[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[Farm Credit Administration Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]



[[Page 22259]]



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Part LII



Farm Credit Administration



_______________________________________________________________________

Semiannual Regulatory Agenda

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FARM CREDIT ADMINISTRATION (FCA)                                       




_______________________________________________________________________

FARM CREDIT ADMINISTRATION

12 CFR Ch. VI

Unified Agenda of Federal Regulatory and Deregulatory Actions

AGENCY: Farm Credit Administration.

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY: The Farm Credit Administration (FCA), as an independent 
regulatory agency in compliance with Executive Order 12866, sets forth 
the following agenda of regulations which it will have under 
development and review during the period of April 1999 through October 
1999.

FOR FURTHER INFORMATION CONTACT: Cindy R. Nicholson, Paralegal 
Specialist, Regulation and Policy Division, Office of Policy and 
Analysis, Farm Credit Administration, 1501 Farm Credit Drive, McLean, 
Virginia 22102-5090, (703) 883-4498, TDD (703) 883-4444.

SUPPLEMENTARY INFORMATION: The Regulatory Flexibility Act (5 U.S.C. 601 
et seq.) contains several provisions intended to reduce unnecessary and 
disproportionate regulatory requirements on small entities. FCA 
regulations, which apply to Farm Credit banks and associations and 
certain other federally chartered entities, generally do not and will 
not have a substantial impact on ``small entities'' as that term is 
defined in the Regulatory Flexibility Act.

    The FCA, as an independent regulatory agency, is exempt from 
certain provisions of Executive Order 12866. It participates in 
this joint publication to further the public interest by including 
the FCA in a single source of information concerning current and 
projected rulemaking and reviews of existing regulations, pursuant 
to section 4 of the Executive Order 12866.

Dated: February 17, 1999.

Vivian L. Portis,

Secretary, Farm Credit Administration Board.

                                               Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4082         Federal Agricultural Mortgage Corporation Risk-Based Capital Regulation..............    3052-AB56
4083         Loan Policies and Operations (Comprehensive Borrower Rights).........................    3052-AB69
4084         Releasing Information................................................................    3052-AB84
4085         Organization (Reorganization Authorities for System Institutions)....................    3052-AB86
4086         Organization; Loan Policies and Operations; General Provisions; Chartered Territories    3052-AB87
            (Customer Choice).....................................................................
----------------------------------------------------------------------------------------------------------------


                                                Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4087         Loan Policies and Operations; Leasing; General Provisions; Accounting and Reporting      3052-AB63
            Requirements (Leasing Authorities)....................................................
4088         Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations         3052-AB76
            (Investment Management)...............................................................
4089         Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations (FCB    3052-AB80
            Assistance to Associations)...........................................................
----------------------------------------------------------------------------------------------------------------


                                                Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4090         Organization and Functions (FCA Organization)........................................    3052-AB82
4091         Statement on Regulatory Burden.......................................................    3052-AB85
----------------------------------------------------------------------------------------------------------------


                                                Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4092         Organization (Balloting and Stockholder Reconsideration Issues)......................    3052-AB71
4093         Organization (FCS Board Compensation Limits).........................................    3052-AB79
----------------------------------------------------------------------------------------------------------------


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FARM CREDIT ADMINISTRATION (FCA)                    Proposed Rule Stage




_______________________________________________________________________




4082. FEDERAL AGRICULTURAL MORTGAGE CORPORATION RISK-BASED CAPITAL 
REGULATION

Priority:  Other Significant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  12 USC 2279bb-1; 12 USC 2279aa-11(a)(1)(B)(ii)

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: This regulation will establish risk-based capital 
requirements for the Federal Agricultural Mortgage Corporation (also 
known as Farmer Mac). The law says these regulatory requirements will 
be used to determine the amount of capital needed to survive a 10-year 
period of both unfavorable credit and interest rate conditions. The law 
includes additional details on the level of unfavorable conditions to 
be included in the requirements.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office and Policy 
and and Analysis, 703-883-4498, [email protected]
FOR FURTHER INFORMATION: http://www.fca.gov
EMAIL: [email protected]

Agency Contact: Carl Clinefelter, Director, Office of Secondary Market 
Oversight, Farm Credit Administration, 1501 Farm Credit Drive, McLean, 
VA 22102-5090
Phone: 703 883-4280
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB56
_______________________________________________________________________




4083. LOAN POLICIES AND OPERATIONS (COMPREHENSIVE BORROWER RIGHTS)

Priority:  Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority:  12 USC 2011; 12 USC 2013; 12 USC 2014; 12 USC 2015; 
12 USC 2017; 12 USC 2018; 12 USC 2071; 12 USC 2073; 12 USC 2074; 12 USC 
2075; 12 USC 2091; 12 USC 2093; 12 USC 2094; 12 USC 2096; 12 USC 2121

CFR Citation:  12 CFR 614

Legal Deadline: None

Abstract: This rulemaking would revise borrower rights regulations to 
provide clarification and remove unnecessary burdens.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected]. FOR FURTHER 
INFORMATION:http://www.fca.gov EMAIL:[email protected]

Agency Contact: Gaylon Dykstra, Policy Analyst, Office of Policy and 
Analysis, Farm Credit Administration, 1501 Farm Credit Drive, McLean, 
VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB69
_______________________________________________________________________




4084. RELEASING INFORMATION

Priority:  Info./Admin./Other

Legal Authority:  5 USC 552; 12 USC 2243; 12 USC 2252; EO 12600

CFR Citation:  12 CFR 602

Legal Deadline: None

Abstract: This rulemaking would conform FCA regulations to Department 
of Justice guidance and clarify procedures for processing requests for 
exempt information.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/08/99                    64 FR 10954
NPRM Comment Period End         04/07/99

Regulatory Flexibility Analysis Required: Undetermined

Government Levels Affected: Undetermined

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected]
FOR FURTHER INFORMATION: http//www.fca.gov
EMAIL: [email protected]

Agency Contact: John J. Hays, Policy Analyst, Office of Policy and 
Analysis, Farm Credit Administration, 1501 Farm Credit Drive, McLean, 
VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB84
_______________________________________________________________________




4085. ORGANIZATION (REORGANIZATION AUTHORITIES FOR SYSTEM INSTITUTIONS)

Priority:  Other Significant

Legal Authority:  12 USC 2011; 12 USC 2021; 12 USC 2071; 12 USC 2091; 
12 USC 2121; 12 USC 2142; 12 USC 2183; 12 USC 2203; 12 USC 2209; 12 USC 
2243; 12 USC 2244; 12 USC 2252; 12 USC 2279a to 2279f-1; 12 USC 
2279aa5(e)

CFR Citation:  12 CFR 611

Legal Deadline: None

Abstract: This rulemaking would establish regulations under which a 
bank or large association within the Farm Credit System can terminate 
its charter as provided for in the Farm Credit Act of 1971, as amended.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected]
FOR FURTHER INFORMATION: http://www.fca.gov
EMAIL: [email protected]

Agency Contact: Alan Markowitz, Senior Policy Analyst, Office of Policy 
and Analysis, Farm Credit

[[Page 22262]]

Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB86
_______________________________________________________________________




4086.  ORGANIZATION; LOAN POLICIES AND OPERATIONS; GENERAL 
PROVISIONS; CHARTERED TERRITORIES (CUSTOMER CHOICE)

Priority:  Other Significant

Legal Authority:  12 USC 2011; 12 USC 2013; 12 USC 2014; 12 USC 2015; 
12 USC 2017; 12 USC 2018; 12 USC 2019; 12 USC 2071; 12 USC 2073; 12 USC 
2074; 12 USC 2075; 12 USC 2091; 12 USC 2093; 12 USC 2094; 12 USC 2096

CFR Citation:  12 CFR 611; 12 CFR 614; 12 CFR 618

Legal Deadline: None

Abstract: This rulemaking would provide additional flexibility for 
lending across geographical boundaries.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            11/09/98                    63 FR 60219
Comment Period Extension Notice 12/16/98                    63 FR 69229
NPRM Comment Period End         02/08/99
Comment Period End              05/10/99
Final Action                    09/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected] FOR FURTHER INFORMATION: 
http://www.fca.gov EMAIL: [email protected]

Agency Contact: S. Robert Coleman, Senior Policy Analyst, Office of 
Policy and Analysis, Farm Credit Administration, 1501 Farm Credit 
Drive, McLean, VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB87
_______________________________________________________________________


FARM CREDIT ADMINISTRATION (FCA)                       Final Rule Stage




_______________________________________________________________________




4087. LOAN POLICIES AND OPERATIONS; LEASING; GENERAL PROVISIONS; 
ACCOUNTING AND REPORTING REQUIREMENTS (LEASING AUTHORITIES)

Priority:  Other Significant

Legal Authority:  12 USC 2011; 12 USC 2013; 12 USC 2014; 12 USC 2015; 
12 USC 2017; 12 USC 2018; 12 USC 2019; 12 USC 2071; 12 USC 2073; 12 USC 
2074; 12 USC 2075; 12 USC 2091; 12 USC 2093; 12 USC 2094; 12 USC 2097

CFR Citation:  12 CFR 614; 12 CFR 616; 12 CFR 618; 12 CFR 621

Legal Deadline: None

Abstract: This rulemaking would develop comprehensive leasing 
regulations for all Farm Credit System institutions.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/15/97                    62 FR 53581
NPRM Comment Period End         12/15/97
Second NPRM                     10/23/98                    63 FR 56873
Second NPRM Comment Period End  12/07/98
Final Action                    06/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected]
FOR FURTHER INFORMATION: http://www.fca.gov
EMAIL: [email protected]

Agency Contact: John Hays, Policy Analyst, Office of Policy and 
Analysis, Farm Credit Administration, 1501 Farm Credit Drive, McLean, 
VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB63
_______________________________________________________________________




4088. FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND 
FUNDING OPERATIONS (INVESTMENT MANAGEMENT)

Priority:  Other Significant

Legal Authority:  12 USC 2013; 12 USC 2015; 12 USC 2018; 12 USC 2019; 
12 USC 2020; 12 USC 2073; 12 USC 2074; 12 USC 2075; 12 USC 2076; 12 USC 
2093; 12 USC 2122; 12 USC 2128; 12 USC 2132; 12 USC 2146; 12 USC 2154

CFR Citation:  12 CFR 615

Legal Deadline: None

Abstract: This rulemaking would clarify and revise the current 
investment management regulations taking into consideration petitions 
received to amend the regulations, safety and soundness and similar 
regulations established by other financial institution regulators.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/18/98                    63 FR 33281
NPRM Comment Period End         08/17/98
Final Action                    05/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected]
FOR FURTHER INFORMATION: http://www.fca.gov
EMAIL: [email protected]

Agency Contact: Laurie A. Rea, Senior Policy Analyst, Office of Policy 
and Analysis, Farm Credit Administration, 1501 Farm Credit Drive, 
McLean, VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB76


_______________________________________________________________________



[[Page 22263]]

4089. FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND 
FUNDING OPERATIONS (FCB ASSISTANCE TO ASSOCIATIONS)

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

Legal Authority:  12 USC 2013; 12 USC 2015; 12 USC 2018; 12 USC 2019; 
12 USC 2020; 12 USC 2073; 12 USC 2074; 12 USC 2075; 12 USC 2076; 12 USC 
2093; 12 USC 2122; 12 USC 2128; 12 USC 2132; 12 USC 2146; 12 USC 2154

CFR Citation:  12 CFR 615

Legal Deadline: None

Abstract: This rulemaking would clarify when Agency prior approval is 
needed for approval of financial assistance provided to associations by 
Farm Credit Banks and agricultural credit banks.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/18/99                     64 FR 8018
NPRM Comment Period End         03/22/99
Final Action                    08/00/99

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Paralegal Specialist, Regulation and Policy Division, Office of Policy 
and Analysis, 703-883-4498, [email protected]
FOR FURTHER INFORMATION: http://www.fca.gov
EMAIL: [email protected]

Agency Contact: Dale L. Aultman, Policy Analyst, Office of Policy and 
Analysis, Farm Credit Administration, 1501 Farm Credit Drive, McLean, 
VA 22102-5090
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB80
_______________________________________________________________________


FARM CREDIT ADMINISTRATION (FCA)                      Long-Term Actions




_______________________________________________________________________




4090. ORGANIZATION AND FUNCTIONS (FCA ORGANIZATION)

Priority:  Info./Admin./Other

CFR Citation:  12 CFR 600

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Patricia DiMuzio
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB82
_______________________________________________________________________




4091. STATEMENT ON REGULATORY BURDEN

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

CFR Citation:  12 CFR 600 to 650

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Notice of Intent                08/18/98                    63 FR 44176
Comment Period Extension Notice 11/18/98                    63 FR 64013


Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Eric Howard
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB85
_______________________________________________________________________


FARM CREDIT ADMINISTRATION (FCA)                      Completed Actions




_______________________________________________________________________




4092. ORGANIZATION (BALLOTING AND STOCKHOLDER RECONSIDERATION ISSUES)

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

CFR Citation:  12 CFR 611

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Action                    11/24/98                    63 FR 64841
Final Action Effective          02/11/99                     64 FR 6784

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Alan Markowitz
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB71
_______________________________________________________________________




4093. ORGANIZATION (FCS BOARD COMPENSATION LIMITS)

Priority:  Substantive, Nonsignificant

Reinventing Government: This rulemaking is part of the Reinventing 
Government effort. It will revise text in the CFR to reduce burden or 
duplication, or streamline requirements.

CFR Citation:  12 CFR 611

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Action                    04/06/99                    64 FR 16617

[[Page 22264]]

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Alan Markowitz
Phone: 703 883-4498
TDD: 703 883-4444
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB79
[FR Doc. 99-4914 Filed 04-23-99; 8:45 am]
BILLING CODE 6705-01-F
