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).

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).

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