[Federal Register Volume 63, Number 42 (Wednesday, March 4, 1998)]
[Rules and Regulations]
[Page 10515]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5551]


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FARM CREDIT ADMINISTRATION

12 CFR Part 614

RIN 3052-AB78


Loan Policies and Operations; Loan Sales Relief; Effective

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA) published a direct final 
rule, with opportunity for comment, amending part 614 on December 2, 
1997 (62 FR 63644). The final rule conforms the regulations to recent 
statutory amendments to the Farm Credit Act of 1971, as amended, (Act) 
made by sections 206 and 208 of the Farm Credit System Reform Act of 
1996 (1996 Act). These amendments provide that loans designated by Farm 
Credit System institutions for sale into a secondary market are not 
subject to minimum stock purchase or borrower rights requirements. The 
opportunity for comment expired on January 2, 1998. The FCA received no 
comments and therefore, the final rule becomes effective without 
change. 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 4, 1998.

EFFECTIVE DATE: The regulation amending 12 CFR part 614 published on 
December 2, 1998 (62 FR 63644) is effective March 4, 1998.

FOR FURTHER INFORMATION CONTACT:
John J. Hays, Policy Analyst, Office of Policy and Analysis, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4498;
      or 
William L. Larsen, Senior Attorney, 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: February 27, 1998.
Floyd Fithian,
Secretary, Farm Credit Administration Board.
[FR Doc. 98-5551 Filed 3-3-98; 8:45 am]
BILLING CODE 6705-01-P