USDA Invites Public Comment on Proposed Changes to Export Credit Guarantee (GSM-102) Program

WASHINGTON, Dec. 27, 2013 — The U.S. Department of Agriculture (USDA) today invited public comment on proposed changes to the Export Credit Guarantee (GSM-102) Program that would clarify program operations and enhance program access for all participants, including smaller U.S. exporters.

The GSM-102 program provides credit guarantees to encourage financing of commercial exports of U.S. agricultural products to developing countries, while providing competitive credit terms in these countries. Under the program, the Commodity Credit Corporation (CCC) reduces the financial risk to lenders by guaranteeing payments due from approved foreign banks to exporters or financial institutions in the United States.

The proposed rule revises and amends the regulations at 7 CFR Part 1493 to incorporate operational changes that have been implemented since the publication of the current rule, and includes other revisions to enhance clarity and program integrity. This proposed rule also incorporates certain suggested changes received during the initial publication of the proposed rule on July 27, 2011. These changes should increase program availability to all participants. 

Comments concerning this proposed rule must be received by Jan. 27, 2014, to be assured consideration. Comments may be submitted via:

  • The Federal eRulemaking Portal at http://www.regulations.gov;
  • E-mail at GSMregs@fas.usda.gov;
  • Fax at (202) 720-2495, attention:  GSM-102 Proposed Rule Comments; or
  • Hand delivery, courier or U.S. mail to: Amy Slusher, Deputy Director, Credit Programs Division, Foreign Agricultural Service, U.S. Department of Agriculture, 1400 Independence Avenue, SW, Stop 1025, Room 5509, Washington, D.C. 20250-1025.           

Comments may be inspected at 1400 Independence Avenue, SW, Washington, D.C., between 8 a.m. and 4:30 p.m., Monday through Friday, except holidays.  A copy of this proposed rule is available at: https://federalregister.gov/a/2013-29439.

For more information, contact Amy Slusher, Deputy Director, Credit Programs Division at (202) 720-6211 or Amy.Slusher@fas.usda.gov.

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