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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.

Fall 2022 Regulatory Projects Plan

Regulation Title/
RIN
Planned
Action

Abstract
Loan Policies and Operations: Young, Beginning, and Small Farmers and Ranchers

3052-AD54

Final Rule

11/00/2022

This rulemaking would foster an increased activity by direct lender associations in the Young, Beginning and Small Farmer and Rancher (YBS) program and reinforce the responsibilities of the funding banks to support the YBS program (pursuant to section 4.19 of the Farm Credit Act). The proposed rule would require strategic plans for the YBS program, which would be evaluated against a rating system to measure year-over-year internal progress.
Farmer Mac Capital Framework

3052-AD51

ANPRM

12/00/2022

This rulemaking would modernize Farmer Mac’s capital-related requirements to ensure Farmer Mac’s capital is of sufficient quality and quantity for safe and sound operations. The rule would  also ensure the transparency of Farmer Mac’s capital structure and consider incorporating certain standards of the Basel III capital framework (similar to those adopted by the Federal Bank Regulatory Agencies) where suitable for a secondary market GSE with a rural-focused mission.
Cooperative Principles

3052-AD40

End Review

12/00/2022

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

02/00/2023

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.
Loan Participations and Territorial Concurrence

3052-XXXX

ANPRM

04/00/2023

This rulemaking would consider revising loan participation requirements as it relates to participating in loans outside of chartered territories.
Collateral Evaluation Regulations

3052-AC94

Final Rule

05/00/2023

This rulemaking revises collateral evaluation regulations in light of changing credit and economic conditions.
Cyber Risk Management

3052-AD53

Final Rule

06/00/2023

This rulemaking would revise information technology regulations to address information security, multifactor authentication, and cybersecurity.
Permanent Capital Deemed Compliance (PCDC)

3052-AD52

NPRM

07/00/2023

This rulemaking would revise the permanent capital ratio to provide that 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), the institution would be deemed to be in compliance with the permanent capital ratio requirement. Such an institution would not be required to calculate, separately comply with, or report the permanent capital ratio. This rulemaking would also replace permanent capital with total capital in certain regulatory provisions as appropriate.
Loans to Similar Entities

3052-XXXX

ANPRM

08/00/2023

This rulemaking would further explain what constitutes functional similarity in the conduct of activities that are performed by eligible borrowers and what constitutes a loan as it relates to similar entity lending.
Annual Independent Audits and Internal Controls over Financial Reporting (ICFR) Requirements

3052-XXXX

NPRM

10/00/2023

This rulemaking would consider whether FCA should amend its regulations concerning annual independent audits  to include audits of internal controls over financial reporting for System institutions.
Limitations on Bank Director Compensation

3052-AD39

NPRM

11/00/2023

This rulemaking would revise FCA regulations on compensation of bank directors by removing the cap on director compensation. This rulemaking would also incorporate FCA’s obligation to regulate and supervise System banks by reviewing bank director compensation to ensure director compensation does not adversely affect the safety and soundness of System banks.
Bank Liquidity Reserve

3052-AD44

NPRM

11/00/2023

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.
Borrower Rights – Distressed Loan Servicing

3052-AD20

NPRM

12/00/2023

This rulemaking would consider revisions on borrower rights regulations 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.
Risk Weighting of High Volatility Commercial Real Estate (HVCRE) Exposures

3052-AD42

Final Rule

01/00/2024

This 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.
Voluntary Liquidations

3052-AD50

NPRM

02/00/2024

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

3052-AD55

Final Notice

07/00/2024

In support of section 212(b) of the Farm Credit System Reform Act of 1996 and FCA’s Policy Statement on Regulatory Philosophy, this action would address comments received concerning the removal or revision of outdated, unnecessary, or burdensome regulations.

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

Page updated: January 05, 2023