Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Capital Adequacy; Basel Accord

Federal Register: March 26, 2008 (Volume 73, Number 59)

Proposed Rules

Page 15955

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

DOCID:fr26mr08-29

FARM CREDIT ADMINISTRATION 12 CFR Part 615

RIN 3052-AC25

Funding and Fiscal Affairs, Loan Policies and Operations, and

Funding Operations; Capital Adequacy--Basel Accord

AGENCY: Farm Credit Administration.

ACTION: Advance notice of proposed rulemaking (ANPRM); extension of comment period.

SUMMARY: The Farm Credit Administration (FCA, Agency or we) is extending the comment period on our ANPRM that seeks comments to facilitate the development of enhancements to our regulatory capital framework to more closely align minimum capital requirements with risks taken by Farm Credit System (FCS or System) institutions. We are extending the comment period so all interested parties will have additional time to provide comments.

DATES: You may send comments on or before December 31, 2008.

ADDRESSES: We offer several methods for the public to submit comments.

For accuracy and efficiency reasons, commenters are encouraged to submit comments by e-mail or through the Agency's Web site or the

Federal eRulemaking Portal. Regardless of the method you use, please do not submit your comments multiple times via different methods. You may submit comments by any of the following methods:

E-mail: Send us an e-mail at: reg-comm@fca.gov.

Agency Web site: http://www.fca.gov. Select ``Legal

Info,'' then ``Pending Regulations and Notices.''

Federal eRulemaking Portal: http://www.regulations.gov.

Follow the instructions for submitting comments.

Mail: Gary K. Van Meter, Deputy Director, Office of

Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive,

McLean, VA 22102-5090.

Fax: (703) 883-4477. Posting and processing of faxes may be delayed, as faxes are difficult for us to process and achieve compliance with section 508 of the Rehabilitation Act. Please consider another means to comment, if possible.

You may review copies of comments we receive at our office in

McLean, Virginia, or on our Web site at: http://www.fca.gov. Once you are in the Web site, select ``Legal Info,'' and then select ``Public

Comments.'' We will show your comments as submitted, but for technical reasons we may omit items such as logos and special characters.

Identifying information that you provide, such as phone numbers and addresses, will be publicly available. However, we will attempt to remove e-mail addresses to help reduce Internet spam.

FOR FURTHER INFORMATION CONTACT:

Laurie Rea, Associate Director, Office of Regulatory Policy, Farm

Credit Administration, McLean, VA 22102-5090, (703) 883-4232, TTY (703) 883-4434, or

Wade Wynn, Policy Analyst, Office of Regulatory Policy, Farm Credit

Administration, McLean, VA 22102-5090, (703) 883-4262, TTY (703) 883- 4434, or

Rebecca S. Orlich, Senior Counsel, Office of General Counsel, Farm

Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-4020.

SUPPLEMENTARY INFORMATION: On October 31, 2007, FCA published a notice in the Federal Register seeking public comment to facilitate the development of a proposed rule that would enhance our regulatory capital framework and more closely align minimum capital requirements with risks taken by System institutions. See 72 FR 61568. The comment period is scheduled to expire on March 31, 2008. In a letter dated

March 4, 2008, the Federal Farm Credit Banks Funding Corporation, on behalf of the System banks and associations, requested that the Agency extend the comment period until December 31, 2008. In view of the number and the complexity of the questions asked in the ANPRM, we have granted this request. The FCA supports public involvement and participation in its regulatory process and invites all interested parties to review and provide comments on our ANPRM.

Dated: March 21, 2008.

Roland E. Smith,

Secretary, Farm Credit Administration Board.

FR Doc. E8-6197 Filed 3-25-08; 8:45 am

BILLING CODE 6705-01-P