FCA in brief
Who we are
The Farm Credit Administration is an independent federal agency that regulates and examines the banks, associations, and related entities of the Farm Credit System (FCS), including the Federal Agricultural Mortgage Corporation (Farmer Mac).
The FCS is the largest agricultural lender in the United States. It is a nationwide network of lending institutions that are owned by their borrowers. It serves all 50 states and Puerto Rico.
The FCS provides credit and other services to agricultural producers and farmer-owned cooperatives. It also makes loans for the following:
- Agricultural processing and marketing activities
- Rural housing
- Certain farm-related businesses
- Agricultural and aquatic cooperatives
- Rural utilities
- Foreign and domestic companies involved in international agricultural trade
Although FCA is a federal agency, we are not supported by federal money; instead, we are funded by assessments paid by FCS institutions.
What we do
FCA’s mission is to ensure a safe, sound, and dependable source of credit and related services for all creditworthy and eligible persons in agriculture and rural America. We do this in two ways:
By creating regulations for FCS institutions to follow
- By examining FCS institutions to ensure their compliance with the Farm Credit Act of 1971 (as amended), FCA regulations, and safe and sound banking practices
If an FCS institution violates a law or regulation, or if its operations are unsafe or unsound, we can enforce corrective action. FCA also protects the rights of borrowers, reports to Congress on the financial condition and performance of the FCS, and approves the issuance of FCS debt obligations.
How we are governed
FCA policy and regulatory agendas are established by a full-time, three-person board whose members are appointed by the U.S. president with the advice and consent of the Senate. The FCA board approves the policies, regulations, charters, and enforcement activities that ensure a strong FCS.
The president designates the chairman of the board, who also serves as the chief executive officer of FCA. The three FCA board members also serve as the board of directors of the Farm Credit System Insurance Corporation (FCSIC) although the FCA chairman does not serve as the chairman of FCSIC.