96-11225. Loan Policies and Operations; Effective Date

[Federal Register Volume 61, Number 88 (Monday, May 6, 1996)]
[Rules and Regulations]
[Page 20125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-11225]



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FARM CREDIT ADMINISTRATION

12 CFR Part 614

RIN 3052-AB52


Loan Policies and Operations; Effective Date

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA) published a final 
regulation under part 614 on March 20, 1996 (61 FR 11303). The final 
regulation removes the requirement that Farm Credit institutions give 
borrowers 10 days prior notification of a change in the interest rate 
on their variable rate loans and replaces it with a 10-day post 
notification for interest rate changes for administered rate loans and 
a 30-day notice if the loan is tied to an external index. 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 
May 3, 1996.

EFFECTIVE DATE: The regulation amending 12 CFR part 614 published on 
March 20, 1996 (61 FR 11303) is effective May 3, 1996.

FOR FURTHER INFORMATION CONTACT:

Robert Child, Policy Analyst, Regulation Development, Office of 
Examination, Farm Credit Administration, McLean, Virginia 22102-5090, 
[phone], TDD [phone],

      or

Joy E. Strickland, Senior Attorney, Regulatory Operations Division, 
Office of General Counsel, Farm Credit Administration, McLean, Virginia 
22102-5090, [phone], TDD [phone].

(12 U.S.C. 2252(a) (9) and (10))

    Dated: May 1, 1996.
Floyd Fithian,
Secretary, Farm Credit Administration Board.
[FR Doc. 96-11225 Filed 5-03-96; 8:45 am]
BILLING CODE 6705-01-P