    [United States Government Manual]
    [June 01, 2002]
    [Pages 390-393]
    [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. Fax, 703-734-5784. Internet, www.fca.gov.

    Farm Credit Administration Board:

    Chairman and Chief Executive Officer              Michael M. Reyna
    Members of the Board                              Ann Jorgensen,
                                                              (vacancy)
        Secretary to the Board                        Kelly Mikel Williams

    Staff:

    Chief Operating Officer                           Cheryl Tates Macias
    Director, Office of Congressional and Public      Hal C. DeCell III
            Affairs
    General Counsel                                   Philip J. Shebest,
                                                              Acting
        Associate General Counsels                    Kathleen V. Buffon,
                                                              Victor A.
                                                              Cohen
    Inspector General                                 Stephen G. Smith

    [[Page 391]]

    Director, Office of Examination and Chief         Roland E. Smith
            Examiner
    Director, Office of Policy and Analysis           Michael V. Dunn
    Director, Office of Secondary Market Oversight    Carl A. Clinefelter
    Director, Office of Chief Administrative Officer  Philip J. Shebest
    Director, Office of Chief Financial Officer       W.B. Erwin
    Director, Office of Chief Information Officer     Doug Valcour
    Director, Equal Employment Opportunity            Eric Howard

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

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    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 FarmCredit Administration was established as an independent
    financial regulatory agency in the executive branch of the Federal
    Government by Executive Order 6084 on 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 Agricultural Credit Bank, Production Credit Associations,
    Agricultural Credit Associations, and Federal Land Credit 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).
        FCA policymaking 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 loanfunds 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

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    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 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. Requests for
    proposals, invitations for bids, and requests for quotations are posted
    when open on the Administration's Web site, www.fca.gov.

    Employment  Inquiries regarding employment with the Administration
    should be directed to the Office of the Chief Administrative Officer.
    Phone, 703-883-4135. Vacancy announcements are posted on the
    Administration's Web site, www.fca.gov.

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

    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. Fax, 703-790-3260. E-mail,
    info-line@fca.gov.

    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. E-mail, info-line@fca.gov. Internet,
    www.fca.gov.

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