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


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Part XLVIII





Farm Credit Administration





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Semiannual Regulatory Agenda

[[Page 23460]]



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 12 months following publication.

FOR FURTHER INFORMATION CONTACT: Cindy R. Nicholson, Technical Editor, 
Office of General Counsel, Farm Credit Administration, 1501 Farm Credit 
Drive, McLean, Virginia 22102, (703) 883-4125, TTY (703) 883-4020.

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, 
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 Executive Order 12866.

Dated: March 2, 2007.

 Roland E. Smith,

Secretary, Farm Credit Administration Board.

                                    Farm Credit Administration--Prerule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3385        Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations--        3052-AB92
            Investments in Rural America..........................................................
3386        Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations--        3052-AC25
            Capital Adequacy-Basel Accord.........................................................
3387        General Provisions; Financially and Farm-Related Services.............................    3052-AC30
3388        Borrower Rights; Lending Program Requirements.........................................    3052-AC31
3389        Disclosure to Shareholders; Accounting and Reporting Requirements; Disclosure to          3052-AC35
            Investors in System-Wide and Consolidated Bank Debt Obligations of the Farm Credit
            System................................................................................
----------------------------------------------------------------------------------------------------------------


                                 Farm Credit Administration--Proposed Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3390        Title IV Conservators, Receivers, and Voluntary Liquidations; Joint and Several           3052-AC16
            Liability--Priority of Claims.........................................................
3391        Eligibility and Scope of Financing--Scope of Lending; Moderately Priced Housing and       3052-AC20
            Related Issues........................................................................
3392        Federal Agricultural Mortgage Corporation Funding and Fiscal Affairs--Farmer Mac Risk-    3052-AC36
            Based Capital Model Revisions.........................................................
----------------------------------------------------------------------------------------------------------------


                                  Farm Credit Administration--Final Rule Stage
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3393        Eligibility and Scope of Financing--Processing and Marketing..........................    3052-AC33
----------------------------------------------------------------------------------------------------------------


                                  Farm Credit Administration--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3394        Disclosure to Shareholders; Accounting and Reporting Requirements--Disclosure and         3052-AC11
            Reporting Requirements................................................................
3395        Regulatory Burden.....................................................................    3052-AC15
3396        Federal Agricultural Mortgage Corporation--Farmer Mac Risk-Based Capital Standards....    3052-AC17
3397        Organization; Standards of Conduct; Loan Policies and Operations; Funding and Fiscal      3052-AC19
            Affairs, Loan Policies and Operations, and Funding Opers.; Gen. Provisions;
            Definitions; Disclosure to Shareholders...............................................
3398        Organization; Loan Policies and Operations; Termination of Farm Credit Status.........    3052-AC29
3399        Federal Agricultural Mortgage Corporation Business Planning...........................    3052-AC32

[[Page 23461]]

 
3400        Privacy Act Regulations; Information; Collection of Claims Owed the United States--       3052-AC34
            Privacy and Security Information......................................................
----------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


Farm Credit Administration (FCA)                          Prerule Stage


  



_______________________________________________________________________




3385. FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND 
FUNDING OPERATIONS--INVESTMENTS IN RURAL AMERICA

Priority: Other Significant

Legal Authority: 12 USC 2013; 12 USC 2015; 12 USC 2018 to 2020; 12 USC 
2073 to 2076; 12 USC 2093; 12 USC 2122; 12 USC 2128; 12 USC 2132; 12 
USC 2146; 12 USC 2154; 12 USC 2154a; 12 USC 2160; 12 USC 2202b; 12 USC 
2211; 12 USC 2243; 12 USC 2252; 12 USC 2278b; 12 USC 2278b-6; 12 USC 
2279aa; 12 USC 2279aa-3; 12 USC 2279aa-4; 12 USC 2279aa-6 to 2279aa-8; 
12 USC 2279aa-10; 12 USC 2279aa-12

CFR Citation: 12 CFR 615

Legal Deadline: None

Abstract: This review would evaluate how System partnerships and 
investments could help increase the availability of funds to 
agriculture and rural America.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Begin Review                    03/15/04
End Review                      09/30/04
Begin Review                    12/04/06
End Review                      09/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Laurie A. Rea, Associate Director, Office of Regulatory 
Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 
22102-5090
Phone: 703 883-4498
TDD Phone: 703 883-4434
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AB92
_______________________________________________________________________




3386. FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND 
FUNDING OPERATIONS--CAPITAL ADEQUACY-BASEL ACCORD

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

Legal Authority: 12 USC 2013; 12 USC 2015; 12 USC 2018 to 2020;

CFR Citation: 12 CFR 615

Legal Deadline: None

Abstract: This review would review other Federal banking agencies' 
Basel II and Basel IA proposals on capital adequacy and consider 
appropriate changes to FCA capital adequacy requirements for the 
System.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Begin Review                    11/01/04
End Review                      04/30/07
ANPRM                           05/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Wade Wynn, Financial Analyst, Office of Regulatory 
Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 
22102-5090
Phone: 703 883-4498
TDD Phone: 703 883-4434
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC25
_______________________________________________________________________




3387. GENERAL PROVISIONS; FINANCIALLY AND FARM-RELATED SERVICES

Priority: Other Significant

Legal Authority: 12 USC 2013; 12 USC 2019 to 2020; 12 USC 2073;

CFR Citation: 12 CFR 618

Legal Deadline: None

Abstract: This rulemaking would consider regulatory changes to address 
the System's (1) Financing for farm-related services businesses, and 
(2) providing related services to members consistent with statutory 
authority.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Begin Review                    04/30/06
End Review                      09/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

[[Page 23462]]

Agency Contact: Barry Mardock, Associate Director, Office of Regulatory 
Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 
22102
Phone: 703 883-4498
Fax: 703 883-5784
Email: [email protected]

RIN: 3052-AC30
_______________________________________________________________________




3388. BORROWER RIGHTS; LENDING PROGRAM REQUIREMENTS

Priority: Other Significant

Legal Authority: 12 USC 2199; 12 USC 2200 to 2202;

CFR Citation: 12 CFR 617

Legal Deadline: None

Abstract: This rulemaking would review existing statutory and 
regulatory requirements and consider appropriate policy guidance on 
lending programs that System institutions are authorized to offer their 
customers, including appropriate underwriting criteria.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Begin Review                    04/30/06
End Review                      09/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Barry Mardock, Associate Director, Office of Regulatory 
Policy, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 
22102
Phone: 703 883-4498
Fax: 703 883-5784
Email: [email protected]

RIN: 3052-AC31
_______________________________________________________________________




3389. DISCLOSURE TO SHAREHOLDERS; ACCOUNTING AND REPORTING REQUIREMENTS; 
DISCLOSURE TO INVESTORS IN SYSTEM-WIDE AND CONSOLIDATED BANK DEBT 
OBLIGATIONS OF THE FARM CREDIT SYSTEM

Priority: Other Significant

Legal Authority: 12 USC 2252; 12 USC 2254; 12 USC 2279aa-11

CFR Citation: 12 CFR 620 to 621; 12 CFR 630

Legal Deadline: None

Abstract: This rulemaking would review the existing regulations on 
accounting and disclosure to shareholders and investors for needed 
updates, including conforming changes, and consider other appropriate 
changes.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Begin Review                    01/08/07
End Review                      04/30/07
NPRM                            11/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Thomas Dalton, Senior Staff Accountant, Office of 
Regulatory Policy, Farm Credit Administration, 1501 Farm Credit Drive, 
McLean, VA 22102
Phone: 703 883-4498
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC35
_______________________________________________________________________


Farm Credit Administration (FCA)                    Proposed Rule Stage


  



_______________________________________________________________________




3390. TITLE IV CONSERVATORS, RECEIVERS, AND VOLUNTARY LIQUIDATIONS; 
JOINT AND SEVERAL LIABILITY--PRIORITY OF CLAIMS

Priority: Other Significant

Legal Authority: 12 USC 2183; 12 USC 2243 to 2244; 12 USC 2252; 12 USC 
2277a;

CFR Citation: 12 CFR 627

Legal Deadline: None

Abstract: This rulemaking would respond to a regulatory petition from 
System banks to change the priority of claims under their joint and 
several obligations for debt issuances and review the priority of 
claims under their financing agreement with associations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Begin Review                    04/25/03
End Review                      03/31/05
NPRM                            03/12/07                    72 FR 10939
NPRM Comment Period End         05/11/07
Final Rule                      08/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Christopher Wilson, Policy Analyst, Farm Credit 
Administration, 1501 Farm Credit Drive, McLean, VA 22102
Phone: 703 883-4498
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC16
_______________________________________________________________________




3391. ELIGIBILITY AND SCOPE OF FINANCING--SCOPE OF LENDING; MODERATELY 
PRICED HOUSING AND RELATED ISSUES

Priority: Other Significant

Legal Authority: 12 USC 2013; 12 USC 2015; 12 USC 2017 to 2019;

CFR Citation: 12 CFR 613

[[Page 23463]]

Legal Deadline: None

Abstract: This rulemaking would revise regulations governing 
eligibility and scope of lending for farmers and ranchers and how 
``moderately priced'' rural housing limits are determined.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

ANPRM                           05/02/03                    68 FR 23425
Public Hearing                  05/02/03                    68 FR 23425
Comment Period Extended         07/29/03                    68 FR 44490
ANPRM Comment Period End        07/31/03
Comment Period Extended End     10/29/03
NPRM                            07/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Walter Gardiner, Senior Economist, Farm Credit 
Administration, 1501 Farm Credit Drive, McLean, VA 22102
Phone: 703 883-4498
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC20
_______________________________________________________________________




3392. FEDERAL AGRICULTURAL MORTGAGE CORPORATION FUNDING AND FISCAL 
AFFAIRS--FARMER MAC RISK-BASED CAPITAL MODEL REVISIONS

Priority: Other Significant

Legal Authority: 12 USC 2183; 12 USC 2243; 12 USC 2252; 12 USC 2279aa-
11;

CFR Citation: 12 CFR 652

Legal Deadline: None

Abstract: This rulemaking would revise the Farmer Mac Risk-Based 
Capital Stress Test to better accommodate the terms and structure of 
certain program business underwritten by Farmer Mac.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            07/00/07
NPRM Comment Period End          To Be                       Determined

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Joe Connor, Associate Director for Policy and Analysis, 
Office of Secondary Market Oversight, Farm Credit Administration, 1501 
Farm Credit Drive, McLean, VA 22102
Phone: 703 883-4364
Fax: 703 790-3260
Email: [email protected]

RIN: 3052-AC36
_______________________________________________________________________


Farm Credit Administration (FCA)                       Final Rule Stage


  



_______________________________________________________________________




3393. ELIGIBILITY AND SCOPE OF FINANCING--PROCESSING AND MARKETING

Priority: Other Significant

Legal Authority: 12 USC 2013; 12 USC 2015; 12 USC 2017 to 2018;

CFR Citation: 12 CFR 613

Legal Deadline: None

Abstract: This rulemaking would change the ownership requirement for 
eligibility of processing and marketing entities.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            10/16/06                    71 FR 60678
NPRM Comment Period End         12/15/06
NPRM Comment Period Reopened    01/11/07                     72 FR 1300
NPRM Reopening Comment Period 
End                             02/26/07
Final Rule                      07/00/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Additional Information: FEDERAL REGISTER LIAISON: Cindy R. Nicholson, 
Technical Editor, Office of General Counsel, (703) 883-4125, 
[email protected]

URL For More Information:
www.fca.gov

URL For Public Comments:
www.fca.gov

Agency Contact: Michael Duffy, Policy Analyst, Farm Credit 
Administration, 1501 Farm Credit Drive, McLean, VA 22102
Phone: 703 883-4498
Fax: 703 883-4477
Email: [email protected]

RIN: 3052-AC33

[[Page 23464]]

_______________________________________________________________________


Farm Credit Administration (FCA)                      Completed Actions


  



_______________________________________________________________________




3394. DISCLOSURE TO SHAREHOLDERS; ACCOUNTING AND REPORTING REQUIREMENTS-
-DISCLOSURE AND REPORTING REQUIREMENTS

Priority: Other Significant

CFR Citation: 12 CFR 620; 12 CFR 621

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Rule                      12/20/06                     71 FR 7611
Final Rule Effective            02/22/07                     72 FR 7927

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Thomas Dalton
Phone: 703 883-4498
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC11
_______________________________________________________________________




3395. REGULATORY BURDEN

Priority: Substantive, Nonsignificant

CFR Citation: 12 CFR 600 to 655

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Rule                      11/08/06                    71 FR 65383
Final Rule Effective            02/07/07                     72 FR 5606

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Jacqui Melvin
Phone: 703 883-4498
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC15
_______________________________________________________________________




3396. FEDERAL AGRICULTURAL MORTGAGE CORPORATION--FARMER MAC RISK-BASED 
CAPITAL STANDARDS

Priority: Other Significant

CFR Citation: 12 CFR 652; 12 CFR 655

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Rule                      12/26/06                    71 FR 77247
Final Rule Effective            04/03/07                    72 FR 15812

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Joe Connor
Phone: 703 883-4364
Fax: 703 790-3260
Email: [email protected]

RIN: 3052-AC17
_______________________________________________________________________




3397. ORGANIZATION; STANDARDS OF CONDUCT; LOAN POLICIES AND OPERATIONS; 
FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING 
OPERS.; GEN. PROVISIONS; DEFINITIONS; DISCLOSURE TO SHAREHOLDERS

Priority: Other Significant

CFR Citation: 12 CFR 611 to 612; 12 CFR 614 to 615; 12 CFR 618 to 620; 
12 CFR 630

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Correcting Amendment            01/31/07                     72 FR 4414
Delayed Effective Date          04/05/07                    72 FR 16699

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Tong--Ching Chang
Phone: 703 883-4498
TDD Phone: 703 883-4434
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC19
_______________________________________________________________________




3398. ORGANIZATION; LOAN POLICIES AND OPERATIONS; TERMINATION OF FARM 
CREDIT STATUS

Priority: Other Significant

CFR Citation: 12 CFR 611; 12 CFR 614

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Rule Effective            01/11/07                     72 FR 1276

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Thomas Dalton
Phone: 703 883-4498
Fax: 703 734-5784
Email: [email protected]

RIN: 3052-AC29
_______________________________________________________________________




3399. FEDERAL AGRICULTURAL MORTGAGE CORPORATION BUSINESS PLANNING

Priority: Substantive, Nonsignificant

CFR Citation: Not Yet Determined

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Withdrawn                       02/26/07

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Joe Connor
Phone: 703 883-4364
Fax: 703 790-3260
Email: [email protected]

RIN: 3052-AC32
_______________________________________________________________________




3400. PRIVACY ACT REGULATIONS; INFORMATION; COLLECTION OF CLAIMS OWED 
THE UNITED STATES--PRIVACY AND SECURITY INFORMATION

Priority: Info./Admin./Other

CFR Citation: 12 CFR 603; 12 CFR 605; 12 CFR 608

Completed:
________________________________________________________________________

Reason                            Date                      FR Cite

________________________________________________________________________

Final Rule Effective            01/29/07                     72 FR 3925

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Robert Taylor
Phone: 703 883-4020
Fax: 703 790-0052
Email: [email protected]

RIN: 3052-AC34
[FR Doc. 07-01256 Filed 04-27-07; 8:45 am]
BILLING CODE 6705-01-S
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