Title: CORRECTING AMENDMENTS--Organization and Functions; Privacy Act Regulations; Organization; Loan Policies and Operations; Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; General Provisions; Definitions; Correction--12 CFR Parts 614 and 618
Issue Date: 05/12/1997
Agency: FCA
Federal Register Cite: 62 FR 25831
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FARM CREDIT ADMINISTRATION

12 CFR Parts 614 and 618

RIN 3052-AB61

Organization and Functions; Privacy Act Regulations; Organization; Loan Policies and Operations; Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; General Provisions; Definitions; Correction

ACTION: Correcting amendments.

SUMMARY: The Farm Credit Administration (FCA) published an interim rule (62 FR 67181, December 20, 1996) that amended the regulations to eliminate unnecessary, outdated, duplicative, or burdensome regulatory requirements, to replace outdated regulatory language with more current terminology, and to clarify the intended meaning of certain regulatory provisions. This document corrects nonsubstantive errors in the interim rule.

EFFECTIVE DATE: March 4, 1997.

FOR FURTHER INFORMATION CONTACT: Cindy R. Nicholson, Paralegal Specialist, Office of Policy Development and Risk Control, Farm Credit Administration, McLean, VA 22102-5090, 703) 883-4498, TDD (703) 883-4444.

SUPPLEMENTARY INFORMATION: In identifying commentors on the interim rule, the FCA inadvertently failed to note receipt of a comment letter provided by the Farm Credit Council (FCC) during the public comment period.

List of Subjects

12 CFR Part 614


Agriculture, Banks, banking, Foreign trade, Reporting and recordkeeping requirements, Rural areas.

12 CFR Part 618


Agriculture, Archives and records, Banks, banking, Insurance, Reporting and recordkeeping requirements, Rural areas, Technical assistance.

Accordingly, 12 CFR parts 614 and 618 are corrected by making the following correcting amendments:

PART 614--LOAN POLICIES AND OPERATIONS

1. The authority citation for part 614 continues to read as follows:

Authority: 42 U.S.C. 4012a, 4014a, 4104b, 4106, and 4128; secs. 1.3, 1.5, 1.6, 1.7, 1.9, 1.10, 2.0, 2.2, 2.3, 2.4, 2.10, 2.12, 2.13, 2.15, 3.0, 3.1, 3.3, 3.7, 3.8, 3.10, 3.20, 3.28, 4.12, 4.12A, 4.13, 4.13B, 4.14, 4.14A, 4.14C, 4.14D, 4.14E, 4.18, 4.19, 4.36, 4.37, 5.9, 5.10, 5.17, 7.0, 7.2, 7.6, 7.7, 7.8, 7.12, 7.13, 8.0, 8.5 of the Farm Credit Act (12 U.S.C. 2011, 2013, 2014, 2015, 2017, 2018, 2019, 2071, 2073, 2074, 2075, 2091, 2093, 2094, 2096, 2121, 2122, 2124, 2128, 2129, 2131, 2141, 2149, 2183, 2184, 2199, 2201, 2202, 2202a, 2202c, 2202d, 2202e, 2206, 2206a, 2207, 2219a, 2219b, 2243, 2244, 2252, 2279a, 2279a-2, 2279b, 2279b-1, 2279b-2, 2279f, 2279f-1, 2279aa, 2279aa-5); sec. 413 of Pub. L. 100-233, 101 Stat. 1568, 1639.

Subpart N--Loan Servicing Requirements; State Agricultural Loan Mediation Programs; Right of First Refusal

614.4516 -- [Corrected]


2.The introductory text of 614.4516 is amended by adding the words "in accordance" immediately after the word "accomplished".

PART 618--GENERAL PROVISIONS

3. The authority citation for part 618 continues to read as follows:

Authority: Secs. 1.5, 1.11, 1.12, 2.2, 2.4, 2.5, 2.12, 3.1, 3.7, 4.12, 4.13A, 4.25, 4.29, 5.9, 5.10, 5.17 of the Farm Credit Act (12 U.S.C. 2013, 2019, 2020, 2073, 2075, 2076, 2093, 2122, 2128, 2183, 2200, 2211, 2218, 2243, 2244, 2252).

Subpart G--Releasing Information

618.8320 -- [Corrected]


4. Paragraph (b)(5) of 618.8320 is revised to read as follows.

* * * * *

(b) * * *

(5) Impersonal information based solely on transactions or experience with a borrower, such as amounts of loans, terms, and payment records, may be given by a bank or association to any reliable organization for its confidential use in contemplation of the extension of credit or to a consumer reporting agency.

* * * * *

Dated: May 6, 1997.

Floyd Fithian,

Secretary, Farm Credit Administration Board.

[FR Doc. 97-12347 Filed 5-9-97; 8:45 am]


BILLING CODE 6705-01-P