Farm Credit Administration

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Farm Credit Administration (FCA)

An independent agency (www.fca.gov) responsible for regulating and examining banks in the Farm Credit System, including Farmer Mac. It is funded through assessments made against the FCS institutions.
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NCFC also supports additional changes to modernize the Farm Credit Act, he said, citing as an example a proposal that CoBank be allowed to lend to new and emerging types of farmer cooperatives.
Although individual federal farm land banks originally issued FCS bonds, Congress, in the 1971 Farm Credit Act, allowed banks to issue FCS-wide securities, ostensibly in order to improve creditor perceptions of liability and reduce issuing costs.
Farmer Mac is a stockholder owned federally charted instrumentality of the United States that is organized and exists under Title VIII of the Farm Credit Act of 1971.
Goodlatte noted that the House Ag Committee last conducted a thorough examination of the Farm Credit Act during the Farm recession of the 1980s--a crisis period for farmers and ranchers.
The Farm Credit Act of 1971 and the Farm Credit Amendments Act of 1980 helped to expand FCS services to farm-related businesses, to provide leasing services, and to engage in financing of international trade.
The allocation method proposed by Rabobank would have had caused a significant number of stockholders to receive more cash in the transaction if they exercised dissenters rights under the Farm Credit Act regulations rather than vote in favor of the transaction.