This section of the FEDERAL REGISTER

contains notices to the public of the proposed

issuance of rules and regulations. The

purpose of these notices is to give interested

persons an opportunity to participate in the

rule making prior to the adoption of the final

rules.

Proposed Rules Federal Register

27912

Vol. 66, No. 98

Monday, May 21, 2001

DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Parts 1773

RIN 0572–AB66

Policy on Audits of RUS Borrowers;

Management Letter

AGENCY: Rural Utilities Service, USDA.

ACTION: Proposed rule.

SUMMARY: The Rural Utilities Service

(RUS) is proposing to amend its

regulations by revising certain

requirements regarding the management

letter to be provided to RUS by certified

public accountants (CPAs) as part of

audits of RUS borrowers.

In the final rule section of this

Federal Register, RUS is publishing this

action as a direct final rule without

prior proposal because RUS views this

as a non-controversial action and

anticipates no adverse comments. If no

adverse comments are received in

response to the direct final rule, no

further action will be taken on this

proposed rule and the action will

become effective at the time specified in

the direct final rule. If RUS receives

adverse comments, a timely document

will be published withdrawing the

direct final rule and all public

comments received will be addressed in

a subsequent final rule based on this

action. Any parties interested in

commenting on this proposed action

should do so at this time.

DATES: Comments on this proposed

action must be received on or before

June 20, 2001.

ADDRESSES: Submit adverse comments

or notice of intent to submit adverse

comments to F. Lamont Heppe, Jr.,

Director, Program Development and

Regulatory Analysis, Staff, Rural

Utilities Service, U.S. Department of

Agriculture, 1400 Independence Ave.,

SW., STOP 1522, Washington, DC

20250–1522. RUS requests a signed

original and three copies of all

comments (7 CFR 1700.4). All

comments received will be made

available for public inspection at room

4030, South Building, Washington, DC,

between the 8 a.m. and 4 p.m. (7 CFR

part 1.27(b)).

FOR FURTHER INFORMATION CONTACT:

Richard Annan, Chief, Technical

Accounting and Auditing Staff, Program

Accounting Services Division, Rural

Utilities Service, U.S. Department of

Agriculture, 1400 Independence Ave.,

SW., STOP 1523, Washington, DC

20250–1523. Telephone: 202–720–5227.

SUPPLEMENTARY INFORMATION: See the

Supplementary Information provided in

the direct final rule located in the final

rule section of this Federal Register for

the applicable supplementary

information on this action.

Dated: May 8, 2001.

Blaine D. Stockton,

Acting Administrator, Rural Utilities Service.

[FR Doc. 01–12130 Filed 5–18–01; 8:45 am]

BILLING CODE 3410–15–P

DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Parts 1773

RIN 0572–AB62

Policy on Audits of RUS Borrowers;

Generally Accepted Government

Auditing Standards (GAGAS)

AGENCY: Rural Utilities Service, USDA.

ACTION: Proposed rule.

SUMMARY: The Rural Utilities Service

(RUS) is proposing to amend its

regulations to include in its audit

requirements for electric and

telecommunications borrowers recent

amendments to the Generally Accepted

Government Auditing Standards

(GAGAS) issued by the Government

Accounting Office (GAO) and to make

other minor changes and corrections.

In the final rule section of this

Federal Register, RUS is publishing this

action as a direct final rule without

prior proposal because RUS views this

as a non-controversial action and

anticipates no adverse comments. If no

adverse comments are received in

response to the direct final rule, no

further action will be taken on this

proposed rule and the action will

become effective at the time specified in

the direct final rule. If RUS receives

adverse comments, a timely document

will be published withdrawing the

direct final rule and all public

comments received will be addressed in

a subsequent final rule based on this

action. Any parties interested in

commenting on this proposed action

should do so at this time.

DATES: Comments on this proposed

action must be received on or before

June 20, 2001.

ADDRESSES: Submit adverse comments

or notice of intent to submit adverse

comments to F. Lamont Heppe, Jr.,

Director, Program Development and

Regulatory Analysis, Staff, Rural

Utilities Service, U.S. Department of

Agriculture, 1400 Independence Ave.,

SW., STOP 1522, Washington, DC

20250–1522. RUS requests a signed

original and three copies of all

comments (7 CFR 1700.4). All

comments received will be made

available for public inspection at room

4030, South Building, Washington, DC,

between the 8 a.m. and 4 p.m. (7 CFR

part 1.27(b)).

FOR FURTHER INFORMATION CONTACT:

Richard Annan, Chief, Technical

Accounting and Auditing Staff, Program

Accounting Services Division, Rural

Utilities Service, U.S. Department of

Agriculture, 1400 Independence Ave.,

SW., STOP 1523, Washington, DC

20250–1523. Telephone: 202–720–5227.

SUPPLEMENTARY INFORMATION: See the

Supplementary Information provided in

the direct final rule located in the final

rule section of this Federal Register for

the applicable supplementary

information on this action.

Dated: May 8, 2001.

Blaine D. Stockton,

Acting Administrator, Rural Utilities Service.

[FR Doc. 01–12128 Filed 5–18–01; 8:45 am]

BILLING CODE 3410–15–P

FEDERAL RESERVE SYSTEM

12 CFR Chapter II

[Docket No. R–1105]

Study of Banking Regulations

Regarding the Online Delivery of

Financial Services

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Study of regulations; request for

comment.