[Federal Register Volume 79, Number 246 (Tuesday, December 23, 2014)]
[Proposed Rules]
[Pages 76927-76928]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-30061]
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FARM CREDIT ADMINISTRATION
12 CFR Parts 607, 614, 615, 620 and 628
RIN 3052-AC81
Regulatory Capital Rules: Regulatory Capital, Implementation of
Tier 1/Tier 2 Framework
AGENCY: Farm Credit Administration.
ACTION: Proposed rule; extension of comment period.
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SUMMARY: The Farm Credit Administration (FCA or we) published a
proposed rule that would revise our regulatory capital requirements for
Farm Credit System (System) institutions to include tier 1 and tier 2
risk-based capital ratio requirements (replacing core surplus and total
surplus requirements), a tier 1 leverage requirement (replacing a net
collateral requirement for System banks), a capital conservation
buffer, revised risk weightings, and additional public disclosure
requirements. The revisions to the risk weightings would include
alternatives to the use of credit ratings, as required by section 939A
of the Dodd-Frank Wall Street Reform and Consumer Protection Act. To
allow interested parties additional time to submit comments, we are
extending the comment period on the proposed rule from January 2, 2015
to February 16, 2015.
DATES: Comments on the proposed rule must be submitted on or before
February 16, 2015.
ADDRESSES: For accuracy and efficiency reasons, commenters are
encouraged to submit comments by email or through the FCA's Web site.
As facsimiles (fax) are difficult for us to process and achieve
compliance with section 508 of the Rehabilitation Act, we no longer
accept comments submitted by fax. 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:
Email: Send an email to [email protected].
FCA Web site: http://www.fca.gov. Select ``Public
Commenters,'' then ``Public Comments,'' and follow the directions for
``Submitting a Comment.''
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
Mail: Barry F. Mardock, Deputy Director, Office of
Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive,
McLean, VA 22102-5090.
You may review copies of all 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 ``Public Commenters,'' then ``Public
Comments,'' and follow the directions for ``Reading Submitted Public
Comments.'' We will show your comments as submitted, including any
supporting data provided, 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 email addresses to help
reduce Internet spam.
FOR FURTHER INFORMATION CONTACT: J. C. Floyd, Associate Director,
Finance and Capital Markets Team, Office of Regulatory Policy, Farm
Credit Administration, McLean, VA 22102-5090, (703) 883-4414, TTY (703)
883-4434, or Rebecca S. Orlich, Senior Counsel, or Jennifer A. Cohn,
Senior Counsel, Office of General Counsel, Farm Credit Administration,
McLean,
[[Page 76928]]
VA 22102-5090, (703) 883-4020, TTY (703) 883-4020.
SUPPLEMENTARY INFORMATION: On September 4, 2014, the FCA published a
proposed rule in the Federal Register seeking public comment on
proposed changes to our capital regulations. See 79 FR 52814. The
comment period is scheduled to close on January 2, 2015. The FCA
received several letters in response to the proposed rule requesting we
extend the comment period by 90 days. The requesters asserted that the
proposed rule would have the most impact of any rule the FCA has ever
adopted and is the longest and most complex proposal in the System's
history. In addition, they noted that its comment period overlapped
with the comment periods of several other important regulations and
also with year-end business planning. They would like additional time
to evaluate the impact of the rule.
The FCA supports public involvement and participation in its
regulatory process and invites all interested parties to review and
comment on our proposed rule. We balanced the reasons provided with the
request for more time against the substantial time period the
requesters have had to consider and provide comments on the rule.\1\ As
a result, we are extending the comment period 45 days instead of the
requested 90 days.
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\1\ As of December 10, 2014, the Agency has received over 560
comment letters on the proposed rule.
Dated: December 17, 2014.
Mary Alice Donner,
Acting Secretary, Farm Credit Administration Board.
[FR Doc. 2014-30061 Filed 12-22-14; 8:45 am]
BILLING CODE 6705-01-P