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