[Federal Register Volume 72, Number 225 (Friday, November 23, 2007)]
[Rules and Regulations]
[Page 65655]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-22805]



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  Federal Register / Vol. 72, No. 225 / Friday, November 23, 2007 / 
Rules and Regulations  

[[Page 65655]]



FARM CREDIT ADMINISTRATION

12 CFR Part 627

RIN 3052-AC38


Title IV Conservators, Receivers, and Voluntary Liquidations; 
Priority of Claims--Subordinated Debt; Effective Date

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA or Agency), through the 
FCA Board (Board), issued a direct final rule with opportunity for 
comment under part 627 on September 26, 2007 (72 FR 54525) amending the 
priority of claims regulations to provide that, when assets of a Farm 
Credit System institution in liquidation are distributed, the claims of 
holders of subordinated debt will be paid after all general creditor 
claims. The opportunity for comment expired on October 26, 2007. The 
FCA received no comments and therefore, the direct 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 November 16, 2007.

DATES: Effective Date: The regulation amending 12 CFR part 627 
published on September 26, 2007 (72 FR 54525) is effective November 16, 
2007.

FOR FURTHER INFORMATION CONTACT: 

Christopher D. Wilson, Policy Analyst, Office of Regulatory Policy, 
Farm Credit Administration, McLean, Virginia 22102-5090, (703) 883-
4498, TTY (703) 883-4434, or
Rebecca S. Orlich, Senior Counsel, Office of General Counsel, Farm 
Credit Administration, McLean, Virginia 22102-5090, (703) 883-4020, TTY 
(703) 883-4020.

(12 U.S.C. 2252(a)(9) and (10))

    Dated: November 16, 2007.
James M. Morris,
Acting Secretary, Farm Credit Administration Board.
[FR Doc. E7-22805 Filed 11-21-07; 8:45 am]
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