[April 30, 2007 (Volume 72, Number 82)] [Unified Agenda] From the Federal Register Online via GPO Access [frwais.access.gpo.gov] [DOCID: f:ua070448.wais] [Page 23460-23464] Farm Credit Administration ----------------------------------------------------------------------- Part XLVIII ----------------------------------------------------------------------- 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, nicholsonc@fca.gov 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: real@fca.gov 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, nicholsonc@fca.gov 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: wynnw@fca.gov 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, nicholsonc@fca.gov 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: mardockb@fca.gov 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, nicholsonc@fca.gov 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: mardockb@fca.gov 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, nicholsonc@fca.gov 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: daltont@fca.gov 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, nicholsonc@fca.gov 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: wilsonc@fca.gov 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, nicholsonc@fca.gov 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: gardinerw@fca.gov 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, nicholsonc@fca.gov 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: connorj@fca.gov 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, nicholsonc@fca.gov 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: duffym@fca.gov 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: daltont@fca.gov 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: melvinj@fca.gov 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: connorj@fca.gov 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: changt@fca.gov 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: daltont@fca.gov 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: connorj@fca.gov 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: taylorr@fca.gov RIN: 3052-AC34 [FR Doc. 07-01256 Filed 04-27-07; 8:45 am] BILLING CODE 6705-01-S