FR 2021-02354

The document under review announces an upcoming regular meeting of the Farm Credit Administration Board, affectionately known as the FCA Board. Scheduled for February 11, 2021, this meeting will be held virtually due to the ongoing COVID-19 pandemic. It will start at 9:00 a.m. and continue until all board business is concluded.

General Summary

The meeting notification, aligned with the Government in the Sunshine Act, indicates that parts of the meeting will be accessible to the public while others will remain confidential. Public attendance is facilitated through instructions available on the FCA's website, requiring interested individuals to register at least 24 hours in advance to observe the open session of the meeting. Explicitly mentioned is the approval of minutes from the previous meeting held on January 14, 2021, during the open session.

Significant Issues and Concerns

Several notable issues arise from the document:

• Lack of Details on the OSMO Periodic Report: Within the closed session, there is an agenda item referred to as the "OSMO Periodic Report." The document provides no elaboration on this, which may result in confusion or curiosity among those unfamiliar with the terminology or its implications.

• Exemption from Open Meetings: The closed portions of the meeting are justified by exemptions listed under 5 U.S.C. Section 552b(c)(8) and (9). However, the document does not specify what these exemptions entail, potentially leading to concerns about transparency.

• Formal Language: While the document uses formal language typical of official notices, it effectively communicates its primary message. Those familiar with such legal and governmental communications will follow it easily, but it may not be immediately clear to everyone, potentially necessitating further explanation for some readers.

Public Impact

For the general public, especially those interested in agricultural finance and governance, this meeting represents an opportunity for oversight and engagement with the Farm Credit Administration. It highlights transparency efforts by opening parts of the meeting to observation, a crucial aspect of fostering trust between government agencies and the public.

However, the closed sessions and lack of detailed explanation on these exemptions may lead to skepticism among citizens who prioritize extensive transparency in government proceedings. Those unfamiliar with the nuances of the exemptions may have difficulty understanding why certain discussions remain confidential.

Impact on Specific Stakeholders

Farm Credit Stakeholders: For stakeholders directly involved with or affected by the FCA, such as banks, rural communities, and agricultural businesses, the meeting serves as a periodical check on FCA Board activity. Access to discussions, albeit limited in open sessions, enables these stakeholders to maintain informed on policy and regulatory updates that may affect their operations.

Regulatory Observers: Additionally, regulatory bodies and policy analysts would benefit from the meeting by acquiring insights into the inner workings and priorities of the FCA, assisting them in preemptively aligning their strategies or concerns with forthcoming initiatives or changes.

In summary, this document outlines the logistics of an important meeting but leaves certain information areas open to interpretation. While the effort to conduct the meeting virtually expands accessibility, the limited scope of publicly available information, especially regarding closed sessions, might prompt stakeholders to call for more transparency or clarification regarding the matters discussed privately.