Releasing Information; General Provisions; Accounting and Reporting Requirements; Reports of Accounts and Exposures, 63033 [2014-25005]

Download as PDF Federal Register / Vol. 79, No. 204 / Wednesday, October 22, 2014 / Rules and Regulations FARM CREDIT ADMINISTRATION 12 CFR Part 621 RIN 3052–AC75 Releasing Information; General Provisions; Accounting and Reporting Requirements; Reports of Accounts and Exposures Farm Credit Administration. Final rule; notice of compliance AGENCY: ACTION: date. The Farm Credit Administration (FCA, we, or our) issued a final rule on December 24, 2013, to establish a regulatory framework for Farm Credit System (System) banks and associations to report their accounts and exposures to the FCA. The final rule required compliance as of the effective date, which was February 21, 2014, except for certain Reporting Entity’s requirements. The compliance date for those requirements was delayed to allow for the development of and transition to the System’s central data repository. This document provides the compliance date for the Reporting Entity requirements. DATES: The compliance date for the Reporting Entity requirements under § 621.15(b)(1) through (6), published December 24, 2013, at 78 FR 77557, effective February 21, 2014, is October 22, 2014. FOR FURTHER INFORMATION CONTACT: Susan T. 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, Virginia 22102–5090, (703) 883–4020, TTY (703) 883–4056. SUPPLEMENTARY INFORMATION: We issued a final rule on December 24, 2013, to establish a regulatory framework for the reporting of System accounts and exposures. The final rule established the reporting requirements and performance responsibilities, including, but not limited to, establishing uniform and standard data fields to be collected from all System banks and associations and a disciplined and secure delivery of information. The final rule authorized a Reporting Entity (defined as the Federal Farm Credit Banks Funding Corporation (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 required all banks and associations to provide data tkelley on DSK3SPTVN1PROD with RULES SUMMARY: VerDate Sep<11>2014 15:49 Oct 21, 2014 Jkt 235001 to the Reporting Entity to facilitate the collection, enhancement, and reporting of data to FCA. The final rule required compliance as of the effective date, which was February 21, 2014, except for the Reporting Entity’s requirements under § 621.15(b)(1) through (6). The final rule specified that the compliance date would be delayed for the Reporting Entity’s requirements under § 621.15(b)(1) through (6) to allow for the development of and transition to the System’s central data repository. During the System’s data repository development phase, the banks and associations continued to prepare and submit the reports of accounts and exposures to FCA in accordance with the instructions prescribed by FCA under § 621.15(a) of the final rule. The Reporting Entity now has the ability to prepare and submit reliable, timely, complete and accurate reporting of accounts and exposures. Therefore, full compliance with all provisions of the final rule is required on October 22, 2014 for accounts and exposures data as of the quarterly period ended September 30, 2014. Dated: October 16, 2014. Dale L. Aultman, Secretary, Farm Credit Administration Board. [FR Doc. 2014–25005 Filed 10–21–14; 8:45 am] BILLING CODE 6705–01–P FARM CREDIT ADMINISTRATION 12 CFR Chapter VI Farm Credit Administration Board Policy Statements Farm Credit Administration. Notice of policy statements and AGENCY: ACTION: index. The Farm Credit Administration (FCA), as part of its annual public notification process, is publishing for notice an index of the 18 Board policy statements currently in existence. Most of the policy statements remain unchanged since our last Federal Register notice on October 24, 2013 (78 FR 63380), except for one with minor updates on Equal Employment Opportunity and Diversity. DATES: October 22, 2014. FOR FURTHER INFORMATION CONTACT: Dale L. Aultman, Secretary to Board, Farm Credit Administration, 1501 Farm Credit Drive, McLean Virginia 22102– 5090, (703) 883–4009, TTY (703) 883– 4056; or Wendy R. Laguarda, Assistant General Counsel, Office of General Counsel, Farm Credit Administration, 1501 Farm Credit Drive, McLean SUMMARY: PO 00000 Frm 00003 Fmt 4700 Sfmt 9990 63033 Virginia 22102–5090, (703) 883–4020, TTY (703) 883–4020. SUPPLEMENTARY INFORMATION: A list of the 18 FCA Board policy statements is set forth below. FCA Board policy statements may be viewed online at www.fca.gov/handbook.nsf. On August 20, 2014, the FCA Board reaffirmed, and made minor updates only, to FCA–PS–62 on, ‘‘Equal Employment Opportunity and Diversity.’’ The changes were grammatical in nature. The policy was published in the Federal Register on August 26, 2014 (79 FR 50908). 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 and 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 Institutions FCA–PS–79 Consideration and Referral of Supervisory Strategies and Enforcement Actions FCA–PS–80 Cooperative Operating Philosophy—Serving the Members of Farm Credit System Institutions FCA–PS–81 Ethics, Independence, Arm’s-Length Role, Ex Parte Communications and Open Government Dated: October 16, 2014. Dale L. Aultman, Secretary, Farm Credit Administration Board. [FR Doc. 2014–25131 Filed 10–21–14; 8:45 am] BILLING CODE 6705–01–P E:\FR\FM\22OCR1.SGM 22OCR1

Agencies

[Federal Register Volume 79, Number 204 (Wednesday, October 22, 2014)]
[Rules and Regulations]
[Page 63033]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-25005]



[[Page 63033]]

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FARM CREDIT ADMINISTRATION

12 CFR Part 621

RIN 3052-AC75


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

AGENCY: Farm Credit Administration.

ACTION: Final rule; notice of compliance date.

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SUMMARY: The Farm Credit Administration (FCA, we, or our) issued a 
final rule on December 24, 2013, to establish a regulatory framework 
for Farm Credit System (System) banks and associations to report their 
accounts and exposures to the FCA. The final rule required compliance 
as of the effective date, which was February 21, 2014, except for 
certain Reporting Entity's requirements. The compliance date for those 
requirements was delayed to allow for the development of and transition 
to the System's central data repository. This document provides the 
compliance date for the Reporting Entity requirements.

DATES: The compliance date for the Reporting Entity requirements under 
Sec.  621.15(b)(1) through (6), published December 24, 2013, at 78 FR 
77557, effective February 21, 2014, is October 22, 2014.

FOR FURTHER INFORMATION CONTACT: 
Susan T. 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, Virginia 22102-5090, (703) 883-4020, TTY (703) 
883-4056.

SUPPLEMENTARY INFORMATION: We issued a final rule on December 24, 2013, 
to establish a regulatory framework for the reporting of System 
accounts and exposures. The final rule established the reporting 
requirements and performance responsibilities, including, but not 
limited to, establishing uniform and standard data fields to be 
collected from all System banks and associations and a disciplined and 
secure delivery of information. The final rule authorized a Reporting 
Entity (defined as the Federal Farm Credit Banks Funding Corporation 
(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 required all banks and 
associations to provide data to the Reporting Entity to facilitate the 
collection, enhancement, and reporting of data to FCA.
    The final rule required compliance as of the effective date, which 
was February 21, 2014, except for the Reporting Entity's requirements 
under Sec.  621.15(b)(1) through (6). The final rule specified that the 
compliance date would be delayed for the Reporting Entity's 
requirements under Sec.  621.15(b)(1) through (6) to allow for the 
development of and transition to the System's central data repository.
    During the System's data repository development phase, the banks 
and associations continued to prepare and submit the reports of 
accounts and exposures to FCA in accordance with the instructions 
prescribed by FCA under Sec.  621.15(a) of the final rule. The 
Reporting Entity now has the ability to prepare and submit reliable, 
timely, complete and accurate reporting of accounts and exposures. 
Therefore, full compliance with all provisions of the final rule is 
required on October 22, 2014 for accounts and exposures data as of the 
quarterly period ended September 30, 2014.

    Dated: October 16, 2014.
Dale L. Aultman,
Secretary, Farm Credit Administration Board.
[FR Doc. 2014-25005 Filed 10-21-14; 8:45 am]
BILLING CODE 6705-01-P
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