Organization and Functions; Privacy Act Regulations; Organization; Loan Policies and Operations; Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; General Provisions; Definitions; Correction

FARM CREDIT ADMINISTRATION

12 CFR Parts 614 and 618

RIN 3052-AB61

Organization and Functions; Privacy Act Regulations;

Organization; Loan Policies and Operations; Funding and Fiscal Affairs,

Loan Policies and Operations, and Funding Operations; General

Provisions; Definitions; Correction

AGENCY: Farm Credit Administration.

ACTION: Correcting amendments.

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SUMMARY: The Farm Credit Administration (FCA) published an interim rule

(62 FR 67181, December 20, 1996) that amended the regulations to

eliminate unnecessary, outdated, duplicative, or burdensome regulatory

requirements, to replace outdated regulatory language with more current

terminology, and to clarify the intended meaning of certain regulatory

provisions. This document corrects nonsubstantive errors in the interim

rule.

EFFECTIVE DATE: March 4, 1997.

FOR FURTHER INFORMATION CONTACT: Cindy R. Nicholson, Paralegal

Specialist, Office of Policy Development and Risk Control, Farm Credit

Administration, McLean, VA 22102-5090, 703) 883-4498, TDD (703) 883-

4444.

SUPPLEMENTARY INFORMATION: In identifying commenters on the interim

rule, the FCA inadvertently failed to note receipt of a comment letter

provided by the Farm Credit Council (FCC) during the public comment

period.

List of Subjects

12 CFR Part 614

Agriculture, Banks, banking, Foreign trade, Reporting and

recordkeeping requirements, Rural areas.

12 CFR Part 618

Agriculture, Archives and records, Banks, banking, Insurance,

Reporting and recordkeeping requirements, Rural areas, Technical

assistance.

Accordingly, 12 CFR parts 614 and 618 are corrected by making the

following correcting amendments:

PART 614--LOAN POLICIES AND OPERATIONS

1. The authority citation for part 614 continues to read as

follows:

Authority: 42 U.S.C. 4012a, 4014a, 4104b, 4106, and 4128; secs.

1.3, 1.5, 1.6, 1.7, 1.9, 1.10, 2.0, 2.2, 2.3, 2.4, 2.10, 2.12, 2.13,

2.15, 3.0, 3.1, 3.3, 3.7, 3.8, 3.10, 3.20, 3.28, 4.12, 4.12A, 4.13,

4.13B, 4.14, 4.14A, 4.14C, 4.14D, 4.14E, 4.18, 4.19, 4.36, 4.37,

5.9, 5.10, 5.17, 7.0, 7.2, 7.6, 7.7, 7.8, 7.12, 7.13, 8.0, 8.5 of

the Farm Credit Act (12 U.S.C. 2011, 2013, 2014, 2015, 2017, 2018,

2019, 2071, 2073, 2074, 2075, 2091, 2093, 2094, 2096, 2121, 2122,

2124, 2128, 2129, 2131, 2141, 2149, 2183, 2184, 2199, 2201, 2202,

2202a, 2202c, 2202d, 2202e, 2206, 2206a, 2207, 2219a, 2219b, 2243,

2244, 2252, 2279a, 2279a-2, 2279b, 2279b-1, 2279b-2, 2279f, 2279f-1,

2279aa, 2279aa-5); sec. 413 of Pub. L. 100-233, 101 Stat. 1568,

1639.

Subpart N--Loan Servicing Requirements; State Agricultural Loan

Mediation Programs; Right of First Refusal

Sec. 614.4516 [Corrected]

2.The introductory text of Sec. 614.4516 is amended by adding the

words ``in accordance'' immediately after the word ``accomplished''.

PART 618--GENERAL PROVISIONS

3. The authority citation for part 618 continues to read as

follows:

Authority: Secs. 1.5, 1.11, 1.12, 2.2, 2.4, 2.5, 2.12, 3.1, 3.7,

4.12, 4.13A, 4.25, 4.29, 5.9, 5.10, 5.17 of the Farm Credit Act (12

U.S.C. 2013, 2019, 2020, 2073, 2075, 2076, 2093, 2122, 2128, 2183,

2200, 2211, 2218, 2243, 2244, 2252).

Subpart G--Releasing Information

Sec. 618.8320 [Corrected]

4. Paragraph (b)(5) of Sec. 618.8320 is revised to read as follows.

* * * * *

(b) * * *

(5) Impersonal information based solely on transactions or

experience with a borrower, such as amounts of loans, terms, and

payment records, may be given by a bank or association to any reliable

organization for its confidential use in contemplation of the extension

of credit or to a consumer reporting agency.

* * * * *

Dated: May 6, 1997.

Floyd Fithian,

Secretary, Farm Credit Administration Board.

[FR Doc. 97-12347 Filed 5-9-97; 8:45 am]

BILLING CODE 6705-01-P