Criteria To Reinstate Non-Accrual Loans

• Published date: 18 November 2020
• Citation: 85 FR 73401
• Record Number: 2020-24005
• Section: Rules and Regulations
• Court: Farm Credit Administration

Federal Register, Volume 85 Issue 223 (Wednesday, November 18, 2020)

[Federal Register Volume 85, Number 223 (Wednesday, November 18, 2020)]
                [Rules and Regulations]
                [Page 73401]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2020-24005]
                ========================================================================
                Rules and Regulations
                 Federal Register
                ________________________________________________________________________
                This section of the FEDERAL REGISTER contains regulatory documents
                having general applicability and legal effect, most of which are keyed
                to and codified in the Code of Federal Regulations, which is published
                under 50 titles pursuant to 44 U.S.C. 1510.
                The Code of Federal Regulations is sold by the Superintendent of Documents.
                ========================================================================
                Federal Register / Vol. 85, No. 223 / Wednesday, November 18, 2020 /
                Rules and Regulations
                [[Page 73401]]
                FARM CREDIT ADMINISTRATION
                12 CFR Parts 611, 615, and 621
                RIN 3052-AD09
                Criteria To Reinstate Non-Accrual Loans
                AGENCY: Farm Credit Administration.
                ACTION: Notification of effective date.
                -----------------------------------------------------------------------
                SUMMARY: The Farm Credit Administration (FCA or we) issued a final rule
                amending regulations governing how high-risk loans within the Farm
                Credit System are classified as being in nonaccrual status and revising
                related reinstatement criteria. 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: The regulation amending 12 CFR parts 611, 615, and 621 published
                on August 25, 2020 (85 FR 52248) is effective on October 21, 2020.
                FOR FURTHER INFORMATION CONTACT:
                 Technical information: Ryan Leist, Senior Accountant, Office of
                Regulatory Policy, (703) 883-4223, TTY (703) 883-4056, [email protected].
                 Legal information: Laura McFarland, Senior Counsel, Office of
                General Counsel, (703) 883-4020, TTY (703) 883-4056,
                [email protected].
                SUPPLEMENTARY INFORMATION: On August 25, 2020, FCA issued a final rule
                to enhance the usefulness of high-risk loan categories; replace the
                subjective measure of ``reasonable doubt'' used for reinstating loans
                to accrual status with a measurable standard; improve the timely
                recognition of a change in a loan's status; and update existing
                terminology and make other grammatical changes.
                 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 October 21, 2020.
                 Dated: October 26, 2020.
                Dale Aultman,
                Secretary, Farm Credit Administration Board.
                [FR Doc. 2020-24005 Filed 11-17-20; 8:45 am]
                BILLING CODE 6705-01-P