Title: PROPOSED RULE COMMENT PERIOD EXTENSION--Organization--12 CFR Part 611
Issue Date: 09/19/1984
Agency: FCA
Federal Register Cite: 49 FR 36655
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FARM CREDIT ADMINISTRATION

12 CFR Part 611

Organization

AGENCY: Farm Credit Administration.

ACTION: Proposed rule comment period extension.

SUMMARY: The Farm Credit Administration ("FCA"), by its Federal Farm Credit Board ("Federal Board"), published for comment proposed amendments to its regulations concerning changes to Federal land bank association ("FLBA") and production credit association ("PCA") charters in the Federal Register on July 20, 1984 (49 FR 29404). The FCA gives notice that the original comment period is hereby extended to November 5, 1984, because of requests for additional time to comment.

DATE: The period for receipt of written comments is extended from September 19, 1984, to November 5, 1984.

ADDRESS: All comments should be submitted in writing to Donald E. Wilkinson, Governor, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090. Copies of all written communications received will be available for inspection by interested parties in the Office of the Director, Congressional and Public Affairs Division, Office of Administration, Farm Credit Administration.

FOR FURTHER INFORMATION CONTACT:

Tom Holland, Office of Examination and Supervision, (703) 883-4033, or

Kenneth L. Peoples, Office of the General Counsel, (703) 883-4024

TEXT:
SUPPLEMENTARY INFORMATION: On July 20, 1984, the FCA published in the Federal Register proposed revisions to its regulations concerning the procedures for amending FLBA and PCA charters, including those related to mergers and consolidations of like associations. Since that time, the FCA has received several comments requesting additional time to respond to the proposed rules due to their complexity, particularly the financial disclosure required to be made to stockholders.

The FCA does not believe the financial disclosure requirements for merger or consolidations to be unfamiliar to Farm Credit System institutions or to be more complex than financial reporting required by other regulatory agencies in similar circumstances. However, because FCA has previously issued financial disclosure guidelines to address many of these concerns, the FCA believes the delay in the rulemaking process is outweighed by the potential for more constructive comments. Accordingly, the FCA decided to extend the comment period until November 5, 1984. During the extended comment period the FCA will continue to review proposed mergers consistent with the related guidelines issued on February 24, 1984.

Kenneth J. Auberger,

Acting Governor.

[FR Doc. 84-24836 Filed 9-18-84; 8:45 am]

BILLING CODE 3410-07-M