[Federal Register Volume 73, Number 121 (Monday, June 23, 2008)]
[Proposed Rules]
[Page 35361]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-14101]


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FARM CREDIT ADMINISTRATION

12 CFR Chapter VI

RIN 3052-AC39


Statement on Regulatory Burden

AGENCY: Farm Credit Administration.

ACTION: Notice of intent; request for comment.

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SUMMARY: The Farm Credit Administration (FCA, our, or we) is issuing a 
notice of regulatory review and request for comment. The FCA will 
review its regulations to consider whether existing regulations are 
inefficient or burdensome. The FCA is seeking public comment on the 
appropriateness of the requirements it imposes on the Farm Credit 
System (System). We ask for comments on our regulations that may 
duplicate other requirements, are ineffective, or impose burdens that 
are greater than the benefits received. We are taking this action to 
improve the regulatory framework within which System institutions 
operate.

DATES: Please send your comments to the FCA by August 22, 2008.

ADDRESSES: We offer a variety of methods for you to submit your 
comments. For accuracy and efficiency reasons, commenters are 
encouraged to submit comments by e-mail or through the FCA's Web site 
or the Federal eRulemaking Web site. As faxes are difficult for us to 
process and achieve compliance with section 508 of the Rehabilitation 
Act, please consider another means to submit your comment if possible. 
Regardless of the method you use, please do not submit your comment 
multiple times via different methods. You may submit comments by any of 
the following methods:
     E-mail: Send us an e-mail at [email protected].
     FCA Web Site: http://www.fca.gov. Select ``Public 
Commenters,'' then ``Public Comments,'' and follow the directions for 
``Submitting a Comment.''
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
     Mail: Gary K. Van Meter, Deputy Director, Office of 
Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive, 
McLean, VA 22102-5090.
     Fax: (703) 883-4477. Posting and processing of faxes may 
be delayed. Please consider another means to comment, if possible.

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 ``Public Commenters,'' then ``Public Comments,'' 
and follow the directions for ``Reading Submitted 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 that you provide, such as phone numbers and addresses, will 
be publicly available. However, we will attempt to remove e-mail 
addresses to help reduce Internet spam.

FOR FURTHER INFORMATION CONTACT: Jacqui Melvin, Policy Analyst, Office 
of Regulatory Policy, Farm Credit Administration, McLean, VA 22102-
5090, (703) 883-4268, TTY (703) 883-4434, or Mary Alice Donner, Senior 
Attorney, Office of General Counsel, Farm Credit Administration, 
McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-4020.

SUPPLEMENTARY INFORMATION:

I. Objective

    The objective of this notice is to continue our comprehensive 
review of regulations governing the System and to eliminate, consistent 
with law, safety, and soundness, all regulations that are unnecessary, 
unduly burdensome or costly, or not based on the law. We are requesting 
public comment to identify FCA regulations that:
     May duplicate other requirements;
     Are ineffective; or
     Impose burdens that are greater than the benefits 
received.

To accomplish our objective, we are targeting particular regulations 
for a more focused and in-depth review.

II. Background

    The FCA is the independent Federal agency in the executive branch 
of the Government responsible for examining and regulating System 
institutions. As a Government-sponsored enterprise, the System 
primarily provides loans to farmers, ranchers, aquatic producers and 
harvesters, agricultural cooperatives, and rural utilities.

III. Regulations Under Review

    The regulations of FCA that are subject to regulatory review 
described in this notice are codified in title 12, chapter VI, of the 
Code of Federal Regulations. In our previous notices, we asked the 
public to comment on all of our regulations, and we were able to 
accomplish our objective of reducing regulatory burden. In this notice, 
we would like the public to comment specifically on these targeted 
regulations:
    (1) Part 607--Assessment and Apportionment of Administrative 
Expenses;
    (2) Part 614--Loan Policies and Operations;
    (3) Part 616--Leasing;
    (4) Part 617--Borrower Rights;
    (5) Part 618--General Provisions; and
    (6) Part 626--Nondiscrimination in Lending.

IV. Requesting Comments

    Your comments are appreciated and will assist us in our continuing 
efforts to identify and reduce regulatory burden on System 
institutions. We will also continue our efforts to maintain and adopt 
regulations and policies that are necessary to implement the Farm 
Credit Act of 1971, as amended, and ensure the safety and soundness of 
the System. These actions will enable the System to better serve 
America's farmers, ranchers, aquatic producers and harvesters, 
agricultural cooperatives, and rural utilities in changing agricultural 
credit markets.

    Dated: June 17, 2008.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. E8-14101 Filed 6-20-08; 8:45 am]
BILLING CODE 6705-01-P