Operating Status at FCA
The Farm Credit Administration is the independent Federal agency responsible for regulating and examining the two agricultural Government-sponsored enterprises serving agriculture and rural America, namely the Farm Credit System and the Federal Agricultural Mortgage Corporation (Farmer Mac).
FCA operates as a nonappropriated agency with a permanent, readily available, revolving fund. As such, FCA is not reliant on the passage of annual appropriation legislation for its operating expenses or ongoing operations. Because of FCA’s nonappropriated status, we do not anticipate that a shutdown will affect the ongoing operations of FCA.
FCA assesses Farm Credit System institutions for the cost of administering the Farm Credit Act of 1971, as amended; for FCA administrative expenses; and for the cost of supervising and examining Farmer Mac under title VIII of the Act. The assessments collected by the Agency are deposited in FCA’s Administrative Expense Account, which is maintained in the United States Treasury. All amounts in the expense account in excess of those needed for the current expenses of the Agency are invested and reinvested by the Secretary of the Treasury at the direction of the Agency. As stated in section 5.15(b)(2) of the Act, the funds contained in the expense account “shall not be construed to be Federal Government funds or appropriated moneys.”The Agency does not expect any lapse in the service that it provides as a safety and soundness regulator. All employees are expected to report to work.