[Federal Register Volume 59, Number 64 (Monday, April 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-7957]


[[Page Unknown]]

[Federal Register: April 4, 1994]


=======================================================================
-----------------------------------------------------------------------

FARM CREDIT ADMINISTRATION

12 CFR Chapter VI

RIN 3052-AB53

 

Statement of Regulatory Burden

AGENCY: Farm Credit Administration.

ACTION: Final notice of intent.

-----------------------------------------------------------------------

SUMMARY: The Farm Credit Administration (FCA) requested comments 
regarding the appropriateness of the requirements it imposes on the 
Farm Credit System. The action was taken to improve the regulatory 
environment in which the Farm Credit System operates by targeting areas 
for more focused study and by revising rules where comments present 
strong evidence that an FCA requirement is unjustified. This notice 
announces that the comment period has closed for the Statement on 
Regulatory Burden. In addition, the notice describes the FCA's plans 
for addressing the comments received.

FOR FURTHER INFORMATION CONTACT: Eric Howard, Policy Analyst, Office of 
Examination, Farm Credit Administration, McLean, VA 22102-5090, (703) 
883-4498, TDD 883-4444.

SUPPLEMENTARY INFORMATION: On June 10, 1993, the FCA Board approved a 
notice of intent for a Statement on Regulatory Burden seeking public 
comment on the appropriateness of the requirements imposed on the Farm 
Credit System. Comments were sought on the requirements that duplicate 
other Governmental requirements, are not effective, or impose a burden 
that is greater than the benefit derived. The document appeared in the 
Federal Register (58 FR 34003) on June 23, 1993, for a 90-day comment 
period. The comment period was originally scheduled to end on September 
21, 1993. However, several comments were received subsequent to that 
date and will also be considered.
    The FCA received 28 comments (12 comments from 11 associations or 
groups of associations; 11 comments from 6 Farm Credit Banks; 3 
comments from 3 work groups established by the Farm Credit System 
President's Planning Committee; 1 comment from a Bank of Cooperatives; 
and 1 comment letter from The Farm Credit Council on behalf of its 
membership). The FCA is pleased to note that the comments received 
address a wide variety of issues and contained a number of useful 
ideas.
    A majority of the comments involve regulatory projects that the FCA 
Board previously identified in the Unified Agenda of Regulations 
published in the Federal Register on October 25, 1993 (58 FR 57276). 
These ongoing projects are Standards of Conduct, Eligibility and Scope 
of Financing, Collateral Evaluation, Borrower Rights, Capitalization, 
and Financially Related Services, and Disposition of Records; Federal 
Records. The FCA work groups already organized to review these issues 
will consider the comments received within the scope of these existing 
regulatory projects. An analysis and appropriate response to these 
comments will be included as part of the regulatory action published in 
the Federal Register. The remaining issues resulting from the Statement 
on Regulatory Burden that were not included in the Unified Agenda of 
Regulations include the following: Organization; Loan Policies and 
Operations; Bank for Cooperatives Financing International Trade; 
Funding; Disclosure; Accounting and Reporting; Examination Issues; and 
Miscellaneous Issues such as releasing information. Additional work 
groups have been established to analyze the comments and make 
recommendations to the FCA Board regarding action on the suggestions. 
The public will be notified of the FCA Board's decisions in an 
appropriate manner.

    Dated March 29, 1994.
Curtis M. Anderson,
Secretary, Farm Credit Administration Board.
[FR Doc. 94-7957 Filed 4-1-94; 8:45 am]
BILLING CODE 6705-01-P