Profiles of Existing Government Corporations - US Government ...

HAKE: Farm Credit Banke (FCBe)a
PuRmSB : FCBO provide loans for farmere, ranchers, rural
homsovnore, owner8 of farm related bueineeeee and commercial
fiehormen through aeeociatione formed under the Farm Credit
System.
LEW mTRoRrrY: 12 U.S.C. 2000 at l .q.
DATB CRXATED: July 6, 1986, by merging FIRa and FICBe
LRGISLATRD TERMINATION MTR: None specified in enabling
legislation
LEGN. STATUS: Federally chartered inetrumentalitiee of the
United Statee
AGENCY STATUS: None specified in enabling legielation
BOARDO?DIRRCTORS: Each Fare Credit Sank ehall elect from its
voting l tockholdore a board of diroctore of such number, for euch
term, in euch manner, and with l uch qualification8 as may be
required in it8 bylave, excopt that, at leaet one member shall be
elected by tha other diroctore, vhich 8ambor ehall not bo a
director, officer, employee, or etockholder of a Syetom
inetitution.
ADVISORY BOARD llpIBERS: Not applicable
PARENT AGRNCY: None specified in enabling lagielation
AFl’ILIATZD AG~CIl5S: The executive dopartmsnte, commission8 and
independent l etabliehmante of the U.S. govornnnt, the Fadma
Depoeit Ineurance Corporation, the Comptrolhr of tha Currency,
the Board of Govornore of the Federal Roeorvo Syetor (RRS) and
the Fedaral Reearve Banks (FRBe) am authorized to make available
upon FCA requaet, to FCA or any institution of the ?arm Credit
syetem, all roporte, recorde, or other information on conditions
of any organization receiving loane or depoeite from l uch farm
cradit inetitutione. The FRBe act a8 clearing agent8 for the 37
farm credit banks by maintaining accounts for each of them. FRBe
buy and a011 farm credit eocuritiee and hold varying amounts of
theso securitioe a8 a part of the open market operations of the
Board of Governor8 of the FRS.
BUIXSRT STAT'US: Government-•poneored l ntorpriee, privately ovned,
whoa. budqot etatemonte are included in the budgot documonte but
excluded from tha budget totale for tha fedora1 government.
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