`[Federal Register Volume 71, Number 182 (Wednesday, September 20, 2006)]
[Rules and Regulations]
[Pages 54899-54901]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-7951]


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FARM CREDIT ADMINISTRATION

12 CFR Parts 603, 605, 608, and 611

RIN 3052-AC34


Privacy Act Regulations; Information; Collection of Claims Owed 
the United States; Organization; Privacy and Security Information

AGENCY: Farm Credit Administration.

ACTION: Final rule.

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SUMMARY: The Farm Credit Administration (FCA or Agency) is issuing a 
final rule to update and amend its regulations regarding privacy and 
security information and other matters. This action is being taken to 
correct certain citations in the regulations and to conform the 
regulations to Executive order 13292.

EFFECTIVE DATE: This regulation will become effective 30 days after 
publication in the Federal Register during which either one or both 
houses of Congress are in session. We will

[[Page 54900]]

publish a notice of the effective date in the Federal Register.

FOR FURTHER INFORMATION CONTACT: Bob Taylor, Attorney, Office of 
General Counsel, Farm Credit Administration, McLean, VA 22102-5090, 
(703) 883-4129; TTY (703) 883-4020; or Mike Wilson, Policy Analyst, 
Office of Regulatory Policy, Farm Credit Administration, McLean, 
Virginia 22102-5090, (703) 883-4414, TTY (703) 883-4020.

SUPPLEMENTARY INFORMATION: We are amending our regulations to both 
correct citations in Agency regulations and update part 605 to conform 
to Executive order 13292. We have found incorrect regulatory citations 
in parts 603, 608, and 611 of our regulations, and are revising our 
regulations to include the correct citations. Part 605 of our 
regulations defines the procedures for acting in matters relating to 
national security information for classified documents and outlines the 
basic requirements for obtaining access to classified documents. We are 
revising the definitions of procedures for ``Derivative 
classification'' and ``Mandatory declassification review'' in part 605 
to make them consistent with Executive order 13292.
    In acting on this final regulation, the FCA Board determined that 
notice and public comment are neither required nor necessary under the 
Administrative Procedure Act, 5 U.S.C. 553(b). Section 553(b)(A) 
provides that the notice and comment requirements do not apply to rules 
of Agency organization, procedure, or practice, and as such, the 
amendments that relate to Agency procedure and practice do not require 
notice and public comment. In addition, 5 U.S.C. 553(b)(B) provides 
that notice and comment requirements do not apply when the Agency for 
good cause finds that notice and public comment are impracticable, 
unnecessary, or contrary to the public interest. Notice and public 
comment are unnecessary and contrary to the public interest in this 
case because the amendments involve only technical revisions to 
regulatory citations and an update to part 605 to conform to Executive 
order 13292. A comment period would only delay correction of inaccurate 
cites. Therefore, these regulations are published in final form.

Regulatory Flexibility Act

    Pursuant to section 605(b) of the Regulatory Flexibility Act (5 
U.S.C. 601 et seq.), the FCA hereby certifies that the final rule will 
not have a significant economic impact on a substantial number of small 
entities. Each of the banks in the Farm Credit System, considered 
together with its affiliated associations, has assets and annual income 
in excess of the amounts that would qualify them as small entities. 
Therefore, Farm Credit System institutions are not ``small entities'' 
as defined in the Regulatory Flexibility Act.

List of Subjects

12 CFR Part 603

    Privacy.

12 CFR Part 605

    Classified information.

12 CFR Part 608

    Claims, Government employees, Wages.

12 CFR Part 611

    Agriculture, Banks, banking, Rural areas.

0
As stated in the preamble, parts 603, 605, 608, and 611 of chapter VI, 
title 12 of the Code of Federal Regulations, are amended as follows:

PART 603--PRIVACY ACT REGULATIONS

0
1. The authority citation for part 603 continues to read as follows:

    Authority: Secs. 5.9, 5.17 of the Farm Credit Act (12 U.S.C. 
2243, 2252); 5 U.S.C. app. 3, 5 U.S.C. 552a (j)(2) and (k)(2).


Sec.  603.345  [Amended]

0
2. Amend Sec.  603.345 by removing the reference, ``Sec. Sec.  602.267 
and 602.269'' and adding in its place ``Sec. Sec.  602.11 and 602.12''.


Sec.  603.350  [Amended]

0
3. Amend Sec.  603.350 by removing the reference, ``Section 
552a(1)(3)'' the first place it appears and adding in its place 
``Section 522a(i)(3)''.

PART 605--INFORMATION

0
4. The authority citation for part 605 continues to read as follows:

    Authority: Secs. 5.9, 5.12, 5.17 of the Farm Credit Act (12 
U.S.C. 2243, 2246, 2252).


Sec.  605.500  [Amended]

0
5. Amend Sec.  605.500 by removing the reference, ``12356'' and adding 
in its place ``13292''.


Sec.  605.501  [Amended]

0
6. Amend Sec.  605.501(b) by removing the reference 
``2001.32(a)(2)(i)'' and adding in its place ``2001.33(a)(2)(i)''.

0
7. Amend Sec.  605.502 as follows:
0
a. Revise paragraphs (b) and (c);
0
b. Remove the words, ``located in the Agency Services Branch'' from the 
third sentence of paragraph (d);
0
c. Remove the reference, ``4.1(b)'' and add in its place ``4.2(g)'' in 
the first sentence of paragraph (e); and
0
d. Remove the reference, ``189'' in the first sentence and add in its 
place, ``312'' and in the second sentence, remove the reference, 
``12356'' and add in its place the reference ``13292'' in paragraph 
(i).


Sec.  605.502  Programs and procedures.

* * * * *
    (b) Derivative classification. ``Derivative classification'' means 
the incorporating, paraphrasing, restating or generating in new form 
information that is already classified, and marking the newly developed 
material consistent with the classification markings that apply to the 
source information. Derivative classification includes the 
classification of information based on classification guidance. The 
duplication or reproduction of existing classified information is not 
derivative classification.
    (c) Mandatory declassification review. ``Mandatory declassification 
review'' means the review for declassification of classified 
information in response to a request for declassification that meets 
the requirements under section 3.5 of the Executive order. All requests 
for review for declassification under the mandatory review provisions 
of the Executive order shall be handled by the Information Security 
Officer or his/her designee.
* * * * *

PART 608--COLLECTION OF CLAIMS OWED THE UNITED STATES

0
8. The authority citation for part 608 continues to read as follows:

    Authority: Sec. 5.17 of the Farm Credit Act (12 U.S.C. 2252); 31 
U.S.C. 3701-3719; 5 U.S.C. 5514; 4 CFR parts 101-105; 5 CFR part 
550.

Subpart A--Administrative Collection of Claims


Sec.  608.807  [Amended]

0
9. Amend Sec.  608.807 by removing the reference, ``Sec.  602.267'' and 
adding in its place, ``Sec. Sec.  602.11 and 602.12''.

PART 611--ORGANIZATION

0
10. The authority citation for part 611 continues to read as follows:

    Authority: Secs. 1.3, 1.4, 1.13, 2.0, 2.1, 2.10, 2.11, 3.0, 3.2, 
3.21, 4.12, 4.15, 4.20, 4.21, 5.9, 5.10, 5.17, 6.9, 6.26, 7.0-7.13, 
8.5(e) of the Farm Credit Act (12 U.S.C. 2011, 2013, 2021, 2071, 
2072, 2091, 2092, 2121, 2123,

[[Page 54901]]

2142, 2183, 2203, 2208, 2209, 2243, 2244, 2252, 2278a-9, 2278b-6, 
2279a-2279f-1, 2279aa-5(e)); secs. 411 and 412 of Pub. L. 100-233, 
101 Stat. 1568, 1638; secs. 409 and 414 of Pub. L. 100-399, 102 
Stat. 989, 1003, and 1004.

Subpart G--Mergers, Consolidations, and Charter Amendments of 
Associations


Sec.  611.1124  [Amended]

0
11. Amend Sec.  611.1124 by removing the reference, ``Sec.  611.1090 of 
this part'' and adding in its place, ``section 5.17(a) of the Act'' in 
paragraph (n).

    Dated: September 14, 2006.
Roland Smith,
Secretary, Farm Credit Administration Board.
[FR Doc. 06-7951 Filed 9-19-06; 8:45 am]
BILLING CODE 6705-01-P`