Profiles of Existing Government Corporations - US Government ...

202
Nm: Regional Banks For Cooperatives (WCs)
CORPORATION PROFILE
Bcs!
mRmSE : BCS mak8 loans of all kinda to agriculture, aquatic and
public utility cooperative8 vithin their respective territorres
LEGAL NJTEORITY: 12 U.S.C. 2121-2134
2151-2260
DATE CRXATED: June 16, 1933a
LEGISLATED THlllIwATION MT'S: Succession until dissolved by an
act of rho Congress
LBGAL STATUS: Mixed-ownership government corporation
AGmCY STATOSr Nono 8pecLfied in enabling legimlation
BOARD O? DIRBCXDRS: The Board con8istm of 8even members. The
member8 of each Farm Credit Di8trict Board of Director8 are also
the members of the Board of Director8 of BC8 in their rempective
di8trict8. Two of the District Board member8 are elected by the
Federal Land Bank Associationm, tvo by the Production Credit
As8ociation8, tvo by the borrovara from or subacribor8 to the
Guaranty Fund of the Bank8 for Cooperativa8, and one ia appointed
by the Farm Credit Administration (FCA) governor, vith the advice
and conaant of the Federal Farm Credit Board.
ADVIBORY BOARD ?mmRRs: Not applicable
PARmT AGENCY: None l pecified in enabling lagi8lation
AFFILIATBD AGmK!IRs: The l xocutiva departronts, conieeions and
indopondent l etabliahmonta of the U.S. government, the Fedora1
Deposit Insurance Corporation, the Comptroll8r of the Currency,
the Board of Governor8 of the Faderal Re8erve Syater (FRS) and
the Fedora1 Reaeme Banks (FRBe) are authorized to make available
upon PCA raquaat, to FCA or any institution of the Farm Crmdit
Syatom all raportm, records, or other information on conditions
of any organization receiving loans or deposit8 from such farm
credit institution. The FRBa act am clearing agents for the 37
farm cradit banks by maintaining accounts for each of th8r. FRB8
buy and sell farm credit socuritiem and hold varying amounts of
thee. 8ocuritiea as a party of the open market operation8 of the
Board of Governors of the FRS.
-Sf STATUS: Government-aponaorod entorpriaa, privately ovned,
vhoae budgot l tatuent8 are included in the budget documents but
excluded from the budget totala for the govermont.
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