Rules and Regulations. Notice of intent; request for comment

Agency: Farm Credit Administration
Action: Notice of intent; request for comment
Citation: 82 FR (No. 95) · FR Doc. 2017-10053 · RIN 3052-AD24

Summary

The Farm Credit Administration (FCA, our, or we) issues this announcement to consider whether our existing regulations are ineffective or burdensome. We seek public comment on the appropriateness of the requirements we impose on Farm Credit System (System) institutions, including the Federal Agricultural Mortgage Corporation (Farmer Mac). We ask for comments on our regulations that may duplicate other requirements, are ineffective, are not based on law, or impose burdens that are greater than the benefits received.

Dates

Please send your comments to FCA by August 16, 2017.

Supplementary Information

I. Objective The objective of this announcement is to continue our comprehensive review of regulations governing the System and to eliminate, consistent with law and safety and soundness, all regulations that are unnecessary, unduly burdensome or costly, or not based on the law. We request public comment on FCA regulations that were effective prior to December 31, 2016, and are not currently on our Unified Agenda as a Notice of Proposed Rulemaking or Advance Notice of Proposed Rulemaking; and • May duplicate other requirements; • Are ineffective; • Are not based on law; or • Impose burdens that are greater than the benefits received. II. Background FCA is an independent Federal agency in the executive branch of the Government responsible for examining and regulating System institutions. System banks and associations primarily provide loans to farmers, ranchers, aquatic producers and harvesters, agricultural cooperatives, and rural utilities. Farmer Mac provides a secondary market for agricultural and rural housing mortgages and eligible rural utility cooperative loans. III. Our Continuing Efforts To Reduce Unnecessary Regulatory Burdens As stated in section 212 of the Farm Credit System Reform Act of 1996, “The Farm Credit Administration shall continue the comprehensive review of regulations governing the Farm Credit System to identify and eliminate, consistent with law, safety, and soundness, all regulations that are unnecessary, unduly burdensome or costly, or not based on law.” This review is consistent with Presidential Executive Order (E.O.) 13771, dated January 30, 2017, on Reducing Regulations and Controlling Regulatory Costs, although the E.O. does not apply to independent regulatory agencies including FCA. The regulations of FCA that are subject to regulatory review described in this notice are codified in title 12, chapter VI, of the Code of Federal Regulations. We are requesting your comments on any FCA regulations or policies that may duplicate other governmental requirements, are not effective in achieving stated objectives, are not based on law, or create a burden that is perceived to be greater than the benefits received. Please do not respond to this solicitation with comments concerning proposed regulations that are currently under review, or final regulations that did not become effective until after December 31, 2016. Your comments will assist us in our continuing efforts to identify and reduce unnecessary regulatory burdens on System institutions. We will also continue our efforts to maintain and adopt regulations and policies that are necessary to implement the Farm Credit Act of 1971, as amended, and ensure the safety and soundness of the System. These actions will enable the System institutions to better serve the credit needs of America's farmers, ranchers, aquatic producers and harvesters, cooperatives, and rural residents, in the changing agricultural credit markets. Dated: May 15, 2017. Dale L. Aultman, Secretary, Farm Credit Administration Board. [FR Doc. 2017-10053 Filed 5-17-17; 8:45 am]