FCA Info Memo - Instructions for Filing Part 620 Reports with FCA

Informational Memorandum
Subject:	Instructions for Filing Part 620 Reports with FCA
Date of Memorandum:	04/04/2007
Expiration Date:
Office:	Office of Regulatory Policy
Signed By:	Jacob, Andrew
FCA Contact Person:	Chang, Tong-Ching and Dalton, Tom
Contact Phone:
List of Attachments:

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April 4, 2007

To: Chief Executive Officer

All Farm Credit System Institutions

From: Andrew D. Jacob, Director

Office of Regulatory Policy

Subject: Instructions for Filing Part 620 Reports with FCA

On December 20, 2006, the Farm Credit Administration (FCA) issued a final rule (71 FR 76111) amending our disclosure and reporting regulations for Farm Credit System (System) institutions. The final rule eliminated the specific instructions on submitting financial reports to the FCA required by FCA regulation Part 620 (Part 620 reports). Amended § 620.2(a), Preparing and Filing the Reports, now

provides that:

Copies of each report required by this part, including financial statements and related schedules, exhibits, and all other papers and documents that are a part of the report, must be sent to the Farm Credit Administration according to our instructions. Submissions must comply with the requirements of § 620.3 of this part. The Farm Credit Administration must receive the report within the period prescribed under applicable subpart sections.

Compliance with this change was delayed until the 2007 annual report, but System institutions may voluntarily comply with this change before that.

Provided below are the instructions for submitting to the FCA Part 620 reports, including financial statements and related schedules, exhibits, and all other papers and documents that are a part of a report. Each institution may file Part 620 reports electronically via FCA’s Web site or by mailing one copy of the reports to the address listed below. Electronic filing is FCA’s preferred method. We encourage each institution to submit all Part 620 reports to the FCA electronically.

Instructions for Filing Part 620 Reports with the FCA

1. Electronic Reports

: Submit the reports to the FCA in the same manner as Call Report data submissions. On the Call Report data submissions section of FCA’s Web site, www.fca.gov, select the applicable report type from the pull-down menu under “Type of Submission.” As stated in our October 13, 2006, informational memorandum, Electronic Filing of Part 620 Regulatory Reports, step-by-step instructions for submitting Part 620 reports are provided in Appendix C under section, “Instructions to Electronically Submit Consolidated Reporting System Data, LARS Data, and Part 620 Financial Reports,” of the Uniform Call Report instructions on FCA’s Web site.

If you have submitted a report electronically, please do not send a hard copy of the same report to the FCA.

2. Paper Reports

: Submit one copy of the reports to:

Office of Regulatory Policy
Attention: OMAT - 620 Reports

Farm Credit Administration

1501 Farm Credit Drive
McLean, VA 22102-5090

If you have any questions on this informational memorandum, please contact Tong-Ching Chang, Associate Director, at (703) 883-4461 or

changt@fca.gov

, or Tom Dalton, Senior Staff Accountant, at (703) 883-4460 or

daltont@fca.gov

, Office of Regulatory Policy.