[Federal Register Volume 65, Number 33 (Thursday, February 17, 2000)]
[Rules and Regulations]
[Pages 8023-8024]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-3681]


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FARM CREDIT ADMINISTRATION

12 CFR Parts 611 and 620

RIN 3052-AB85


Organization; Disclosure to Shareholders; Regulatory Burden; 
Correction

AGENCY: Farm Credit Administration (FCA).

ACTION: Correcting amendment.

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SUMMARY: The Farm Credit Administration (FCA) published a direct Final 
rule (64 FR 43046, August 9, 1999) that reduced regulatory burden on 
the Farm Credit System (FCS or System) by repealing or amending 16 
regulations. This document corrects technical errors in the direct 
final rule.

EFFECTIVE DATE: October 13, 1999.

FOR FURTHER INFORMATION CONTACT: Cindy R. Nicholson, Technical Editor, 
Office of Policy and Analysis, Farm Credit Administration, McLean, VA 
22102-5090, (703) 883-4498, TDD (703) 883-4444.

SUPPLEMENTARY INFORMATION: We inadvertently failed to make a 
nomenclature change in the Regulatory Burden direct final rule 
published on August 9, 1999 (64 FR 43046) which affected Secs. 611.400 
and 620.5.

List of Subjects in 12 CFR Parts 611 and 620

    Accounting, Agriculture, Banks, banking, Reporting and 
recordkeeping requirements, Rural areas.

    For the reasons stated above, parts 611 and 620 of chapter VI, 
title 12 of the Code of Federal Regulations are corrected as follows:

PART 611--ORGANIZATION

    1. The authority citation for part 611 continues to read as 
follows:

    Authority: Secs. 1.3, 1.13, 2.0, 2.10, 3.0, 3.21, 4.12, 4.15, 
4.20, 4.21, 5.9, 5.10, 5.17, 7.0-7.13, 8.5(e) of the Farm Credit Act 
(12 U.S.C. 2011, 2021, 2071, 2091, 2121, 2142, 2183, 2203, 2208, 
2209, 2243, 2244, 2252, 2279a-2279f-1, 2279aa-5(e)); secs. 411 and 
412 of Pub. L. 100-233, 101 Stat. 1568, 1638; secs. 409 and 414 of 
Pub. L. 100-399, 102 Stat. 989, 1003, and 1004.

Subpart D--Rules for Compensation of Board Members

    2. Section 611.400 is amended by correcting paragraph (e) to read 
as follows:


Sec. 611.400  Compensation of bank board members.

* * * * *
    (e) Directors may also be reimbursed for reasonable travel, 
subsistence, and other related expenses in accordance with the bank's 
policy.

PART 620--DISCLOSURE TO SHAREHOLDERS

    3. The authority citation for part 620 continues to read as 
follows:

    Authority: Secs. 5.17, 5.19, 8.11 of the Farm Credit Act (12 
U.S.C. 2252, 2254, 2279aa-11); sec. 424 of Pub. L. 100-233, 101 
Stat. 1568, 1656.

Subpart B--Annual Report to Shareholders

    4. Section 620.5 is amended by correcting the first sentence of 
paragraph (i)(3)(i) to read as follows:


Sec. 620.5  Contents of the annual report to shareholders.

* * * * *
    (i) * * *
    (3) * * *
    (i) Briefly describe your policy addressing reimbursements for 
travel, subsistence, and other related expenses

[[Page 8024]]

as it applies to directors and senior officers. * * *
* * * * *

    Dated: February 10, 2000.
Vivian L. Portis,
Secretary Farm Credit Administration Board.
[FR Doc. 00-3681 Filed 2-16-00; 8:45 am]
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