Pub. 8 2013-2014 Issue 3

September | October 2013 23 Extraordinary Service for Extraordinary Members. FCA Proposes to Keep Data Outside FCA On Aug. 9, the Farm Credit Administration (FCA) issued a proposed rule to designate the Federal Farm Credit Banks Funding Corporation (FCS’ access to Wall Street) as the “central data repository manager” for data the FCA collects on FCS “institution accounts and [risk] exposures.” According to the proposed rule, the FCA will work with the FCS “to col- lect more comprehensive data submissions and enhance the reporting to facilitate the evaluation of changing lending risks and conditions.” This enhanced data will help the FCA “to quickly and accurately identify and respond to risk [through] the collection of data on, and identification of, shared assets,” such as loans participated within the FCS. This enhanced data collection initiative is a tacit admis- sion by the FCA that the FCS should be viewed as one large, integrated financial institution. However, the FCA appar- ently is concerned that outside parties may try to access this data through Freedom of Information Act (FOIA) requests, which is why it proposes to store this supervisory data at the Funding Corporation, which is exempt from the FOIA. However, should someone try to access this data, the Fund- ing Corporation is to immediately notify the FCA “in writing . . . if there is a request for data from the reports of accounts and [risk] exposures.” Ely to Speak at 2013 Ag Bankers Conference I am looking forward to speaking at this year’s ABA Na- tional Agricultural Bankers Conference, which will be held Nov. 10-13 at the Hyatt Regency in Minneapolis. I will be on a panel with Joe Witt, president of the Minnesota Bankers Association. We will be speaking, naturally, about the FCS. I look forward to seeing many FCW readers at the conference. You will find information and registration materials for the conference at www.aba.com/Training/Conferences/Pages/ AGR.aspx. Report FCS Lending Abuses Bankers are continuing to send FarmCreditWatch reports of FCS lending abuses such as FCS loans for rural estates, weekend getaways, and hunting preserves. 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, governing FCS lending.  To contact Bert Ely, email bert@ely-co.com , phone (703) 836-4101, fax (703) 836-1403, or send mail to P.O. Box 320700, Alexandria, Va. 22320. If your bank belongs to the American Bankers Association (ABA), you can enjoy a free email subscription to Farm Credit Watch or you can read it monthly online at www.aba.com. To receive FarmCredit Watch by email or to manage your subscription, visit ABA Email Bulletins at www.aba. com/Members/Ebulletins/Pages/default.aspx and check or uncheck the appropriate boxes. For other inquiries, please contact Barbara McCoy at the ABA at 1-800-BANKERS or bmccoy@aba.com . experience momentum BKD National Financial Services Group Are you moving with the current? The regulatory environment is always changing, and you can’t afford to tread water. BKD National Financial Services Group serves 1,200 financial institutions, and our advisors can assist with a wide variety of accounting, tax and consulting issues. Experience how our expertise can help you get ahead of the curve. 1200 cliEnTs lincoln // 402.473.7600 Omaha // 402.392.1040 bkd.com ATTENTIVE Nebraska banks are attentive to the needs of the communities they serve. We are here to give you the same attention. Bank Mergers and Acquisitions Succession Planning for Owners Commercial Litigation General Business Representation Regulatory Consultation and Compliance Loan Origination and Workout Loan Default Remedies and Bankruptcy Representation Real Estate Purchase, Sale and Leasing Lincoln Omaha Denver www.woodsaitken.com