Farm credit system: Electronic commerce and disclosure to shareholders,

[Federal Register: May 8, 2002 (Volume 67, Number 89)]

[Rules and Regulations]

[Page 30772]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr08my02-5]

FARM CREDIT ADMINISTRATION

12 CFR Parts 609 and 620

RIN 3052-AC02

Electronic Commerce; Disclosure to Shareholders; Effective Date

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

SUMMARY: The Farm Credit Administration (FCA) published a final rule under parts 609 and 620 on April 8, 2002 (67 FR 16627). This final rule creates a new part on Electronic Commerce (E-commerce) and amends another part to specifically allow electronic disclosures. These changes reflect emerging business approaches to E-commerce. The final rule removes regulatory barriers to E-commerce and creates a flexible regulatory environment that facilitates the safe and sound use of new technologies by Farm Credit System (System) institutions and their customers. In accordance with 12 U.S.C. 2252, the effective date of the final rule is 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 May 8, 2002.

EFFECTIVE DATE: The regulation amending 12 CFR parts 609 and 620 published on April 8, 2002 (67 FR 16627) is effective May 8, 2002.

FOR FURTHER INFORMATION CONTACT: Dale Aultman, Policy Analyst, Office of Policy and Analysis, Farm Credit Administration, McLean, VA 22102- 5090, (703) 883-4498, TTY (703) 883-4434; or Jane Virga, Senior Attorney, Office of General Counsel, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-2020.

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

Dated: May 3, 2002. Kelly Mikel Williams, Secretary, Farm Credit Administration Board.

[FR Doc. 02-11400Filed5-7-02; 8:45 am]

BILLING CODE 6705-01-P