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 2024 Regulatory Projects Plan**
Regulation Title/ RIN	Planned Action	Abstract
Loans to Similar Entities 3052-AD58	ANPRM 07/00/2024	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-AD56	NPRM 08/00/2024	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.
Borrower Rights – Distressed Loan Servicing 3052-AD20	NPRM 09/00/2024	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.
Collateral Evaluation Regulations 3052-AC94	Repropose 11/00/2024	This rulemaking would revise collateral evaluation regulations in light of changing credit and economic conditions.
Elimination of Troubled Debt Restructuring Accounting and Incorporation of New Disclosures for Borrowers Experiencing Financial Difficulty 3052-AD63	NPRM 12/00/2024	This rulemaking would amend FCA regulations by removing “Formally restructured loans” also known as troubled debt restructurings (TDR), as a loan performance category due to changes in generally-accepted accounting principles (GAAP). This rulemaking would also consider disclosures for loan modifcations to borrowers experiencing financial difficulty.
Loan Participations and Territorial Concurrence 3052-AD57	ANPRM 01/00/2025	This rulemaking would consider revising loan participation requirements as it relates to participating in loans outside of chartered territories.
Permanent Capital Revisions 3052-AD52	NPRM 02/00/2025	This rulemaking would replace certain references to permanent capital with references to tier 1/tier 2 capital and make other revisions as appropriate. These revisions seek to reduce computational, call reporting, shareholder reporting, and capital planning requirements.
Voluntary Liquidations 3052-AD50	NPRM 03/00/2025	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 04/00/2025	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.
Farmer Mac Capital Framework 3052-AD51	NPRM 05/00/2025	This rulemaking would consider updating Farmer Mac’s regulatory capital framework in furtherance of Farmer Mac’s safe and sound operations and its role in promoting affordable and sustainable access to credit in agricultural and rural communities. The rulemaking is intended to ensure Farmer Mac operates under a transparent, comprehensive, and robust capital framework and will consider whether and how to incorporate elements of other established and emerging regulatory frameworks governing capital as appropriate for Farmer Mac’s non-bank, rural-focused, secondary market business model and status as a Government-sponsored enterprise.
Bank Liquidity Reserve 3052-AD44	NPRM 06/00/2025	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.

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

Page updated: June 05, 2024