Conservators and Receivers

Resumo

The Farm Credit Administration (FCA, we, our) is adopting a final rule that updates, restructures, and reorganizes our regulations that govern the appointment of the Farm Credit System Insurance Corporation (FCSIC) as the conservator or receiver of Farm Credit System (FCS or System) banks, associations, service corporations, and the Federal Farm Credit Banks Funding Corporation (Funding Corporation). The final rule also ensures FCA conservatorship and receivership regulations are consistent with the Agricultural Improvement Act of 2018 (2018 Farm Bill), which strengthens, updates, and clarifies FCSIC's powers as the conservator or receiver of these FCS institutions. Additionally, the final rule consolidates and reorganizes our conservatorship and receivership regulations, so they are easier to understand and use. We also made conforming amendments to definitional regulations to clarify that bridge System banks, while subject to FCA supervision and oversight, are not subject to FCA regulations that apply to other System institutions. We revised these definitions because several provisions of the Farm Credit Act expressly exempt bridge banks from certain legal requirements that apply