Redelegation of Authority To Approve Releases of Liability in Connection With Voluntary Liquidations

요약

On September 11, 1992, the Farmers Home Administration (FmHA) redelegated certain authorities to all State Directors dealing with the settlement of and/or the release of liability on FmHA debts owed by borrowers who made application to settle their FmHA debts or request release of liability. Notice of this redelegation was published in 57 FR 43688 (September 22, 1992). The redelegation authority, granted on September 11, 1992, expired on September 30, 1993, and the Administrator now gives notice to extend that redelegation until December 31, 1994. All release of liability cases of $1,000,000 or more (including principal, interest and other charges) must be submitted to the National Office for approval by the Administrator. This action is taken to expedite the processing of requests of borrowers who are unable to repay all of their FmHA debts. The effect of the extension of the redelegation of the Administrator's authority is to continue to expedite the administrative review process for releases of liability, permitting more timely debt relief to FmHA borrowers, and to consequently reduce the Agency's portfolio of inactive uncollectible accounts.