[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR630.3]



[Page 289-290]

 

                       TITLE 12--BANKS AND BANKING

 

                 CHAPTER VI--FARM CREDIT ADMINISTRATION

 

PART 630_DISCLOSURE TO INVESTORS IN SYSTEMWIDE AND CONSOLIDATED BANK 

DEBT OBLIGATIONS OF THE FARM CREDIT SYSTEM--Table of Contents

 

                            Subpart A_General

 

Sec. 630.3  Publishing and filing the report to investors.



    (a) The disclosure entities shall jointly publish the following 

reports in order to provide meaningful information pertaining to the 

financial condition and results of operations of the System to investors 

and potential investors in FCS debt obligations and other users of the 

report:

    (1) An annual report to investors within 90 days after the end of 

each fiscal year;

    (2) A quarterly report to investors within 60 days after the end of 

each quarter, except for the quarter that coincides with the end of the 

fiscal year.

    (b) Each report to investors shall present Systemwide combined 

financial statements and related footnotes deemed appropriate for the 

purpose of the report to provide investors with the most meaningful 

presentation pertaining to the financial condition and results of 

operations of the System.

    (c) All items of essentially the same character as items required to 

be reported in the reports of condition and performance pursuant to part 

621 of this chapter shall be prepared in accordance with the rules set 

forth in part 621 of this chapter.

    (d) Each report to investors shall contain the information required 

by subparts B and C of this part, as applicable, and such other 

information as is necessary to make the required statements, in light of 

the circumstances



[[Page 290]]



under which they are made, not misleading.

    (e) Information in any part of the report may be referenced or 

incorporated in answer or partial answer to any other item of the 

report. Information required by this part may be presented in any order 

deemed suitable by the Funding Corporation.

    (f) Information in documents prepared for investors in connection 

with the offering of debt securities issued through the Federal Farm 

Credit Banks Funding Corporation may be incorporated by reference in the 

annual and quarterly reports in answer or partial answer to any item 

required in the reports under this part. A complete description of any 

offering documents incorporated by reference must be clearly identified 

in the report (e.g., Federal Farm Credit Banks Consolidated Systemwide 

Bonds and Discount Notes--Offering Circular issued on [insert date]). 

Offering documents incorporated by reference in either an annual or 

quarterly report prepared under this part must be filed with the Chief 

Examiner, Farm Credit Administration, McLean, Virginia 22102-5090, 

either prior to or at the time of submission of the report under 

paragraph (h) of this section. Any offering document incorporated by 

reference is subject to the delivery and availability requirements set 

forth in Sec. 630.4(a) (5) and (6).

    (g) The report shall include a statement in a prominent location 

that Systemwide debt securities and consolidated bank debt obligations 

are joint and several liabilities of individual banks and that copies of 

each bank's recent periodic reports to shareholders are available upon 

request. The report shall also include addresses and telephone numbers 

where copies of the report to investors and the periodic reports of 

individual banks can be obtained. Copies of the report to investors 

shall be available for public inspection at the Funding Corporation.

    (h) Three complete copies of the report shall be filed with the 

Chief Examiner, Farm Credit Administration, McLean, Virginia 22102-5090, 

within the applicable period prescribed under paragraphs (a)(1) and 

(a)(2) of this section.

    (1) At least one copy of the report filed with the FCA shall be 

dated and manually signed by the following officers and director(s) of 

the Funding Corporation on its behalf:

    (i) The officer(s) designated by the board of directors to certify 

the report;

    (ii) The chief executive officer; and

    (iii) Each member of the board or, at a minimum, one of the 

following board members formally designated by action of the board to 

certify on behalf of individual board members: the chairperson of the 

board or a board member designated by the chairperson of the board.

    (2) The name and position title of each person signing the report 

shall be typed or printed beneath his or her signature. Signers of the 

report shall attest as follows:



    The undersigned certify that this report has been prepared in 

accordance with all applicable statutory or regulatory requirements and 

that the information contained herein is true, accurate, and complete to 

the best of his or her knowledge and belief.



[59 FR 46724, Sept. 12, 1994, as amended at 62 FR 15094, Mar. 31, 1997]