[United States Government Manual]
[June 01, 2008]
[Pages 392-394]
[From the U.S. Government Publishing Office, www.gpo.gov]


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              Nancy C. Pellett
Members of the Board                              Leland A. Strom, 
                                                          Dallas P. 
    Secretary to the Board                        Roland E. Smith


Chief of Staff                                    Keith H. Heffernan
Director, Office of Congressional and Public      Martha E. Schober
General Counsel                                   Charles R. Rawls
Inspector General                                 Carl A. Clinefelter
Director, Office of Examination and Chief         Thomas G. McKenzie
Director, Office of Regulatory Policy             Andrew D. Jacob
Director, Office of Secondary Market Oversight    S. Robert Coleman
Director, Office of Management Services           Stephen G. Smith

[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 (FCA) was established as an independent 
financial regulatory agency in the executive branch of the Federal 
Government by Executive Order 6084 on March 27, 1933. FCA carries out 
its responsibilities by conducting examinations of the various Farm 
Credit lending institutions, which are Farm Credit Banks, the 
Agricultural Credit Bank, Agricultural Credit Associations, and Federal 
Land Credit Associations. FCA also examines the service organizations 
owned by the Farm Credit lending institutions, as well as the National 
Cooperative Bank.

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    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 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 (12 U.S.C. 2001), 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 four 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 which operate under the 
regulation of the Farm Credit Administration may be found in the Farm 
Credit Act of 1971, as amended.

Sources of Information

Inquiries for information on the following subjects may be directed to 
the specified office, Farm Credit

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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 
the Office of Management Services. Phone, 703-883-4135. TTY, 703-883-
4200. Requests for proposals, invitations for bids, and requests for 
quotations are posted when open on the Administration's Web site at 
Employment  Inquiries regarding employment with the Administration 
should be directed to the Office of Management Services. Phone, 703-883-
4135. TTY, 703-883-4200. Vacancy announcements are posted on the 
Administration's Web site at www.fca.gov.
Freedom of Information Requests  Requests for agency records must be 
submitted in writing, clearly labeled ``FOIA Request'' and addressed to 
the Office of the General Counsel. Phone, 703-883-4020 (voice and TTY). 
Requests may be submitted through the Internet at www.fca.gov.
Publications  Publications and information on the Farm Credit 
Administration may be obtained by writing to the Office of Congressional 
and Public Affairs. They are also posted on the Farm Credit 
Administration's Web site at www.fca.gov. Phone, 703-883-4056 (voice and 
TTY). 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 (voice and TTY). E-mail, info-
line@fca.gov. Internet, www.fca.gov.