[Federal Register Volume 71, Number 80 (Wednesday, April 26, 2006)]
[Proposed Rules]
[Page 24613]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-6294]


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 Proposed Rules
                                                 Federal Register
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 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
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  Federal Register / Vol. 71, No. 80 / Wednesday, April 26, 2006 / 
Proposed Rules  

[[Page 24613]]



FARM CREDIT ADMINISTRATION

12 CFR Parts 652 and 655

RIN 3052-AC17


Federal Agricultural Mortgage Corporation Funding and Fiscal 
Affairs; Federal Agricultural Mortgage Corporation Disclosure and 
Reporting Requirements; Risk-Based Capital Requirements

ACTION: Proposed rule; reopening of the comment period.

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SUMMARY: The Farm Credit Administration (FCA) is reopening the comment 
period on the proposed rule that would revise risk-based capital 
requirements for the Federal Agricultural Mortgage Corporation (Farmer 
Mac or Corporation) so that interested parties will have additional 
time to provide comments.

DATES: Please send your comments to us on or before May 17, 2006.

ADDRESSES: You may mail or deliver comments to Robert Coleman, 
Director, Office of Secondary Market Oversight, Farm Credit 
Administration, 1501 Farm Credit Drive, McLean, Virginia 22102-5090, or 
send them by facsimile transmission to (703) 883-4477. You may also 
submit your comments by electronic mail to [email protected], or through 
the Pending Regulations section of our Web site at http://www.fca.gov, 
or through the Government-wide Web site http://www.regulations.gov. You 
may review copies of comments we receive at our office in McLean, 
Virginia, or from our Web site at ``http://www.fca.gov.'' Once you are 
in the Web site, select ``Legal Info,'' and then select ``Public 
Comments.'' We will show your comments as submitted, but for technical 
reasons we may omit items such as logos and special characters. 
Identifying information you provide, such as phone numbers and 
addresses, will be publicly available. However, we will attempt to 
remove electronic-mail addresses to help reduce Internet spam.

FOR FURTHER INFORMATION CONTACT: Joseph T. Connor, Associate Director 
for Policy and Analysis, Office of Secondary Market Oversight, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4280, TTY (703) 
883-4434; or
    Rebecca S. Orlich, Senior Counsel, Office of General Counsel, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 
883-4020.

SUPPLEMENTARY INFORMATION: On November 17, 2005, FCA published a 
proposed rule in the Federal Register to amend regulations in parts 652 
and 655 that establish a risk-based capital stress test for the 
Corporation as required by section 8.32 of the Farm Credit Act of 1971, 
as amended (12 U.S.C. 2279bb-1). See 70 FR 69692, November 17, 2005. 
The 90-day comment period on the proposed rule was scheduled to expire 
on February 15, 2006, but was extended for 60 days to April 17, 2006, 
in a Federal Register notice published on February 13, 2006, in 
response to a request for additional time. See 71 FR 7446, February 13, 
2006. The FCA has now received requests from both a commercial bank and 
several Farm Credit System institutions to delay action on the rule 
until they have had sufficient time to prepare comments. These parties 
indicate additional time is needed to respond to this highly technical 
and complex proposed rule.
    In response to these requests, we are reopening the comment period 
until May 17, 2006. The FCA supports public involvement and 
participation in its regulatory process and invites all interested 
parties to review and provide their comments on the proposed rule. The 
FCA does not anticipate any further extensions to the comment period.

    Dated: April 20, 2006.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
 [FR Doc. E6-6294 Filed 4-25-06; 8:45 am]
BILLING CODE 6705-01-P