[Federal Register Volume 81, Number 200 (Monday, October 17, 2016)]
[Rules and Regulations]
[Page 71356]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-25050]


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FARM CREDIT ADMINISTRATION

12 CFR Parts 650, 651, 653, and 655

RIN 3052-AC89


Federal Agricultural Mortgage Corporation Governance; Standards 
of Conduct; Risk Management; and Disclosure and Reporting

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA, we, Agency or our) 
amended our regulations to related to the Federal Agricultural Mortgage 
Corporation's (Farmer Mac or Corporation) risk governance and making 
enhancements to existing disclosure and reporting requirements. The 
risk governance regulations require the Corporation to establish and 
maintain a board-level risk management committee and a risk officer, as 
well as risk management policies and internal controls. The changes to 
disclosure and reporting requirements remove repetitive reporting and 
allow for electronic filing of reports. We also finalized rules on the 
examination and enforcement authorities held by the FCA Office of 
Secondary Market Oversight over the Corporation. In accordance with the 
law, the effective date of the rule is no earlier than 30 days from the 
date of publication in the Federal Register during which either or both 
Houses of Congress are in session.

DATES: Effective date: Under the authority of 12 U.S.C. 2252, the 
regulation amending 12 CFR parts 650, 651, 653, and 655 published on 
July 27, 2016 (81 FR 49139) is effective October 17, 2016.

FOR FURTHER INFORMATION CONTACT: 
Joseph Connor, Associate Director for Policy and Analysis, Office of 
Secondary Market Oversight, Farm Credit Administration, McLean, VA 
22102-5090, (703) 883-4364, TTY (703) 883-4056,
or
Laura McFarland, Senior Counsel, Office of General Counsel, Farm Credit 
Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-
4056.

SUPPLEMENTARY INFORMATION: The Farm Credit Administration amended our 
regulations related to the Federal Agricultural Mortgage Corporation's 
(Farmer Mac or Corporation) risk governance and making enhancements to 
existing disclosure and reporting requirements. The risk governance 
regulations require the Corporation to establish and maintain a board-
level risk management committee and a risk officer, as well as risk 
management policies and internal controls. The changes to disclosure 
and reporting requirements remove repetitive reporting and allow for 
electronic filing of reports. We also finalized rules on the 
examination and enforcement authorities held by the FCA Office of 
Secondary Market Oversight over the Corporation. In accordance with 12 
U.S.C. 2252, the effective date of the final rule is no earlier than 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 
October 17, 2016.

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

    Dated: October 12, 2016.
 Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2016-25050 Filed 10-14-16; 8:45 am]
 BILLING CODE 6705-01-P