8524 Federal Register / Vol. 60, No. 31 / Wednesday, February 15, 1995 / Rules and Regulations

persons have an opportunity to

participate and provide input.

The assessment rates recommended

by the Committees are derived by

dividing anticipated expenses by

expected shipments of limes and

avocados (in bushels). Because those

rates are applied to actual shipments,

they must be established at rates which

will produce sufficient income to pay

the Committees’ expected expenses. The

recommended budgets and rates of

assessment are usually acted upon by

the Committees shortly before a season

starts, and expenses are incurred on a

continuous basis. Therefore, the budget

and assessment rate approval must be

expedited so that the Committees will

have funds to pay their expenses.

The Florida Lime Administrative

Committee met on December 14, 1994,

and unanimously recommended 1995–

96 expenses of $92,270. In comparison,

the 1994–95 fiscal year expense amount

was $92,197, which is $73 less in

expenses than the amount

recommended for this fiscal year.

The Committee also unimously

recommended an assessment rate of

$0.16 per 55-pound bushel of limes. The

1995–96 assessment rate remains

unchanged from the previous fiscal

year. Assessment income for 1995–96 is

estimated to total $64,000 based on

anticipated fresh domestic shipments of

400,000 bushels of limes. This, along

with $2,500 in interest income, and a

withdrawl of $25,770 from the

Committee’s reserve fund will be

adequate to cover estimated expenses.

Funds in the reserve at the end of the

1995–96 fiscal year are expected to be

within the maximum permitted by the

order of three fiscal years’ expenses.

Major budget categories for 1995–96

are $34,000 for administrative staff

salaries, $10,000 for research, $8,300 for

compliance, and $7,300 for employee

benefits.

The Avocado Administrative

Committee also met on December 14,

1994, and unanimously recommended

1995–96 expenses of $107,570. In

comparison, 1994–95 fiscal year

expenses were $116,420, which is

$8,850 more than the $107,570

recommended for this fiscal year.

An assessment rate of $0.16 per 55-

pound bushel of avocados was also

unanimously recommended by the

Committee. The 1995–96 rate of

assessment remains the same as the

previous fiscal year. Assessment income

for 1995–96 is estimated to total

$112,000 based on anticipated fresh

domestic shipments of 700,000 bushels

of avocados. Assessment income, plus

an additional $1,500 in interest income

will provide sufficient funds to cover

budgeted expenses. The Committee

anticipates a reserve fund increase of

$5,930 because assessment income is

more than budgeted expenses. Funds in

the reserve at the end of the 1995–96

fiscal year are within the maximum

permitted by the order of three fiscal

years’ expenses.

Major budget categories for the 1995–

96 are $34,000 for administrative staff

salaries, $15,600 for compliance,

$12,810 for insurance and bonds, and

$10,000 for research.

While this action will impose some

additional costs on handlers, the costs

are in the form of uniform assessments

on all handlers. Some of the additional

costs may be passed on to producers.

However, these costs will be offset by

the benefits derived from the operation

of the marketing orders. Therefore, the

Administrator of the AMS has

determined that this action will not

have a significant economic impact on

a substantial number of small entities.

After consideration of all relevant

material presented, including the

Committees’ recommendations, and

other available information, it is found

that this interim final rule, as

hereinafter set forth, will tend to

effectuate the declared policy of the Act.

Pursuant to 5 U.S.C. 553, it is also

found and determined upon good cause

that it is impracticable, unnecessary,

and contrary to the public interest to

give preliminary notice prior to putting

this rule into effect and that good cause

exists for not postponing the effective

date of this action until 30 days after

publication in the Federal Register

because: (1) The Committees need to

have sufficient funds to pay their

expenses which are incurred on a

continuous basis; (2) the 1995–96 fiscal

year begins on April 1, 1995, and the

marketing orders require that the rate of

assessment for the fiscal year apply to

all assessable limes and avocados

handled during the fiscal year; (3)

handlers are aware of this action which

was recommended by the Committees at

public meetings; and (4) this interim

final rule provides a 30-day comment

period, and all comments timely

received will be considered prior to

finalization of this action.

List of Subjects

7 CFR Part 911

Limes, Marketing agreements,

Reporting and recordkeeping

requirements.

7 CFR Part 915

Avocados, Marketing agreements,

Reporting and recordkeeping

requirements.

For the reasons set forth in the

preamble, 7 CFR Parts 911 and 915 are

amended as follows:

1. The authority citation for both 7

CFR Parts 911 and 915 continues to read

as follows:

Authority: 7 U.S.C. 601–674.

Note: These sections will not appear in the

Code of Federal Regulations.

PART 911—LIMES GROWN IN

FLORIDA

2. A new § 911.233 is added to read

as follows:

§ 911.233 Expenses and Assessment rate.

Expenses of $92,270 by the Florida

Lime Administrative Committee are

authorized, and an assessment rate of

$0.16 per 55-pound bushel of assessable

limes is established for the 1995–96

fiscal year ending on March 31, 1996.

Unexpended funds may be carried over

as a reserve.

PART 915—AVOCADOS GROWN IN

SOUTH FLORIDA

3. A new § 915.233 is added to read

as follows:

§ 915.233 Expenses and Assessment rate.

Expenses of $107,570 by the Avocado

Administrative Committee are

authorized, and an assessment rate of

$0.16 per 55-pound bushel of assessable

avocados is established for the 1995–96

fiscal year ending on March 31, 1996.

Unexpended funds may be carried over

as a reserve.

Dated: February 8, 1995.

Sharon Bomer Lauritsen,

Deputy Director, Fruit and Vegetable Division.

[FR Doc. 95–3786 Filed 2–14–95; 8:45 am]

BILLING CODE 3410–02–P

7 CFR Part 985

[FV94–985–5FR]

Spearmint Oil Produced in the Far

West; Salable Quantities and Allotment

Percentages for the 1995–96 Marketing

Year

AGENCY: Agricultural Marketing Service,

USDA.

ACTION: Final rule.

SUMMARY: This final rule establishes the

quantity of spearmint oil produced in

the Far West, by class, that handlers

may purchase from, or handle for,

producers during the 1995–96

marketing year. The Spearmint Oil

Administrative Committee (Committee),

the agency responsible for local

administration of the marketing order

for spearmint oil produced in the Far
Federal Register / Vol. 60, No. 31 / Wednesday, February 15, 1995 / Rules and Regulations 8525

West, recommended this rule for the

purpose of avoiding extreme

fluctuations in supplies and prices, and

thus help to maintain stability in the

spearmint oil market.

EFFECTIVE DATE: March 17, 1995.

FOR FURTHER INFORMATION CONTACT:

Robert J. Curry, Northwest Marketing

Field Office, Marketing Order

Administration Branch, Fruit and

Vegetable Division, AMS, USDA, 1220

S.W. Third Avenue, Room 369,

Portland, Oregon 97204; telephone:

(503) 326–2724; or Caroline C. Thorpe,

Marketing Order Administration

Branch, Fruit and Vegetable Division,

AMS, USDA, Room 2525, South

Building, P.O. Box 96456, Washington,

D.C. 20090–6456; telephone: (202) 720–

5127.

SUPPLEMENTARY INFORMATION: This final

rule is issued under Marketing Order

No. 985 [7 CFR Part 985], regulating the

handling of spearmint oil produced in

the Far West (Washington, Idaho,

Oregon, and designated parts of

California, Nevada, Montana, and Utah).

This marketing order is effective under

the Agricultural Marketing Agreement

Act of 1937, as amended [7 U.S.C. 601–

674], hereinafter referred to as the Act.

The Department of Agriculture

(Department) is issuing this rule in

conformance with Executive Order

12866.

This final rule has been reviewed

under Executive Order 12778, Civil

Justice Reform. Under the provisions of

the marketing order now in effect,

salable quantities and allotment

percentages may be established for

classes of spearmint oil produced in the

Far West. This final rule establishes the

quantity of spearmint oil produced in

the Far West, by class, that may be

purchased from or handled for

producers by handlers during the 1995–

96 marketing year, which begins on June

1, 1995. This final rule will not preempt

any state or local laws, regulations, or

policies, unless they present an

irreconcilable conflict with this rule.

The Act 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 file

with the Secretary 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

law and request a modification of the

order or to be exempted therefrom. A

handler is afforded the opportunity for

a hearing on the petition. After the

hearing the Secretary 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 his or her principal

place of business, has jurisdiction in

equity to review the Secretary’s ruling

on the petition, provided a bill in equity

is filed not later than 20 days after date

of the entry of the ruling.

Pursuant to requirements set forth in

the Regulatory Flexibility Act (RFA), the

Administrator of the Agricultural

Marketing Service (AMS) has

considered the economic impact of this

action on small entities.

The purpose of the RFA is to fit

regulatory actions to the scale of

business subject to such actions in order

that small businesses will not be unduly

or disproportionately burdened.

Marketing orders issued pursuant to the

Act, and rules issued thereunder, are

unique in that they are brought about

through group action of essentially

small entities acting on their own

behalf. Thus, both statutes have small

entity orientation and compatibility.

There are 8 spearmint oil handlers

subject to regulation under the

marketing order and approximately 260

producers of spearmint oil in the

regulated production area. Of the 260

producers, approximately 160 producers

hold Class 1 (Scotch) oil allotment base,

and approximately 145 producers hold

Class 3 (Native) oil allotment base.

Small agricultural service firms are

defined by the Small Business

Administration [13 CFR 121.601] as

those having annual receipts of less than

$5,000,000, and small agricultural

producers have been defined as those

whose annual receipts are less than

$500,000. A minority of producers and

handlers of Far West spearmint oil may

be classified as small entities.

The Far West spearmint oil industry

is characterized by producers whose

farming operations generally involve

more than one commodity and whose

income from farming operations is not

exclusively dependent on the

production of spearmint oil. The U.S.

production of spearmint oil is

concentrated in the Far West, primarily

Washington, Idaho, and Oregon (part of

the area covered by the marketing

order). Spearmint oil is also produced in

the Midwest. The production area

covered by the marketing order accounts

for approximately 75 percent of the

annual U.S. production of spearmint oil.

Pursuant to authority contained in

§§ 985.50, 985.51, and 985.52 of the

marketing order, the Committee

recommended the salable quantities and

allotment percentages for the 1995–96

marketing year at its October 5, 1994,

meeting. The Committee recommended

the establishment of a salable quantity

and allotment percentage for Scotch

spearmint oil by a unanimous vote, and

a seven to one vote, respectively. The

member voting in opposition favored

the establishment of a higher salable

quantity that would have resulted in a

higher allotment percentage. The

Committee also recommended the

establishment of a salable quantity and

allotment percentage for Native

spearmint oil by a unanimous vote.

This final rule establishes a salable

quantity of 908,531 pounds and an

allotment percentage of 51 percent for

Scotch spearmint oil, and a salable

quantity of 906,449 pounds and an

allotment percentage of 46 percent for

Native spearmint oil. This rule limits

the amount of spearmint oil that

handlers may purchase from, or handle

for, producers during the 1995–96

marketing year, which begins on June 1,

1995. Salable quantities and allotment

percentages have been placed into effect

each season since the marketing order’s

inception in 1980.

The salable quantity and allotment

percentage for each class of spearmint

oil for the 1995–96 marketing year is

based upon the Committee’s

recommendations and the following

data and estimates:

(1) Class 1 (Scotch) Spearmint Oil

(A) Estimated carry-in on June 1,

1995—57,325 pounds. This number is

derived by subtracting the estimated

1994–95 marketing year trade demand

of 900,000 pounds from the revised

1994–95 marketing year total available

supply of 957,325 pounds.

(B) Estimated trade demand (domestic

and export) for the 1995–96 marketing

year—950,000 pounds. This number is

an estimate that takes into account the

average of total annual sales made

between 1980 and 1993, handler

estimates, and information provided by

producers and buyers.

(C) Salable quantity required from

1995–96 regulated production—892,675

pounds. This number is the difference

between the estimated 1995–96

marketing year trade demand and the

estimated carry-in on June 1, 1995.

(D) Total allotment base for the 1995–

96 marketing year—1,781,433 pounds.

(E) Computed allotment percentage—

50.1 percent. This percentage is

computed by dividing the required

salable quantity by the total allotment

base.

(F) Recommended allotment

percentage—51 percent.

(G) The Committee’s recommended

salable quantity—908,531 pounds.

(2) Class 3 (Native) Spearmint Oil

(A) Estimated carry-in on June 1,

1995—156,733 pounds. This number is
8526 Federal Register / Vol. 60, No. 31 / Wednesday, February 15, 1995 / Rules and Regulations

derived by subtracting the estimated

1994–95 marketing year trade demand

of 1,150,000 pounds from the revised

1994–95 marketing year total available

supply of 1,306,733 pounds.

(B) Estimated trade demand (domestic

and export) for the 1995–96 marketing

year—1,050,000 pounds. This number is

an estimate based on the average of total

annual sales made between 1980 and

1993, handler estimates, and

information provided by producers and

buyers.

(C) Salable quantity required from

1995–96 regulated production—893,267

pounds. This number is the difference

between the estimated 1995–96

marketing year trade demand and the

estimated carry-in on June 1, 1995.

(D) Total allotment base for the 1995–

96 marketing year—1,970,542 pounds.

(E) Computed allotment percentage—

45.3 percent. This percentage is

computed by dividing the required

salable quantity by the total allotment

base.

(F) Recommended allotment

percentage—46 percent.

(G) The Committee’s recommended

salable quantity—906,449 pounds.

The salable quantity is the total

quantity of each class of oil which

handlers may purchase from or handle

on behalf of producers during a

marketing year. Each producer is

allotted a share of the salable quantity

by applying the allotment percentage to

the producer’s allotment base for the

applicable class of spearmint oil.

The Committee’s recommended

salable quantities of 908,531 pounds

and 906,449 pounds, and allotment

percentages of 51 percent and 46

percent for Scotch and Native spearmint

oils, respectively, are based on

anticipated 1995–96 marketing year

supply and trade demand.

The recommended salable quantity

and allotment percentage for Native

spearmint oil reflects the Committee’s

expectation that demand during the

1995–96 marketing year will

approximate the demand initially

anticipated for the 1994–95 marketing

year. On the other hand, the relatively

higher recommended salable quantity

and allotment percentage for Scotch

spearmint oil for the 1995–96 marketing

year demonstrates that the Committee is

concerned with the increasing Scotch

spearmint oil production both inside

and outside the marketing order

production area, and the industry’s

desire to maintain a significant share of

the North American market.

These salable quantities are not

expected to cause a shortage of

spearmint oil supplies. Any

unanticipated or additional market

demand for spearmint oil which may

develop during the marketing year can

be satisfied by an increase in the salable

quantity. Both Scotch and Native

spearmint oil producers who produce

more than their annual allotments

during the 1994–95 season may transfer

such excess spearmint oil to a producer

with spearmint oil production less than

his or her annual allotment or put it into

the reserve pool.

This regulation, as adopted, will be

similar to those which have been issued

in prior seasons. Costs to producers and

handlers resulting from this final action

are expected to be offset by the benefits

derived from improved returns.

The establishment of these salable

quantities and allotment percentages

allows for anticipated market needs

based on historical sales, changes and

trends in production and demand, and

information available to the Committee.

Adoption of this final rule also provides

spearmint oil producers with

information on the amount of oil which

should be produced for next season.

The proposed rule concerning this

action was published in the December

15, 1994, Federal Register [59 FR

64624], with a 30-day comment period

ending January 17, 1995. No comments

were received.

Based on available information, the

Administrator of the AMS has

determined that the issuance of this

final rule will not have a significant

economic impact on a substantial

number of small entities.

After consideration of all relevant

matter presented, including the

information and recommendations

submitted by the committee and other

available information, it is hereby found

that this rule, as hereinafter set forth,

will tend to effectuate the declared

policy of the Act.

List of Subjects in 7 CFR Part 985

Marketing agreements, Oils and fats,

Reporting and recordkeeping

requirements, Spearmint oil.

For the reasons set forth in the

preamble, 7 CFR Part 985 is amended as

follows:

PART 985—SPEARMINT OIL

PRODUCED IN THE FAR WEST

1. The authority citation for 7 CFR

Part 985 continues to read as follows:

Authority: 7 U.S.C. 601–674.

2. A new section 985.214 is added to

read as follows:

Note: This section will not appear in the

annual Code of Federal Regulations.

§ 985.214 Salable quantities and allotment

percentages—1995–96 marketing year.

The salable quantity and allotment

percentage for each class of spearmint

oil during the marketing year beginning

on June 1, 1995, shall be as follows:

(a) Class 1 (Scotch) oil—a salable

quantity of 908,531 pounds and an

allotment percentage of 51 percent.

(b) Class 3 (Native) oil—a salable

quantity of 906,449 pounds and an

allotment percentage of 46 percent.

Dated: February 8, 1995.

Sharon Bomer Lauritsen,

Deputy Director, Fruit and Vegetable Division.

[FR Doc. 95–3785 Filed 2–14–95; 8:45 am]

BILLING CODE 3410–02–P

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the

Currency

12 CFR Part 32

[Docket No. 95–03]

RIN 1557–AA72

Lending Limits

AGENCY: Office of the Comptroller of the

Currency, Treasury.

ACTION: Final rule.

SUMMARY: The Office of the Comptroller

of the Currency (OCC) is

comprehensively revising its rules

governing national bank lending limits

as part of its Regulation Review

Program. The final rule amends,

clarifies, and reorganizes the OCC’s

lending limit rules.

The final rule eliminates inefficient

and unduly burdensome regulatory

requirements and refocuses the lending

limit rules on the areas of greatest safety

and soundness concern. The new rule

enhances the ability of national banks to

lend while protecting against situations

where excessive loans to a borrower or

related borrowers present safety and

soundness concerns.

EFFECTIVE DATE: March 17, 1995.

FOR FURTHER INFORMATION CONTACT:

William C. Kerr, National Bank

Examiner, or Frank R. Carbone, National

Bank Examiner, Credit and Management

Policy, (202) 874–5170; P. Moni

SenGupta, Attorney Legislative and

Regulatory Activities Division, (202)

874–5090; Aline J. Henderson, Senior

Attorney, or Laura G. Goldman,

Attorney, Bank Activities and Structure

Division, (202) 874–5300; Office of the

Comptroller of the Currency, 250 E St.

SW, Washington, D.C. 20219.