Due to the ongoing economic impact of the COVID-19 pandemic, the FCC’s Wireline Competition Bureau has found good cause to extend the limited waiver of the letter of credit (LOC) rules for Connect America Fund Phase II Auction (CAF II) funding recipients that have met their deployment and reporting obligations to December 31, 2023. According to CAF II rules, to receive funding, support recipients are required to “maintain a LOC each year valued at the total amount of money that has already been disbursed plus the amount of money that is going to be provided in the next year.” The Commission has concluded that extending the waiver of LOC requirements will allow funding recipients to better allocate resources to operate successfully.
