Federal Register / Vol. 74, No. 98 / Friday, May 22, 2009 / Proposed Rules 23961 

designation reduced the minimum 

potato size, as determined in the United 

States Standards for Grades of Potatoes, 

to 3⁄4 inches diameter. 

The Committee reported that smaller 

size potatoes of good quality receive 

premium prices. While USDA Market 

News does not report on round type 

potatoes or on small size, long type 

potatoes in the Idaho-E. Oregon area, 

but does report on activity in other 

regions producing both round types and 

smaller sizes of potatoes, reports from 

other areas do show that the higher 

grade, small size round type potatoes 

consistently command higher prices 

than larger potatoes. It would be 

reasonable to expect price trends 

between production areas to move 

together, given that the regions would 

compete with each other for sales in the 

domestic market. 

Relaxing the size requirement would 

allow producers and handlers of 

potatoes under the order to ship a 

greater percentage of their crop to the 

fresh market. In addition, shipments of 

the smaller size potatoes that would be 

allowed after this change should 

command higher prices, which would 

be expected to increase total net returns 

for those firms who chose to ship. The 

benefits derived from this rule change 

are not expected to be 

disproportionately more or less for 

small handlers or producers than for 

larger entities. 

Additionally, this rule would allow 

potato importers to respond to the 

changing demand of the domestic 

consumers. The market’s increasing 

preference for small size potatoes 

applies to imported potatoes as well as 

domestic potatoes. Thus, importers 

would benefit by increasing sales to an 

emerging domestic market segment. 

The Committee discussed alternatives 

to this proposed change. One alternative 

included making no change at all to the 

current regulation. The Committee did 

not believe that maintaining the current 

requirements would serve to meet the 

needs of consumers or buyers, and 

would not ultimately be of any benefit 

to the industry. Another alternative 

discussed was to allow smaller size 

potatoes to continue to be handled 

exempt from regulation under the 

special purpose shipment provisions 

provided within the order. This option 

was also rejected because it could 

potentially allow lower quality potatoes 

to be shipped into the fresh market. 

Lastly, the Committee considered 

further relaxing the size requirement for 

potatoes beyond what is proposed in 

this rule. The discussion centered on 

whether to extend the relaxation to U.S. 

No. 2 grade potatoes as well. The 

Committee believed that the proposed 

relaxation is sufficient to adequately 

supply the growing market demand for 

smaller size potatoes while still 

maintaining high quality standards for 

such potatoes. After consideration of all 

the alternatives, the Committee believes 

that the proposed changes contained 

herein would provide the greatest 

amount of benefit to the industry with 

the least amount of cost. 

AMS is committed to complying with 

the E-Government Act, to promote the 

use of the Internet and other 

information technologies to provide 

increased opportunities for citizen 

access to Government information and 

services, and for other purposes. 

This rule would not impose any 

additional reporting or recordkeeping 

requirements on either small or large 

potato handlers and importers. As with 

all Federal marketing order programs, 

reports and forms are periodically 

reviewed to reduce information 

requirements and duplication by 

industry and public sector agencies. In 

addition, USDA has not identified any 

relevant Federal rules that duplicate, 

overlap, or conflict with this proposed 

rule. 

Further, the Committee’s meeting was 

widely publicized throughout the potato 

industry, and all interested persons 

were invited to attend the meeting and 

participate in Committee deliberations. 

Like all Committee meetings, the June 9, 

2008, meeting was a public meeting and 

all entities, both large and small, were 

able to express their views on this issue. 

Finally, interested persons are invited to 

submit comments on this proposed rule, 

including the regulatory and 

informational impacts of this action on 

small businesses. 

A small business guide on complying 

with fruit, vegetable, and specialty crop 

marketing agreements and orders may 

be viewed at: http://www.ams.usda.gov/ 

AMSv1.0/ams.fetchTemplateData.do?

template=TemplateN&page=Marketing

OrdersSmallBusinessGuide. Any 

questions about the compliance guide 

should be sent to Jay Guerber at the 

previously mentioned address in the 

FOR FURTHER INFORMATION CONTACT

section. 

In accordance with section 8e of the 

Act, the United States Trade 

Representative has concurred with the 

issuance of this proposed rule. 

A 60-day comment period is provided 

to allow interested persons to respond 

to this proposal. All written comments 

timely received will be considered 

before a final determination is made on 

this matter. 

List of Subjects in 7 CFR Part 945 

Marketing agreements, Potatoes, 

Reporting and recordkeeping 

requirements. 

For the reasons set forth above, 7 CFR 

part 945 is proposed to be amended as 

follows: 

PART 945—IRISH POTATOES GROWN 

IN CERTAIN DESIGNATED COUNTIES 

IN IDAHO, AND MALHEUR COUNTY, 

OREGON 

1. The authority citation for 7 CFR 

part 945 continues to read as follows: 

Authority: 7 U.S.C. 601–674. 

2. In § 945.341, paragraphs (a)(2)(i) 

and (a)(2)(iii) are revised to read as 

follows: 

§ 945.341 Handling regulation. 

* * * * * 

(a) * * * 

* * * * * 

(2) * * * 

(i) Round varieties. 17⁄8 inches 

minimum diameter, unless otherwise 

specified on the container in connection 

with the grade. 

(ii) * * * 

(iii) All varieties, U.S. No. 1 grade or 

better. (A) Size B (11⁄2 to 21⁄4 inches 

diameter). 

(B) Creamer (3⁄4 to 15⁄8 inches 

diameter). 

* * * * * 

Dated: May 18, 2009. 

Robert C. Keeney, 

Acting Associate Administrator. 

[FR Doc. E9–11968 Filed 5–21–09; 8:45 am] 

BILLING CODE 3410–02–P 

FARM CREDIT ADMINISTRATION 

12 CFR Parts 611, 613, 615, 619, and 

620 

RIN 3052–AC43 

Organization; Eligibility and Scope of 

Financing; Funding and Fiscal Affairs, 

Loan Policies and Operations, and 

Funding Operations; Definitions; and 

Disclosure to Shareholders; Director 

Elections 

AGENCY: Farm Credit Administration. 

ACTION: Notice of proposed rulemaking; 

extension of comment period. 

SUMMARY: The Farm Credit 

Administration (FCA, Agency or we) is 

extending the comment period on the 

proposed rulemaking that seeks 

comments on proposed changes to the 

rules on Farm Credit System (System) 

bank and association director elections 


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23962 Federal Register / Vol. 74, No. 98 / Friday, May 22, 2009 / Proposed Rules 

1 7 U.S.C. 6d(a)(2). 

and other voting procedures to clarify 

the director elections process, and to 

update the rules to incorporate 

interpretations made through recent 

bookletters to System institutions. We 

are extending the comment period so all 

interested parties will have additional 

time to provide comments. 

DATES: You may send comments on or 

before August 14, 2009. 

ADDRESSES: We offer a variety of 

methods for you to submit your 

comments. For accuracy and efficiency 

reasons, commenters are encouraged to 

submit comments by e-mail or through 

the FCA’s Web site. As facsimiles (fax) 

are difficult for us to process and 

achieve compliance with section 508 of 

the Rehabilitation Act, we are no longer 

accepting comments submitted by fax. 

Regardless of the method you use, 

please do not submit your comment 

multiple times via different methods. 

You may submit comments by any of 

the following methods: 

• E-mail: Send us an e-mail at regcomm@fca.gov. 

• FCA Web site: http://www.fca.gov. 

Select ‘‘Public Commenters,’’ then 

‘‘Public Comments,’’ and follow the 

directions for ‘‘Submitting a Comment.’’ 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail: Gary K. Van Meter, Deputy 

Director, Office of Regulatory Policy, 

Farm Credit Administration, 1501 Farm 

Credit Drive, McLean, VA 22102–5090. 

You may review copies of all comments 

we receive at our office in McLean, 

Virginia, or from our Web site at http:// 

www.fca.gov. Once you are in the Web 

site, select ‘‘Public Commenters,’’ then 

‘‘Public Comments,’’ and follow the 

directions for ‘‘Reading Submitted 

Public Comments.’’ We will show your 

comments as submitted, but for 

technical reasons we may omit items 

such as logos and special characters. 

Identifying information you provide, 

such as phone numbers and addresses, 

will be publicly available. However, we 

will attempt to remove e-mail addresses 

to help reduce Internet spam. 

FOR FURTHER INFORMATION CONTACT: 

Elna Luopa, Senior Corporate Analyst, 

Office of Regulatory Policy, Farm 

Credit Administration, McLean, VA 

22102–5090, (703) 883–4498, TTY 

(703) 883–4434; or 

Laura D. McFarland, Senior Counsel, 

Office of General Counsel, Farm 

Credit Administration, McLean, VA 

22102–5090, (703) 883–4020, TTY 

(703) 883–4020. 

SUPPLEMENTARY INFORMATION: On April 

16, 2009, FCA published a notice in the 

Federal Register seeking public 

comment on proposed changes to the 

rules governing director elections for 

System banks and associations and the 

related director elections process. See 

74 FR 17612. The comment period is 

scheduled to expire on June 15, 2009. In 

a letter dated May 1, 2009, the Farm 

Credit Council, on behalf of System 

banks and associations, requested that 

the Agency extend the comment period 

for another 60 days to allow more time 

for the boards of directors of System 

banks and associations to consider the 

proposed rule and submit their 

comments. Several System associations 

submitted separate requests to extend 

the public comment period for an 

additional 60 days, noting that they will 

have only one board meeting at which 

to consider and discuss the issues before 

the comment period expires. Due to the 

wide-ranging effect of the proposed rule 

on directors, director candidates, 

nominating committees, and the voting 

shareholders of System institutions, we 

have granted this request. The FCA 

supports public involvement and 

participation in its regulatory process 

and invites all interested parties to 

review and provide comments on our 

proposed rule. 

Dated: May 19, 2009. 

Roland E. Smith, 

Secretary, Farm Credit Administration Board. 

[FR Doc. E9–12013 Filed 5–21–09; 8:45 am] 

BILLING CODE 6705–01–P 

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Parts 1 and 30 

RIN 3038–AC79 

Investment of Customer Funds and 

Funds Held in an Account for Foreign 

Futures and Foreign Options 

Transactions 

AGENCY: Commodity Futures Trading 

Commission. 

ACTION: Advance notice of proposed 

rulemaking; request for public 

comment. 

SUMMARY: The Commodity Futures 

Trading Commission (Commission) is 

seeking public comment on possible 

changes to its regulations regarding the 

investment of customer funds 

segregated pursuant to Section 4d of the 

Commodity Exchange Act (customer 

segregated funds) and funds held in an 

account subject to Commission 

Regulation 30.7 (30.7 funds). 

Commission Regulation 1.25 provides 

that a derivatives clearing organization 

(DCO) or a futures commission 

merchant (FCM) holding customer 

segregated funds may invest those funds 

in certain permitted investments subject 

to specified requirements that are 

designed to minimize exposure to 

credit, liquidity, and market risks. The 

Commission is considering significantly 

revising the scope and character of these 

permitted investments and is seeking 

public comment before issuing 

proposed rule amendments. 

Additionally, in conjunction with its 

consideration of possible amendments 

to Regulation 1.25, the Commission is 

considering applying the investment 

requirements of Regulation 1.25, 

including any prospective amendments, 

to investments of 30.7 funds. The 

Commission is seeking public comment 

on this action before issuing proposed 

rule amendments. 

DATES: Comments must be received on 

or before July 21, 2009. 

ADDRESSES: Comments may be 

submitted by any of the following 

methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov/http:// 

frwebgate.access.gpo/cgi-bin/leaving. 

Follow the instructions for submitting 

comments. 

• E-mail: secretary@cftc.gov. Include 

‘‘Advance Notice of Proposed 

Rulemaking for Regulations 1.25 and 

30.7’’ in the subject line of the message. 

• Fax: 202–418–5521. 

• Mail: Send to David A. Stawick, 

Secretary, Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street, NW., Washington, DC 

20581. 

• Courier: Same as mail above. 

All comments received will be posted 

without change to http:// 

www.CFTC.gov/. Reference should be 

made to ‘‘Advance Notice of Proposed 

Rulemaking for Regulations 1.25 and 

30.7.’’ 

FOR FURTHER INFORMATION CONTACT: 

Sarah E. Josephson, Special Counsel, 

202–418–5684, sjosephson@cftc.gov, or 

Phyllis P. Dietz, Associate Director, 

202–418–5449, pdietz@cftc.gov, 

Division of Clearing and Intermediary 

Oversight, Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1151 21st Street, NW., Washington, DC 

20581. 

SUPPLEMENTARY INFORMATION: 

I. Background 

A. Regulation 1.25 

Under Section 4d(a)(2) of the 

Commodity Exchange Act (Act),1 the 


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