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FCA Regulatory Projects Plan

The Agency posts its Regulatory Projects Plan twice a year, coinciding with its semiannual update of the Unified Regulatory Agenda, which is published on the Web at RegInfo.gov in the spring and fall of each year.

The plan lists the regulatory and policy projects that are active for a 12-month period and describes the types of regulatory and policy actions planned for each quarter and their purpose. The goal in providing the plan is to make upcoming regulatory actions transparent.

The plan is also available as a PDF (3 pages, 95 KB).



Regulatory Project
Type of
Action and Date


Purpose
October–December 2015
Organization of the Farm Credit Administration

3052-xxxx
Direct Final

08/00/15
Would update the organization of the Farm Credit Administration offices and functions to include the Office of IT Services. 
Bank Review of Insider Loans

3052-AC95  
End Review

09/30/15
Would consider whether the current regulations requiring bank review of association insider loans is appropriate for the System’s current structure and serves to ensure compliance with applicable Standards of Conduct regulations.
Director Election Nomination Procedures

3052-AD04
Begin Review

10/15/15
Would consider whether to modify current regulations and/or guidance related to the director nomination process, including information the nominating committees should have access to when considering potential nominees.
Lending and Loan Servicing Controls

3052-AD06
Begin Review
10/15/15

Would consider whether revised or additional regulatory guidance is needed for internal or other controls over the System’s lending functions, including the loan application, origination, servicing and portfolio administration functions.
Criteria to Reinstate Non-accrual Loans

3052-xxxx
Begin Review

10/15/15
Would consider amendments to the criteria for reinstating non-accrual loans under § 621.9.
Highly Compensated Employees Disclosures

3052-xxxx
Begin Review

10/15/15
Would consider amendments to our regulations that define highly compensated employees (HCEs) in § 620.6(c)(2)(i).  The purpose of this review would be to simplify the definition of HCE’s to provide consistent and quality disclosure information to shareholders. 
Margin and Capital Requirements for Covered Swap Entities

3052-AC69
Interim Final Rule

10/00/15
Interagency rulemaking that exempts certain financial end users from  the margin requirements in the final rule called “Margin and Capital Requirements for Covered Swap Entities.”
Margin and Capital Requirements for Covered Swap Entities

3052-AC69
Final Rule

10/00/15
Interagency rulemaking to implement sections 731 and 764 of the Dodd-Frank Act by establishing margin and capital requirements for FCS institutions, including Farmer Mac, that engage in non-cleared swaps and non-cleared security-based swap transactions.. 
Appraisal Regulations

3052-AC94
End Review

11/00/15
Would consider whether changes in appraisal regulations are necessary in light of changing credit and economic conditions.
Eligibility Criteria for Directors

3052-AC97
End Review

11/00/15
Would consider eligibility criteria for directors, particularly in situations where an individual owns an interest in an entity that is a borrower/stockholder of a System bank or association.
Removal of Stockholder-elected Directors

3052-AC98
End Review

11/00/15
Would consider whether, and under what circumstances, a stockholder-elected director of a System bank or association can be removed by the bank’s or association’s board of directors. 
Territorial Concurrence

3052-AD01

 

End Review

12/00/15

 

Would consider whether the current regulations requiring notice or concurrence for loans extended in another association’s chartered territory are appropriate for the System’s current structure, lending practices and operating environment, and serve to support safety and soundness, operational efficiency, cooperative principles, and customer service.
Farmer Mac—Investment Eligibility

3052-AC86 
NPRM

12/00/15
Would consider appropriate changes related to eligible investment asset classes and address the removal of references to credit ratings as required by section 939A of the Dodd-Frank Act.
January–March 2016
Financing Farm-Related Service Businesses

3052-AC82

 

End Review

01/00/16
Evaluate the System’s lending to farm related service businesses under § 613.3020 and determine whether these regulations provide the appropriate framework for determining eligibility and purposes of financing for service providers, including service providers within local food systems, in accordance with the Farm Credit Act. 
Capital—Basel 3

3052-AC81 
Final Rule

02/00/16
Would revise sections of the capital rules at Part 615 so that they are consistent with Basel 3, as appropriate.
Attribution Rules

3052-AC99
Begin Review

03/00/16
Would consider whether to modify current attribution rules that are applied to determine when loans to a related borrower are combined and attributed to a borrower’s outstanding loans for lending and leasing limit purposes.
Amortization Limits – Agricultural Credit Associations and Production Credit Associations

3052-AC92
NPRM

03/00/16
Would consider clarifying or changing the amortization limits for agricultural credit associations and production credit associations.
Standards of Conduct

3052-AC44 
Final Rule

03/00/16
Would make regulatory changes to clarify and strengthen the existing standards of conduct regulations at Subpart A, Part 612, including issues surrounding director fiduciary duties.
April–June 2016
Criteria to Reinstate Non-accrual Loans

3052-xxxx
End Review

04/00/16
Would consider amendments to the criteria for reinstating non-accrual loans under § 621.9.
Highly Compensated Employees Disclosures

3052-xxxx
End Review

04/00/16
Would consider amendments to our regulations that define highly compensated employees (HCEs) in § 620.6(c)((2)(i) by specifying the components included in the Summary Compensation Table that are not to be included by institutions in their calculations when determining HCEs.
Farmer Mac – Corporate Governance and Standards of Conduct

3052-AC89
Final Rule

04/00/16

 

Would consider whether to clarify and strengthen Board governance regulations found throughout Part 651 and to establish Standards of Conduct regulations.
Lending and Loan Servicing Controls

3052-AD06
End Review



04/00/16
Would consider whether revised or additional regulatory guidance is needed for internal or other controls over the System’s lending functions, including the loan application, origination, servicing and portfolio administration functions.
Criminal Activity Referrals and Related Internal Controls

3052-AD03
End Review



04/00/16
Would consider whether the current regulatory guidance regarding internal controls to prevent, identify, and monitor fraud and criminal activity needs revisions. Will also review the processes for referring known or suspected criminal violations.
Investment Eligibility

3052-AC84
Final Rule

04/00/16
Would consider revisions to the investment eligibility regulations for banks and associations at § 615.5140 and § 614.5242, respectively, including modifications to remove references to credit ratings and substitute an appropriate standard of creditworthiness as required by section 939A of the Dodd-Frank Act.   
Private Flood Insurance

3052-xxxx
NPRM



06/00/16
Would amend FCA regulations applicable to Farm Credit System lending to conform with the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. 
July–September 2016
Basel III Liquidity Requirements

3052-xxxx
Begin Review


7/00/16
Would study whether it to align liquidity requirements with the Federal Banking Regulatory Authorities (FBRAs) and adopt a Basel  III Liquidity Regime. Included in this study is whether both a Liquidity Coverage Ratio (LCR)  and the Net Stable Funding Ratio (NSFR)  are applicable for System banks.
Pending
Farmer Mac Risk-Based Capital Stress Test, Ver. 5.0

3052-AC70 

Pending Would consider removing credit ratings data as inputs in the Risk Based Capital model pursuant to section 939A of the Dodd-Frank Act.  Also, consider requirements to include diversity and inclusion in operational and strategic planning regulations.
NPRM = Notice of Proposed Rulemaking
Fall 2015 Regulatory Projects Plan