District Financial Reporting

• Published date: 05 January 2021
• Citation: 86 FR 223
• Record Number: 2020-27191
• Section: Rules and Regulations
• Court: Farm Credit Administration

Federal Register, Volume 86 Issue 2 (Tuesday, January 5, 2021)

[Federal Register Volume 86, Number 2 (Tuesday, January 5, 2021)]
                [Rules and Regulations]
                [Page 223]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2020-27191]
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                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.
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                Federal Register / Vol. 86, No. 2 / Tuesday, January 5, 2021 / Rules
                and Regulations
                [[Page 223]]
                FARM CREDIT ADMINISTRATION
                12 CFR Part 620
                RIN 3052-AD37
                District Financial Reporting
                AGENCY: Farm Credit Administration.
                ACTION: Notification of effective date.
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                SUMMARY: The Farm Credit Administration (FCA or we) is amending our
                regulations governing how a Farm Credit bank presents information on
                its related associations when preparing annual bank financial
                statements on a stand-alone basis. The final rule provides two
                presentation options when disclosing related association financial
                information in an annual bank report: By footnote or attached in a
                supplement.
                DATES: The regulation amending 12 CFR part 620 published on October 8,
                2020 (85 FR 63428) is effective on December 4, 2020.
                FOR FURTHER INFORMATION CONTACT:
                 Technical information: Joi Neal, 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 October 8, 2020, FCA issued a final rule
                to improve shareholder access to district financial information by
                providing an additional method of presenting financial information on a
                bank's related associations to those banks preparing annual financial
                statements on a stand-alone basis.
                 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 regulation is December 4, 2020.
                 Dated: December 7, 2020.
                Dale Aultman,
                Secretary, Farm Credit Administration Board.
                [FR Doc. 2020-27191 Filed 1-4-21; 8:45 am]
                BILLING CODE 6705-01-P