---
kind: "section"
citation: "7 C.F.R. § 761.203"
title: "7"
number: "761.203"
heading: "National reserves for Farm Ownership and Operating loans."
url: "https://uscodex.org/cfr/7/761.203"
---

# §761.203. National reserves for Farm Ownership and Operating loans.

- (a) **Reservation of funds.** At the start of each fiscal year, the National Office reserves a portion of the funds available for each direct and guaranteed loan program. These reserves enable the Agency to meet unexpected or justifiable program needs during the fiscal year.
- (b) **Allocation of reserved funds.** The National Office distributes funds from the reserve to one or more State Offices to meet a program need or Agency objective.

## Notes

### Authority

Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.

### Source

Source: 72 FR 63285, Nov. 8, 2007, unless otherwise noted.