[Code of Federal Regulations]
[Title 7, Volume 14]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1951.51]

[Page 26-27]
 
                          TITLE 7--AGRICULTURE
 
   CHAPTER XVIII--RURAL HOUSING SERVICE, RURAL BUSINESS--COOPERATIVE 
SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF 
                         AGRICULTURE (CONTINUED)
 
PART 1951--SERVICING AND COLLECTIONS--Table of Contents
 
                         Subpart B--Collections
 
Sec. 1951.51  General.

    Source: 53 FR 26591, July 14, 1988, unless otherwise noted.


    This subpart prescribes the policies and procedures of the Farmers 
Home Administration or its successor agency under Public Law 103-354 
(FmHA or its successor agency under Public Law 103-354) for collection 
of loan payments and depositing payments through the Concentration 
Banking System (CBS). Under CBA, FmHA or its successor agency under 
Public Law 103-354 field offices select a local financial institution to 
maintain a Treasury Limited Account (TLA) for depositing FmHA or

[[Page 27]]

its successor agency under Public Law 103-354 loan collections. Deposits 
to these accounts are withdrawn daily by the concentrator bank for 
transfer to the Treasury. Under these procedures, the local FmHA or its 
successor agency under Public Law 103-354 office will deposit the daily 
office collections in a participating local financial institution and 
report the amount deposited to a data service facility that is under 
contract to the concentrator bank. The data service facility will inform 
the concentrator bank of the amount available in each local financial 
institution and the concentrator bank will use this information to 
transfer the funds to the concentrator bank and then to the Treasury.