Title 12

PART 621

Part 621 - Accounting And Reporting Requirements

PART 621 - ACCOUNTING AND REPORTING REQUIREMENTS Authority:Secs. 4.12(b)(5), 4.14, 4.14A, 4.14D, 5.17, 5.22A, 8.11 of the Farm Credit Act (12 U.S.C. 2183, 2202, 2202a, 2202d, 2252, 2257a, 2279aa-11); sec. 514 of Pub. L. 102-552. Source:58 FR 48786, Sept. 20, 1993, unless otherwise noted.

• Authority: Secs. 4.12(b)(5), 4.14, 4.14A, 4.14D, 5.17, 5.22A, 8.11 of the Farm Credit Act (12 U.S.C. 2183, 2202, 2202a, 2202d, 2252, 2257a, 2279aa-11); sec. 514 of Pub. L. 102-552.
• Source: 58 FR 48786, Sept. 20, 1993, unless otherwise noted.

12:7.0.1.2.22.1	SUBPART A	Subpart A - Purpose and Definitions
12:7.0.1.2.22.1.1.1	SECTION 621.1	621.1 Purpose and applicability.
12:7.0.1.2.22.1.1.2	SECTION 621.2	621.2 Definitions.
12:7.0.1.2.22.2	SUBPART B	Subpart B - General Rules
12:7.0.1.2.22.2.1.1	SECTION 621.3	621.3 Application of generally accepted accounting principles.
12:7.0.1.2.22.2.1.2	SECTION 621.4	621.4 Audit by qualified public accountant.
12:7.0.1.2.22.2.1.3	SECTION 621.5	621.5 Accounting for the allowance for loan losses and chargeoffs.
12:7.0.1.2.22.3	SUBPART C	Subpart C - Loan Performance and Valuation Assessment
12:7.0.1.2.22.3.1.1	SECTION 621.6	621.6 Categorizing high-risk loans and other property owned.
12:7.0.1.2.22.3.1.2	SECTION 621.7	621.7 Rule of aggregation.
12:7.0.1.2.22.3.1.3	SECTION 621.8	621.8 Application of payments and income recognition on nonaccrual loans.
12:7.0.1.2.22.3.1.4	SECTION 621.9	621.9 Reinstatement to accrual status.
12:7.0.1.2.22.3.1.5	SECTION 621.10	621.10 Monitoring of performance categories and other property owned.
12:7.0.1.2.22.4	SUBPART D	Subpart D - -Reports of Condition and Performance and Accounts and Exposures
12:7.0.1.2.22.4.1.1	SECTION 621.12	621.12 Reports of condition and performance.
12:7.0.1.2.22.4.1.2	SECTION 621.13	621.13 Content and standards - general rules.
12:7.0.1.2.22.4.1.3	SECTION 621.14	621.14 Certification of correctness.
12:7.0.1.2.22.4.1.4	SECTION 621.15	621.15 Reports of accounts and exposures.
12:7.0.1.2.22.5	SUBPART E	Subpart E - Auditor Independence
12:7.0.1.2.22.5.1.1	SECTION 621.30	621.30 General.
12:7.0.1.2.22.5.1.2	SECTION 621.31	621.31 Non-audit services.
12:7.0.1.2.22.5.1.3	SECTION 621.32	621.32 Conflicts of interest and rotation.

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