Farm Credit Administration Board Policy Statements, 56195-56196 [E9-26230]
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VerDate Nov<24>2008
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Jkt 220001
Dated: October 27, 2009.
Robert W. Hargrove,
Director, NEPA Compliance Division, Office
of Federal Activities.
[FR Doc. E9–26179 Filed 10–29–09; 8:45 am]
BILLING CODE 6560–50–P
FARM CREDIT ADMINISTRATION
Farm Credit Administration Board
Policy Statements
Farm Credit Administration.
Notice.
AGENCY:
ACTION:
SUMMARY: The Farm Credit
Administration (FCA) is publishing the
list of FCA Board policy statements,
which includes three changes since its
last publication and one policy
statement in its entirety.
FOR FURTHER INFORMATION CONTACT:
Wendy Laguarda, Assistant General
Counsel, Office of General Counsel,
Farm Credit Administration, 1501 Farm
Credit Drive, McLean, Virginia 22102–
5090, (703) 883–4020, TTY (703) 883–
4020.
SUPPLEMENTARY INFORMATION: On
November 25, 2005, we published a list
of all current FCA Board policy
statements and the text of each in their
entirety. (See 70 FR 71142.) On June 13,
2006, we published just the list and
stated that there were no changes. (See
71 FR 34132.) Since then, we published
a revised policy statement (FCA–PS–62)
(71 FR 46481, Aug. 14, 2006). The list
being published today contains a
revised policy statement (FCA–PS–79)
which was originally published at 73 FR
9804, Feb. 22, 2008. We are publishing
the text of policy statement FCA–PS–79
in its entirety.
You can view each policy statement
online at https://www.fca.gov/
handbook.nsf. The FCA will continue to
publish new or revised policy
statements in their full text.
FCA Board Policy Statements
FCA–PS–34 Disclosure of the Issuance
and Termination of Enforcement
Documents
FCA–PS–37 Communications During
Rulemaking
FCA–PS–41 Alternative Means of
Dispute Resolution
FCA–PS–44 Travel
FCA–PS–53 Examination Philosophy
FCA–PS–59 Regulatory Philosophy
FCA–PS–62 Equal Employment
Opportunity Diversity
FCA–PS–64 Rules for the Transaction
of Business of the Farm Credit
Administration Board
FCA–PS–65 Release of Consolidated
Reporting System Information
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56195
FCA–PS–67 Nondiscrimination on the
Basis of Disability in Agency
Programs and Activities
FCA–PS–68 FCS Building Association
Management Operations Policies and
Practices
FCA–PS–71 Disaster Relief Efforts by
Farm Credit Institutions
FCA–PS–72 Financial Institution
Rating System (FIRS)
FCA–PS–77 Borrower Privacy
FCA–PS–78 Official Names of Farm
Credit System Institutions
FCA–PS–79 Consideration and
Referral of Supervisory Strategies and
Enforcement Actions
Consideration and Referral of
Supervisory Strategies and
Enforcement Actions
FCA–PS–79 [NV–09–16]
Effective Date: August 7, 2009.
Effect on Previous Action: Rescinds
and supersedes the previous PS–79.
Source of Authority: Sections 5.19,
5.25–5.35 of the Farm Credit Act of
1971, as amended.
The FCA board hereby adopts the
following policy statement:
The Farm Credit Administration (FCA
or Agency) Board provides for the
regulation and examination of Farm
Credit System (System or FCS)
institutions, which includes the Federal
Agricultural Mortgage Corporation
(Farmer Mac), in accordance with the
Farm Credit Act of 1971, as amended
(the ‘‘Act’’). This policy addresses
conditions that warrant referrals to the
Agency’s Regulatory Enforcement
Committee (REC) to consider
appropriate supervisory strategies and
recommend to the FCA Board the use of
the enforcement authorities conferred
on the Agency under Part C, Title V of
the Act or other statutes. Enforcement
actions include formal agreements,
orders to cease and desist, temporary
orders to cease and desist, civil money
penalties, suspensions or removals of
directors or officers, and conditions
imposed in writing to address unsafe or
unsound practices or violations of law,
rule or regulation (Enforcement
Document). Taking these actions, in an
appropriate and timely manner, is
critical to maintaining shareholder,
investor, and public confidence in the
financial strength and future viability of
the System.
This policy provides only internal
FCA guidance. It is not intended to
create any rights, substantive or
procedural, enforceable at law or in any
administrative proceeding.
Composition of the REC
The Chairman of the FCA Board will
designate the Chief Operating Officer
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30OCN1
56196
Federal Register / Vol. 74, No. 209 / Friday, October 30, 2009 / Notices
and the office directors of the Office of
Examination, Office of General Counsel,
and Office of Regulatory Policy, or the
directors of successor offices, as voting
members of the REC. A representative
from the Farm Credit System Insurance
Corporation will be invited to
participate in REC activities as a nonvoting member. The Chairman of the
FCA Board will also designate one of
the voting REC members as Chairman of
the REC.
Due to the statutory independence of
the Office of Secondary Market
Oversight (OSMO), there will be
different REC membership when
considering issues related to Farmer
Mac.
7. An institution or person fails to
comply with an Enforcement Document
or is unwilling or unable to address a
violation of a condition imposed in
writing; or
8. Conditions justify termination or
modification of an existing Enforcement
Document.
Referrals to the REC
Consultation With the REC
Recommended supervisory strategies
or enforcement actions concerning an
FCS institution or person will be
referred to the REC when any of the
conditions exist, as specified below, or
when a specified condition does not
exist, but consideration of an
enforcement action or review by the
REC is appropriate. The REC will review
the proposed actions and draft
enforcement documents and assess the
recommendations for pursuing any such
actions. The REC may revise the
recommendations and will document its
concurrence or nonconcurrence with
the supervisory strategy or enforcement
action.
For institutions under a formal
Enforcement Document, or assigned a
composite FIRS rating of ‘‘4’’ or ‘‘5’’,
requests for prior approvals, or other
actions, will be referred to the REC for
consultation.
sroberts on DSKD5P82C1PROD with NOTICES
Conditions Warranting Referral to the
REC
Any one of the following conditions
requires a referral to the REC for its
consideration of supervisory strategies
or enforcement actions.
1. A ‘‘4’’ or ‘‘5’’ composite FIRS rating
is assigned to an FCS institution;
2. The institution or person is deemed
unable or unwilling to address a
material: (a) Unsafe or unsound
condition or practice; or (b) violation or
ongoing violation of law or regulation;
3. The institution or person is about
to engage in a material unsafe or
unsound practice or is about to commit
a willful or material violation of law or
regulation that exposes the institution to
significant risk;
4. Conditions meet the statutory
criteria for a suspension or removal;
5. Conditions meet the statutory
criteria for assessing a civil money
penalty and the factors to be considered
in determining the amount of a civil
money penalty justify the imposition of
the penalty;
6. Conditions meet the statutory
criteria to place an FCS institution in
conservatorship or receivership;
VerDate Nov<24>2008
16:30 Oct 29, 2009
Jkt 220001
As appropriate, referrals for the REC’s
consideration also may be made for
conditions not specified above.
Notification of the REC
The REC will be notified when any
institution is assigned a ‘‘3’’ composite
FIRS rating and informed of the
Agency’s supervisory strategies.
Referral to the FCA Board
The REC will refer to the FCA Board
for its consideration all
recommendations concurred with by the
REC for the placement of an
Enforcement Document on a FCS
institution or person. In the unlikely
instance, when an institution receives a
composite ‘‘4’’ or ‘‘5’’ FIRS rating and a
formal Enforcement Document is not
recommended to the FCA Board, the
REC will promptly document and report
the Agency’s supervisory strategy to the
FCA Board.
Reporting to the FCA Board
The REC Chairman will report at least
quarterly to the FCA Board if matters are
referred to or reviewed by the REC, but
FCA Board action is not subsequently
requested.
Actions by the REC
The REC will develop procedures to
address the responsibilities outlined
herein.
Due to OSMO’s statutory
independence, the Director of OSMO
will develop procedures for actions
affecting Farmer Mac.
Dated this 7th day of August 2009 by
order of the Board.
Signed by: Roland E. Smith,
Secretary, Farm Credit Administration
Board.
Dated: October 26, 2009.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. E9–26230 Filed 10–29–09; 8:45 am]
BILLING CODE 6705–01–P
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FEDERAL COMMUNICATIONS
COMMISSION
Federal Advisory Committee Act;
Advisory Committee on Diversity for
Communications in the Digital Age
AGENCY: Federal Communications
Commission.
ACTION: Notice of public meeting.
SUMMARY: In accordance with the
Federal Advisory Committee Act, this
notice advises interested persons that
the Federal Communications
Commission’s (FCC) Advisory
Committee on Diversity for
Communications in the Digital Age
(‘‘Diversity Committee’’) will hold a
meeting on December 3, 2009 at 2 p.m.
in the Commission Meeting Room of the
Federal Communications Commission,
Room TW–C305, 445 12th Street, SW.,
Washington, DC 20554. This will be the
third meeting of the full Diversity
Committee under its renewed charter
and new membership.
DATES: December 3, 2009.
ADDRESSES: Federal Communications
Commission, Room TW–C305
(Commission Meeting Room), 445 12th
Street, SW., Washington, DC 20554.
FOR FURTHER INFORMATION CONTACT:
Barbara Kreisman, 202–418–1605;
Barbara.Kreisman@FCC.gov.
At this
meeting the Media Issues working group
will present a formal best practices
recommendation.
Members of the general public may
attend the meeting. The FCC will
attempt to accommodate as many
people as possible. However,
admittance will be limited to seating
availability. The public may submit
written comments before the meeting to:
Barbara Kreisman, the FCC’s Designated
Federal Officer for the Diversity
Committee by e-mail:
Barbara.Kreisman@fcc.gov or U.S.
Postal Service Mail (Barbara Kreisman,
Federal Communications Commission,
Room 2–A665, 445 12th Street, SW.,
Washington, DC 20554).
Open captioning will be provided for
this event. Other reasonable
accommodations for people with
disabilities are available upon request.
Requests for such accommodations
should be submitted via e-mail to
fcc504@fcc.gov or by calling the
Consumer & Governmental Affairs
Bureau at (202) 418–0530 (voice), (202)
418–0432 (tty). Such requests should
include a detailed description of the
accommodation needed. In addition,
please include a way we can contact
you if we need more information. Please
SUPPLEMENTARY INFORMATION:
E:\FR\FM\30OCN1.SGM
30OCN1
]]>Agencies
[Federal Register Volume 74, Number 209 (Friday, October 30, 2009)]
[Notices]
[Pages 56195-56196]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-26230]
=======================================================================
-----------------------------------------------------------------------
FARM CREDIT ADMINISTRATION
Farm Credit Administration Board Policy Statements
AGENCY: Farm Credit Administration.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Farm Credit Administration (FCA) is publishing the list of
FCA Board policy statements, which includes three changes since its
last publication and one policy statement in its entirety.
FOR FURTHER INFORMATION CONTACT: Wendy Laguarda, Assistant General
Counsel, Office of General Counsel, Farm Credit Administration, 1501
Farm Credit Drive, McLean, Virginia 22102-5090, (703) 883-4020, TTY
(703) 883-4020.
SUPPLEMENTARY INFORMATION: On November 25, 2005, we published a list of
all current FCA Board policy statements and the text of each in their
entirety. (See 70 FR 71142.) On June 13, 2006, we published just the
list and stated that there were no changes. (See 71 FR 34132.) Since
then, we published a revised policy statement (FCA-PS-62) (71 FR 46481,
Aug. 14, 2006). The list being published today contains a revised
policy statement (FCA-PS-79) which was originally published at 73 FR
9804, Feb. 22, 2008. We are publishing the text of policy statement
FCA-PS-79 in its entirety.
You can view each policy statement online at https://www.fca.gov/handbook.nsf. The FCA will continue to publish new or revised policy
statements in their full text.
FCA Board Policy Statements
FCA-PS-34 Disclosure of the Issuance and Termination of Enforcement
Documents
FCA-PS-37 Communications During Rulemaking
FCA-PS-41 Alternative Means of Dispute Resolution
FCA-PS-44 Travel
FCA-PS-53 Examination Philosophy
FCA-PS-59 Regulatory Philosophy
FCA-PS-62 Equal Employment Opportunity Diversity
FCA-PS-64 Rules for the Transaction of Business of the Farm Credit
Administration Board
FCA-PS-65 Release of Consolidated Reporting System Information
FCA-PS-67 Nondiscrimination on the Basis of Disability in Agency
Programs and Activities
FCA-PS-68 FCS Building Association Management Operations Policies and
Practices
FCA-PS-71 Disaster Relief Efforts by Farm Credit Institutions
FCA-PS-72 Financial Institution Rating System (FIRS)
FCA-PS-77 Borrower Privacy
FCA-PS-78 Official Names of Farm Credit System Institutions
FCA-PS-79 Consideration and Referral of Supervisory Strategies and
Enforcement Actions
Consideration and Referral of Supervisory Strategies and Enforcement
Actions
FCA-PS-79 [NV-09-16]
Effective Date: August 7, 2009.
Effect on Previous Action: Rescinds and supersedes the previous PS-
79.
Source of Authority: Sections 5.19, 5.25-5.35 of the Farm Credit
Act of 1971, as amended.
The FCA board hereby adopts the following policy statement:
The Farm Credit Administration (FCA or Agency) Board provides for
the regulation and examination of Farm Credit System (System or FCS)
institutions, which includes the Federal Agricultural Mortgage
Corporation (Farmer Mac), in accordance with the Farm Credit Act of
1971, as amended (the ``Act''). This policy addresses conditions that
warrant referrals to the Agency's Regulatory Enforcement Committee
(REC) to consider appropriate supervisory strategies and recommend to
the FCA Board the use of the enforcement authorities conferred on the
Agency under Part C, Title V of the Act or other statutes. Enforcement
actions include formal agreements, orders to cease and desist,
temporary orders to cease and desist, civil money penalties,
suspensions or removals of directors or officers, and conditions
imposed in writing to address unsafe or unsound practices or violations
of law, rule or regulation (Enforcement Document). Taking these
actions, in an appropriate and timely manner, is critical to
maintaining shareholder, investor, and public confidence in the
financial strength and future viability of the System.
This policy provides only internal FCA guidance. It is not intended
to create any rights, substantive or procedural, enforceable at law or
in any administrative proceeding.
Composition of the REC
The Chairman of the FCA Board will designate the Chief Operating
Officer
[[Page 56196]]
and the office directors of the Office of Examination, Office of
General Counsel, and Office of Regulatory Policy, or the directors of
successor offices, as voting members of the REC. A representative from
the Farm Credit System Insurance Corporation will be invited to
participate in REC activities as a non-voting member. The Chairman of
the FCA Board will also designate one of the voting REC members as
Chairman of the REC.
Due to the statutory independence of the Office of Secondary Market
Oversight (OSMO), there will be different REC membership when
considering issues related to Farmer Mac.
Referrals to the REC
Recommended supervisory strategies or enforcement actions
concerning an FCS institution or person will be referred to the REC
when any of the conditions exist, as specified below, or when a
specified condition does not exist, but consideration of an enforcement
action or review by the REC is appropriate. The REC will review the
proposed actions and draft enforcement documents and assess the
recommendations for pursuing any such actions. The REC may revise the
recommendations and will document its concurrence or nonconcurrence
with the supervisory strategy or enforcement action.
Conditions Warranting Referral to the REC
Any one of the following conditions requires a referral to the REC
for its consideration of supervisory strategies or enforcement actions.
1. A ``4'' or ``5'' composite FIRS rating is assigned to an FCS
institution;
2. The institution or person is deemed unable or unwilling to
address a material: (a) Unsafe or unsound condition or practice; or (b)
violation or ongoing violation of law or regulation;
3. The institution or person is about to engage in a material
unsafe or unsound practice or is about to commit a willful or material
violation of law or regulation that exposes the institution to
significant risk;
4. Conditions meet the statutory criteria for a suspension or
removal;
5. Conditions meet the statutory criteria for assessing a civil
money penalty and the factors to be considered in determining the
amount of a civil money penalty justify the imposition of the penalty;
6. Conditions meet the statutory criteria to place an FCS
institution in conservatorship or receivership;
7. An institution or person fails to comply with an Enforcement
Document or is unwilling or unable to address a violation of a
condition imposed in writing; or
8. Conditions justify termination or modification of an existing
Enforcement Document.
As appropriate, referrals for the REC's consideration also may be made
for conditions not specified above.
Notification of the REC
The REC will be notified when any institution is assigned a ``3''
composite FIRS rating and informed of the Agency's supervisory
strategies.
Consultation With the REC
For institutions under a formal Enforcement Document, or assigned a
composite FIRS rating of ``4'' or ``5'', requests for prior approvals,
or other actions, will be referred to the REC for consultation.
Referral to the FCA Board
The REC will refer to the FCA Board for its consideration all
recommendations concurred with by the REC for the placement of an
Enforcement Document on a FCS institution or person. In the unlikely
instance, when an institution receives a composite ``4'' or ``5'' FIRS
rating and a formal Enforcement Document is not recommended to the FCA
Board, the REC will promptly document and report the Agency's
supervisory strategy to the FCA Board.
Reporting to the FCA Board
The REC Chairman will report at least quarterly to the FCA Board if
matters are referred to or reviewed by the REC, but FCA Board action is
not subsequently requested.
Actions by the REC
The REC will develop procedures to address the responsibilities
outlined herein.
Due to OSMO's statutory independence, the Director of OSMO will
develop procedures for actions affecting Farmer Mac.
Dated this 7th day of August 2009 by order of the Board.
Signed by: Roland E. Smith, Secretary, Farm Credit Administration
Board.
Dated: October 26, 2009.
Roland E. Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. E9-26230 Filed 10-29-09; 8:45 am]
BILLING CODE 6705-01-P
