Profiles of Existing Government Corporations - US Government ...

. 4..
r A
.
52
HANK: Federal Intsrm.diat. Credit Banks (FICBe)
CORPORATION PROFILE
Fm
PORPOSK: FICBe provide short and intermsdiats term loan funds to
Production Credit Aeeociatione (PCAe) and other inetitutione
financing farmers, ranchers, rural homsovnsre, owners of
farm-related buSinS and commercial fishermen.
LIZGAL ATJTBORITY: 12 U.S.C. 2071-2079
2151-2260
DATK CZUZATRD: Harch 4, 1923a
LEGISUTRD TRRMINATION DA=: The FICBe merged with the Federal
Land Banks to form Fan Credit Banks, effective July 6, 1988.
LKGAL STATUS: Mixed-ownership government corporation
AGKNCY STATDS: None epscifisd in the enabling legislation
BOARD O? DIRXCTORS: The Board coneiete of seven msmbsr8. The
members of each Farm Credit District Board of Directors are also
the members of th. Board of Directors of FICBs in their
rsep.ctivs dietricte. Two of the District Board esmbsre are
elected by the Federal Lend Bank Aeeocietione, tvo by the
Production Credit Aeeociatione, tvo by the borrovsre from or
l ubecribsre to the Guaranty Fund of the Banks for Cooperatives,
and one is appointed by the Farm Credit Adminietration (FCA)
governor with th. advice and consent of the Fedora1 Farm Credit
Board,
=SORY BOARD -: Not applicable
PARENTAGENCY: Hone epscifisd in l nablinq lsgielation
AF?IIJXl'ED AGENCIES: The executive departments, commieeione and
independent setablfehmsnte of th. U.S. government, the Federal
Deposit Ineurencs Corporation, the Comptroller of the Currency,
the Board of Governors of the ?edsral RsesNs System (FRS) and
the Federal Reserve Banks (FRBe) are authorized to make available
upon FCA request, to FCA or any institution of the Farm Credit
Syetu, all reports, records, or other information on conditions
of any organization receiving loans or dapoeite from such farm
credit institutions. The ?RBe act as clearing agents for the 37
farm credit banks by lafnteining accounts for each of thorn. FRBe
buy end roll farm credit l .ouritise and hold varying amounts of
these l .curitise as a part of the open mark.t operations of the
Board of Govanore of the FRS.
- STATDS: Govsrnmont-sponsored l nt.rpries, privat.ly owned,
whoa. budget l tatsrsnte arm included in the budget documents but
sxc1ud.d from the budget totals for the gov.rnm.nt.