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FCA 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 lists the regulatory and policy projects that are active for a 12-month period and describes the types of regulatory and policy actions planned for each quarter and their purpose. The goal in providing the plan is to make upcoming regulatory actions transparent.

The plan is also available as a PDF (3 pages, 96 KB).

Regulation Project/Date
Type of
Action
Purpose
October–December 2014
Crop Insurance Sales Compensation
3052-AC96
Begin Review
08/06/14
Would consider whether current limitations on compensation from crop insurance sales should be modified.
Territorial Concurrence
(614.4070)
3052-XXXX
Begin Review
09/01/14
Would consider whether the current regulations requiring notice or concurrence for loans extended in another association’s chartered territory are appropriate for the System’s current structure, lending practices and operating environment, and serve to support safety and soundness, operational efficiency, cooperative principles, and customer service.
Pension Benefit Disclosures
(620.6)
3052-XXXX
NPRM
11/00/14
Would amend reporting requirements to exclude disclosure in the Summary Compensation Table of employees’ compensation, who would not otherwise be considered highly compensated employees but for the sole reason of the value of their respective qualified retirement plans and the plans are available to all employees on the same basis.
Loans in Areas Having Special Flood Hazards
3052-AC93
NPRM
11/00/14
Would amend FCA regulations applicable to Farm Credit System lending to conform with the Biggert-Waters Flood Insurance Reform Act.
Revisions to Requirements for Mergers of Banks and Mergers of Associations
3052-AC72 
NPRM 11/00/14 Would consider revisions to regulations in Part 611 on the requirements for the merger or consolidation of banks and the merger and consolidation of associations.
Farmer Mac – Corporate Governance and Standards of Conduct
3052-AC89
NPRM
12/00/14
Would consider whether to clarify and strengthen Board governance regulations found throughout Part 651 and to establish Standards of Conduct regulations.
Farmer Mac Risk-Based Capital Stress Test, Ver. 5.0
3052-AC70 
End Review
12/00/2014
Would consider removing credit ratings data as inputs in the Risk Based Capital model pursuant to section 939A of the Dodd-Frank Act.  Also, consider requirements to include diversity and inclusion in operational and strategic planning regulations.
January–March 2015
Eligibility Criteria for Directors
3052-AC97
Begin Review
01/00/15
Would consider eligibility criteria for directors, particularly in situations where an individual owns an interest in an entity that is a borrower/stockholder of a System bank or association.
Removal of Stockholder-elected Directors
3052-AC98
Begin Review 01/00/15 Would consider whether, and under what circumstances, a stockholder-elected director of a System bank or association can be removed by the bank’s or association’s board of directors.
Amortization Limits – Agricultural Credit Associations and Production Credit Associations
3052-AC92
End Review
01/00/15
Would consider clarifying or changing the amortization limits for agricultural credit associations and production credit associations.
Farmer Mac—Investment Eligibility
3052-AC86  
NPRM
01/00/15
Would consider appropriate changes related to eligible investment asset classes and address the removal of references to credit ratings as required by section 939A of the Dodd-Frank Act.
Financing Farm-Related Service Businesses
3052-AC82
End Review
03/00/15
Evaluate the System’s lending to farm related service businesses under 613.3020 and determine whether these regulations provide the appropriate framework for determining eligibility and purposes of financing for service providers, including service providers within local food systems, in accordance with the Farm Credit Act.
Bank/Association Lending Relationship
3052-AC90
End Review
03/00/15
Evaluate regulatory requirements on general financing agreements between banks and associations under 614.4125 and consider whether bank authorities to address safety and soundness issues in affiliated associations could be enhanced.
April–June 2015
Appraisal Regulations
3052-AC94
End Review
04/00/15

Would consider whether changes in appraisal regulations are necessary in light of changing credit and economic conditions.
Criminal Activity Referrals and Related Internal Controls
3052-XXXX 
        
Begin Review
04/00/15
Would consider whether the current regulatory guidance regarding  internal controls to prevent, identify, and monitor fraud and criminal activity needs revisions. Will also review the processes for referring known or suspected criminal violations.
Director Election Nomination Procedures
3052-XXXX
Begin Review
05/00/15
Would consider whether to modify current regulations and/or guidance related to the director nomination process, including information the nominating committees should have access to when considering potential nominees.
Attribution Rules
(614.4359)
3052-AC99
Begin Review
06/00/15
Would consider whether to modify current attribution rules that are applied to determine when loans to a related borrower are combined and attributed to a borrower’s outstanding loans for lending and leasing limit purposes.
Loans in Areas Having Special Flood Hazards
3052-AC93
Final Rule
06/00/15
Would amend FCA regulations applicable to Farm Credit System lending to conform with the Biggert-Waters Flood Insurance Reform Act.
Margin and Capital Requirements for Non-cleared Swaps
3052-AC69
Final Rule
06/00/15
Interagency rulemaking to implement sections 731 and 764 of the Dodd-Frank Act by establishing margin and capital requirements for FCS institutions, including Farmer Mac, that engage in non-cleared swaps and non-cleared security-based swap transactions.
Institution Stockholder Voting Procedures
3052-AC85
Final Rule
06/00/15
Would amend FCA regulations to clarify and enhance voting procedures related to procedures for tabulating votes, the use of teller committees, the distribution and handling of ballots, and other items as identified.
July–September 2015
Revisions to Requirements for Mergers of Banks and Mergers of Associations
3052-AC72
Final Rule
07/00/15
Would consider revisions to regulations in Part 611 on the requirements for the merger or consolidation of banks and the merger and consolidation of associations.
Investment Eligibility
3052-AC84  
Final Rule
08/00/15
Would consider revisions to the investment eligibility regulations for banks and associations at 615.5140 and 614.5242, respectively, including modifications to remove references to credit ratings and substitute an appropriate standard of creditworthiness as required by section 939A of the Dodd-Frank Act.   
Capital—Basel 3
3052-AC81
Final Rule
08/00/15
Would revise sections of the capital rules at Part 615 so that they are consistent with Basel 3, as appropriate.
Crop Insurance Sales Compensation
3052-AC96 
End Review
09/00/15
Would consider whether current limitations on compensation from crop insurance sales should be modified.
Territorial Concurrence
(614.4070)
3052-XXXX
End Review
09/00/15
Would consider whether the current regulations requiring notice or concurrence for loans extended in another association's chartered territory are appropriate for the System's current structure, lending practices and operating environment, and serve to support safety and soundness, operational efficiency, cooperative principles, and customer service.
Bank Review of Insider Loans
3052-AC95   
End Review
09/00/15
Would consider whether the current regulations requiring bank review of association insider loans is appropriate for the System’s current structure and serves to ensure compliance with applicable Standards of Conduct regulations.
Farmer Mac – Corporate Governance and Standards of Conduct
3052-AC89
Final Rule
09/00/15
Would consider whether to clarify and strengthen Board governance regulations found throughout Part 651 and to establish Standards of Conduct regulations.
Farmer Mac—Investment Eligibility
3052-AC86
Final Rule
09/00/15
Would consider appropriate changes related to eligible investment asset classes and address the removal of references to credit ratings as required by section 939A of the Dodd-Frank Act.
Standards of Conduct
3052-AC44 
Final Rule
09/00/15
Would make regulatory changes to clarify and strengthen the existing standards of conduct regulations at Subpart A, Part 612, including issues surrounding director fiduciary duties.
Fall 2014 Regulatory Projects Plan