Title 12 published on 2012-01-01
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2012-06-21; vol. 77 # 120 - Thursday, June 21, 2012 77 FR 37283 - General Provisions; Operating and Strategic Business Planning; Effective Date
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FARM CREDIT ADMINISTRATION Notice of effective date. Effective Date: Under the authority of 12 U.S.C. 2252, the regulation amending 12 CFR part 618 published on May 1, 2011 (77 FR 25577) is effective June 18, 2012. 12 CFR Part 618 Summary The Farm Credit Administration (FCA or Agency), through the FCA Board (Board), issued a final rule under part 618 on May 1, 2012 (77 FR 25577) amending our regulations to require the board of directors of each Farm Credit System institution to adopt an operational and strategic business plan to include, among other things, outreach toward diversity and inclusion. 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 June 18, 2012.
2012-05-01; vol. 77 # 84 - Tuesday, May 1, 2012 77 FR 25577 - General Provisions; Operating and Strategic Business Planning
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FARM CREDIT ADMINISTRATION Final rule. Effective Date: This regulation will be effective 30 days after publication in the Federal Register during which either or both Houses of Congress are in session. We will publish a notice of the effective date in the Federal Register . Compliance Date: System institutions must comply with this regulation no later than January 30, 2013. 12 CFR Part 618 Summary The Farm Credit Administration (FCA, we, or our) amends its regulation requiring the board of directors of each Farm Credit System (FCS or System) institution to adopt an operational and strategic business plan (business plan or plan) to include, among other things, outreach toward diversity and inclusion. Each business plan must contain a human capital plan that describes the institution's workforce and management and assesses their strengths and weaknesses; describes succession programs; and includes strategies and actions to strive for diversity and inclusion within the institution's workforce and management. In addition, the business plan of each direct lender institution must include a marketing plan that discusses how the institution will further the objective that the FCS be responsive to the credit needs of all eligible and creditworthy agricultural producers and other eligible persons, with specific outreach toward diversity and inclusion. Further, the regulation requires including skills and diversity as part of the required assessment of the needs of the board of directors and establishes annual reporting requirements to the board.
