Flood disaster protection
This page provides links to information to help Farm Credit System lenders understand rules on flood insurance.
By law, System institutions must not make, increase, extend, or renew loans that are secured either by improved real estate or a mobile home if (a) the property is not covered by flood insurance and (b) the property is located in a community that participates in the National Flood Insurance Program.
Regulations and guidance
FCA, along with four other agencies (Federal Reserve Board, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency), has issued joint regulations to implement the flood insurance laws. FCA's flood insurance regulations are found at part 614, subpart S.
For further guidance, see FAQs about flood insurance on our website.
News related to flood protection
- March 11, 2021: Agencies Release Proposed New Interagency Questions and Answers Regarding Private Flood Insurance (PDF) (joint news release)
- September 1, 2020: Agencies extend comment period on proposed revisions to interagency questions and answers regarding flood insurance (PDF) (joint news release)
- June 26, 2020: Agencies release proposed revisions to interagency questions and answers regarding flood insurance (PDF) (joint news release)
- May 4, 2020: Flood insurance requirements (PDF), a supplement to the FCA informational memorandum providing guidance for System institutions affected by the COVID-19 pandemic
- February 12, 2019: New rule covers private flood insurance (PDF) (joint news release)
The National Flood Insurance Program is administered under the following legislation:
- National Flood Insurance Act of 1968 and Flood Disaster Protection Act of 1973 (PDF)
- National Flood Insurance Reform Act of 1994 (PDF)
- Flood Insurance Reform Act of 2004 (PDF)
- Biggert-Waters Flood Insurance Reform Act of 2012 (PDF) (Text begins on page 512.)
- National Flood Insurance Program and the Consolidated Appropriations Act of 2014 (PDF), a FEMA fact sheet
- Homeowners Flood Insurance Affordability Act of 2014 (PDF)
For more information, please contact Ira Marshall, Senior Policy Analyst, Office of Regulatory Policy, at [email protected] or Jennifer Cohn, Senior Counsel, Office of General Counsel, at [email protected].