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The statute grants broad rulemaking authority to the Farm Credit Administration to regulate banks for cooperatives, but it doesn’t identify any specific regulatory gaps or tasks. Although the statute lists the powers of the bank, which could be construed as “specific regulatory tasks,” the regulatory authority granted is still general because it allows the agency to determine the specifics of how the bank”™s powers will be regulated.
The statute lists specific powers, like making loans, issuing bonds, and participating in loans, and subjects these to regulation by the Farm Credit Administration. While the powers are broadly defined, the statute clearly instructs the agency on the specific regulatory tasks related to these powers.
While the statute lists specific powers, the introductory clause subjects the banks to “regulation by the Farm Credit Administration” broadly, without specifying which aspect of these powers are to be regulated. The use of “regulation” provides broad authority to oversee the corporate powers listed.
While the statute outlines specific powers of the banks for cooperatives, it does not specifically instruct the Farm Credit Administration on precise regulatory tasks or gaps to address except for the one explicit mention under paragraph 13(A) “and make such other investments as may be authorized under regulations issued by the Farm Credit Administration.” The opening phrase “subject to regulation by the Farm Credit Administration” is extremely broad and, with the exception of 13(A), does not enumerate specific regulations or direct the agency to address any particular regulatory gap or task. Therefore, the delegation is best categorized as General Authority, with the explicit provision under 13(A) acting almost as a Specific Authority delegation. The agency is given substantial discretion to determine what regulations are “appropriate”, “reasonable”, or “necessary” for the other authorities.
While the statute provides a list of powers to the banks for cooperatives, the delegation to the Farm Credit Administration is framed in broad terms like “regulation.” It does not single out any specific regulatory tasks.
While the statute provides specific powers to the bank for cooperatives (e.g., adopt a seal, make contracts, make loans), the delegation to the Farm Credit Administration is phrased as “subject to regulation.” This implies a broad authority to oversee and control the exercise of those powers, rather than specific instructions on how to regulate a particular regulatory gap. This falls under the “General Authority” delegation as defined by Hickman, because it provides broad rulemaking authority without specific regulatory tasks identified. While Paragraph 13(A) has the language “under regulations issued by the Farm Credit Administration”, this is a specific instance and the introductory language of the statute indicates a more general supervisory role.
While it grants authority, the statute uses terms like “approve amendments consistent with this chapter” and “as may be appropriate for the effective operation of its business”. It’s not wholly open-ended. There is a defined task identified by the statute: amending charters/certificates and establishing branches.
The statute specifically directs the FCA to approve amendments to charters and organizational certificates and to authorize the establishment of branches. The term “appropriate” used in the context of establishing branches still provides a specific regulatory task, falling under the definition of Specific Authority Delegations.
Although 12 U.S.C. § 2121 is not explicitly listed in the authority section for 12 CFR Part 616, it falls under Hickman’s “Specific Authority” category because of multiple listed statutes related to lending activities including, for example, Sec. 3.7 of the Farm Credit Act which is 12 U.S.C. 2128. Furthermore, Section 3.0 of the Farm Credit Act is 12 U.S.C. 2121. Moreover, the statute uses the open-ended term, “appropriate,” giving the agency some discretion while still instructing them on a regulatory task. It directs the agency to authorize branches or other offices as “may be appropriate for the effective operation of its business.” The leasing activities governed by the regulation fall under “effective operation of its business”.
The statute provides broad rulemaking authority for the Farm Credit Administration, but it does not identify specific regulatory gaps or tasks. Instead, it provides a list of general powers, including regulation of mergers/consolidations, director elections, and organizational structure.
While the statute outlines specific powers for the banks for cooperatives, it grants broad authority to the Farm Credit Administration to regulate these entities. The statute does not identify specific regulatory tasks or gaps that the agency must address. The initial phrase “subject to regulation by the Farm Credit Administration” implies a broad grant of regulatory power to ensure the banks operate within the bounds of the law and in a safe and sound manner, which falls under a general delegation. The enumeration of specific powers of the cooperative banks does not limit this General Authority, nor do any of the specific powers themselves dictate what the substance of any specific regulations should be.
The statute directs the Farm Credit Administration to regulate specific aspects of the Federal Land Bank Association’s capitalization, stock, and earnings distribution. This falls under the definition of a “Specific Authority Delegation” because it instructs the agency on a specific regulatory task.
The statute explicitly instructs the Farm Credit Administration (FCA) to regulate the capitalization, stock issuance, transfer, retirement, and earnings distribution of Federal Land Bank Associations. This is a specific regulatory task identified by Congress.
12 U.S.C. § 2097 specifically creates a lien and details on what it applies to. The reference to the specific U.S. Code in the regulation demonstrates Congress delegated the Farm Credit Administration to regulate this lien.
While the statute itself doesn’t instruct the agency to create leasing policies, the listing of it as one of many authorities to create regulations for leasing indicates it pertains to a specific regulatory area – the financial operations of Federal Land Bank Associations and their lien on issued stock. The regulation, 12 CFR Part 616, governs leasing activities. Since the statute concerns aspects related to liabilities and stock related to leasing, it would be classified as specific. It’s not a broad delegation to make rules on just anything, but on the specifics within the Farm Credit System.
While 12 U.S.C. § 21 focuses on the formation and articles of association for national banks, it doesn’t provide specific instructions for regulatory tasks like those addressed in the Community Reinvestment Act regulations (12 CFR Part 25). Instead, it grants authority relating to the regulation of the bank’s business. Therefore, it is categorized as a General Authority delegation, since it only relates generally to banking regulation which underlies the CRA.
While Section 2093 outlines the general corporate powers of Federal Land Bank Associations, multiple subsections explicitly refer to regulation by the Farm Credit Administration. For instance, subsection (15) states the provision of technical assistance and financial related services must be “…feasible, under regulations of the Farm Credit Administration.” And subsection (18) allows the investment of association funds “…as may be authorized in regulations of the Farm Credit Administration…”. These are specific instructions on regulatory tasks, albeit using open-ended terms like “feasible” and “authorized”. It’s not just a broad grant of rulemaking power.
While the statute grants broad powers to Federal Land Bank Associations, it also specifically directs the Farm Credit Administration to regulate certain aspects of their operations, such as related services and investments (mentioned throughout the CFR part 618 and stemming from 12 U.S.C. § 2093(15) & (18)). While some language is broad (“necessary or convenient to the business of the association”), the inclusion of the term ‘regulation’ indicates the delegation is targeted towards specific regulatory tasks.
While the statute lists a wide array of corporate powers for the Federal Land Bank Association, it frequently ties the exercise of those powers to the “regulation of the Farm Credit Administration” and/or the “approval by the Bank.” The Farm Credit Administration is specifically directed to regulate the operation of the Associations. For example, section (15) discusses providing technical assistance under FCA regulations, and section (18) discusses investment of association funds as may be authorized in FCA regulations. These are clear instructions on specific regulatory tasks, fitting the “Specific Authority” delegation.
12 U.S.C. § 2093(15) discusses the provision of technical assistance to members, borrowers, applicants, and other eligible persons and making available to them, at their option, such financial related services appropriate to their operations as it determines, with Farm Credit Bank approval, are feasible, under regulations of the Farm Credit Administration. This is a specific regulatory task identified within the broader context of general corporate powers.
While 12 U.S.C. § 2093 lists specific powers of the Federal Land Bank Associations, it does not identify specific regulatory tasks for the Farm Credit Administration beyond broad supervision. The delegation is general because the statute authorizes the Farm Credit Administration to regulate the associations, but does not provide detailed instructions on how to define capital requirements or risk-weighted assets, which are subjects of the regulation.
While § 2093 outlines broad powers, it also specifically mentions that certain activities, such as investing association funds (subsection 18) and providing certain financial services (subsection 15) must be authorized “in regulations of the Farm Credit Administration.” This demonstrates a legislative intent that the FCA should address specific gaps and aspects of Federal Land Bank Association activities through regulation. Furthermore, that the statutory text mentions “regulations of the Farm Credit Administration” signals a delegation of authority to create rules governing those practices, as opposed to issuing guidance documents.
The statute in 12 U.S.C. § 2093, including subsections like (15) and (18), instructs the Farm Credit Administration to create regulations regarding specific areas of the Federal land bank associations’ operations, like financial related services and investment of funds. The statute includes open-ended terms like “appropriate” and “authorized”, which are permitted under Specific Authority delegation.
The statute provides specific instances where the Farm Credit Administration’s regulations are required, such as in section (15) regarding “financial related services appropriate to their operations” and section (18) regarding “investing association funds in such obligations as may be authorized in regulations of the Farm Credit Administration.” Even though “appropriate” and “authorized” are open-ended, the statute still instructs the agency on specific areas to regulate.
While the statute grants broad powers to the Farm Credit Administration (FCA) regarding regulation, it also provides specific direction. For instance, section (18) “invest association funds in such obligations as may be authorized in regulations of the Farm Credit Administration and approved by the bank” and section (15) “provide technical assistance to members, borrowers, applicants, and other eligible persons and make available to them, at their option, such financial related services appropriate to their operations as it determines, with Farm Credit Bank approval, are feasible, under regulations of the Farm Credit Administration”. These are specific tasks, indicating a Specific Authority Delegation under Hickman’s framework. The citation of 12 U.S.C. 2093 in the CFR also supports a specific relationship.