For Immediate Release
NR 13-03 (02-14-13)
Contact: Mike Stokke or Christine Quinn, 703-883-4056
E-mail: info-line@fca.gov
Website: www.fca.gov
FCA Board Approves Spring 2013 Unified Agenda, Regulatory Projects Plan
McLEAN, Va., Feb. 14, 2013 — The Farm Credit Administration (FCA) Board today approved the abstract of its spring 2013 submission for the Unified Agenda of Federal Regulatory and Deregulatory Actions and the Spring 2013 Regulatory Projects Plan.
FCA’s Unified Agenda submission identifies the FCA Board’s regulatory priorities for the next 12 months. The submission identifies 21 rulemaking items that FCA is considering:
1. Liquidity and Funding (Final Rule)
2. GAAP References and Other Conforming Amendments (Direct Final Rule)
3. Rules of Practice and Procedure; Adjusting Civil Money Penalties--12 CFR Part 622--Flood Insurance (Direct Final Rule)
4. Repeal of Part 610--Registration of Mortgage Loan Originators (Interim Final Rule)
5. Farmer Mac--Liquidity Management (Final Rule)
6. Investment Eligibility (Proposed Rule)
7. FCS Institutions’ Investments in Unincorporated Business Entities (Final Rule)
8. Farmer Mac--Investment Eligibility (Proposed Rule)
9. Capital--Basel III (Proposed Rule)
10. Data Submissions and Management (Proposed Rule)
11. Standards of Conduct (Proposed Rule)
12. Association Investments (Proposed Rule)
13. Institution Stockholder Voting Procedures (Proposed Rule)
14. Regulatory Burden (Notice for Comments)
15. Margin and Capital Requirements for Noncleared Swaps (Final Rule)
16. Revisions to Requirements for Mergers of Banks and Mergers of Associations (Proposed Rule)
17. Farmer Mac--Capital Planning (Final Rule)
18. Investment Eligibility (Final Rule)
19. Farmer Mac--Investment Eligibility (Final Rule)
20. Association Investments (Final Rule)
21. Data Submissions and Management (Final Rule)
The proposed abstract also identifies four new projects that are in the pre-rule stage:
1. Amortization Limits—Agricultural Credit Associations and Production Credit Associations
2. Farmer Mac—Corporate Governance and Standards of Conduct
3. Bank/Association Lending Relationship
4. Financing Farm-Related Service Businesses
In addition, it identifies five actions whose pre-rule review will be completed in 2013:
1. Farmer Mac—Operational and Business Planning—Diversity and Inclusion
2. Agency Lending Guidance
3. Agency Young, Beginning and Small (YBS) Farmer Guidance
4. Investments in Rural America
5. Loan Portfolio Data Submissions
The proposed abstract identifies two rulemaking actions as pending: the Farmer Mac Risk-Based Capital Stress Test, Version 5.0, and Rural Community Investments.
The information in FCA’s submission will be included in the official Unified Regulatory Agenda, which is published semiannually on the Internet at www.reginfo.gov.
The Regulatory Projects Plan shows only the reviews and actions that are projected to occur over the next 12 months, and it is posted on the FCA website at www.fca.gov/law/proj_plan.html.
Report
During the closed session of the meeting, the Board received a quarterly report from the Office of Secondary Market Oversight.
Notational Votes
Since the Jan. 10 FCA Board meeting, one notational vote has occurred. Notational votes are actions the FCA Board takes between Board meetings.
· On Feb. 7, the FCA Board approved by notational vote a Notice of Petition and Request for Comment. The Board approved the notice in response to a petition to repeal regulations on nonbinding advisory votes for senior officer compensation. The notice will be published in the Federal Register with a comment period of 60 days.
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The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System and the Federal Agricultural Mortgage Corporation (Farmer Mac). FCA charters, regulates, and examines the 94 banks, associations, service corporations and special-purpose entities of the Farm Credit System. The System makes loans to agricultural producers and their cooperatives nationwide. It includes Farmer Mac, which provides a secondary market for agricultural real estate loans, rural housing mortgage loans, and certain rural utility loans. Members of the FCA Board are Jill Long Thompson, Board Chair and CEO; Kenneth A. Spearman; and Leland A. Strom.
Note: FCA news releases are available on the Web at www.fca.gov.
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