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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 2022 Regulatory Projects Plan

Regulation Title/
RIN
Planned
Action

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

3052-AD36

Final Rule

04/00/2022

This rulemaking addresses 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 rule revises 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 also makes conforming amendments to other regulations that reference credit loss allowances.
Young, Beginning, and Small Farmers and Ranchers

3052-AD32

NPRM

05/00/2022

This rulemaking would require an annual, independent YBS strategic plan as part of the YBS program required by section 4.19 of the Farm Credit Act. The rule would set out minimum requirements of the plan. The rule would be designed to result in a rating system that evaluates each institution’s program as well as measures each institution’s year over year progress in lending and non-lending support provided to the YBS population.
Cybersecurity

3052-XXXX

NPRM

06/00/2022

This rulemaking would revise information technology regulations to address information security, multifactor authentication, and cybersecurity.
Collateral Evaluation Regulations

3052-AC94

Final Rule

07/00/2022

This rulemaking revises collateral evaluation regulations in light of changing credit and economic conditions.
Borrower Rights – Distressed Loan Servicing

3052-AD20

NPRM

08/00/2022

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.
Farmer Mac Capital Framework

3052-XXXX

ANPRM

09/00/2022

This ANPRM would consider whether to modernize Farmer Mac’s capital-related requirements to ensure Farmer Mac’s capital is of sufficient quality and quantity for safe and sound operations and also ensure the transparency of its capital structure to FCA and to the public. The ANPRM would, among other things, invite comment on whether and how to incorporate certain standards of the Basel III capital framework and similar approaches adopted by the Federal Bank Regulatory Agencies, as suitable for a secondary market GSE with a rural-focused mission.
Cooperative Principles

3052-AD40

End Review

11/00/2022

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.
Conservators and Receivers

3052-AD48

Final Rule

01/00/2023

This rulemaking updates certain FCA regulations in part 627 to reflect changes made in the Agricultural Improvement Act of 2018 (2018 Farm Bill). This rulemaking would also make conforming amendments to other regulations to clarify that they do not apply to bridge System banks, which are governed under new section 5.61C(h)(2) of the Farm Credit Act of 1971, as amended.
Bank Liquidity Reserve

3052-AD44

NPRM

04/00/2023

This rulemaking 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.
Limitations on Bank Director Compensation

3052-AD39

NPRM

05/00/2023

This rulemaking would revise FCA regulations on compensation of bank directors to comply with the Agriculture Improvement Act of 2018.
Risk Weighting of High Volatility Commercial Real Estate (HVCRE) Exposures

3052-AD42

Final Rule

06/00/2023

The rulemaking amends the Tier 1/Tier 2 Capital Rule to address a risk weight for high volatility commercial real estate (HVCRE) exposures. This rulemaking is similar to recent changes to the capital rules of the Federal banking regulatory agencies, but it takes into account unique features of the Farm Credit System.
Permanent Capital Deemed Compliance (PCDC)

3052-XXXX

NPRM

08/00/2023

This rulemaking would eliminate any regulatory requirement to calculate the permanent capital ratio or continue to require a System institution to separately comply with and report the permanent capital ratio. If a System institution fully complies with the tier 1/tier 2 capital framework (CET1, tier 1, total capital, and tier 1 leverage ratio minimums), it would be deemed to have complied with the permanent capital ratio. This rulemaking would also replace permanent capital with total capital in certain regulatory provisions, as appropriate.
Voluntary Liquidations

3052-AD50

NPRM

09/00/2023

This rulemaking would revise FCA regulations on voluntary liquidations of System institutions under section 4.12(a) of the Act.

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

Page updated: June 01, 2022