64728 Federal Register / Vol. 75, No. 202 / Wednesday, October 20, 2010 / Notices 

1See § 615.5230, ‘‘Implementation of cooperative 

principles.’’ 

2See FCA Policy Statement ‘‘Regulatory 

Philosophy’’ (FCA–PS–59), dated June 8, 2005. 

3Under FIRS, each institution is assigned 

composite and component ratings based on an 

evaluation of the adequacy of Capital, Assets, 

Management, Earnings, Liquidity, and Sensitivity to 

market risk (commonly referred to as ‘‘CAMELS’’). 

Composite and component ratings are assigned 

based on a 1 to 5 numerical scale, with 1 being the 

highest rating indicating the strongest level of 

performance and risk management practices and the 

least degree of supervisory concern. Within the 

Management component, FCA qualitatively rates 

the use of cooperative principles in the conduct of 

business activities. Please visit www.fca.gov for 

further information on FIRS. 

4The Preamble and section 1.1 of the Farm Credit 

Act of 1971, as amended (Act), Public Law 92–181, 

85 Stat. 583. 

5The Federal Farm Loan Act, Public Law 64–158, 

39 Stat. 360. 

6The cooperative structure of the System was 

viewed by Congress as providing greater safeguards 

than other structures under consideration at the 

time. 

7The International Co-operative Alliance (ICA), 

an independent, non-governmental association, has 

issued a statement on cooperative identity in which 

they espouse seven principles as guidelines for 

cooperatives to put their values into practice. Those 

seven principles are voluntary and open 

membership, democratic member control, member 

economic participation, autonomy and 

independence, training and information, 

cooperation among cooperatives, and concern for 

community. The principles can be found on the ICA 

Web site, http://www.ica.coop. 

8Under 4.3A of the Act, borrower-members of a 

System institution acquire voting stock at loan 

origination and hold allocated equities generated by 

patronage distributions from net earnings. 

Borrower-members’ voting stock and allocated 

equities are at-risk investments. 

the potential for building more capital at 

the bank level. After giving the public 

notice with the opportunity to comment 

and receiving no comments, the FCA 

Board has approved the draft Agreement 

in accordance with § 627.2750(h) of our 

regulations. The FCA’s approval of the 

draft Agreement is conditioned on the 

board of directors of each bank and the 

Funding Corporation approving the 

Agreement and the FCSIC providing an 

expression of non-objection to the 

Agreement. The Agreement cannot be 

modified or amended without our 

approval. 

Neither the Agreement (upon its 

effective date) nor our approval of it will 

in any way restrict or qualify the FCA’s 

authority to exercise our powers, rights, 

and duties as a regulator or, as stated 

above, to invoke joint and several 

liability provisions under the Act. 

Furthermore, the Agreement does not 

provide any grounds or basis for 

challenging the FCA’s or the FCSIC’s 

actions with respect to the creation or 

conduct of conservatorships or 

receiverships. Finally, the FCA retains 

the right to modify or revoke its 

approval of the Agreement at any time. 

Dated: October 14, 2010. 

Roland E. Smith, 

Secretary, Farm Credit Administration Board. 

[FR Doc. 2010–26434 Filed 10–19–10; 8:45 am] 

BILLING CODE 6705–01–P 

FARM CREDIT ADMINISTRATION 

[BM–14–OCT–10–02] 

Cooperative Operating Philosophy— 

Serving the Members of Farm Credit 

System Institutions 

AGENCY: Farm Credit Administration. 

ACTION: Policy statement. 

SUMMARY: The Farm Credit 

Administration (FCA) Board recently 

adopted a policy statement that 

reaffirms the FCA’s support of members’ 

participation in their Farm Credit 

System (System) institution and 

identifies three business practices for 

operating the cooperative with a focus 

on serving the members. Those practices 

are engaging members as owners, 

communicating with members, and 

providing value-added benefits to 

members. 

DATES: Effective Date: October 14, 2010. 

FOR FURTHER INFORMATION CONTACT: 

Deborah Wilson, Senior Accountant, 

Office of Regulatory Policy, Farm Credit 

Administration, McLean, VA 22102– 

5090, (703) 883–4498, TTY (703) 883– 

4434, or Laura McFarland, Senior 

Counsel, Office of General Counsel, 

Farm Credit Administration, McLean, 

VA 22102–5090, (703) 883–4020, TTY 

(703) 883–4020. 

SUPPLEMENTARY INFORMATION: The FCA 

Board adopted a policy statement 

reaffirming its support for the 

cooperative structure and operation of 

System institutions. The policy 

statement, in its entirety, follows: 

The FCA Board Hereby Adopts the 

Following Policy Statement: 

Cooperative Operating Philosophy— 

Serving the Member of Farm Credit 

System Institutions FCA–PS–80 [BM– 

14–OCT–10–02] 

Effective Date: 14–OCT–10. 

Effect on Previous Actions: None. 

Source of Authority: Preamble and 

section 1.1 of the Farm Credit Act of 

1971, as amended. 

Cooperative Commitment 

The Farm Credit Administration 

(FCA) is committed to the cooperative 

structure under which Farm Credit 

System (System) institutions are 

required to operate.1 The FCA 

emphasizes cooperative principles by 

advancing regulatory proposals that 

encourage farmer, rancher, and 

cooperative borrowers to participate in 

the management, control, and 

ownership of their institutions.2 The 

FCA also emphasizes cooperative 

principles in the examination function 

and Financial Institution Rating System 

(FIRS) used to categorize the safety and 

soundness of System institutions.3

The FCA supports cooperative values 

that encourage member participation in 

System institutions. Cooperatives are, 

by definition, entities with a ‘‘member 

focus.’’ They are owned and controlled 

by their members, and the members 

benefit from doing business with their 

cooperatives. Cooperative entities that 

focus on serving and fulfilling the needs 

of their members often realize greater 

participation in their institutions. While 

System institutions have strong 

reputations as effective cooperatives, 

they should build on this tradition 

through a cooperative business culture 

that goes beyond that required by statute 

and regulation. 

History 

The System is a Governmentsponsored enterprise of cooperative 

institutions owned and controlled by 

their member-borrowers.4 Prior to 

establishment of the System, a political 

consensus had been forming in Congress 

on a need for an improved system of 

credit delivery to agriculture. When 

Congress established the System in 

1916,5 it determined that the 

cooperative structure was the best 

model for furnishing sound, adequate 

and constructive credit and closely 

related services to rural areas.6

Subsequent Farm Credit legislation, 

including the Farm Credit Act of 1971, 

as amended, has reaffirmed the 

cooperative nature of the System. 

Policy on Implementing a Cooperative 

Operating Philosophy—Serving the 

Members 

The System, through its cooperative 

structure, makes competitive credit 

available to creditworthy farmers, 

ranchers, producers and harvesters of 

aquatic products, and their 

cooperatives. The FCA believes the 

following three core cooperative 

principles are the foundation of the 

System’s structure: 7

(1) The cooperative is owned by its 

members.8

(2) The cooperative is controlled by 

its members. 

(3) The members benefit from doing 

business with, and participating in, the 

management, control, and ownership of 

their institution. 

While business practices may change 

over time, these underlying cooperative 


emcdonald on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 202 / Wednesday, October 20, 2010 / Notices 64729 

9At a later date, the FCA will issue an 

Informational Memorandum to share its perspective 

on cooperative business practices that System 

institutions could use to reach out to their memberborrowers. 

principles have sufficient flexibility to 

ensure changes in best practices remain 

member focused. System institutions 

should apply cooperative business 

practices in a manner that best serves 

their members and meets their mission 

as Government–sponsored enterprises, 

while continuing to operate in a safe 

and sound manner, by 

(1) Engaging members as owners, 

(2) Communicating with members, 

and 

(3) Providing value-added benefits to 

members. 

Serving the Members of Farm Credit 

System Institutions 

Operating in a cooperative manner 

requires the boards of directors and 

management to engage, communicate, 

and provide value-added benefits to 

members. System institutions should 

proactively identify opportunities to 

reach out to member-borrowers beyond 

the lending and related services 

relationship.9

Many System institutions have been 

innovative and diligent in maintaining a 

cooperative philosophy in their 

business operations. The FCA 

encourages System institutions to 

continue and further their efforts to 

uphold a cooperative business culture. 

In addition, the FCA Board challenges 

the board and management of each 

System institution to periodically 

review and update their cooperative 

philosophies and practices and ensure 

that they maintain the focus to serve the 

members. 

Dated this 14th day of October 2010. 

By Order of the Board. 

Roland E. Smith, 

Secretary, Farm Credit Administration Board. 

[FR Doc. 2010–26433 Filed 10–19–10; 8:45 am] 

BILLING CODE 6705–01–P 

FEDERAL COMMUNICATIONS 

COMMISSION 

Notice of Public Information 

Collection(s) Being Reviewed by the 

Federal Communications Commission, 

Comments Requested 

October 12, 2010. 

SUMMARY: The Federal Communications 

Commission, as part of its continuing 

effort to reduce paperwork burden 

invites the general public and other 

Federal agencies to take this 

opportunity to comment on the 

following information collection(s), as 

required by the Paperwork Reduction 

Act (PRA) of 1995, 44 U.S.C. 3501–3520. 

Comments are requested concerning (a) 

whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

burden estimate; (c) ways to enhance 

the quality, utility, and clarity of the 

information collected; (d) ways to 

minimize the burden of the collection of 

information on the respondents, 

including the use of automated 

collection techniques or other forms of 

information technology, and (e) ways to 

further reduce the information 

collection burden on small business 

concerns with fewer than 25 employees. 

The FCC may not conduct or sponsor a 

collection of information unless it 

displays a currently valid control 

number. No person shall be subject to 

any penalty for failing to comply with 

a collection of information subject to the 

Paperwork Reduction Act (PRA) that 

does not display a valid OMB control 

number. 

DATES: Written Paperwork Reduction 

Act (PRA) comments should be 

submitted on or before December 20, 

2010. If you anticipate that you will be 

submitting comments, but find it 

difficult to do so within the period of 

time allowed by this notice, you should 

advise the contact listed below as soon 

as possible. 

ADDRESSES: Direct all PRA comments to 

Nicholas A. Fraser, Office of 

Management and Budget via fax at 202– 

395–5167 or via e-mail to 

Nicholas_A._Fraser@omb.eop.gov and 

to PRA@fcc.gov and 

Cathy.Williams@fcc.gov. Include in the 

e-mail the OMB control number of the 

collection. If you are unable to submit 

your comments by e-mail contact the 

person listed below to make alternate 

arrangements. 

FOR FURTHER INFORMATION CONTACT: For 

additional information about the 

information collection, send an e-mail 

to PRA@fcc.gov or contact Cathy 

Williams at 202–418–2918. 

SUPPLEMENTARY INFORMATION: 

OMB Control Numbers: 3060–0906. 

Title: 47 CFR Section 73.624(g), FCC 

Form 317. 

Form Numbers: 317. 

Type of Review: Revision of a 

currently approved collection. 

Respondents: Business or other for 

profit entities; Not for profit institutions; 

State, local or Tribal government. 

Number of Respondents/Responses: 

9,351 respondents; 18,702 responses. 

Estimated Hours per Response: 2–4 

hours. 

Frequency of Response: 

Recordkeeping requirement; Annual 

reporting requirement. 

Total Annual Burden: 56,106 hours. 

Total Annual Cost: $1,402,650. 

Obligation to Respond: Required to 

obtain or retain benefits. The statutory 

authority for this information collection 

is contained in Sections 154(i), 301, 303, 

336 and 403 of the Communications Act 

of 1934, as amended. 

Nature and Extent of Confidentiality: 

There is no need for confidentiality with 

this collection of information. 

Privacy Act Assessment: No impact(s). 

Needs and Uses: On September 30, 

2004, the Commission adopted the 

Report and Order, In the Matter of 

Amendments of Parts 73 and 74 of the 

Commission’s Rules to Establish Rules 

for Digital Low Power Television 

Translator, Television Booster Stations, 

and to Amend Rules for Digital Class A 

Television Stations, MB Docket No. 03– 

185, FCC 04–220 (released September 

30, 2004). In this Report and Order, the 

Commission establishes rules and 

policies for digital low power television 

(‘‘LPTV’’) and television translator (‘‘TV 

translator’’) stations and modifies certain 

rules applicable to digital Class A TV 

stations (‘‘Class A’’). The Commission 

addresses important issues such as: (1) 

The digital low power television 

transition; (2) channel assignments; (3) 

authorization of digital service; (4) 

permissible service; (5) mutually 

exclusive applications; (6) protected 

service area; and (7) equipment and 

other technical and operational 

requirements. Furthermore, the Report 

and Order adopts the following 

information collection requirement: 

47 CFR 73.624(g) adds a new group of 

respondents to this collection (namely, 

‘‘low power television, TV translator, 

and Class A television station DTV 

licensees’’). The Commission has also 

revised FCC Form 317 and its 

instructions to indicate that low power 

television, TV translator, and Class A 

television station DTV licensees are 

required to file FCC Form 317 and to 

report their ancillary and 

supplementary services, make the 

required payment to the Commission, 

and retain the appropriate records. 

OMB Control Numbers: 3060–0386. 

Title: Special Temporary 

Authorization (STA) Requests; 

Notifications; and Informal Filings; 

Sections 1.5, 73.1615, 73.1635, 73.1740, 

and 73.3598; CDBS Informal Forms; 

Section 73.788; FCC Form 337. 

Form Numbers: 337. 

Type of Review: Revision of a 

currently approved collection. 


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