[Federal Register Volume 89, Number 20 (Tuesday, January 30, 2024)]
[Rules and Regulations]
[Page 5760]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01738]


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FARM CREDIT ADMINISTRATION

12 CFR Parts 619 and 627

RIN 3052-AD48


Conservators and Receivers

AGENCY: Farm Credit Administration.

ACTION: Notification of effective date.

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SUMMARY: The Farm Credit Administration (FCA) issued a final rule that 
amended our conservators and receiver regulations for Farm Credit 
System (FCS) banks, associations, service corporations, and the Federal 
Farm Credit Banks Funding Corporation (Funding Corporation).

DATES: This final rule was published on November 24, 2023 (88 FR 
82238), is effective as of January 17, 2024.

FOR FURTHER INFORMATION CONTACT: 
    Technical information: Jason Moore, Associate Director, Office of 
Regulatory Policy, Farm Credit Administration, McLean, VA 22102-5090, 
(703) 883-4414, TTY (703) 883-4056; or
    Legal Information: Karen Hunter, Attorney Advisor, or Richard A. 
Katz, Senior Counsel, Office of General Counsel, Farm Credit 
Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-
4056.

SUPPLEMENTARY INFORMATION: On November 9, 2023, FCA issued a final rule 
that amended our regulations governing the appointment of the Farm 
Credit System Insurance Corporation (FCSIC) as the conservator or 
receiver of FCS banks, associations, service corporations, and the 
Funding Corporation. The final rule ensures that FCA conservatorship 
and receivership regulations are consistent with section 5412 of the 
Agricultural Improvement Act of 2018, which added section 5.61C to the 
Farm Credit Act of 1971, as amended(12 U.S.C. 2277a-10c), to 
strengthen, update and clarify FCSIC's powers as the conservator or 
receiver of these above-mentioned FCS institutions. Additionally, the 
final rule consolidates and reorganizes FCA's conservatorship and 
receivership regulations so they are easier to understand and use. 
Finally, FCA made conforming amendments to its definitional regulations 
in Part 619 to exempt bridge System banks from other FCA regulations 
that apply to viable and solvent FCS banks.
    In accordance with 12 U.S.C. 2252(c)(1), 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. Based on the records of the sessions of Congress, the 
effective date of the regulations is January 17, 2024.

    Dated: January 24, 2024.
Ashley Waldron,
Secretary to the Board, Farm Credit Administration.
[FR Doc. 2024-01738 Filed 1-29-24; 8:45 am]
BILLING CODE 6705-01-P