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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, 95 KB).



Regulatory Project
Type of
Action and Date


Purpose
January–March 2015
Eligibility Criteria for Directors

3052-AC97

Begin Review

01/20/15

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

01/20/15

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.
Farmer Mac – Corporate Governance and Standards of Conduct

3052-AC89

NPRM

02/00/15

Would consider whether to clarify and strengthen Board governance regulations found throughout Part 651 and to establish Standards of Conduct regulations.
Pension Benefit Disclosures

3052-AD02

Final Rule

02/00/15

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.
Field Office Locations

3052-xxxx

Direct Final

03/00/15

Would update Field Office addresses for Bloomington and Dallas.
Farmer Mac Risk-Based Capital Stress Test, Ver. 5.0

3052-AC70 

End Review

03/00/15

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.
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
Eligibility Criteria for Directors

3052-AC97

End Review

04/00/15

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

End Review

04/00/15

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.
Criminal Activity Referrals and Related Internal Controls

3052-AD03

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.
Farmer Mac—Investment Eligibility

3052-AC86 

NPRM

05/00/15

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.
Director Election Nomination Procedures

3052-AD04

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.
Appraisal Regulations

3052-AC94

End Review

06/00/15

Would consider whether changes in appraisal regulations are necessary in light of changing credit and economic conditions.
Attribution Rules

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.
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
Financing Farm-Related Service Businesses

3052-AC82 

End Review

07/00/15

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.  
Lending and Loan Servicing Controls

3052-xxxx

Begin Review

07/00/15

Would consider whether revised or additional regulatory guidance is needed for internal or other controls over the System’s lending functions, including the loan application, origination, servicing and portfolio administration functions. 
Loans in Areas Having Special Flood Hazards

3052-AC93

Final Rule

08/00/15

Would amend FCA regulations applicable to Farm Credit System lending to conform with the Biggert-Waters Flood Insurance Reform Act.
Territorial Concurrence

3052-AD01

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.
Revisions to Requirements for Mergers of Banks and Mergers of Associations

3052-AC72

Final Rule

09/00/15

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

09/00/15

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.   
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.
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.
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.
October–December 2015
Amortization Limits – Agricultural Credit Associations and Production Credit Associations

3052-AC92

NPRM

10/00/15

Would consider clarifying or changing the amortization limits for agricultural credit associations and production credit associations.
Capital—Basel 3

3052-AC81

Final Rule

10/00/15

Would revise sections of the capital rules at Part 615 so that they are consistent with Basel 3, as appropriate.
Farmer Mac – Corporate Governance and Standards of Conduct

3052-AC89

Final Rule

12/00/15

Would consider whether to clarify and strengthen Board governance regulations found throughout Part 651 and to establish Standards of Conduct regulations.
NPRM = Notice of Proposed Rulemaking
Spring 2015 Regulatory Projects Plan