Title 12

PART 615

Part 615 - Funding And Fiscal Affairs, Loan Policies And Operations, And Funding Operations

PART 615 - FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS Authority:Secs. 1.5, 1.7, 1.10, 1.11, 1.12, 2.2, 2.3, 2.4, 2.5, 2.12, 3.1, 3.7, 3.11, 3.25, 4.3, 4.3A, 4.9, 4.14B, 4.25, 5.9, 5.17, 6.20, 6.26, 8.0, 8.3, 8.4, 8.6, 8.8, 8.10, 8.12 of the Farm Credit Act (12 U.S.C. 2013, 2015, 2018, 2019, 2020, 2073, 2074, 2075, 2076, 2093, 2122, 2128, 2132, 2146, 2154, 2154a, 2160, 2202b, 2211, 2243, 2252, 2278b, 2278b-6, 2279aa, 2279aa-3, 2279aa-4, 2279aa-6, 2279aa-8, 2279aa-10, 2279aa-12); sec. 301(a), Pub. L. 100-233, 101 Stat. 1568, 1608; sec. 939A, Pub. L. 111-203, 124 Stat. 1326, 1887 (15 U.S.C. 78o-7 note).

12:7.0.1.2.16.1SUBPART A
Subpart A - Funding
12:7.0.1.2.16.1.1.1SECTION 615.5000
   615.5000 General responsibilities.
12:7.0.1.2.16.1.1.2SECTION 615.5010
   615.5010 Funding Corporation.
12:7.0.1.2.16.1.1.3SECTION 615.5030
   615.5030 Borrowings from commercial banks.
12:7.0.1.2.16.1.1.4SECTION 615.5040
   615.5040 Borrowings from financial institutions other than commercial banks.
12:7.0.1.2.16.2SUBPART B
Subpart B - Collateral
12:7.0.1.2.16.2.1.1SECTION 615.5045
   615.5045 Definitions.
12:7.0.1.2.16.2.1.2SECTION 615.5050
   615.5050 Collateral requirements.
12:7.0.1.2.16.2.1.3SECTION 615.5060
   615.5060 Special collateral requirement.
12:7.0.1.2.16.2.1.4SECTION 615.5090
   615.5090 Reduction in carrying value of collateral.
12:7.0.1.2.16.3SUBPART C
Subpart C - Issuance of Bonds, Notes, Debentures and Similar Obligations
12:7.0.1.2.16.3.1.1SECTION 615.5100
   615.5100 Authority to issue.
12:7.0.1.2.16.3.1.2SECTION 615.5101
   615.5101 Requirements for issuance.
12:7.0.1.2.16.3.1.3SECTION 615.5102
   615.5102 Issuance of debt obligations through the Funding Corporation.
12:7.0.1.2.16.3.1.4SECTION 615.5103-615.5104
   615.5103-615.5104 [Reserved]
12:7.0.1.2.16.3.1.5SECTION 615.5105
   615.5105 Consolidated Systemwide notes.
12:7.0.1.2.16.4SUBPART D
Subpart D - Other Funding
12:7.0.1.2.16.4.1.1SECTION 615.5110
   615.5110 Authority to issue (other funding).
12:7.0.1.2.16.4.1.2SECTION 615.5120
   615.5120 Purchase eligibility requirement.
12:7.0.1.2.16.4.1.3SECTION 615.5130
   615.5130 Procedures.
12:7.0.1.2.16.5SUBPART E
Subpart E - Investment Management
12:7.0.1.2.16.5.1.1SECTION 615.5131
   615.5131 Definitions.
12:7.0.1.2.16.5.1.2SECTION 615.5132
   615.5132 Investment purposes.
12:7.0.1.2.16.5.1.3SECTION 615.5133
   615.5133 Investment management.
12:7.0.1.2.16.5.1.4SECTION 615.5134
   615.5134 Liquidity reserve.
12:7.0.1.2.16.5.1.5SECTION 615.5136
   615.5136 Emergencies impeding normal access of Farm Credit banks to capital markets.
12:7.0.1.2.16.5.1.6SECTION 615.5140
   615.5140 Eligible investments.
12:7.0.1.2.16.5.1.7SECTION 615.5142
   615.5142 [Reserved]
12:7.0.1.2.16.5.1.8SECTION 615.5143
   615.5143 Management of ineligible investments and reservation of authority to require divestiture.
12:7.0.1.2.16.5.1.9SECTION 615.5144
   615.5144 Banks for cooperatives and agricultural credit banks.
12:7.0.1.2.16.6SUBPART F
Subpart F - Property, Transfers of Capital, and Other Investments
12:7.0.1.2.16.6.1.1SECTION 615.5170
   615.5170 Real and personal property.
12:7.0.1.2.16.6.1.2SECTION 615.5171
   615.5171 Transfer of capital from banks to associations.
12:7.0.1.2.16.6.1.3SECTION 615.5172
   615.5172 Production credit association and agricultural credit association investment in farmers' notes given to cooperatives and dealers.
12:7.0.1.2.16.6.1.4SECTION 615.5173
   615.5173 Stock of the Federal Agricultural Mortgage Corporation.
12:7.0.1.2.16.6.1.5SECTION 615.5174
   615.5174 Farmer Mac securities.
12:7.0.1.2.16.6.1.6SECTION 615.5175
   615.5175 Investments in Farm Credit System institution preferred stock.
12:7.0.1.2.16.7SUBPART G
Subpart G - Risk Assessment and Management
12:7.0.1.2.16.7.1.1SECTION 615.5180
   615.5180 Bank interest rate risk management program.
12:7.0.1.2.16.7.1.2SECTION 615.5182
   615.5182 Interest rate risk management by associations and other Farm Credit System institutions other than banks.
12:7.0.1.2.16.8SUBPART H
Subpart H - Capital Adequacy
12:7.0.1.2.16.8.1.1SECTION 615.5200
   615.5200 Capital planning.
12:7.0.1.2.16.8.1.2SECTION 615.5201
   615.5201 Definitions.
12:7.0.1.2.16.8.1.3SECTION 615.5205
   615.5205 Minimum permanent capital standards.
12:7.0.1.2.16.8.1.4SECTION 615.5206
   615.5206 Permanent capital ratio computation.
12:7.0.1.2.16.8.1.5SECTION 615.5207
   615.5207 Capital adjustments and associated reductions to assets.
12:7.0.1.2.16.8.1.6SECTION 615.5208
   615.5208 Allotment of allocated investments.
12:7.0.1.2.16.8.1.7SECTION 615.5209-615.5212
   615.5209-615.5212 [Reserved]
12:7.0.1.2.16.8.1.8SECTION 615.5215
   615.5215 Distribution of earnings.
12:7.0.1.2.16.8.1.9SECTION 615.5216
   615.5216 [Reserved]
12:7.0.1.2.16.9SUBPART I
Subpart I - Issuance of Equities
12:7.0.1.2.16.9.1.1SECTION 615.5220
   615.5220 Capitalization bylaws.
12:7.0.1.2.16.9.1.2SECTION 615.5230
   615.5230 Implementation of cooperative principles.
12:7.0.1.2.16.9.1.3SECTION 615.5240
   615.5240 Regulatory capital requirements.
12:7.0.1.2.16.9.1.4SECTION 615.5245
   615.5245 Limitations on association preferred stock.
12:7.0.1.2.16.9.1.5SECTION 615.5250
   615.5250 Disclosure requirements for sales of borrower stock.
12:7.0.1.2.16.9.1.6SECTION 615.5255
   615.5255 Disclosure and review requirements for sales of other equities.
12:7.0.1.2.16.10SUBPART J
Subpart J - Retirement of Equities and Payment of Dividends
12:7.0.1.2.16.10.1.1SECTION 615.5260
   615.5260 Retirement of eligible borrower stock.
12:7.0.1.2.16.10.1.2SECTION 615.5270
   615.5270 Retirement of other equities.
12:7.0.1.2.16.10.1.3SECTION 615.5280
   615.5280 Retirement in event of default.
12:7.0.1.2.16.10.1.4SECTION 615.5290
   615.5290 Retirement of capital stock and participation certificates in event of restructuring.
12:7.0.1.2.16.10.1.5SECTION 615.5295
   615.5295 Payment of dividends.
12:7.0.1.2.16.11SUBPART K
Subpart K [Reserved]
12:7.0.1.2.16.12SUBPART L
Subpart L - Establishment of Minimum Capital Ratios for an Individual Institution
12:7.0.1.2.16.12.1.1SECTION 615.5350
   615.5350 General - Applicability.
12:7.0.1.2.16.12.1.2SECTION 615.5351
   615.5351 Standards for determination of appropriate individual institution minimum capital ratios.
12:7.0.1.2.16.12.1.3SECTION 615.5352
   615.5352 Procedures.
12:7.0.1.2.16.12.1.4SECTION 615.5353
   615.5353 Relation to other actions.
12:7.0.1.2.16.12.1.5SECTION 615.5354
   615.5354 Enforcement.
12:7.0.1.2.16.13SUBPART M
Subpart M - Issuance of a Capital Directive
12:7.0.1.2.16.13.1.1SECTION 615.5355
   615.5355 Purpose and scope.
12:7.0.1.2.16.13.1.2SECTION 615.5356
   615.5356 Notice of intent to issue a capital directive.
12:7.0.1.2.16.13.1.3SECTION 615.5357
   615.5357 Response to notice.
12:7.0.1.2.16.13.1.4SECTION 615.5358
   615.5358 Decision.
12:7.0.1.2.16.13.1.5SECTION 615.5359
   615.5359 Issuance of a capital directive.
12:7.0.1.2.16.13.1.6SECTION 615.5360
   615.5360 Reconsideration based on change in circumstances.
12:7.0.1.2.16.13.1.7SECTION 615.5361
   615.5361 Relation to other administrative actions.
12:7.0.1.2.16.14SUBPART N
Subpart N [Reserved]
12:7.0.1.2.16.15SUBPART O
Subpart O - Book-Entry Procedures for Farm Credit Securities
12:7.0.1.2.16.15.1.1SECTION 615.5450
   615.5450 Definitions.
12:7.0.1.2.16.15.1.2SECTION 615.5451
   615.5451 Book-entry and definitive securities.
12:7.0.1.2.16.15.1.3SECTION 615.5452
   615.5452 Law governing rights and obligations of Federal Reserve Banks, Farm Credit banks, and Funding Corporation; rights of any person against Federal Reserve Banks, Farm Credit banks, and Funding Corporation.
12:7.0.1.2.16.15.1.4SECTION 615.5453
   615.5453 Law governing other interests.
12:7.0.1.2.16.15.1.5SECTION 615.5454
   615.5454 Creation of participant's security entitlement; security interests.
12:7.0.1.2.16.15.1.6SECTION 615.5455
   615.5455 Obligations of the Farm Credit banks and the Funding Corporation; no adverse claims.
12:7.0.1.2.16.15.1.7SECTION 615.5456
   615.5456 Authority of Federal Reserve Banks.
12:7.0.1.2.16.15.1.8SECTION 615.5457
   615.5457 Withdrawal of eligible book-entry securities for conversion to definitive form.
12:7.0.1.2.16.15.1.9SECTION 615.5458
   615.5458 Waiver of regulations.
12:7.0.1.2.16.15.1.10SECTION 615.5459
   615.5459 Liability of Farm Credit banks, Funding Corporation and Federal Reserve Banks.
12:7.0.1.2.16.15.1.11SECTION 615.5460
   615.5460 Additional provisions.
12:7.0.1.2.16.15.1.12SECTION 615.5461
   615.5461 Lost, stolen, destroyed, mutilated or defaced Farm Credit securities, including coupons.
12:7.0.1.2.16.15.1.13SECTION 615.5462
   615.5462 Restrictive endorsement of bearer securities.
12:7.0.1.2.16.16SUBPART P
Subpart P - Global Debt Securities
12:7.0.1.2.16.16.1.1SECTION 615.5500
   615.5500 Definitions.
12:7.0.1.2.16.16.1.2SECTION 615.5502
   615.5502 Issuance of global debt securities.
12:7.0.1.2.16.17SUBPART Q
Subpart Q - Bankers' Acceptances
12:7.0.1.2.16.17.1.1SECTION 615.5550
   615.5550 Bankers' acceptances.
12:7.0.1.2.16.18SUBPART R
Subpart R [Reserved]
12:7.0.1.2.16.19SUBPART S
Subpart S - Federal Agricultural Mortgage Corporation Securities
12:7.0.1.2.16.19.1.1SECTION 615.5570
   615.5570 Book-entry procedures for Federal Agricultural Mortgage Corporation Securities.