16158 Federal Register / Vol. 62, No. 65 / Friday, April 4, 1997 / Notices

March 7, 1997, and related

determinations.

EFFECTIVE DATE: March 25, 1997.

FOR FURTHER INFORMATION CONTACT:

Magda Ruiz, Response and Recovery

Directorate, Federal Emergency

Management Agency, Washington, DC

20472, (202) 646–3260.

SUPPLEMENTARY INFORMATION: The notice

of a major disaster for the State of

Tennessee, is hereby amended to

include Categories C through G under

the Public Assistance program in those

areas determined to have been adversely

affected by the catastrophe declared a

major disaster by the President in his

declaration of March 7, 1997:

The counties of Carroll, Cheatham, Dyer,

Houston, Lauderdale, Madison, Obion,

Stewart, and Weakley for Categories C

through G under the Public Assistance

program (already designated for Individual

Assistance, Hazard Mitigation, and

Categories A and B under the Public

Assistance program).

(Catalog of Federal Domestic Assistance No.

83.516, Disaster Assistance.)

Lacy E. Suiter,

Executive Associate Director, Response and

Recovery Directorate.

[FR Doc. 97–8666 Filed 4–3–97; 8:45 am]

BILLING CODE 6718–02–P

FEDERAL FINANCIAL INSTITUTIONS

EXAMINATION COUNCIL

U.S. Government Guaranteed Loans

and Sale Premiums; Rescission of

Policy Statement

AGENCY: Federal Financial Institutions

Examination Council (FFIEC).

ACTION: Rescission of policy statement.

SUMMARY: FFIEC has rescinded its

policy statement on the Sale of U.S.

Government Guaranteed Loans and Sale

Premiums (Policy Statement), issued on

November 29, 1979. The Policy

Statement provided guidance to insured

depository institutions purchasing or

selling loans guaranteed by the U.S.

government. The FFIEC rescinded the

Policy Statement because it is outdated.

DATES: This Policy Statement was

rescinded effective December 5, 1996.

FOR FURTHER INFORMATION CONTACT:

Federal Deposit Insurance Corporation

(FDIC): William A. Stark, Assistant

Director, (202/898–6972), Kenton Fox,

Senior Capital Markets Specialist, (202/

898–7119), Division of Supervision;

Jamey Basham, Counsel, (202/898–

7265), Legal Division, Federal Deposit

Insurance Corporation, 550 17th Street,

NW., Washington, DC 20429.

Office of Thrift Supervision (OTS):

Donna Deale, Manager, (202/906–7488),

Supervision Policy, Office of Thrift

Supervision, 1700 G Street, NW.,

Washington, DC 20552.

Office of the Comptroller of the

Currency (OCC): Tom Rollo, National

Bank Examiner, (202/874–5070), Office

of the Chief National Bank Examiner,

Office of the Comptroller of the

Currency, 250 E Street SW.,

Washington, DC 20219.

Board of Governors of the Federal

Reserve System (FRB): Susan Meyers,

Senior Securities Analyst, (202/452–

2781), Division of Banking Supervision

and Regulation, Board of Governors of

the Federal Reserve System, 20th and C

Streets NW., Washington, DC 20551.

SUPPLEMENTARY INFORMATION: FFIEC

consists of representatives from the

FDIC, OTS, OCC, FRB, and National

Credit Union Administration (NCUA).

FFIEC developed the Policy Statement

to provide general supervisory guidance

to insured depository institutions that

originate, purchase, or sell loans

guaranteed by the U.S. government. The

Policy Statement also provided

guidance on the accounting treatment of

servicing fees and premiums associated

with these loans. FFIEC originally

adopted the Policy Statement on

November 29, 1979, and the Federal

Home Loan Bank Board (the OTS’

predecessor), FDIC, OCC, and FRB

federal banking agencies) each adopted

the Policy Statement shortly thereafter.

FFIEC adopted certain amendments to

the Policy Statement on March 22, 1985,

which were subsequently adopted by

the federal banking agencies.

On December 5, 1996, FFIEC voted to

rescind the Policy Statement. Since the

Policy Statement was adopted, the

market in government-guaranteed loans

has become well established, and

insured depository institutions have

gained experience in dealing in this

market. The supervisory guidance

contained in the Policy Statement,

which is very general in nature, is no

longer necessary. Additionally, the

accounting guidance in the Policy

Statement is adequately addressed in

the Instructions for Preparing Reports of

Condition and Income and the

Consolidated Statement of Condition of

the Thrift Financial Report, and

subsequent accounting pronouncements

including Financial Accounting

Standards Board Statement 91,

Accounting for Nonrefundable Fees and

Costs Associated with Originating or

Acquiring Loans and Initial Direct Costs

of Leases.

For the above reasons, the Policy

Statement has been rescinded. Each of

the federal banking agencies will take

appropriate action in connection with

the recision of the Policy Statement.

Dated at Washington, DC, this 31st day of

March, 1997.

Federal Financial Institutions Examination

Council,

Joe M. Cleaver,

Executive Secretary.

[FR Doc. 97–8569 Filed 4–3–97; 8:45 am]

BILLING CODE 6210–01–P FRB, 6720–01–P OTS, 6714–

01–P FDIC, 4810–33–P OCC

FEDERAL MARITIME COMMISSION

Notice of Agreement(s) Filed

The Commission hereby gives notice

of the filing of the following

agreement(s) under the Shipping Act of

1984.

Interested parties can review or obtain

copies of agreements at the Washington,

DC offices of the Commission, 800

North Capitol Street, N.W., Room 962.

Interested parties may submit comments

on an agreement to the Secretary,

Federal Maritime Commission,

Washington, DC 20573, within 10 days

of the date this notice appears in the

Federal Register.

Agreement No.:

202–011259–012.

Title:

United States/Southern and Eastern

Africa Conference.

Parties:

Empresa De Navegacao Internacional

(Navinter) Lykes Bros. Steamship

Co., Inc. Mediterranean Shipping

Company S.A. Safbank Line, Ltd.

(Safbank) Wilhelmsen Lines A/S.

Synopsis:

The proposed amendment restates the

Agreement and deletes Eastern

Africa from the geographic scope of

the Agreement. It also makes

changes to the Agreement’s name

and various Agreement articles to

reflect this change. The parties have

requested a shortened review

period.

By Order of the Federal Maritime

Commission.

Dated: April 1, 1997.

Joseph C. Polking,

Secretary.

[FR Doc. 97–8634 Filed 4–3–97; 8:45 am]

BILLING CODE 6730–01–M

[Docket No. 97–06]

Shipman International (Taiwan) Ltd.;

Possible Violations of Sections 8,

10(a)(1) and 10(b)(1) of the Shipping

Act of 1984 and 46 C.F.R. Part 514

Order of Investigation and Hearing

Shipman International (Taiwan) Ltd.

(‘‘Shipman International’’) is a tariffed