[Federal Register Volume 63, Number 42 (Wednesday, March 4, 1998)]
[Rules and Regulations]
[Page 10515]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5551]
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FARM CREDIT ADMINISTRATION
12 CFR Part 614
RIN 3052-AB78
Loan Policies and Operations; Loan Sales Relief; Effective
AGENCY: Farm Credit Administration.
ACTION: Notice of effective date.
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SUMMARY: The Farm Credit Administration (FCA) published a direct final
rule, with opportunity for comment, amending part 614 on December 2,
1997 (62 FR 63644). The final rule conforms the regulations to recent
statutory amendments to the Farm Credit Act of 1971, as amended, (Act)
made by sections 206 and 208 of the Farm Credit System Reform Act of
1996 (1996 Act). These amendments provide that loans designated by Farm
Credit System institutions for sale into a secondary market are not
subject to minimum stock purchase or borrower rights requirements. The
opportunity for comment expired on January 2, 1998. The FCA received no
comments and therefore, the final rule becomes effective without
change. In accordance with 12 U.S.C. 2252, the effective date of the
final rule is 30 days from the date of publication in the Federal
Register during which either or both Houses of Congress are in session.
Based on the records of the sessions of Congress, the effective date of
the regulations is March 4, 1998.
EFFECTIVE DATE: The regulation amending 12 CFR part 614 published on
December 2, 1998 (62 FR 63644) is effective March 4, 1998.
FOR FURTHER INFORMATION CONTACT:
John J. Hays, Policy Analyst, Office of Policy and Analysis, Farm
Credit Administration, McLean, VA 22102-5090, (703) 883-4498;
or
William L. Larsen, Senior Attorney, Office of General Counsel, Farm
Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TDD (703)
883-4444.
(12 U.S.C. 2252(a)(9) and (10))
Dated: February 27, 1998.
Floyd Fithian,
Secretary, Farm Credit Administration Board.
[FR Doc. 98-5551 Filed 3-3-98; 8:45 am]
BILLING CODE 6705-01-P
