Organization; Disclosure to Shareholders; FCS Board Compensation Limits; Effective Date

[Federal Register Volume 64, Number 91 (Wednesday, May 12, 1999)]
[Rules and Regulations]
[Page 25423]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11896]


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FARM CREDIT ADMINISTRATION

12 CFR Parts 611 and 620

RIN 3052-AB79


Organization; Disclosure to Shareholders; FCS Board Compensation 
Limits; Effective Date

AGENCY: Farm Credit Administration.

ACTION: Notice of effective date.

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SUMMARY: The Farm Credit Administration (FCA) published a final rule 
under parts 611 and 620 on April 6, 1999 (64 FR 16617). The final rule 
amends the regulations Farm Credit System (FCS) bank director 
compensation. The amendment removes the requirement for FCS banks to 
obtain our prior approval before paying their directors more than the 
generally applicable limit. 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 May 11, 1999.

EFFECTIVE DATE: The regulation amending 12 CFR parts 611 and 620 
published on April 6, 1999 (64 FR 16617) is effective May 11, 1999.

FOR FURTHER INFORMATION CONTACT:

Alan Markowitz, Senior Policy Analyst, Office of Policy and Analysis, 
Farm Credit Administration, McLean, VA 22102-5090, (703) 883-4479;
    or
Rebecca S. Orlich, Senior Attorney, Office of General Counsel, Farm 
Credit Administration, McLean, VA 22102-5090, (703) 883-4020, TDD (703) 
883-4444.

(12 U.S.C. 2252(a)(9) and (10))

    Dated: May 6, 1999.
Vivian L. Portis,
Secretary, Farm Credit Administration Board.
[FR Doc. 99-11896 Filed 5-11-99; 8:45 am]
BILLING CODE 6705-01-P