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[Federal Register Volume 90, Number 29 (Thursday, February 13, 2025)]
[Proposed Rules]
[Page 9520]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-31573]

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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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Federal Register / Vol. 90, No. 29 / Thursday, February 13, 2025 / 
Proposed Rules

[[Page 9520]]

FARM CREDIT ADMINISTRATION

12 CFR Parts 620 and 630

RIN 3052-AD56

Internal Control Over Financial Reporting

AGENCY: Farm Credit Administration.

ACTION: Proposed rule; reopening of comment period.

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SUMMARY: The Farm Credit Administration (FCA or we) extends the comment 
period on its proposed rule that would revise FCA regulations to 
require certain Farm Credit System institutions to obtain integrated 
audits under certain conditions. FCA is reopening the comment period.

DATES: The comment period for the proposed rule published on November 
29, 2024 (89 FR 94615), is reopened. Comments are due Monday, March 31, 
2025.

ADDRESSES: For accuracy and efficiency, please submit comments by email 
or through FCA's website. We do not accept comments submitted by fax 
because faxes are difficult to process. Also, please do not submit 
comments multiple times; submit your comment only once, using one of 
the following methods:
     Send an email to [email protected].
     Use the public comment form on our website:
    1. Go to https://www.fca.gov.
    2. Click inside the ``I want to . . .'' field near the top of the 
page.
    3. Select ``comment on a pending regulation'' from the dropdown 
menu.
    4. Click ``Go.'' This takes you to the comment form.
     Send the comment by mail to the following: Autumn R. 
Agans, Deputy Director, Office of Regulatory Policy, Farm Credit 
Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090
    We post all comments on the FCA website. We will show your comments 
as submitted, including any supporting information; however, for 
technical reasons, we may omit items such as logos and special 
characters. Personal information that you provide, such as phone 
numbers and addresses, will be publicly available. However, we will 
attempt to remove email addresses to help reduce internet spam.
    To review comments on our website, go to https://www.fca.gov and 
follow these steps:
    1. Click inside the ``I want to . . .'' field near the top of the 
page.
    2. Select ``find comments on a pending regulation'' from the 
dropdown menu.
    3. Click ``Go.'' This will take you to a list of regulatory 
projects.
    4. Select the project in which you're interested. If we have 
received comments on that project, you will see a list of links to the 
individual comments.
    You may also review comments at the FCA office in McLean, Virginia. 
Please call us at (703) 883-4056 or email us at [email protected] to 
make an appointment.

FOR FURTHER INFORMATION CONTACT: 
    Technical information: Aaron M. Livernois, Senior Policy 
Accountant, Office of Regulatory Policy, Farm Credit Administration, 
McLean, VA 22102-5090, (703) 883-4414, TTY (703) 883-4056.
    Legal information: Andra Grossman, Attorney Advisor, Office of 
General Counsel, Farm Credit Administration, McLean, VA 22102-5090, 
(703) 883-4323, TTY (703) 883-4056.

SUPPLEMENTARY INFORMATION: On November 29, 2024, FCA published a 
proposed rule in the Federal Register that would amend FCA regulations 
12 CFR 620.3 and 630.5.\1\ The proposed amendments would require all 
Farm Credit System (System) banks to obtain an audit of their Internal 
Control Over Financial Reporting (ICFR) that would be integrated with 
the audit of their financial statements (integrated audit). The 
proposed amendments would also require System associations to obtain an 
integrated audit under certain conditions.
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    \1\ 89 FR 94615 (November 29, 2024).
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    The comment period expired on January 28, 2025. The Farm Credit 
Council, on behalf of Farm Credit institutions, requested more time for 
comments and specifically asked for an additional 60 days. In response 
to this request, FCA reopens the comment period until March 31, 2025, 
so interested parties will have additional time to provide comments on 
the proposed rule.

(Authority: Secs. 4.3, 4.3A, 4.19, 5.9, 5.17, 5.19 of the Farm 
Credit Act (12 U.S.C. 2154, 2154a, 2207, 2243, 2252, 2254); sec. 
424, Pub. L. 100-233, 101 Stat. 1568, 1656 (12 U.S.C. 2252 note); 
sec. 514, Pub. L. 102-552, 106 Stat. 4102, 4134.)

    Dated: December 30, 2024.
Ashley Waldron,
Secretary to the Board, Farm Credit Administration.
[FR Doc. 2024-31573 Filed 2-12-25; 8:45 am]
BILLING CODE 6705-01-P
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