MANDATORY RESERVES AND SUBORDINATED PARTICIPATION INTERESTS ELIMINATED.

SEC. 108. MANDATORY RESERVES AND SUBORDINATED PARTICIPATION INTERESTS ELIMINATED. (a) Guarantee of Qualified Loans.— Section 8.6 of the Farm Credit Act of 1971 (12 U.S.C. 2279aa–6) is amended by striking subsection (b). (b) Reserves and Subordinated Participation Interests.— Section 8.7 of the Farm Credit Act of 1971 (12 U.S.C. 2279aa–7) is repealed. (c) Conforming Amendments.— (1) Section 8.0(9)(B)(i) of the Farm Credit Act of 1971 (12 U.S.C. 2279aa(9)(B)(i)) is amended by striking “8.7, 8.8,” and inserting “8.8”. (2) Section 8.6(a)(2) of the Farm Credit Act of 1971 (12 U.S.C. 2279aa–6(a)(2)) is amended by striking “subject to the provisions of subsection (b)”. 110 STAT. 165