Farm credit system: Loan purchases and sales; definition,

[Federal Register: March 4, 2002 (Volume 67, Number 42)]

[Rules and Regulations]

[Page 9581]

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

[DOCID:fr04mr02-2]

FARM CREDIT ADMINISTRATION

12 CFR Parts 614 and 619

RIN 3052-AB93

Loan Policies and Operations; Definitions; Loan Purchases and Sales; Effective Date

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

SUMMARY: The Farm Credit Administration (FCA) published a final rule under parts 614 and 619 on January 10, 2002 (67 FR 1281). This final rule will enable Farm Credit System (FCS or System) institutions to better use existing statutory authority for loan participations by eliminating unnecessary regulatory restrictions that may have impeded effective participation relationships between System institutions and non-System lenders. We believe that these regulatory changes will improve the risk management capabilities of both System and non-System lenders and thereby, enhance the availability of reliable and competitive credit for agriculture and rural America. 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 March 4, 2002.

EFFECTIVE DATE: The regulation amending 12 CFR parts 614 and 619 published on January 10, 2002 (67 FR 1281) is effective March 4, 2002.

FOR FURTHER INFORMATION CONTACT: Mark L. Johansen, Policy Analyst, Office of Policy and Analysis, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4498; or James M. Morris, Senior Counsel, Office of General Counsel, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TDD (703) 883-4444.

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

Dated: February 27, 2002. Kelly Mikel Williams, Secretary, Farm Credit Administration Board.

[FR Doc. 02-5093Filed3-1-02; 8:45 am]

BILLING CODE 6705-01-P