Farm Credit Administration

The Farm Credit Administration is an independent agency of the Executive Branch of the federal government of the United States. It regulates and examines the banks, associations, and related entities of the Farm Credit System, a network of borrower-owned financial institutions that provide credit to farmers, ranchers, and agricultural and rural utility cooperatives, as well as provides oversight for Farmer Mac. It derives its authority from the Farm Credit Act of 1971.[https://www.fca.gov/about/fca_in_brief.html FCA in brief] The FCA is headquartered in McLean, Virginia, near Washington, DC.

The Farm Credit Administration was established by Executive Order 6084, which transferred most of the functions of the Federal Farm Board to the new Agricultural Adjustment Administration. The Federal Farm Board was then renamed the Farm Credit Administration.{{cite web |url=http://www.farmcreditarchive.org/chronology/default.aspx |title=1933 - March 27: President Roosevelt issues Executive Order 6084 creating the Farm Credit Administration, to be effective in 60 days |work=Farm Credit Archive |publisher=Farm Credit System |url-status=dead |archive-url=https://web.archive.org/web/20111106014506/http://www.farmcreditarchive.org/chronology/default.aspx |archive-date=2011-11-06 }}

The Farm Credit Act of 1933 provides for organizations within the Farm Credit Administration. The Farm Credit Act of 1933 was part of President Franklin D. Roosevelt's New Deal, to help farmers refinance mortgages over a longer time at below-market interest rates at regional and national banks. This helped farmers recover from the Dust Bowl. The Emergency Farm Mortgage Act loaned funds to farmers in danger of losing their properties. The campaign refinanced 20% of farmer's mortgages.

An Executive order by Roosevelt in 1933 placed all existing agricultural credit organizations under the supervision of a new agency, the Farm Credit Administration.{{cite web |url=http://www.presidency.ucsb.edu/ws/index.php?pid=14599 |title=Franklin D. Roosevelt: "Executive Order 6084 Consolidating Federal Farm Credit Agencies" March 27, 1933 |author1=Peters,Gerhard |author2=Woolley, John T |work=The American Presidency Project |publisher=University of California - Santa Barbara |access-date=June 30, 2013}} This included the Federal Farm Board. The Farm Credit Administration was independent until 1939, when it became part of the U.S. Department of Agriculture, but became an independent agency again under the Farm Credit Act of 1953. This Act created a Federal Farm Credit Board with 13 members (one from each of the 12 agricultural districts and one appointed by the Secretary of Agriculture) to develop policy for the Farm Credit Administration.

The Farm Credit Act of 1971 recodified all previous acts governing the Farm Credit System.

The FCA board consists of three members, who are appointed by the President, by and with the advice and consent of the Senate. The President appoints members of the Board who are experienced or knowledgeable in agricultural economics and financial reporting and disclosure; are experienced or knowledgeable in the regulation of financial entities; or have a strong financial, legal, or regulatory background. A maximum of two members may be members of the same political party. They each serve terms of six years, but they may continue to serve until their successor has been confirmed and taken office. The President designates one of the members to serve as Chairman of the Board for the duration of the member’s term.{{USC|12|2242}}

The current FCA board {{as of|lc=y|df=US|2025|1|20}}:{{cite web |url=https://www.fca.gov/about/fca-board |title=FCA board |author= |date=May 6, 2024 |website=FCA.gov |publisher=Farm Credit Administration |access-date=December 22, 2024}}

List of chairpersons since 1986:{{cite web |title=History of FCA Governance |url=https://www.fca.gov/about/history-of-fca-governance |publisher=FCA}}

• Title 12 of the Code of Federal Regulations
• Commodity Credit Corporation
• Farm Service Agency
• Farm Credit System Insurance Corporation
• List of financial regulatory authorities by jurisdiction

{{Reflist}}

• {{Official website|https://www.fca.gov/}}
• [https://www.federalregister.gov/agencies/farm-credit-administration Farm Credit Administration] in the Federal Register

{{New Deal}}

{{Bank regulation in the United States}}

{{Authority control}}

Category:Independent agencies of the United States government

Category:Financial regulatory authorities of the United States

Category:McLean, Virginia

Category:1933 establishments in the United States

Category:Farm Credit System