# Loan Policies and Operations; Other Financing Institutions > Briefs, arguments, decisions, and more. URL: https://www.frixlaw.com/law-library/documents/fr%3A96-18132 ## Record - **Collection:** Federal Register - **Document type:** Proposed Rule - **Published:** July 17, 1996 - **Citation:** 61 FR 37229 ## Text [[Page 37230]] FARM CREDIT ADMINISTRATION 12 CFR Part 614 RIN 3052-AB67 Loan Policies and Operations; Other Financing Institutions AGENCY: Farm Credit Administration. ACTION: Advance notice of proposed rulemaking; comment period extension. ----------------------------------------------------------------------- SUMMARY: On May 17, 1996, the Farm Credit Administration (FCA) published for public comment an Advance Notice of Proposed Rulemaking (ANPRM) concerning potential revisions to the regulations in subpart P of part 614 that govern the funding and discount relationship between Farm Credit System (Farm Credit, FCS, or System) banks that operate under title I of the Farm Credit Act of 1971, as amended (Act), and non-System other financing institutions (OFIs). See 61 FR 24907, May 17, 1996. The comment period expired on July 16, 1996. In order to allow interested parties additional time to respond, the FCA extends the comment period until August 30, 1996, and invites public comment on the questions in the ANPRM. DATES: Written comments should be received on or before August 30, 1996. ADDRESSES: Comments may be mailed or delivered to Patricia W. DiMuzio, Associate Director, Regulation Development, Office of Examination, Farm Credit Administration, 1501 Farm Credit Drive, McLean, Virginia 22102- 5090 or sent by facsimile transmission to the FAX number at (703) 734- 5784. Copies of all communications received will be available for review by interested parties in the Office of Examination, Farm Credit Administration. FOR FURTHER INFORMATION CONTACT: Eric Howard, Policy Analyst, Regulation Development, Office of Examination, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4498, or Richard A. Katz, Senior Attorney, Regulatory Enforcement Division, Office of General Counsel, Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TDD (703) 883-4444. SUPPLEMENTARY INFORMATION: On May 17, 1996, the FCA published an ANPRM in the Federal Register that sought information and guidance from the public about how to revise regulations in subpart P of part 614 that govern the funding and discount relationship between System banks that operate under title I of the Farm Credit Act of 1971, as amended (Act), and non-System OFIs. Farm Credit Banks (FCBs) and agricultural credit banks (ACBs) are authorized to fund and discount certain short- and intermediate-term loans for non-System lenders, such as commercial banks, savings associations, credit unions, trust companies, agricultural credit corporations, and other agricultural and aquatic lenders as part of their mission to finance agriculture, aquaculture, and other specified rural credit needs. External developments, such as the consolidation of the commercial banking industry, the advent of interstate banking and branching, the gradual reduction of Federal assistance to agriculture and rural communities, and the increased interest of non-System financial institutions in additional sources of funding and liquidity may necessitate revisions to the regulations in subpart P of part 614 so that System banks can fulfill their obligation to meet demands in rural communities for short- and intermediate-term credit. The purpose of any future rulemaking would be to ensure that eligible and creditworthy farmers, ranchers, aquatic producers and harvesters, processing and marketing operators, farm-related businesses, and rural homeowners will continue to have access to affordable, dependable, and stable short- and intermediate-term credit through both System and non-System lenders. Specifically, the ANPRM sought comments regarding the FCA's OFI regulations and how they may be revised to better implement the statutory provisions. Several interested parties have advised the FCA that they need additional time to prepare thoughtful responses to the questions in the ANPRM. For this reason, the FCA hereby extends the comment period until August 30, 1996. Dated: July 11, 1996. Floyd Fithian, Secretary, Farm Credit Administration Board. [FR Doc. 96-18132 Filed 7-16-96; 8:45 am] BILLING CODE 6705-01-P --- Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/fr%3A96-18132. Public record. Not legal advice.