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Regulatory projects plan

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 and policy projects scheduled for the next 12 months. The goal in providing the plan is to make upcoming regulatory actions transparent. The plan is also available as a PDF.

Note: We have now resumed some of our regulatory activities following the regulatory pause announced in an informational memorandum (PDF) on June 4. For more information about our regulatory pause and our plans for regulatory activities over the summer, see the July 16 news release (PDF).  

Spring 2020 Regulatory Projects Plan

Regulation Title/
RIN
Type of
Action

Abstract
Margin and Capital Requirements for Covered Swap Entities – LIBOR
3052-AD38
Final Rule
03/00/2020
This joint interagency rulemaking would amend the regulation governing Margin and Capital Requirements for Covered Swap Entities to clarify that certain non-cleared swaps would retain their legacy status if they are amended solely to substitute another reference rate for London Interbank Offered Rate (LIBOR) as it is phased out and to address other issues. (Joint Agency Rulemaking with the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Housing Finance Agency)
Margin and Capital Requirements for Covered Swap Entities
3052-AD34
Final Rule 03/00/2020 This joint interagency rule would amend regulations governing the status of legacy swaps between a covered swap entity’s affiliate or related establishment in the United Kingdom (U.K.) and a European Union (EU) counterparty when the U.K. affiliate or establishment transfers the swaps to an affiliate or other related establishment located within the EU if the U.K. withdraws from the EU without an agreement. (Joint Agency Rulemaking with the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Housing Finance Agency)
Appraisal Regulations
3052-AC94
NPRM 04/00/2020 This rulemaking would consider revisions to collateral evaluation regulations in light of changing credit and economic conditions.
Standards of Conduct
3052-AC44
Final Rule 04/00/2020 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.
Borrower Rights
3052-AD20
NPRM 05/00/2020 This rulemaking would consider revisions to regulations in Part 617 on borrower rights to clarify disclosure and servicing requirements.
Limitations on Bank Director Compensation
3052-AD39
NPRM 05/00/2020 This rulemaking would revise FCA regulations on compensation of bank directors to comply with the Agriculture Improvement Act of 2018.
Investment Eligibility
3052-AD35
Final Rule 06/00/2020 This rulemaking would consider whether to include certain obligations unconditionally guaranteed by the United States Department of Agriculture as eligible investments for associations.
Cooperative Principles
3052-AD40
End Review 09/00/2020 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.
Risk Weighting of High Volatility Commercial Real Estate (HVCRE) Exposures
3052-AD42 (NEW)
NPRM 12/00/2020 This rulemaking would amend the Tier 1/Tier 2 Regulatory Capital rule to ensure consistency, to the extent practical, with the Capital Rules of the Federal Banking Regulatory Agencies (FBRAs), which revised the definition of HVCRE. Additionally, this rulemaking will consider whether the 150 percent risk-weight on HVCRE by the FBRAs is appropriate for the Farm Credit System and its applicability to agricultural lending. Section 628.32(j) of the Tier 1/Tier 2 Regulatory Capital rule was reserved as a placeholder for the future incorporation of HVCRE.
District Financial Reporting
3052-AD37
Final Rule 12/00/2020   This rulemaking would consider revisions to FCA regulations on district financial reporting format, content, and distribution.
Amortization Limits – Agricultural Credit Associations and Production Credit Associations
3052-AC92
Final Rule 12/00/2020 This rulemaking would consider clarifying or changing the amortization limits for agricultural credit associations and production credit associations.
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.
Implementation of the Current Expected Credit Losses Methodology for Allowances and Related Adjustments to the Regulatory Capital Rule & Conforming Amendments
3052-AD36
Final Rule 12/00/2021 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.
Page updated: July 16, 2020