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Regulatory projects plan

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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 describes the regulatory projects scheduled for the next 12 to 24 months. The goal in providing the plan is to make upcoming regulatory actions transparent.

Spring 2021 Regulatory Projects Plan

Regulation Title/
RIN
Planned
Action

Abstract

Collateral Evaluation Regulations

3052-AC94

NPRM

05/00/2021
This rulemaking would consider revisions to collateral evaluation regulations in light of changing credit and economic conditions.
Farmer Mac Report Submission Process Change 3052-AD47

Direct Final Rule

05/00/2021
This rulemaking would eliminate the requirement that Farmer Mac submit paper copies of certain reports to FCA in addition to electronic submissions.

Bank Liquidity Reserve

3052-AD44

ANPRM

06/00/2021
This ANPRM would consider whether the FCA should amend its existing liquidity regulation and more closely align it with the Basel III Liquidity framework and the approach of the Federal Bank Regulatory Agencies. The ANPRM would also inquire whether a Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) in the Basel III framework is suitable for Farm Credit System banks, which operate under a cooperative structure, and do not rely on deposits to fund their assets.

Risk Weighting of High Volatility Commercial Real Estate (HVCRE) Exposures

3052-AD42

NPRM

07/00/2021
The rulemaking would consider amending the Tier 1/Tier 2 Capital Rule to include a 150-percent risk weight for high volatility commercial real estate (HVCRE) exposures. This rulemaking would be similar to recent changes to the capital rules of the Federal banking regulatory agencies, but it would take into account unique features of the Farm Credit System.

Eligibility Criteria for Outside Directors

3052-AC97

Final Rule

07/00/2021
This rulemaking would consider eligibility criteria for outside directors, particularly in situations where an individual owns an interest in an entity that is a borrower/stockholder of a Farm Credit System bank or association.

Standards of Conduct

3052-AC44

Final Rule

08/00/2021
This rulemaking would revise the existing standards of conduct regulations in Subpart A, Part 612, and provide for a more principle-based rule to facilitate a sound standards of conduct program at System institutions.

Revision to Tier 1/ Tier 2 Capital Framework

3052-AD27

Final Rule

09/00/2021
This rulemaking would amend the Tier 1/ Tier 2 Regulatory Capital and related regulations by making technical and minor substantive corrections and clarifications.

Cooperative Principles

3052-AD40

End Review

10/00/2021
This review would consider cooperative principles and practices at System institutions including, but not limited to, whether revisions to Parts 611 and 615 are needed regarding association stock issuance policies and the impact of those policies on district bank governance.

Borrower Rights – Distressed Loan Servicing

3052-AD20

NPRM

10/00/2021
This rulemaking would consider revisions to subpart E of Part 617 on borrower rights to clarify disclosure and servicing requirements for distressed loans. The rulemaking would update content requirements for distressed loan notices and clarify application review procedures, including how to identify inputs for use in conducting the least cost analysis.

Limitations on Bank Director Compensation

3052-AD39

NPRM

11/00/2021
This rulemaking would revise FCA regulations on compensation of bank directors to comply with the Agriculture Improvement Act of 2018.

Young, Beginning, and Small Farmers and Ranchers

3052-AD32

End Review

12/00/2021
This rulemaking would consider changing how the collection of data on young, beginning and small (YBS) farmers and ranchers’ changes is done to improve reporting of YBS farmers and ranchers’ operations and achievements. Additionally, this rulemaking would consider formalizing the definitions of “young,” “beginning,” and “small” farmers and ranchers to alleviate variability in reported YBS data.

Farm Credit System Bridge Bank

3052-AD48

NPRM

02/00/2022
This rulemaking would update certain FCA regulations in Part 627 to reflect changes made in the Agricultural Improvement Act of 2018 (2018 Farm Bill). This rulemaking would also create new regulations on the authority to charter and supervise a system bridge bank under new section 5.61C of the Farm Credit Act.

Implementation of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule & Conforming Amendments

3052-AD36

Final Rule

06/00/2022
This rulemaking would address changes to U.S. generally accepted accounting principles (U.S. GAAP) described in Accounting Standards Update No. 201613, Topic 326, Financial Instruments Credit Losses (ASU 201613), including System institutions’ implementation of the current expected credit losses methodology. Specifically, the proposal would revise the Agency’s regulatory capital rules to identify which credit loss allowances under the new accounting standard are eligible for inclusion in regulatory capital. The rulemaking would also make conforming amendments to other regulations that reference credit loss allowances.

Note: NPRM = Notice of proposed rulemaking; ANPRM = Advance notice of proposed rulemaking

Page updated: May 24, 2021