§ 615.5000. General responsibilities.
116 words·~1 min read·
/us/cfr/t12/s§ 615.5000·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The System banks, acting through the Federal Farm Credit Banks Funding Corporation (Funding Corporation), have the primary responsibility for obtaining funds for the lending operations of the System institutions.
(b)The System's funding operations have a significant impact upon the investment community, the general public, and the national economy in both the volume and the manner by which funds are raised. The Farm Credit Administration supervises compliance with the statutory collateral requirements for the debt obligations issued. The Chairman of the Farm Credit Administration, under policies adopted by the Board, consults with the Secretary of the Treasury concerning the System's funding activities, pursuant to section 5.10 of the Act. [54 FR 1158, Jan. 12, 1989]