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FEDERAL RESERVE BANK OF NEW YORK Circular No. 10214 December 21, 1987 AMENDMENT TO REGULATION B Extemriom off Comment Period ©m Agricultural Loam Lo§§ Amortization To A ll State M em ber Banks in the Second F ed era l R eserve D istrict, and Others C oncerned: The B oard o f G overnors o f the Federal Reserve System has extended the period for com m ent, to Jan u ary 8, 1988, on an am endm ent to Regulation H th at permits State m em ber banks to am ortize losses on qualified agricultural loans. Printed on the reverse side o f this circular is the text o f the B o a rd ’s notice on this m atter. The B oard is allowing the extension even though its final rule on this m atter becam e effective N ovem ber 9, and am ortized loan inform ation will appear on Reports o f Condi tion beginning D ecem ber 31. The B oard is doing this in response to a number o f requests for additional time to prepare com m ents. Com m ents should be submitted by Jan u ary 8, 1988, and m ay be sent to the B o ard , as indicated in the notice, or to our Com pliance Exam inations D epartm ent. The com plete text o f the B o a rd ’s final rule, as published in the Federal Register o f N ovem ber 3, was sent to you with our C ircular N o. 10202, dated Novem ber 10, 1987; copies are available upon request directed to the Circulars Division o f this Bank (Tel. N o. 2 12-720-5215 or 5216). Questions regarding this m atter m ay be directed to our Com pliance Exam inations D epartm ent (Tel. N o. 212-720-8136). E . G e r a l d C o r r ig a n , President. (Over) (FEDERAL RESERVE SYSTEM n CFR Fart 20S [R@guSation H; Doetet Ete. R-0615] Agricultural L@ami Less Amortization; Ext@inisi©ini ®tf C@mm©nfi Period &©Efc3©Y: B o a rd o f G o v ern o rs of the F e d e r a l R e s e rv e S y stem . A€¥i©w; F in a l ru le w ith a p ro v isio n for p ub lic co m m e n t; e x te n sio n o f co m m en t p eriod . SUMMARY: T h e B o a rd is exte n d in g from D e ce m b e r 3 ,1 9 8 7 , to Ja n u a ry 8 ,1 9 8 8 , the p erio d fo r re c e ip t of p ub lic co m m en t on this ru le w h ich w a s p u b lish ed in the F e d e ra l R e g is te r a t 52 F R 4 2 0 8 7 (N o v e m b e r 3 ,1 9 8 7 ). T h e reg u latio n im p lem en ts T itle VIII o f th e C o m p etitiv e E q u ality B an k in g A c t o f 1 9 8 7 ( “C E B A ”) w h ich p erm its s ta te m em b er ag ricu ltu ral b a n k s to a m o rtiz e lo sse s on q ualified ag ricu ltu ra l lo a n s . T itle VIII o f C E B A re q u ires reg u latio n s im p lem en ting Title V III to b e issu ed n ot le s s th an 90 d a y s a fte r e n a ctm e n t, th at is, b y N o v e m b e r 9, 1987. T h e re fo re , the B o a rd p u b lish ed the ru le a s a fin al ru le e ffectiv e N o v em b er 9, 1987, fo r th e C all R ep o rt fo r D e ce m b e r 3 1 ,1 9 8 7 , b u t a llo w ed in te re ste d p a rties to co m m e n t through D e ce m b e r 3 ,1 9 8 7 . A fte r re c e iv in g se v e ra l re q u e sts fo r an e x te n sio n o f th e co m m en t p eriod , the B o a rd a c tin g through au th o rity d e le g a te d to its S e c r e ta r y (12 C FR 2 6 5 .2 (a )(4 )) h a s d e cid e d to e x te n d the clo sin g d a te to Ja n u a ry 8 ,1 9 8 8 . ©&TE: C o m m en ts m u st b e re c e iv e d by Ja n u a ry 8 ,1 9 8 8 . ABSCESSES: A ll c o m m e n ts sho uld refe r to D o ck e t N o. R -0 6 1 5 an d sho uld be m a ile d to W illia m W . W ile s, S e c re ta ry , B o a rd o f G o v ern o rs o f the F e d e ra l R e s e rv e S y stem , W a sh in g to n , DC 20551, o r d e liv e re d to R o o m B -2 2 2 3 , 20th S tre e t an d C o n stitu tio n A v e n u e , N W ., W a sh in g to n , D C, b e tw e e n 8:45 a.m . an d 5:15 p.m . w e e k d a y s. C o m m en ts m a y be in sp e cte d in R o o m B -1 1 2 2 b e tw e e n 8:45 a.m . a n d 5:15 p.m . w e e k d a y s. F©K FURTHER INFORMATION €©NT&CY: R h o g er H . Pugh, M a n a g e r (202) 7 2 8 -5 8 8 3 , S ta n le y B. R ed iger, S en io r F in a n cia l A n a ly s t (202) 4 5 2 -2 6 2 9 , D ivision of B an k in g S u p erv isio n an d R eg u latio n (202) 7 2 8 -5 8 8 3 ; H elen L ew is (202) 4 5 2 349 0 , E co n o m ist, F in a n cia l R e p o rts S e ctio n , D ivision o f R e s e a rc h an d S ta tis tic s ; o r John H a rr y Jo rg en so n , S en io r A tto rn e y (202) 4 5 2 -3 7 7 8 , L egal D ivision; B o a rd o f G o v e rn o rs o f the F e d e r a l R e s e rv e S y stem , W a sh in g to n , D C 2 0551. F o r the h e arin g im p aired O N L Y , T e le co m m u n ica tio n s D e v ice for the D eaf, E a rn e stin e H ill o r D o ro th e a T h o m p so n , (202) 4 5 2 -3 5 4 4 . By order of the Board of Governors of the Federal Reserve System, December 7,1987. William W. Wiles, S e c r e t a r y o f the B oard.
@FedFRASER