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Return to Comments
Assessment and Apportionment of Administrative Expenses
Type: Regulation
Federal Register Document Type: Proposed
Description:
Amend FCA regulations to update the apportionment of FCA administration assessments among Farm Credit System (System) banks and associations to address the System’s composition as it exists today and make two technical revisions to remove two references to entities that no longer exist.


Text of Comment Letter

June 16, 2026

 

Autumn R. Agans, Deputy Director

Office of Regulatory Policy

Farm Credit Administration

1501 Farm Credit Drive

McLean, Virginia 22102-5090

 

 

RE:        Response to Proposed Rule & Request for Comment – Assessment and Apportionment of Administrative Expenses, 12 CFR Part 607

 

Dear Ms. Agans:

 

Farm Credit of the Virginias appreciates the opportunity to comment on Farm Credit Administration’s (“FCA”) proposed rule on Assessment and Apportionment of Administrative Expenses, published in the Federal Register on April 23, 2026 (the “Proposed Rule”). The Proposed Rule would revise the formula used to apportion FCA administrative expenses among System banks and associations.

The Farm Credit Council (“FCC”) has submitted a comment letter on behalf of the Farm Credit System reflecting principles developed through a System workgroup that included representatives from each System bank and associations of varying sizes. 

Farm Credit of the Virginias strongly supports the Proposed Rule, which is necessary and appropriate due to the changes that have occurred in the Farm Credit System since the current assessment formula was implemented in 1993.  Smaller and mid-sized associations have borne an increasing and disproportionate amount of the total assessment relative to their sizes for many years.  The Proposed Rule will reasonably return the assessment formula to a similar proportionality that existed in 1993, correcting the imbalance in how assessments are allocated and restoring equitability. 

 

Farm Credit of the Virginias commends FCA for its thorough and thoughtful review of its assessment methodology and for proposing a rule that is faithful to the Act’s mandate that assessments be apportioned equitably.  Farm Credit of the Virginias encourages FCA to finalize the Proposed Rule as submitted.

 

Thank you for the opportunity to comment.

 

Respectfully,

Pete Cypret

Chief Executive Officer

Farm Credit of the Virginias

 

 

Pete Cypret – Chief Executive Officer | Farm Credit of the Virginias

102 Industry Way | Staunton, VA 24401

Cell: 540.480.6860 | Office: 540.248.0294 Ext. 5041

PCypret@FCVirginias.com | FarmCreditofVirginias.com

Farm Credit Knowledge Center – Educational resources and opportunities

 

 

 

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