Policy Statement Concerning Adjustments to the Insurance Premiums and Policy Statement on the Secure Base Amount and Allocated Insurance Reserves Accounts

Resumo

The Farm Credit System Insurance Corporation (Corporation or FCSIC) announces that it has given final approval to a new Policy Statement Concerning Adjustments to the Insurance Premiums and a new Policy Statement on the Secure Base Amount and Allocated Insurance Reserves Accounts (AIRAs). These two policy statements, which were earlier published with a request for comments, reflect amendments to the Farm Credit Act of 1971 made by the Food, Conservation, and Energy Act of 2008, and other changed conditions. The policy statement concerning premiums maintains the Corporation's semiannual review process as a basis for the Corporation's exercise of its discretion to adjust premiums in response to changing conditions. The policy statement concerning the secure base amount and AIRAs maintains the Corporation's general approach to questions concerning the computation of the secure base amount and allocation and payment of Allocated Insurance Reserves Accounts, with modifications to reflect the legislation and the Corporation's recent AIRAs payments.