Title 12, Banks and BankingRelease 119-110

§2257a Uniform Financial Reporting Instructions

Title 12 › CHAPTER 23 — FARM CREDIT SYSTEM › SUBCHAPTER V — FARM CREDIT ADMINISTRATION ORGANIZATION › Part B — Farm Credit Administration Organization › § 2257a

Last updated Sep 22, 2026|Official source

Summary

Each Farm Credit System institution must follow the Farm Credit Administration’s uniform instructions for financial reports so the System’s data are reported the same way. If a bank keeps those reports on a computer, it can build its own system or hire an outside vendor, but any hired vendor must be chosen through open, competitive bidding. Within 6 months of January 6, 1988, every institution must submit to the Farm Credit Administration a report explaining its plan to meet those reporting instructions.

Full Legal Text

Title 12, §2257a

Banks and Banking, Source: USLM XML via OLRC

(a)In general

Each System institution shall comply with uniform financial reporting instructions required by the Farm Credit Administration, to standardize and facilitate the reporting of System data.

(b)Computerized system

If the financial reports are maintained by a computer system, each System institution may develop an internal computer system or it may contract out to a vendor under open competitive bidding any or all aspects of the computerized system.

(c)Submission of proposal

Within 6 months of January 6, 1988, each System institution shall submit to the Farm Credit Administration a report on the plan of that institution to bring the operations of the institution into compliance with the uniform financial reporting instructions required by the Farm Credit Administration.

Reference

Citations & Metadata

Citation

12 U.S.C. § 2257a

Title 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110