Statement of Policy on System Institution Activities Involving the Potential for Nonexclusive Territories; Extension of Comment Period

FARM CREDIT ADMINISTRATION

Statement of Policy on System Institution Activities Involving

the Potential for Nonexclusive Territories; Extension of Comment Period

AGENCY: Farm Credit Administration.

ACTION: Proposed statement of policy; comment period extension.

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SUMMARY: The Farm Credit Administration (FCA) Board published for

comment a proposed ``Statement of Policy on System Institution

Activities Involving the Potential for Nonexclusive Territories'' in

the Federal Register on April 13, 1994 (59 FR 17543). The comment

period is scheduled to expire on June 13, 1994. The FCA Board hereby

gives notice that the original comment period is extended to July 13,

1994.

DATES: The period for receipt of written comments is hereby extended to

July 13, 1994.

ADDRESSES: Comments should be mailed or delivered (in triplicate) to

Kenneth D. Smith, Executive Assistant to FCA Board Member Gary C.

Byrne, Farm Credit Administration, 1501 Farm Credit Drive, McLean,

Virginia 22102-5090. Copies of all comments received will be available

for examination by interested parties in the offices of the Farm Credit

Administration, 1501 Farm Credit Drive, McLean, Virginia.

FOR FURTHER INFORMATION CONTACT: Kenneth D. Smith, Executive Assistant

to FCA Board Member Gary C. Byrne, Farm Credit Administration, 1501

Farm Credit Drive, McLean, Virginia 22102-5090, (703) 883-4000, TDD

(703) 883-4444.

SUPPLEMENTARY INFORMATION: The 1971 Act authorizes the FCA to issue and

amend the charters of System institutions and regulate the exercise of

their powers. Included in this authority is the ability for the FCA to

issue or amend charters or promulgate regulations that would result in

increased competition among System institutions. The issue of

competition among System institutions arises, typically, in two types

of situations. First, charters could be issued authorizing two or more

System institutions to extend the same types of credit services to the

same types of customers in the same geographic territories; such

charters have typically been issued as a result of mergers or other

chartering actions requested by institutions. Second, institutions

could be authorized by regulation to engage in certain activities

outside of their chartered territories.

The FCA Board has determined that an extended comment period would

be beneficial in order to ensure that all interested parties have an

opportunity to comment on the proposed statement of policy on System

institution activities involving the potential for nonexclusive

territories.

Dated: June 7, 1994.

Curtis M. Anderson,

Secretary, Farm Credit Administration Board.

[FR Doc. 94-14202 Filed 6-9-94; 8:45 am]

BILLING CODE 6705-01-P