[Federal Register Volume 79, Number 38 (Wednesday, February 26, 2014)]
[Rules and Regulations]
[Page 10661]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-04197]



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Rules and Regulations
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Federal Register / Vol. 79, No. 38 / Wednesday, February 26, 2014 / 
Rules and Regulations

[[Page 10661]]



FARM CREDIT ADMINISTRATION

12 CFR Parts 602, 618, and 621

RIN 3052-AC76


Releasing Information; General Provisions; Accounting and 
Reporting Requirements; Reports of Accounts and Exposures

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA or we) adopted a final 
rule to establish a regulatory framework for the reliable, timely, 
accurate, and complete reporting of Farm Credit System (System) 
accounts and exposures for examination activities and risk evaluation. 
The final rule specifies the reporting requirements and performance 
responsibilities, including, but not limited to, establishing uniform 
and standard data fields to be collected from all System institutions 
and a disciplined and secure delivery of information. The final rule 
authorizes a Reporting Entity (defined as the Federal Farm Credit Banks 
Funding Corporation or an entity approved by FCA), to collect data from 
all banks and associations and serve as the central data repository 
manager. Additionally, the final rule requires all banks and 
associations to provide data to the Reporting Entity to facilitate the 
collection, enhancement, and reporting of data to FCA. In accordance 
with the law, the effective date of the rule is 30 days from the date 
of publication in the Federal Register during which either or both 
Houses of Congress are in session.

DATES: 
    Effective date: Under the authority of 12 U.S.C. 2252, the 
regulation amending 12 CFR parts 602, 618, and 621 published on 
December 24, 2013 (78 FR 77557), is effective February 21, 2014.
    Compliance Date: All provisions of this regulation require 
compliance on the effective date, except the Reporting Entity's 
requirements under Sec.  621.15(b)(1) through (6). We are delaying 
compliance with these requirements to allow for the development of and 
transition to the System's central data repository. We will publish the 
compliance date for these requirements in the Federal Register.

FOR FURTHER INFORMATION CONTACT:
Susan Coleman, Senior Policy Analyst, Office of Regulatory Policy, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4491, TTY (703) 
883-4056, or
Jane Virga, Senior Counsel, Office of General Counsel, Farm Credit 
Administration, McLean, VA 22102-5090, (703) 883-4020, TTY (703) 883-
4056.

SUPPLEMENTARY INFORMATION: The Farm Credit Administration (FCA or we) 
adopted a final rule to establish a regulatory framework for the 
reliable, timely, accurate, and complete reporting of Farm Credit 
System (System) accounts and exposures for examination activities and 
risk evaluation. The final rule specifies the reporting requirements 
and performance responsibilities, including, but not limited to, 
establishing uniform and standard data fields to be collected from all 
System institutions and a disciplined and secure delivery of 
information. The final rule authorizes a Reporting Entity (defined as 
the Federal Farm Credit Banks Funding Corporation or an entity approved 
by FCA), to collect data from all banks and associations and serve as 
the central data repository manager. Additionally, the final rule 
requires all banks and associations to provide data to the Reporting 
Entity to facilitate the collection, enhancement, and reporting of data 
to FCA. 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 February 21, 2014.

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

    Dated: February 21, 2014.
Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2014-04197 Filed 2-25-14; 8:45 am]
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