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Flood insurance

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 (FDIC), National Credit Union Administration (NCUA), and Office of the Comptroller of the Currency (OCC)), has issued interagency regulations to implement the flood insurance laws. FCA's flood insurance regulations, which were last updated in 2015, are found at part 614, subpart S.

On May 11, 2022, FCA and the four agencies listed above released revised final interagency questions and answers (Q&As) that provide guidance on the interagency flood insurance regulations. These Q&As were published in the Federal Register (87 FR 32826 [PDF]) on May 31, 2022.

Webinars

The Federal Reserve has sponsored two public webinars on flood insurance. Staff from FCA, the Federal Reserve, FDIC, NCUA, and OCC participated in the discussions. Click on the links below to access audio recordings, transcripts, and presentation slides for both webinars.

News related to flood protection

Statutes

The National Flood Insurance Program is administered under the following legislation:

Contact information

For more information, please contact Ira Marshall, Senior Policy Analyst, Office of Regulatory Policy, at [email protected] or Jennifer Cohn, Assistant General Counsel, Office of General Counsel, at [email protected].

Page updated: September 23, 2022