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DOC/NOAA RIN: 0648-AY16 Publication ID: Spring 2010 
Title: Fishing Vessel, Fishing Facility, and Individual Fishing Quota Lending Program Regulations 
Abstract: This action provides regulations for the Fishing Vessel, Fishing Facility, and Individual Fishing Quota Lending Program (FFP). FFP lending can now finance sustainable fisheries efforts, including activities that assist in the transition to reduced fishing capacity, technologies or upgrades to improve collection and reporting of fisheries data, to improve or reduce adverse affects of fishing gear or to improve safety. The FFP collects loan principal, interest, and fees in order to repay monies borrowed from the U.S. Treasury, and FFP lending maintains a negative subsidy under the Federal Credit Reform Act. Additionally, FFP maintains fixed interest rates that are comparable to those of private sector lenders; however the FFP allows borrowers to prepay without penalty and may carry longer repayment periods that are more advantageous to borrowers. The FFP does not make loans for new vessel construction nor for vessel refurbishments that would increase harvesting capacity. This action does not substantively change eligibility or lending criteria. FFP applicants must continue to demonstrate they have the required licenses or permits and that they will continue to comply with all applicable fisheries management measures. The FFP performs due diligence investigations that check credit histories, fisheries violations records, criminal background, among others, to insure borrowers use FFP loans to operate legally and in an environmentally sound manner. This action also includes eligibility criteria and lending guidelines for two additional loan programs, lending for Bering Sea and Aleutian Islands crab fisheries and lending for entities who participate in the Alaska Region's Community Development Quota program. 
Agency: Department of Commerce(DOC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 50 CFR 253   
Legal Authority: 16 USC 1853a(g)    46 USC 53701 et seq   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/00/2010    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Earl Bennett
Program Leader
Department of Commerce
National Oceanic and Atmospheric Administration
SSMC 3, 1315 East-West Highway,
Silver Spring, MD 20910
Phone:301 713-2390
Fax:301 713-1306
Email: earl.bennett@noaa.gov