Farm Credit Administration
1501 Farm Credit Drive
McLean, Virginia 22102-5090
For Immediate Release
Contact: Martha Schober or Christine Quinn, 703-883-4056
Web site: www.fca.gov
FCA Unified Agenda and Regulatory Performance Plan Approved
McLEAN, Va., March 9, 2006 — The Farm Credit Administration (FCA or Agency) Board recently approved the Agency’s Spring 2006 Unified Agenda of Federal Regulatory and Deregulatory Actions and the revised Regulatory Performance Plan for Fiscal Year 2006.
The Unified Agenda is published semiannually in the Federal Register and describes all rulemaking items that the Agency expects to conduct or review in the next 12 months. Items on the Agenda include an advance notice of proposed rulemaking on the assessment on FCS institutions, a re-proposed rule on investments in Farmers’ Notes, and a review of lending program requirements. Final rules on the Agenda include regulatory burden, disclosure and reporting requirements, risk-based capital standards for the Federal Agricultural Mortgage Corporation (Farmer Mac), and termination requirements for FCS institutions.
The revised Regulatory Performance Plan, which has been posted on FCA’s Web site, includes rulemaking actions that have occurred or are projected to occur during fiscal year 2006. The Plan is used in determining Agency compliance with the Government Performance and Results Act of 1993 (GPRA).
At its March board meeting today, the FCA Board conducted no new business. Since the February 9 Board meeting, three notational votes, including approval of the Unified Agenda, have occurred. Notational votes are actions taken by the FCA Board between Board meetings.
The Board authorized Northwest Farm Credit Services, ACA to make investments in agriculture and rural community (ARC) bonds under a pilot program designed to help meet the changing financing needs of young, beginning, and small farmers and ranchers, agricultural businesses, and rural communities.
The Board also approved guidance on the rules that the FCS banks and associations and the Federal Farm Credit Banks Funding Corporation could apply to prepare their annual reports for the fiscal year ending December 31, 2005.
The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System. FCA charters, regulates, and examines the 109 banks, associations, and service corporations of the System. System institutions make loans to agricultural producers and their cooperatives nationwide. Members of the FCA Board are Nancy C. Pellett, Chairman and CEO, Douglas L. “Doug” Flory, and Dallas P. Tonsager.
Note: FCA news releases are available on the Internet. Access the FCA Home Page at www.fca.gov.