Title 12, Banks and BankingRelease 119-110
§2275a Transition Rules Relating to Amendment of Certain Fca Approval Authorities
Title 12 › CHAPTER 23 — FARM CREDIT SYSTEM › SUBCHAPTER V — FARM CREDIT ADMINISTRATION ORGANIZATION › Part D — Miscellaneous › § 2275a
Summary
Approvals the Farm Credit Administration issued before January 6, 1988 remain in effect. Approval powers changed into rulemaking by the 1987 amendments can be used only until the FCA issues final rules or until one year after January 6, 1988, whichever comes first. After that year the FCA cannot enforce those changed provisions against System institutions until final rules. Other approval powers are unchanged.
Full Legal Text
Title 12, §2275a
Banks and Banking, Source: USLM XML via OLRC
(a)In general
Any approvals granted by the Farm Credit Administration before January 6, 1988, shall remain in effect on and after such date.
(b)Authority to issue regulations
(1)In general
Any approval authority of the Farm Credit Administration that, under the amendments made by section 802 of the Agricultural Credit Act of 1987, became an authority to issue regulations may be exercised only until the earlier of the date the Farm Credit Administration issues final regulations under such authority, or 1 year after January 6, 1988.
(2)Enforcement actions
At the close of the 1-year period referred to in paragraph (1), the Farm Credit Administration shall not take any enforcement action against any System institution with respect to any provision so amended, until the Farm Credit Administration issues final regulations under such provision.
(c)Effect of section
This section shall not affect the authority of the Farm Credit Administration to exercise any other approval authority either on a case-by-case basis or through regulation, as provided in section 2252(a)(5) of this title.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
The
Amendments
made by section 802 of the Agricultural Credit Act of 1987, referred to in subsec. (b)(1), are the
Amendments
made by section 802 of Pub. L. 100–233, title VIII, Jan. 6, 1988, 101 Stat. 1710, which enacted section 2275a of this title and amended sections 2011 to 2013, 2017, 2031, 2051, 2052, 2071 to 2073, 2077, 2091, 2121, 2122, 2124, 2126, 2130, 2132, 2212, 2213, 2223, and 2252 of this title. For complete classification of section 802 to the Code, see Tables.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2275a
Title 12, Banks and Banking
Last Updated
Sep 22, 2026
Release point: 119-110