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Entreprise · 23/04/20261 min de lecture

Assessment and Apportionment of Administrative Expenses

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Résumé

The Farm Credit Administration (FCA, we, or Agency) seeks comments on this proposed rule to amend the regulations that implement provisions of the Act relating to assessments. The Farm Credit Act of 1971, as amended (Act) requires FCA to apportion the amount of the assessments among the System institutions on a basis that the agency determines to be equitable. We propose to revise the assessment formula to account for the size and structure of the System as it exists today and to bring the assessment formula closer to the degree of proportionality that existed when the rule became effective. The proposed changes would reapportion the total assessment among individual System banks and associations to further support cooperative and System principles. The proposed changes impact FCA's current assessment of System banks and associations and do not impact FCA's assessment of other System and non-System entities outlined in Part 607. The proposed changes also do not impact FCA's annual administrative expenses or budget.

Langue originale de la source: Federal Register — Farm Credit AdministrationOuvrir le communiqué original →

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Entreprise · 29/11/2024

Internal Control Over Financial Reporting

The Farm Credit Administration (FCA, we, or Agency) is seeking comments on this proposed rule to amend the reporting regulations to require Farm Credit System (System) associations that meet certain asset thresholds or conditions, as well as all System banks, to obtain annual attestation reports from their external auditors that express an opinion on the effectiveness of internal control over financial reporting (ICFR), are made in accordance with generally accepted auditing standards (GAAS) as promulgated by the American Institute for Certified Public Accountants ("AICPA") or the Public Company Accounting Oversight Board's ("PCAOB") auditing standards, and accompany management's assessment and be included with the System Institution's annual report (these attestation reports are hereinafter referred to as "Attestation Reports"). The proposed rule would also require Attestation Reports obtained by the Federal Farm Credit Banks Funding Corporation (Funding Corporation) be made in accordance with GAAS.

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Entreprise · 06/09/2024

Loans to Similar Entities

The Farm Credit Administration (FCA, our, or we) issues this advanced notice of proposed rulemaking (ANPRM), so interested members of the public may have the opportunity to provide input on how FCA should amend pivotal aspects of its similar entity lending regulations. More specifically, we are focusing on whether and how these regulations could better implement statutory provisions requiring similar entities to engage in activities that are "functionally similar" to the activities of eligible borrowers. We also seek comments about how FCA can ensure that our similar entity regulations are more closely aligned with the Farm Credit System's (FCS or System) statutory mission to serve agriculture, aquaculture, and specific activities in rural America. Additionally, we request comments pertaining to the determination of whether an entity, or entities within a corporate family can simultaneously qualify as both an eligible borrower and similar entity, as well as on the use of "other extensions of credit" and "other technical and financial assistance" within the similar entity lending authority. We intend to use the comments that we receive from this ANPRM to craft a proposed rule to enh

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Entreprise · 03/06/2026

Privacy Act of 1974; System of Records

Pursuant to the provisions of the Privacy Act of 1974, as amended (5 U.S.C. 552a), notice is given that the Farm Credit Administration (FCA or Agency) is modifying language under the Policies and Practices for Storage of Records and the Administrative, Technical, and Physical Safeguards sections for the systems of records identified in the list below. The amended sections outlined in this notice reflect non-substantive changes to existing FCA SORNs. The changes to the Policies and Practices for Storage of Records and the Administrative, Technical, and Physical Safeguards sections of the included SORNs reflect FCA's transition from legacy paper records to electronic records in accordance with guidance provided by the National Archives and Records Administration. Transitioning from paper to electronic records in the referenced systems of records does not modify or otherwise impact "the process by which individuals can exercise their rights under the statute" or "create substantially greater access to" information in the systems. However, in the interest of transparency, the Agency is providing notice of these changes to the included systems of records.

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Entreprise · 27/02/2026

Permanent Capital Revisions

The Farm Credit Administration (FCA or we) requests comments on a proposed rule for Farm Credit System (System) banks and associations that would reduce the burden of calculating permanent capital and minimize potential confusion about its use in evaluating the safety and soundness of System institutions. Specifically, the proposed rule would remove references to permanent capital in shareholder and investor reporting regulations as well as in certain other regulations. It would also simplify the calculation of the permanent capital ratio and make other clarifications, corrections, and updates to capital-related regulations.

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Entreprise · 11/12/2023

Cyber Risk Management

The Farm Credit Administration (FCA, we, or our) rescinds and revises its regulations to reflect developments in cyber risk and continuously evolving business practices. We rename the regulations "Cyber Risk Management." The final rule requires each Farm Credit System (System or FCS) institution to implement a comprehensive, written cyber risk management program consistent with the size, risk profile, and complexity of the institution's operations.

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Entreprise · 26/08/2026

Loan Performance Categories and Financial Reporting

The Farm Credit Administration (FCA, we, or our) amends our regulatory high-risk loan performance categories by removing "Formally restructured loans (TDR)," also known as troubled debt restructurings. In 2022, changes in generally accepted accounting principles (GAAP) eliminated the accounting guidance for TDRs, enhanced disclosure requirements for certain loan refinancings and restructurings undertaken when a borrower is experiencing financial difficulty and changed existing vintage year disclosure requirements for public business entities. This final rule removes TDRs from our regulatory loan performance categories to reflect changes in GAAP. Because FCA regulations require Farm Credit System (System) institutions to prepare financial statements and reports in accordance with GAAP, retaining TDRs as a regulatory loan performance category is no longer consistent with current accounting standards. In addition to making conforming technical changes, the rule also makes minor technical and organizational revisions to ensure internal consistency within the regulation. In addition, FCA determined that no regulatory amendments are necessary to implement GAAP's enhanced disclosure requi

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