Rolnictwo i finanse · 4.03.1998

Loan Policies and Operations; Loan Sales Relief; Effective

The Farm Credit Administration (FCA) published a direct final rule, with opportunity for comment, amending part 614 on December 2, 1997 (62 FR 63644). The final rule conforms the regulations to recent statutory amendments to the Farm Credit Act of 1971, as amended, (Act) made by sections 206 and 208 of the Farm Credit System Reform Act of 1996 (1996 Act). These amendments provide that loans designated by Farm Credit System institutions for sale into a secondary market are not subject to minimum stock purchase or borrower rights requirements. The opportunity for comment expired on January 2, 1998. The FCA received no comments and therefore, the final rule becomes effective without change. 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 March 4, 1998.