This rulemaking would propose updates to Farmer Mac's regulatory capital framework in furtherance of Farmer Mac's safe and sound operations and its role in promoting affordable and sustainable access to credit in agricultural and rural communities. The rulemaking is intended to ensure Farmer Mac operates under a transparent, comprehensive, and robust capital framework and will consider whether and how to incorporate elements of other established regulatory frameworks governing capital as appropriate for Farmer Mac's non-bank, rural-focused, secondary market business model and status as a government-sponsored enterprise.