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While the statute establishes the Funding Corporation and outlines some of its duties, it also specifies that the Farm Credit Administration has the power to give approval to the terms and conditions of participation by the banks. The statute thus provides a specific regulatory task to FCA.

The statute authorizes the Farm Credit Administration to approve the terms and conditions determined by the Corporation regarding the obligations of the banks of the Farm Credit System. This implies that the statute authorizes the Farm Credit Administration to regulate in this area, but does not directly mandate specific regulations.

The statute (12 U.S. Code § 2154a) specifically addresses the capitalization of System institutions, defining “permanent capital,” requiring the adoption of bylaws related to capitalization, establishing requirements for those bylaws, and authorizing the Farm Credit Administration to issue directives to ensure compliance. This level of detail points toward a specific regulatory task being delegated, even with the use of terms like “appropriate,” linking it to Hickman’s Specific Authority Delegation category.

12 U.S. Code § 2154a is listed explicitly in the Authority section of 12 CFR Part 615. This indicates that the statute directly mandates the regulation, or at a minimum, the agency and regulation view it as directly mandated.

The statute delegates broad authority to the Farm Credit Administration (FCA) to regulate the Farm Credit System. While 12 U.S.C. § 2154a specifically addresses capitalization, the authority for leasing regulations stems from the general rulemaking authority provided throughout the Farm Credit Act, as indicated by the numerous sections listed in the “Authority” section of the regulation. The statute provides specific requirements for bylaws governing capitalization, but it does not directly instruct the agency to regulate leasing practices, policies, procedures, or set underwriting standards.

While 12 U.S.C. § 2154a addresses capitalization of System institutions and impacts financial stability, which could be indirectly related to leasing, Part 616 specifically deals with leasing activities. The statute doesn’t directly mandate specific leasing regulations, but it authorizes FCA to issue regulations governing the operations of Farm Credit System institutions, which would include leasing. The “Authority” section of 12 CFR 616 lists Sec. 4.3A of the Farm Credit Act (12 U.S.C. 2154a) as one of the bases for the regulations. However, this mainly concerns the definition of permanent capital. It is more the overall enabling authority, which allows for but does not directly mandate the regulation.

The statute clearly instructs the Farm Credit Administration on specific requirements regarding the capitalization of System institutions, dictating the adoption of bylaws that address specific criteria related to stock issuance, transfer, retirement, dividends, and capital adequacy. It also grants the FCA the authority to issue directives to ensure compliance with provisions concerning the reduction of capital. This is specific authority, even if some terms used may seem open ended.

12 U.S. Code § 2154a is explicitly listed as an authority for 12 CFR Part 620. This indicates a direct mandate, as the statute is foundational to the regulation.

While 12 U.S. Code § 2154a uses terms like “appropriate” in defining what constitutes permanent capital, it also lays out specific requirements for capitalization of System institutions, adoption of bylaws, classes of stock, the issuance, transfer, and retirement of stock, payment of dividends, loan origination fees, enabling capital adequacy standards, the issuance of voting stock, conditions of borrowing, transferability, and reduction of capital.

12 U.S. Code § 2154a is explicitly listed as an authority for 12 CFR Part 628. Furthermore, subsection (c)(1)(C) requires that institution bylaws “shall enable the institution to meet the capital adequacy standards established under the regulations issued under section 2154(a) of this title.” This makes the relationship directly mandated.

While the statute provides some discretion to the Comptroller, it primarily instructs the agency on the specific task of approving or disapproving bank mergers. It sets out requirements for the merger agreement, shareholder approval, and appraisal of shares for dissenting shareholders. These detailed instructions place it in the Specific Authority category.

12 U.S.C. § 215a is listed in the authority section for 12 CFR Part 25, indicating that the statute is authorized but not mandated. The statute grants the Comptroller the power to approve bank mergers, and the regulation likely provides further details on how the Comptroller exercises this power and what is required of banks.

The statute clearly instructs the Farm Credit Administration to establish minimum capital levels for System institutions. While there is some discretion given to the agency regarding the methods it uses and the specific levels it sets, the delegation is for a specific regulatory task, aligning with the definition of a Specific Authority Delegation. The statute uses terms like “appropriate” and “necessary”, which Hickman acknowledges can still constitute specific authority delegations.

12 U.S.C. § 2154(a) states “The Farm Credit Administration shall cause System institutions to achieve and maintain adequate capital by establishing minimum levels of capital for such System institutions”. This language directly mandates the Farm Credit Administration to establish minimum capital levels, so the regulations are directly mandated by the statute.

The statute directs the Farm Credit Administration to establish “minimum levels of capital” for System institutions and allows the agency to use “such other methods as the Farm Credit Administration deems appropriate.” This is a specific regulatory task with an open ended term (“appropriate”). Therefore, it falls under the Specific Authority Delegation.

12 U.S.C. § 2154(a) states that “The Farm Credit Administration shall cause System institutions to achieve and maintain adequate capital by establishing minimum levels of capital…”. This language directly mandates the agency to establish regulations regarding minimum capital levels.

The statute specifically instructs the Farm Credit Administration to “cause System institutions to achieve and maintain adequate capital by establishing minimum levels of capital for such System institutions and by using such other methods as the Farm Credit Administration deems appropriate.” While the statute uses open-ended terms like “appropriate” and “necessary,” it clearly tasks the agency with a specific regulatory function: ensuring capital adequacy through specific tools such as setting capital levels. This aligns with Hickman’s description of Specific Authority Delegations.

The statute (12 U.S. Code § 2154(a)) directly mandates the Farm Credit Administration to establish minimum levels of capital for System institutions and use other methods as it deems appropriate to ensure adequate capital. The regulation (12 CFR Part 624) implements this mandate by setting forth specific margin and capital requirements for covered swap entities, which directly contributes to maintaining adequate capital within those institutions.

The statute directs the agency to establish minimum capital levels using specific methods and addressing a specific gap. Even though the statute grants some discretion using terms like “appropriate,” the regulatory task is clearly defined, satisfying the criteria for Specific Authority Delegation.

12 U.S.C. § 2154(a) states “The Farm Credit Administration shall cause System institutions to achieve and maintain adequate capital by establishing minimum levels of capital for such System institutions and by using such other methods as the Farm Credit Administration deems appropriate.” This is a direct mandate. The regulation 12 CFR Part 628 implements these directives.

While the statute does grant the Farm Credit Administration authority to determine what debt or equity instruments are appropriate to be considered permanent capital, it does so within the specific context of defining and regulating the capitalization of System institutions. The directive authority in subsection (e) is linked to compliance with subsection (d), concerning the reduction of capital. These are specific regulatory tasks.

12 U.S. Code § 2154a is listed in the authority section of 12 CFR Part 611, indicating a direct mandate to regulate the capitalization of System institutions.

The statute, specifically subsection (b) concerning the rights of dissenting stockholders, grants the Comptroller of the Currency the authority to conduct reappraisals of shares if the initial valuation is disputed or if the appraisers fail to determine the value within a specified timeframe. This constitutes a specific regulatory task, involving appraisal and dispute resolution, giving the Comptroller specific instructions.

12 U.S.C. § 214a is explicitly listed in the “Authority” section of 12 CFR Part 5. This indicates a direct mandate for the regulation, as the statute is cited as the basis for the rules, policies, and procedures outlined in the regulation.

The statute provides the Comptroller with the power to approve bank consolidations, setting forth specific requirements regarding shareholder approval, appraisal of shares, and other conditions. The statute gives the Comptroller a specific regulatory task to oversee and approve bank consolidations, and it uses open ended terms such as “approval”.

12 U.S.C. § 215 is listed in the authority section of 12 CFR Part 25, indicating that the regulation is authorized by the statute. However, the statute does not directly mandate the specific regulations contained within 12 CFR Part 25; it allows for regulations regarding bank consolidations, and the regulation covers broader topics.

While the statute does not prescribe precise rulemaking, it gives the Comptroller very specific authority to review and approve consolidations. This is unlike a general mandate to “regulate banks” in any way the agency deems fit, but instead is tethered to banks that seek to consolidate and requires the agency to make a decision. Although the language is broad (“such terms and conditions as may be lawfully agreed upon”), it operates within the bounds of a specific activity, which places it under “Specific Authority Delegations” per Hickman.

12 U.S.C. § 215 authorizes the Comptroller to approve bank consolidations. While the statute outlines the conditions and procedures for such consolidations, it does not mandate specific regulations. The regulation (12 CFR Part 5) implements and elaborates on these statutory provisions, providing detailed rules and procedures for various corporate activities, including those related to bank consolidation under the Comptroller’s purview.

The statute empowers the Farm Credit Administration to regulate the banks’ borrowing and issuance of debt obligations. While the term “regulation” is broad, the statute specifies a particular area of activity (borrowing and issuing obligations) to be regulated. The statute provides the “power” to the banks to perform a list of financial actions. All of those actions are “subject to regulation by the Farm Credit Administration”. This is not a blanket authority, rather, it’s tied to the banks actions listed.

The statute, 12 U.S.C. § 2153, explicitly states that the Farm Credit banks shall have power to borrow and issue obligations “subject to regulation by the Farm Credit Administration”. This directly mandates a regulatory relationship.

The statute clearly instructs the Farm Credit Administration to establish minimum capital adequacy standards, including specifying ratios and considering risk factors. It provides specific regulatory tasks.

The statute explicitly directs the Farm Credit Administration to establish minimum capital levels for System institutions and use other appropriate methods to ensure adequate capital. This is a direct mandate.

While the statute uses the permissive “may consider,” it does specify a potential action (creating regional service centers) linked to a defined trigger (“loan portfolio is concentrated”). This directs the agency toward a specific area of regulation (financing and service delivery based on loan concentration), making it more specific than a purely general delegation.

12 U.S.C. § 2143 is cited as authority for 12 CFR Part 613. The statute provides the board of directors of a consolidated bank the discretion to “consider” creating regional service centers under certain conditions, implying that the agency is authorized, but not mandated, to act via regulation. The regulation appears to implement and expand upon the general financing provisions related to Title III banks, aligning with the statute’s focus.

The statute, while not incredibly detailed, specifically instructs the Farm Credit Administration to regulate the capitalization of consolidated banks and the manner in which bank stock shall be issued, held, transferred, retired, and bank earnings distributed. This goes beyond simply providing broad rulemaking authority and identifies a specific area for regulation.

The statute explicitly states that each consolidated bank shall provide for capitalization “subject to Farm Credit Administration regulations.” This directly mandates the creation of regulations by the Farm Credit Administration regarding capitalization.

The statute specifically directs the Farm Credit Administration to regulate the capitalization of consolidated banks and the manner in which bank stock shall be issued, held, transferred, and retired, and bank earnings distributed. While the statute uses terms like “subject to,” it clearly identifies the regulatory task related to capitalization.

The statute, 12 U.S. Code § 2146, explicitly states that the consolidated bank shall provide for its capitalization “subject to Farm Credit Administration regulations.” This clearly indicates a direct mandate for the agency to issue regulations on the specified subject matter of capitalization, issuance, holding, transferring and retiring stock and distributing earnings.

While the Farm Credit Act broadly empowers the FCA, 12 U.S.C. § 2149 is more targeted. It doesn’t just grant general power to regulate lending; it carves out a specific restriction on that power, namely that new lending limits cannot be stricter than old ones. This qualifies as a specific instruction limiting the agency’s regulatory scope, even though it uses the term “may not” rather than directing a positive action. It directly focuses on a specific regulatory gap or concern: potential overreach in setting lending limits.

The statute 12 U.S.C. § 2149 specifically restricts the Farm Credit Administration’s authority by limiting its ability to establish lending limits that are more restrictive than those previously in place. This is a direct mandate on the agency’s regulatory power regarding lending limits. Subpart J of 12 CFR Part 614 addresses lending and leasing limits, which directly relates to the restriction imposed by the statute. The statute is cited as authority for the regulation.

While the statute primarily restricts the agency’s authority (limits on setting more restrictive lending limits), it clearly identifies a specific regulatory area (lending limits) and provides a constraint. By setting a maximum restrictiveness on the lending limits, it directs the FCA to consider previous lending limits when establishing new ones. This constitutes a specific direction concerning a particular regulatory task, even though the direction is phrased in terms of a restriction.

The statute, 12 U.S.C. § 2149, states that the Farm Credit Administration “may not establish lending limits” that are more restrictive than previously established limits. While it restricts the agency’s power in certain situations, it also implicitly acknowledges and authorizes the agency to establish lending limits, so long as they are not more restrictive. Therefore, the statute authorizes, but does not mandate, regulation of lending limits.

The statute clearly instructs the Farm Credit Administration on a specific regulatory task: to prescribe regulations governing the application of net savings by Farm Credit System banks. The statute provides further specific instruction as to what those regulations may address.

12 U.S.C. § 2132(a) explicitly states that net savings shall be applied “under regulations prescribed by the Farm Credit Administration.” This directly mandates the agency to issue regulations regarding the application of savings.

While the statute uses open-ended terms, it clearly directs the Farm Credit Administration to regulate the application of net savings. The statute further specifies that the regulations provide for sound, adequate capitalization and address the financing needs of borrowers, the fair share of capitalization, expenses, and reserves. Although the agency has discretion within these bounds, the delegation focuses on a defined regulatory task.

Subsection (a) of the statute explicitly states that “At the end of each fiscal year, the net savings shall, under regulations prescribed by the Farm Credit Administration, continue to be applied on a cooperative basis…” This demonstrates a direct mandate from the statute to the agency to prescribe regulations related to the application of savings.

While 12 U.S.C. § 2141 defines the bank’s powers by referencing the powers of constituent banks, it does not provide specific instructions regarding the manner in which loan policies and operations should be regulated. Instead, it provides a broad grant of authority, essentially inheriting a pre-existing set of powers. The referenced sections of the Farm Credit Act listed in the regulation’s authority section are broad, general grants of authority related to lending, rather than specific instructions on discrete regulatory tasks.

12 U.S.C. § 2141 directly mandates the establishment and operation of the National Bank for Cooperatives and grants it specific powers, rights, responsibilities, and obligations. The statute therefore directly mandates the activities that the regulations in 12 CFR Part 614 govern, as it concerns loan policies and operations.

12 U.S.C. § 2141(b) grants the National Bank for Cooperatives and its board broad powers, rights, responsibilities, and obligations. While the statute specifies the entity and its powers, it doesn’t outline specific regulatory tasks related to leasing. The statute sets the stage for the bank to function, but the regulations flesh out the details of leasing operations, which the statute does not explicitly identify.

While 12 U.S.C. § 2141 establishes the National Bank for Cooperatives and outlines its powers, it does not directly mandate the specific leasing regulations found in 12 CFR Part 616. Instead, the statute authorizes the bank to operate, giving it the power to engage in activities like leasing, which the agency then regulates. The statute outlines the bank’s general powers, and the regulations provide specific guidelines for how those powers are exercised in the context of leasing.