(McLean, Va) -The Farm Credit Administration board approved a final rule on conservatorship and receivership.
The final rule will amend and reorganize regulations in 12 CFR part 627, which governs conservatorships and receiverships. The rule implements provisions of the 2018 Farm Bill concerning FCA’s appointment of the Farm Credit System Insurance Corporation (FCSIC) as the conservator or receiver of any distressed System institution except the Federal Agricultural Mortgage Corporation.
The changes make the regulations easier for System institutions, FCA examiners, and others to understand and use. The final rule also excludes bridge System banks from certain regulations that apply to all other System institutions.
