Title: NOTICE OF EFFECTIVE DATE--Loan Policies and Operations; Title IV Conservators, Receivers, and Voluntary Liquidation; Effective Date--12 CFR Parts 614 and 627
Issue Date: 03/13/1998
Federal Register Cite: 63 FR 12401
FARM CREDIT ADMINISTRATION
12 CFR Parts 614 and 627
Loan Policies and Operations; Title IV Conservators, Receivers, and Voluntary Liquidation; Effective Date
ACTION: Notice of effective date.
SUMMARY: The Farm Credit Administration (FCA) published a final rule under parts 614 and 627 on February 4, 1998 (63 FR 5721). The final rule amends the regulations governing the funding relationship between a Farm Credit Bank (FCB) or agricultural credit bank (ACB), and a direct lender association or other financing institution (OFI). This rule repealed the requirement that the FCA prior approve the General Financing Agreement between an FCB or ACB and a direct lender association or OFI and eliminated a regulatory direct loan limitation. The rule also amended another regulation to permit the voluntary liquidation of Farm Credit institutions by means of an FCA-approved liquidation plan. 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 13, 1998.
EFFECTIVE DATE: The regulation amending 12 CFR parts 614 and 627 published on February 4, 1998 (63 FR 5721) is effective March 13, 1998.
FOR FURTHER INFORMATION CONTACT:
S. Robert Coleman, Senior Policy Analyst, Office of Policy and Analysis, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4498;
James M. Morris, Senior Counsel, 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: March 10, 1998.
Secretary, Farm Credit Administration Board.
[FR Doc. 98-6371 Filed 3-12-98; 8:45 am]
BILLING CODE 6705-01-P