[United States Government Manual]
[May 30, 1997]
[Pages 520-523]
[From the U.S. Government Publishing Office, www.gpo.gov]




FARM CREDIT ADMINISTRATION

1501 Farm Credit Drive, McLean, VA 22102-5090
Phone, 703-883-4000

Farm Credit Administration Board:                   

Chairman                                          Marsha Pyle Martin
Members of the Board                              Doyle L. Cook, 
                                                          (vacancy)
    Secretary to the Board                        Floyd J. Fithian

Staff:                                              

Chief Operating Officer                           (vacancy)
    Director, Office of Congressional             Eileen M. McMahon
            and Public Affairs
    General Counsel                               Jean Noonan
        Associate General Counsels                Kathleen V. Buffon
                                                  Victor A. Cohen
    Inspector General                             Eldon W. Stoehr
    Director, Office of Examination and           Roland E. Smith
            Chief Examiner
    Director, Office of Policy                    Thomas G. McKenzie
            Development and Risk Control
    Director, Office of Secondary Market          Larry W. Edwards
            Oversight
    Director, Office of Resources                 Donald P. Clark
            Management

[For the Farm Credit Administration statement of organization, see the 
        Code of Federal Regulations, Title 12, Parts 600 and 611]

------------------------------------------------------------------------

The Farm Credit Administration is responsible for ensuring the safe and 
sound operation of the banks, associations, affiliated service 
organizations, and other entities that collectively comprise what is 
known as the Farm Credit System, and for protecting the interests of the 
public and those who borrow from Farm Credit institutions or invest in 
Farm Credit securities.


The Farm Credit Administration was established as an independent 
financial regulatory agency in the executive branch of the Federal 
Government by Executive Order 6084 of March 27, 1933. The Administration 
carries out its responsibilities by conducting examinations of the 
various Farm Credit lending institutions, which are Farm Credit Banks, 
the Bank for Cooperatives, the Agricultural Credit Bank, Federal Land 
Bank Associations, Production Credit Associations, Agricultural Credit 
Associations, and Federal Land Credit

[[Page 521]]



[[Page 522]]

Associations. It also examines the service organizations owned by the 
Farm Credit lending institutions, as well as the National Consumer 
Cooperative Bank (also known as the National Cooperative Bank (NCB)) and 
its subsidiaries, including the NCB Development Corporation.
    Management of the agency is vested in the Farm Credit Administration 
Board, whose three full-time members are appointed to 6-year terms by 
the President, with the advice and consent of the Senate. One member of 
the Board is designated by the President as Chairman and serves as the 
Administration's chief executive officer. The Board is responsible for 
approving rules and regulations, providing for the examination and 
regulation of and reporting by Farm Credit institutions, and 
establishing the policies under which the Administration operates. Board 
meetings are regularly held on the second Thursday of the month and are 
subject to the Government in the Sunshine Act. Public announcements of 
these meetings are published in the Federal Register.
    The lending institutions of the Farm Credit System were established 
to provide adequate and dependable credit and closely related services 
to farmers, ranchers, and producers or harvesters of aquatic products; 
persons engaged in providing on-the-farm services; rural homeowners; and 
associations of farmers, ranchers, and producers or harvesters of 
aquatic products, or federations of such associations that operate on a 
cooperative basis and are engaged in marketing, processing, supply, or 
business service functions for the benefit of their members. Initially 
capitalized by the United States Government, the Farm Credit lending 
institutions are organized as cooperatives and are completely owned by 
their borrowers. The loan funds provided to borrowers by these 
institutions are obtained primarily through the sale of securities to 
investors in the Nation's capital markets.
    The Agricultural Credit Act of 1987, as amended (12 U.S.C. 2279aa-
1), established the Federal Agricultural Mortgage Corporation (commonly 
known as ``Farmer Mac''). The Corporation, designated as part of the 
Farm Credit System, is a federally chartered instrumentality of the 
United States and promotes the development of a secondary market for 
agricultural real estate and rural housing loans. Farmer Mac also 
provides guarantees for the timely payment of principal and interest on 
securities, representing interests in or obligations backed by pools of 
agricultural real estate loans. The Administration is responsible for 
the examination and regulation of Farmer Mac to ensure the safety and 
soundness of its operations.
    The Administration manages regulations under which Farm Credit 
institutions operate. These regulations implement the Farm Credit Act of 
1971, as amended, and have the force and effect of law. Similar to other 
Federal regulators of financial institutions, the Administration's 
authorities include the power to issue cease-and-desist orders, to levy 
civil monetary penalties, to remove officers and directors of Farm 
Credit institutions, and to establish financial and operating reporting 
requirements. Although it is prohibited from participation in routine 
management or operations of Farm Credit institutions, the Administration 
is authorized to become involved in these institutions' management and 
operations when the Farm Credit Act or its regulations have been 
violated, when taking an action to correct an unsafe or unsound 
practice, or when assuming a formal conservatorship over an institution.
    The Administration does not operate on funds appropriated by 
Congress. Its income is derived from assessments collected from the 
institutions it regulates and examines. In addition to the headquarters 
office located in McLean, VA, the Administration maintains 4 field 
offices located in Aurora, CO; Bloomington, MN; Irving, TX; and 
Sacramento, CA.
    Authority for the organization and activities of the institutions 
comprising the cooperative Farm Credit System and that operate under the 
regulation of the Farm Credit Administration may be

[[Page 523]]

found in the Farm Credit Act of 1971, as amended (12 U.S.C. 2001).

Sources of Information

Inquiries for information on the following subjects may be directed to 
the specified office, Farm Credit Administration, 1501 Farm Credit 
Drive, McLean, VA 22102-5090.

Contracts and Procurement  Inquiries regarding the Administration's 
procurement and contracting activities should be directed in writing to 
Contracting and Procurement. Phone, 703-883-4286.
Employment  Inquiries regarding employment with the Administration 
should be directed to the Human Resources Division. Phone, 703-883-4135.

Freedom of Information Requests  Requests for agency records must be 
submitted in writing, clearly identified with ``FOIA Request'' and 
addressed to the Office of the General Counsel. Phone, 703-883-4020.

Publications  Publications and information on the Farm Credit 
Administration may be obtained by writing the Office of Congressional 
and Public Affairs. Phone, 703-883-4056.

For further information, contact the Office of Congressional and Public 
Affairs, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 
22102-5090. Phone, 703-883-4056.

------------------------------------------------------------------------