Federal Register / Vol. 83, No. 160 / Friday, August 17, 2018 / Notices 41139 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for the State of Hawaii, 

dated 06/14/2018, is hereby amended to 

extend the deadline for filing 

applications for physical damages as a 

result of this disaster to 09/12/2018. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

James Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2018–17745 Filed 8–16–18; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

Changes to SBA Secondary Market 

Program 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of changes to Secondary 

Market Program. 

SUMMARY: The purpose of this Notice is 

to provide the public with notification 

of program changes to SBA’s Secondary 

Market Loan Pooling Program. 

Specifically, SBA is increasing the 

minimum maturity ratio for both SBA 

Standard Pools and Weighted-Average 

Coupon (WAC) Pools by 1.0%, to 

95.0%. The changes described in this 

Notice are being made to ensure that 

there are sufficient funds to cover the 

estimated cost of the timely payment 

guaranty for newly formed SBA 7(a) 

loan pools. The changes in this Notice 

will be incorporated, as needed, into the 

SBA Secondary Market Program Guide 

and all other appropriate SBA 

Secondary Market documents. 

DATES: The changes will apply to SBA 

7(a) loan pools with an issue date on or 

after October 1, 2018. 

ADDRESSES: Address comments 

concerning this Notice to John M. Wade, 

Chief Secondary Market Division, U.S. 

Small Business Administration, 409 3rd 

Street SW, Washington, DC 20416, or 

john.wade@sba.gov. 

FOR FURTHER INFORMATION CONTACT: John 

M. Wade, Chief, Secondary Market 

Division, U.S. Small Business 

Administration, 409 3rd Street SW, 

Washington, DC 20416, 202–205–3647, 

or john.wade@sba.gov. 

SUPPLEMENTARY INFORMATION: The 

Secondary Market Improvements Act of 

1984 authorized SBA to guarantee the 

timely payment of principal and interest 

on Pool Certificates. A Pool Certificate 

represents a fractional undivided 

interest in a ‘‘Pool,’’ which is an 

aggregation of SBA guaranteed portions 

of loans made by SBA Lenders under 

section 7(a) of the Small Business Act, 

15 U.S.C. 636(a). In order to support the 

timely payment guaranty requirement, 

SBA established the Master Reserve 

Fund (‘‘MRF’’), which serves as a 

mechanism to cover the cost of SBA’s 

timely payment guaranty. Borrower 

payments on the guaranteed portions of 

pooled loans, as well as SBA guaranty 

payments on defaulted pooled loans, are 

deposited into the MRF. Funds are held 

in the MRF until distributions are made 

to investors (‘‘Registered Holders’’) of 

Pool Certificates. The interest earned on 

the borrower payments and the SBA 

guaranty payments deposited into the 

MRF supports the timely payments 

made to Registered Holders. 

From time to time, SBA provides 

guidance to SBA Pool Assemblers on 

the required loan and pool 

characteristics necessary to form a Pool. 

These characteristics include, among 

other things, the minimum number of 

guaranteed portions of loans required to 

form a Pool, the allowable difference 

between the highest and lowest gross 

and net note rates of the guaranteed 

portions of loans in a Pool, and the 

minimum maturity ratio of the 

guaranteed portions of loans in a Pool. 

The minimum maturity ratio is equal to 

the ratio of the shortest and the longest 

remaining term to maturity of the 

guaranteed portions of loans in a Pool. 

On October 1, 2017, SBA increased 

the minimum maturity ratio for both 

SBA Standard Pools and WeightedAverage Coupon (WAC) Pools to 94.0%. 

Based on SBA’s expectations as to the 

performance of future Pools, SBA has 

determined that, in order to support the 

costs associated with SBA’s Secondary 

Market Loan Pooling Program, it is 

necessary to further increase the 

minimum maturity ratio—in other 

words, to reduce the difference between 

the shortest and the longest remaining 

term of the guaranteed portions of loans 

in a Pool. SBA does not expect a 1 

percentage point increase in the 

minimum maturity ratio to have an 

adverse impact on either the program or 

the participants in the program. SBA 

has monitored Pools formed over the 

last 18 months and has observed that 

many existing Pools have a minimum 

maturity ratio of at least 95.0%. 

A higher minimum maturity ratio will 

decrease the difference between the 

amortization rates of the guaranteed 

portions of loans in a Pool. This will 

cause the cash flows from the 

guaranteed portions of loans in the Pool 

to be more homogenous, and will more 

closely match the amortization rate of 

the Pool Certificate. This is the primary 

driver in reducing the cost of SBA’s 

timely payment guaranty on Pool 

Certificates. Therefore, effective October 

1, 2018, all guaranteed portions of loans 

in a Pool presented for settlement with 

SBA’s Fiscal Transfer Agent will be 

required to have a minimum maturity 

ratio of at least 95% for Standard Pools 

and WAC Pools. SBA is making this 

change pursuant to Section 5(g)(2) of the 

Small Business Act, 15 U.S.C. 634(g)(2). 

SBA will continue to monitor loan 

and pool characteristics and will 

provide notification of additional 

changes as necessary. It is important to 

note that there is no change to SBA’s 

obligation to honor its guaranty of the 

amounts owed to Registered Holders of 

Pool Certificates and that such guaranty 

continues to be backed by the full faith 

and credit of the United States. 

This program change will be 

incorporated as necessary into SBA’s 

Secondary Market Guide and all other 

appropriate SBA Secondary Market 

documents. As indicated above, this 

change will be effective for Pools with 

an issue date on or after October 1, 

2018, and will modify any previous 

guidance regarding the minimum 

maturity ratio for Standard Pools or 

WAC Pools. 

John A. Miller, 

Deputy Associate Administrator, Office of 

Capital Access. 

[FR Doc. 2018–17726 Filed 8–16–18; 8:45 am] 

BILLING CODE 8025–01–P 

DEPARTMENT OF STATE 

[Public Notice: 10507] 

E.O. 13224 Designation of Qassim 

Abdullah Ali Ahmed, aka Qassim alMuamen, aka Qassim Al Muamen, aka 

Qassim Abdullah Ali, aka Qassim 

Abdullah as a Specially Designated 

Global Terrorist 

Acting under the authority of and in 

accordance with section 1(b) of 

Executive Order 13224 of September 23, 

2001, as amended by Executive Order 

13268 of July 2, 2002, and Executive 

Order 13284 of January 23, 2003, I 

hereby determine that the person known 

as Qassim Abdullah Ali Ahmed, aka 

Qassim al-Muamen, aka Qassim Al 

Muamen, aka Qassim Abdullah Ali, aka 

Qassim Abdullah, committed, or poses 

a significant risk of committing, acts of 

terrorism that threaten the security of 

U.S. nationals or the national security, 

foreign policy, or economy of the United 

States. Consistent with the 

determination in section 10 of Executive 

Order 13224 that prior notice to persons 

determined to be subject to the Order 


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