

During January 2006, the time of the 

hearing, there were 3,055 dairy farms 

pooled on the Appalachian order (Order 

5) and 3,367 dairy farms pooled on the 

Southeast order (Order 7). Of these, 

2,889 dairy farms (95 percent) in Order 

5 and 3,218 dairy farms (96 percent) in 

Order 7 were considered small 

businesses. 

During January 2006, the time of the 

hearing, there were a total of 37 

handlers operating plants associated 

with the Appalachian order (22 fully 

regulated plants, 11 partially regulated 

plants, 2 producer-handlers and 2 

exempt plants). A total of 52 plants were 

associated with the Southeast order (31 

fully regulated plants, 9 partially 

regulated plants and 12 exempt plants). 

The number of plants meeting the small 

business criteria under the Appalachian 

and Southeast orders were 9 (24 

percent) and 18 (35 percent), 

respectively. 

The amendments adopted in this rule 

revise the transportation credit 

provisions of the Appalachian and 

Southeast orders. The Appalachian and 

Southeast orders contain provisions for 

a transportation credit balancing fund. 

To partially offset the costs of 

transporting supplemental milk into 

each marketing area to meet fluid milk 

demand at distributing plants during the 

months of July through December, 

handlers are charged an assessment 

year-round to generate revenue used to 

make payments to qualified handlers. 

The adopted amendments establish a 

variable mileage rate factor that will be 

adjusted monthly by changes in the 

price of diesel fuel (a fuel cost adjustor) 

as reported by the Department of Energy 

for paying claims from the 

transportation credit balancing funds of 

the Appalachian and Southeast orders. 

Prior to their interim adoption, the 

mileage rate of both orders was fixed at 

$0.35 per cwt per mile. 

The adopted amendments increase 

the transportation credit assessment rate 

for the Appalachian order. Specifically, 

the maximum assessment rate for the 

Appalachian order is increased to $0.15 

per cwt. The transportation credit 

assessment rate for the Southeast order 

is increased by actions taken in a 

separate rulemaking (73 FR 14153). The 

higher assessment rate is intended to 

minimize the proration and depletion of 


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25004 Federal Register / Vol. 79, No. 85 / Friday, May 2, 2014 / Rules and Regulations 

the order’s transportation credit 

balancing fund during those months 

when supplemental milk is needed. The 

higher assessment rate for the 

Appalachian order adopted in this 

decision is necessary due to expected 

higher mileage reimbursement rates 

arising from escalating fuel costs, the 

transporting of milk over longer 

distances and the expected continuing 

need to rely on supplemental milk 

supplies arising from declining local 

milk production in the marketing areas. 

The transportation credit assessment 

rate for the Southeast order was 

increased from $0.10 per cwt to $0.20 

per cwt on an interim basis (71 FR 

62377). Subsequent to this increase, a 

separate rulemaking affecting the 

Southeast order proposed an additional 

increase in the assessment rate to $0.30 

per cwt. A final decision (79 FR 12985), 

published March 7, 2014, describes the 

record evidence supporting a $0.30 per 

cwt transportation credit assessment 

rate. The $0.30 per cwt assessment rate 

was adopted on an interim basis (73 FR 

14153) effective March 18, 2008. Since 

these separate decisions address the 

higher assessment rate, there is no 

further consideration to this issue in 

this proceeding. 

The adopted amendments also amend 

the Producer milk provisions of the 

Appalachian and Southeast orders by 

eliminating the pooling of diverted milk 

associated with supplemental milk 

receiving a transportation credit 

payment. Prior to amendments adopted 

on an interim basis, the Appalachian 

and Southeast orders provided 

transportation credits on supplemental 

shipments of milk for Class I use 

provided the milk was from dairy 

farmers who are not defined as a 

‘‘producer’’ under the orders. A 

producer under the order is defined as 

a dairy farmer who: (1) During the 

immediately preceding months of 

March through May and not more than 

50 percent of the milk production of the 

dairy farmer, in aggregate, is received as 

producer milk by either order during 

those 3 months; and (2) produced milk 

on a farm not located within the 

specified marketing areas of either 

order. The provisions of each order 

provide the market administrator the 

discretionary authority to adjust the 50 

percent milk production standard to 

assure orderly marketing and efficient 

handling of milk in the marketing areas. 

Adoption of the amendments will be 

applied to all Appalachian and 

Southeast order handlers and producers, 

which consist of both large and small 

businesses. The adopted amendments 

will affect all producers and handlers 

equally regardless of their size. 

Accordingly, the amendments will not 

have a significant economic impact on 

a substantial number of small entities. 

A review of reporting requirements 

was completed under the Paperwork 

Reduction Act of 1995 (44 U.S.C. 

Chapter 35). It was determined that 

these amendments would have no 

impact on reporting, recordkeeping, or 

other compliance requirements because 

they would remain identical to the 

current requirements. No new forms are 

proposed and no additional reporting 

requirements would be necessary. 

E-Government Act 

The Agricultural Marketing Service 

(AMS) is committed to complying with 

the E-Government Act, to promote the 

use of the Internet and other 

information technologies to provide 

increase opportunities for citizen access 

to Government information and 

services, and for other purposes. 

Prior Documents in This Proceeding 

Notice of Hearing: Issued December 

22, 2005; published December 28, 2005 

(70 FR 76718). 

Tentative Partial Decision: Issued 

September 1, 2006; published 

September 13, 2006 (71 FR 54118). 

Interim Final Rule: Issued October 19, 

2006; published October 25, 2006 (71 

FR 62377). 

Final Partial Decision: Issued 

February 25, 2014; published March 7, 

2014 (79 FR 12985). 

Findings and Determinations 

The findings and determinations 

hereinafter set forth supplement those 

that were made when the Appalachian 

and Southeast orders were first issued 

and when they were amended. The 

previous findings and determinations 

are hereby ratified and confirmed, 

except where they may conflict with 

those set forth herein. 

The following findings are hereby 

made with respect to the Appalachian 

and Southeast orders: 

(a) Findings upon the basis of the 

hearing record. Pursuant to the 

provisions of the Agricultural Marketing 

Agreement Act of 1937, as amended (7 

U.S.C. 601–674), and the applicable 

rules of practice and procedure 

governing the formulation of marketing 

agreements and marketing orders (7 CFR 

part 900), a public hearing was held in 

regard to certain proposed amendments 

to the tentative marketing agreement 

and to the order regulating the handling 

of milk in the Appalachian and 

Southeast marketing areas. 

Upon the basis of the evidence 

introduced at such hearing and the 

record thereof it is found that: 

(1) The Appalachian and Southeast 

orders, as hereby amended, and all of 

the terms and conditions thereof, will 

tend to effectuate the declared policy of 

the Act; 

(2) The parity prices of milk, as 

determined pursuant to section 2 of the 

Act, are not reasonable in view of the 

price of feed, available supplies of feed, 

and other economic conditions which 

affect market supply and demand for 

milk in the marketing area, and the 

minimum prices specified in the orders, 

as hereby amended, are such prices as 

will reflect the aforesaid factors, insure 

a sufficient quantity of pure and 

wholesome milk, and be in the public 

interest; and 

(3) The Appalachian and Southeast 

orders, as hereby amended, regulate the 

handling of milk in the same manner as, 

and is applicable only to persons in the 

respective classes of industrial and 

commercial activity specified in, a 

marketing agreement upon which a 

hearing has been held. 

The amendments to these orders are 

known to handlers. A final partial 

decision containing the proposed 

amendments to these orders was issued 

on February 25, 2014. An interim final 

rule adopting these transportation credit 

balancing fund and diversion limit 

standards on an interim basis was 

issued on October 19, 2006, and 

published on October 25, 2006 (71 FR 

62377). 

Accordingly, the changes that result 

from these amendments will not require 

extensive preparation or substantial 

alteration in the method of operation for 

handlers. In view of the foregoing, it is 

hereby found and determined that good 

cause exists for making these order 

amendments effective May 5, 2014. It 

would be contrary to the public interest 

to delay the effective date of these 

amendments for 30 days after their 

publication in the Federal Register. 

(Sec. 553(d), Administrative Procedure 

Act, 5 U.S.C. 551–559.) 

(c) Determinations. It is hereby 

determined that: 

(1) The refusal or failure of handlers 

(excluding cooperative associations 

specified in Sec. 8c(9) of the Act) of 

more than 50 percent of the milk that is 

marketed within the specified marketing 

area to sign a proposed marketing 

agreement tends to prevent the 

effectuation of the declared policy of the 

Act; 

(2) The issuance of the order 

amending the Appalachian and 

Southeast orders is the only practical 

means pursuant to the declared policy 

of the Act of advancing the interests of 

producers as defined in the order as 

hereby amended; 


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Federal Register / Vol. 79, No. 85 / Friday, May 2, 2014 / Rules and Regulations 25005 

(3) The issuance of the order 

amending the Appalachian and 

Southeast orders is favored by at least 

two-thirds of the producers who were 

engaged in the production of milk for 

sale in the marketing area. 

List of Subjects in 7 CFR Parts 1005 and 

1007 

Milk marketing orders. 

Order Relative to Handling 

It is therefore ordered, that on and 

after the effective date hereof, the 

handling of milk in the Southeast and 

Appalachian marketing areas shall be in 

conformity to and in compliance with 

the terms and conditions of the orders, 

as amended, and as hereby amended, as 

follows: 

■ 1. The authority citation for 7 CFR 

parts 1005 and 1007 continues to read 

as follows: 

Authority: 7 U.S.C. 601–674, and 7253. 

PART 1005—MILK IN THE 

APPALACHIAN MARKETING AREA 

■ 2. Section 1005.13 is amended by 

revising paragraphs (d)(3) and (d)(4) to 

read as follows: 

§ 1005.13 Producer milk. 

* * * * * 

(d) * * * 

(3) The total quantity of milk so 

diverted during the month by a 

cooperative association shall not exceed 

25 percent during the months of July 

through November, January, and 

February, and 35 percent during the 

months of December and March through 

June, of the producer milk that the 

cooperative association caused to be 

delivered to, and physically received at, 

pool plants during the month, excluding 

the total pounds of bulk milk received 

directly from producers meeting the 

conditions as described in 

§ 1005.82(c)(2)(ii) and (iii), and for 

which a transportation credit is 

requested; 

(4) The operator of a pool plant that 

is not a cooperative association may 

divert any milk that is not under the 

control of a cooperative association that 

diverts milk during the month pursuant 

to paragraph (d) of this section. The 

total quantity of milk so diverted during 

the month shall not exceed 25 percent 

during the months of July through 

November, January, and February, and 

35 percent during the months of 

December and March through June, of 

the producer milk physically received at 

such plant (or such unit of plants in the 

case of plants that pool as a unit 

pursuant to § 1005.7(e)) during the 

month, excluding the quantity of 

producer milk received from a handler 

described in § 1000.9(c) of this chapter 

and excluding the total pounds of bulk 

milk received directly from producers 

meeting the conditions as described in 

§ 1005.82(c)(2)(ii) and (iii), and for 

which a transportation credit is 

requested; 

* * * * * 

■ 3. Section 1005.81 is revised to read 

as follows: 

§ 1005.81 Payments to the transportation 

credit balancing fund. 

(a) On or before the 12th day after the 

end of the month (except as provided in 

§ 1000.90 of this chapter), each handler 

operating a pool plant and each handler 

specified in § 1000.9(c) shall pay to the 

market administrator a transportation 

credit balancing fund assessment 

determined by multiplying the pounds 

of Class I producer milk assigned 

pursuant to § 1005.44 by $0.15 per 

hundredweight or such lesser amount as 

the market administrator deems 

necessary to maintain a balance in the 

fund equal to the total transportation 

credits disbursed during the prior JuneFebruary period. In the event that 

during any month of the June-February 

period the fund balance is insufficient 

to cover the amount of credits that are 

due, the assessment should be based 

upon the amount of credits that would 

had been disbursed had the fund 

balance been sufficient. 

(b) The market administrator shall 

announce publicly on or before the 23rd 

day of the month (except as provided in 

§ 1000.90) the assessment pursuant to 

paragraph (a) of this section for the 

following month. 

■ 4. Section 1005.82 is amended by 

revising paragraphs (d)(2)(ii) and 

(d)(3)(iv) to read as follows: 

§ 1005.82 Payments from the 

transportation credit balancing fund. 

* * * * * 

(d) * * * 

(2) * * * 

(ii) Multiply the number of miles so 

determined by the mileage rate for the 

month computed pursuant to 

§ 1005.83(a)(6); 

* * * * * 

(3) * * * 

(iv) Multiply the remaining miles so 

computed by the mileage rate for the 

month computed pursuant to 

§ 1005.83(a)(6); 

* * * * * 

■ 5. Revise § 1005.83 to read as follows: 

§ 1005.83 Mileage rate for the 

transportation credit balancing fund. 

(a) The market administrator shall 

compute a mileage rate each month as 

follows: 

(1) Compute the simple average 

rounded to three decimal places for the 

most recent four (4) weeks of the Diesel 

Price per Gallon as reported by the 

Energy Information Administration of 

the United States Department of Energy 

for the Lower Atlantic and Gulf Coast 

Districts combined. 

(2) From the result in paragraph (a)(1) 

in this section subtract $1.42 per gallon; 

(3) Divide the result in paragraph 

(a)(2) of this section by 5.5, and round 

down to three decimal places to 

compute the fuel cost adjustment factor; 

(4) Add the result in paragraph (a)(3) 

of this section to $1.91; 

(5) Divide the result in paragraph 

(a)(4) of this section by 480; 

(6) Round the result in paragraph 

(a)(5) of this section down to five 

decimal places to compute the mileage 

rate. 

(b) The market administrator shall 

announce publicly on or before the 23rd 

day of the month (except as provided in 

§ 1000.90 of this chapter) the mileage 

rate pursuant to paragraph (a) of this 

section for the following month. 

PART 1007—MILK IN THE SOUTHEAST 

MARKETING AREA 

■ 6. Section 1007.13 is amended by 

revising paragraphs (d)(3) and (d)(4) to 

read as follows: 

§ 1007.13 Producer milk. 

* * * * * 

(d) * * * 

(3) The total quantity of milk diverted 

during the month by a cooperative 

association shall not exceed 25 percent 

during the months of July through 

November, January, and February, and 

35 percent during the months of 

December and March through June, of 

the producer milk that the cooperative 

association caused to be delivered to, 

and physically received at, pool plants 

during the month, excluding the total 

pounds of bulk milk received directly 

from producers meeting the conditions 

as described in § 1007.82(c)(2)(ii) and 

(iii), and for which a transportation 

credit is requested; 

(4) The operator of a pool plant that 

is not a cooperative association may 

divert any milk that is not under the 

control of a cooperative association that 

diverts milk during the month pursuant 

to paragraph (d) of this section. The 

total quantity of milk so diverted during 

the month shall not exceed 25 percent 

during the months of July through 


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25006 Federal Register / Vol. 79, No. 85 / Friday, May 2, 2014 / Rules and Regulations 

November, January and February, and 

35 percent during the months of 

December and March through June of 

the producer milk physically received at 

such plant (or such unit of plants in the 

case of plants that pool as a unit 

pursuant to § 1007.7(e)) during the 

month, excluding the quantity of 

producer milk received from a handler 

described in § 1000.9(c) of this chapter, 

excluding the total pounds of bulk milk 

received directly from producers 

meeting the conditions as described in 

§ 1007.82(c)(2)(ii) and (iii), and for 

which a transportation credit is 

requested. 

* * * * * 

■ 7. Section 1007.81 is amended by 

revising paragraph (b) to read as follows: 

§ 1007.81 Payments to the transportation 

credit balancing fund. 

* * * * * 

(b) The market administrator shall 

announce publicly on or before the 23rd 

day of the month (except as provided in 

§ 1000.90 of this chapter) the assessment 

pursuant to paragraph (a) of this section 

for the following month. 

■ 8. Section 1007.82 is amended by 

revising paragraphs (d)(2)(ii) and 

(d)(3)(iv) to read as follows: 

§ 1007.82 Payments from the 

transportation credit balancing fund. 

* * * * * 

(d) * * * 

(2) * * * 

(ii) Multiply the number of miles so 

determined by the mileage rate for the 

month computed pursuant to 

§ 1007.83(a)(6); 

* * * * * 

(3) * * * 

(iv) Multiply the remaining miles so 

computed by the mileage rate for the 

month computed pursuant to 

§ 1007.83(a)(6); 

* * * * * 

■ 9. Revise § 1007.83 to read as follows: 

§ 1007.83 Mileage rate for the 

transportation credit balancing fund. 

(a) The market administrator shall 

compute the mileage rate each month as 

follows: 

(1) Compute the simple average 

rounded to three decimal places for the 

most recent 4 weeks of the Diesel Price 

per Gallon as reported by the Energy 

Information Administration of the 

United States Department of Energy for 

the Lower Atlantic and Gulf Coast 

Districts combined. 

(2) From the result in paragraph (a)(1) 

in this section subtract $1.42 per gallon; 

(3) Divide the result in paragraph 

(a)(2) of this section by 5.5, and round 

down to three decimal places to 

compute the fuel cost adjustment factor; 

(4) Add the result in paragraph (a)(3) 

of this section to $1.91; 

(5) Divide the result in paragraph 

(a)(4) of this section by 480; 

(6) Round the result in paragraph 

(a)(5) of this section down to five 

decimal places to compute the mileage 

rate. 

(b) The market administrator shall 

announce publicly on or before the 23rd 

day of the month (except as provided in 

§ 1000.90 of this chapter) the mileage 

rate pursuant to paragraph (a) of this 

section for the following month. 

Dated: April 28, 2014. 

Rex A. Barnes, 

Associate Administrator, Agricultural 

Marketing Service. 

[FR Doc. 2014–10031 Filed 5–1–14; 8:45 am] 

BILLING CODE 3410–02–P 

FEDERAL HOUSING FINANCE 

AGENCY 

12 CFR Part 1238 

[No. 2014–N–7] 

Orders: Supplemental Orders on 

Reporting by Regulated Entities of 

Stress Testing Results as of 

September 30, 2013 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Orders. 

SUMMARY: In this document, the Federal 

Housing Finance Agency (FHFA) 

provides notice that it issued Orders to 

supplement its Orders dated November 

26, 2013 and December 13, 2013, with 

respect to the Federal National Mortgage 

Association and Federal Home Loan 

Mortgage Corporation reporting results 

under section 165(i)(2) of the DoddFrank Wall Street Reform and Consumer 

Protection Act (Dodd-Frank Act). 

DATES: Effective May 2, 2014. Each 

Order is applicable April 28, 2014. 

FOR FURTHER INFORMATION CONTACT: Naa 

Awaa Tagoe, Senior Associate Director, 

Office of Financial Analysis, Modeling 

and Simulations, (202) 649–3140, 

naaawaa.tagoe@fhfa.gov; Stefan 

Szilagyi, Examination Manager, 

FHLBank Modeling, FHLBank Risk 

Modeling Branch, (202) 649–3515, 

stefan.szilagy@fhfa.gov; or Mark D. 

Laponsky, Deputy General Counsel, 

Office of General Counsel, (202) 649– 

3054 (these are not toll-free numbers), 

mark.laponsky@fhfa.gov. The telephone 

number for the Telecommunications 

Device for the Hearing Impaired is (800) 

877–8339. 

SUPPLEMENTARY INFORMATION: 

I. Background 

FHFA is responsible for ensuring that 

the regulated entities operate in a safe 

and sound manner, including the 

maintenance of adequate capital and 

internal controls, that their operations 

and activities foster liquid, efficient, 

competitive, and resilient national 

housing finance markets, and that they 

carry out their public policy missions 

through authorized activities. See 12 

U.S.C. 4513. These Supplemental 

Orders are being issued under 12 U.S.C. 

4514(a), which authorizes the Director 

of FHFA to require by Order that the 

regulated entities submit regular or 

special reports to FHFA and establishes 

remedies and procedures for failing to 

make reports required by Order. The 

Supplemental Orders provide to the 

Federal National Mortgage Association 

and the Federal Home Loan Mortgage 

Corporation a revised template to use in 

reporting to the public the severely 

adverse results of their respective stress 

tests. 

II. Orders 

For the convenience of the affected 

parties, the text of the Orders, without 

appendices, follows below in its 

entirety. You may access these Orders 

with Appendices 11 and 12 from 

FHFA’s Web site at http://www.fhfa.gov/ 

Media/PublicAffairs/Pages/FHFAIssues-Scenarios-and-Guidance-toFannieMae,-Freddie-Mac-and-theFederal-Home-Loan-Banks-RegardingAnnual-Dodd-Frank-St.aspx. The 

Orders will be available for public 

inspection and copying at the Federal 

Housing Finance Agency, Eighth Floor, 

400 Seventh St. SW., Washington, DC 

20024. To make an appointment, call 

(202) 649–3804. 

The text of the Supplemental Orders 

is as follows: 

Federal Housing Finance Agency 

Order Nos. 2014–OR–FNMA–1, and 

2014–OR–FHLMC–1 

SUPPLEMENTAL ORDER ON 

REPORTING BY REGULATED 

ENTITIES OF STRESS TESTING 

RESULTS AS OF SEPTEMBER 30, 2013 

Whereas, section 165(i)(2) of the 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act (‘‘Dodd-Frank 

Act’’) requires certain financial 

companies with total consolidated 

assets of more than $10 billion, and 

which are regulated by a primary 

Federal financial regulatory agency, to 

conduct annual stress tests to determine 

whether the companies have the capital 


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