Pub. 6 2011-2012 Issue 5

January/February 2012 25 Extraordinary Service for Extraordinary Members. The EFT You can TRUST NetWorks is the Electronic Funds Transfer (EFT) service provider that Nebraskans have used and learned to trust like family for over 30 years. Our highly experienced staff is extremely knowledgeable and resourceful when it comes to assisting your institution. Give us a call to learn more about our services, you’ll have the opportunity to talk to someone who truly cares about and understands your EFT service needs. www.netseft.com Toll Free 800-735-6833 Local 402-434-8202 To contact Bert Ely, e-mail bert@ely-co.com ; fax (703) 836-1403; phone (703) 836-4101; or mail PO Box 320700, Alexandria, Va. 22320. $43,000, for a tax rate of .04 percent. As Congress searches for additional revenue to close the budget deficit, sub- jecting the FCS to the full corporate tax rate would bring in another $1 billion annually. For a complete list of ACA tax rates, go to www.aba.com/aba/ documents/ag/FCSABAACAtaxrates- firstninemonthsof2011.xls. FCA Proposes Transparency for FCS Compensation On Dec. 8, 2011, the board of the Farm Credit Administration (FCA) proposed “to amend regulations related to stockholder disclosures regarding senior officer compensation” for FCS “banks and associations to [provide to] their stockholders and investors.” No doubt this proposed rule has been warmly receivedby FCS executives. One of the most interesting provisions in the proposed rule, according to an FCA fact sheet, is disclosure of “the overall risk and reward structure for senior officer compensation plans and prac- tices, the relationship of senior officer compensation to the institution’s overall performance, and the relationship of the compensation to the senior officers’ performance.” These disclosures will make for interesting reading at FCS institutions experiencing problems. In the spirit of improving compensation disclosures, Farm Credit Watch (FCW) will resume its annual publication of the list of highest paid FCS CEOs. FCW’s annual compensation survey is widely read within the FCS. Best Wishes for the New Year FCWwishes all of its readers as well as their families, friends, associates, and customers the very best for the NewYear. 2012 promises to be another interesting year for banking, the FCS, and the FCA. Hopefully, Congress will boost FCS taxes to normal corporate tax rates. Report FCS Lending Abuses Bankers are continuing to send FCW reports of FCS lending abuses such as FCS loans for rural estates, weekend getaways, and hunting pre- serves. Email reports of similar lending abuses in your market to green-acres@ ely-co.com . Please provide as much detail as possible about any loan that violates the spirit, if not the law, gov- erning FCS lending. Farm Credit Watch Free to ABA Members If your bank belongs to the American Bankers Association (ABA), you can enjoy a free email subscription to FCW or you can read it monthly online at www.aba.com . To receive FCWby email or to manage your subscription, visit ABA Email Bulletins at www.aba.com/ members+only/bulletin.htmand check or uncheck the appropriate boxes. For other inquiries, please contact Barbara McCoy at the ABA at 1-800-BANKERS or bmccoy@aba.com . Z