Imágenes de páginas
PDF
EPUB

CHAPTER VI-FARM CREDIT ADMINISTRATION

NOTE: Former Chapter I (Parts 4-73) of Title 6 was transferred to Title 12, Chapter VI with parts redesignated respectively as Parts 604-673 at 31 F.R. 16227, December 20, 1966. See appendix to List of Sections Affected for references to regulations formerly codified as Title 6, Chapter I, by the Farm Credit Administration during 1964, 1965, and in 1966 prior to transfer.

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]

§ 600.1

Subpart A-Farm Credit

Administration

Farm Credit Administration.

The Farm Credit Administration is an independent agency in the executive branch of the Government. It consists of the Federal Farm Credit Board, the Governor, and other officers and employees. The central offices of the Farm Credit Administration are located in Suite 4000, 490 L'Enfant Plaza East, SW., Washington, D.C. Its mailing address is Farm Credit Administration, Washington, DC 20578. The hours of business are 8 am-4:30 pm Monday through Friday, excluding holidays.

[41 FR 15835, Apr. 15, 1976]

§ 600.2

Federal Farm Credit Board.

The Federal Farm Credit Board is a part-time, policymaking board which consists of 13 members, 12 of whom are appointed by the President with the advice and consent of the Senate. In making the appointments, one from each of the 12 Farm Credit districts, the President receives and considers nominations from each district by the Federal land bank associations, the production credit associations and the stockholders of the banks for cooperatives. The 13th member of the Board is designated by the Secretary of Agriculture as his representative on the Board. The Federal Farm Credit Board establishes the general policy for the guidance of the Farm Credit Administration and approves the rules and regulations which implement applicable laws.

[blocks in formation]

The Governor of the Farm Credit Administration is its chief executive officer. He is appointed by the Federal Farm Credit Board, and serves at its pleasure. During any period in which the Governor holds any stock in any of the institutions subject to supervision of the Farm Credit Administration, the appointment of the Governor shall be subject to approval by the President and during any such period the President shall have the power to remove the Governor. On December 31, 1968, the Government capital then remaining in the banks and associations was retired. Under the general super

[blocks in formation]

The Governor of the Farm Credit Administration is assisted in executing his responsibilities by Deputy Governors appointed by him. The Governor and the Deputy Governors comprise the Executive Staff of the Farm Credit Administration.

(a) The Office of Credit and Operations, headed by a Deputy Governor, regulates and supervises the extension and administration of credit by, and the operating policies and practices of, the banks and associations of the Farm Credit System.

(b) The Office of Finance and Research, headed by a Deputy Governor, regulates and supervises the financing activities of the Farm Credit banks and their Fiscal Agency, and conducts current and long-range research in the areas of agricultural credit and finance.

(c) The Office of Administration, headed by a Deputy Governor, provides resources and services to enable other units of the Farm Credit Administration to carry out their responsibilities in supervision, finance, and examination, and supervises information and personnel programs of the banks and associations of the Farm Credit System.

(d) The Office of General Counsel, headed by a Deputy Governor and General Counsel, provides legal services for the Federal Farm Credit Board, the Governor, and staff, and provides leadership to legal counsel for the Farm Credit banks in interpreting the Farm Credit Act of 1971 and regulations and bylaws issued to implement the Act.

(e) The Office of Examination, headed by a Deputy Governor and Chief Examiner, examines and audits the banks and associations of the Farm Credit System, and, in limited instances, investigates alleged violations of Federal criminal statutes and conflicts of interest

regulations which relate to System institutions.

[41 FR 15835, Apr. 15, 1976]

§ 600.5

Other administrative units.

(a) In the Office of Credit and Operations are the following divisions, each of which is headed by a Director:

(1) Supervisory Division which supervises bank and association activities in credit and operations and serves as the primary contact point with the banks in all areas except funding, personnel, and information.

(2) Review Division which reviews all information pertaining to bank management and directors, and provides the internal audit and control of the Office of Credit and Operations.

(3) Technical Services Division which provides technical support to the Supervisory and Review Divisions on activities which can be coordinated best on a Systemwide basis.

(b) In the Office of Finance and Research are the following divisions, each of which is headed by a Director:

(1) Finance Division which monitors, coordinates, evaluates and maintains ongoing financial supervision of the financing activities of the System.

(2) Research Division which plans, coordinates and conducts current and longrange studies in financing the Farm Credit System and in areas of agricultural credit to farmers, cooperatives, and rural home owners.

(c) In the Office of Administration are the following divisions, each of which is headed by a Director:

(1) Personnel Division which plans, develops and administers agency personnel programs; provides guidance on administration of System personnel programs; reviews and approves district retirement programs; and reviews and approves salary ranges for bank employees.

(2) Administrative Division which plans, directs, and participates in FCA budget development, supervises all administrative services including FCA accounting, voucher auditing, payroll, procurement, supplies, general files, mail, messenger, space utilization, and supervises district director elections.

(3) Information Division which plans and implements FCA public information programs, produces information mate

[blocks in formation]

[41 FR 15835, Apr. 15, 1976]

Subpart B-Farm Credit System § 600.10 Farm Credit districts.

(a) The United States is divided into 12 Farm Credit districts. In each district there are a Federal land bank and a number of Federal land bank associations, a Federal intermediate credit bank and a number of production credit associations, and a bank for cooperatives. Additionally, there is a Central Bank for Cooperatives located in the District of Columbia. The three banks in each district maintain their offices together. The city in which their offices are located in

[blocks in formation]

Each district has a part-time, policymaking Farm Credit board of seven members who are ex officio, directors of each of the three banks in that district. The Central Bank for Cooperatives has a separate board of 13 directors. Each bank has its own officials.

(b) In each district, the Federal land bank associations, the production credit associations, and the cooperatives which borrow from the banks for cooperatives, as separate groups are each entitled to elect two members of the district Farm Credit board. The seventh member of the district board is appointed by the Governor of the Farm Credit Administration with the advice and consent of the Federal Farm Credit Board. Activities of the three banks in each district are coordinated through the district Farm Credit board and a committee composed of the bank presidents.

(c) From each district, the board of directors of the bank for cooperatives elects a director of the Central Bank. The 13th director of the Central Bank is appointed by the Governor with the advice and consent of the Federal Farm Credit Board.

[blocks in formation]
[blocks in formation]

The 12 Federal intermediate credit banks, one in each Farm Credit district, were established as permanent institutions under the Federal Farm Loan Act as amended by the Agricultural Credits Act of 1923 (42 Stat. 1454), and are continued under the Farm Credit Act of 1971 (85 Stat. 583). The capital stock of the Federal intermediate credit banks is owned by production credit associations. The Federal intermediate credit banks are primarily banks of discount for production credit associations and other agricultural and livestock lending institutions.

§ 600.50 Production credit associations.

The associations are corporations organized under the Farm Credit Act of 1933 (48 Stat. 259), and continued under the Farm Credit Act of 1971 (85 Stat. 583). Production credit associations may finance on a short- and intermediateterm basis farmers and ranchers and producers or harvesters of aquatic products.

§ 600.60

Banks for cooperatives.

The banks for cooperatives, one in each Farm Credit district and a Central Bank for Cooperatives in the District of Co

[blocks in formation]

601.174

601.175 601.176

Information not known.
Information prohibited.

Confidentiality of statements. 601.177 Effect of statements on other requirements.

601.178 Review of statements. 601.180 Special Government employees. AUTHORITY: The provisions of this Part 601 issued under secs. 5.9, 5.18, 5.26, 85 Stat. 619, 621, 624; 12 U.S.C. 2243, 2252, 2001 nt.

SOURCE: The provisions of this Part 601 appear at 37 F.R. 11409, June 7, 1972, unless otherwise noted.

§ 601.100 General policy.

(a) It is the policy of the Farm Credit Administration that all of its officers and employees shall observe the highest standards of conduct in the discharge of the duties and responsibilities that are assigned to them, and that they shall conduct themselves at all times in a

manner becoming officers and employees of the Federal Government, so as not to cause embarrassment to the Farm Credit Administration or the Government.

(b) Each officer and employee has an obligation to the Government, to the people he serves, and to his fellow officers and employees to carry out the purpose and spirit of this policy.

(c) Rules and regulations concerning responsibilities and conduct are contained in handbooks or special releases issued to all officers and employees. It is expected that they will keep currently informed thereon, and comply therewith. § 601.101 Responsibilities.

(a) In the administration of the policy set forth in § 602.200 of this chapter, and the rules and regulations thereunder, the Director of Personnel and Administrative Services is responsible for (1) general coordination, (2) dissemination of information, (3) handling of complaints, (4) assignment of investigations, (5) administrative interpretation, and (6) periodic review and evaluation of compliance.

(b) The Director of Personnel and Administrative services shall serve as counselor on ethical conduct and shall be responsible for assuring that counseling and interpretations on questions dealing with employee conduct and conflicts of interest are available to any officer or employee who desires advice and guidance on such questions.

§ 601.105 Disciplinary and other remedial action.

A violation of the provisions of this part which deal with employee conduct may be cause for appropriate disciplinary action which may be in addition to any penalty prescribed by law.

§ 601.110 Conflict of interest.

Except as specifically authorized by law or these regulations, no officer or employee of the Farm Credit Administration:

(a) Shall, in any manner directly or indirectly, participate in the deliberation upon, or the determination of, any question affecting his personal interests, those of any person related to him by blood or marriage, or those of any partnership, association, or any corporation in which he is directly or indirectly interested;

(b) Shall, except in the performance of his official duties, divulge to another

« AnteriorContinuar »