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News ReleaseFarm Credit Administration
1501 Farm Credit Drive
McLean, Virginia 22102-5090


Printer-friendly version => NR_13-05_03-14-13.pdfNR_13-05_03-14-13.pdf
For Immediate Release
NR 13-05 (03-14-13)
Contact: Mike Stokke or Christine Quinn, 703-883-4056
E-mail: info-line@fca.gov
Website: www.fca.gov

FCA Board Adopts Final Rule to Amend Liquidity Reserve Requirement

McLEAN, Va., March 14, 2013 — The Farm Credit Administration Board today adopted a final rule to amend the agency’s regulation on liquidity reserve requirements for Farm Credit System (FCS) banks.

The final rule accomplishes the following:

A proposed rule on liquidity and funding was published in the Federal Register on Dec. 27, 2011. FCA received comment letters from all FCS banks and the Farm Credit Council, and the final rule takes into account the comments received.

The final rule will become effective 30 days after publication in the Federal Register during which either body of Congress is in session. Notice of the effective date will be published in the Federal Register.

Report
In other business, the Board received a quarterly report from the ethics staff that reviewed recent accomplishments in the ethics program and addressed the program’s strategic priorities for the 2013 fiscal year.

Notational Votes
Since the Feb. 14 FCA Board meeting, one notational vote has occurred. Notational votes are actions the FCA Board takes between Board meetings.
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The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System and the Federal Agricultural Mortgage Corporation (Farmer Mac). FCA charters, regulates, and examines the 94 banks, associations, service corporations and special-purpose entities of the Farm Credit System. The System makes loans to agricultural producers and their cooperatives nationwide. It includes Farmer Mac, which provides a secondary market for agricultural real estate loans, rural housing mortgage loans, and certain rural utility loans. Members of the FCA Board are Jill Long Thompson, Board Chair and CEO; Kenneth A. Spearman; and Leland A. Strom.

Note: FCA news releases are available on the Web at www.fca.gov.