Title 12 — Banks and BankingRelease 119-73not60
§2243 Powers of Board
Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter V— FARM CREDIT ADMINISTRATION ORGANIZATION › Part B— Farm Credit Administration Organization › § 2243
Summary
The Board must run and set policy for the Farm Credit Administration. It must approve rules, arrange exams and oversight of Farm Credit System institutions, make sure the Administration carries out its duties, and can require reports.
Full Legal Text
Title 12, §2243
Banks and Banking — Source: USLM XML via OLRC
The Board shall manage and administer, and establish policies for, the Farm Credit Administration. It—
(1)shall approve the rules and regulations for the implementation of this chapter not inconsistent with its provisions;
(2)shall provide for the examination of the condition of, and general regulation of the performance of the powers, functions, and duties vested in, each institution of the Farm Credit System;
(3)shall provide for the performance of all the powers and duties vested in the Farm Credit Administration; and
(4)may require such reports as it deems necessary from the institutions of the Farm Credit System.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1988—Pub. L. 100–233 struck out “; civil proceedings” in section catchline. 1985—Pub. L. 99–205 substituted requirement that the Board manage and administer, and establish policies for, the Farm Credit Administration for former requirement that the Federal Farm Credit Board establish the general policy for the guidance of the Farm Credit Administration, including matters of broad and general supervisory, advisory, or policy nature; incorporated existing text in provisions designated cls. (1) to (4); substituted in cl. (2) “general regulation” for “general supervision”; and struck out last sentence which read as follows: “The Board shall function as a unit without delegating any of its functions to individual members, but may appoint committees and subcommittees for studies and reports for consideration by the Board. It shall not operate in an administrative capacity.”
Statutory Notes and Related Subsidiaries
Effective Date
of 1985 AmendmentAmendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. Interim Implementation of 1985 AmendmentFor provisions authorizing interim implementation by Governor of Farm Credit Administration of
Amendments
to this section by Pub. L. 99–205, see section 402 of Pub. L. 99–205, set out as a note under section 2241 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2243
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60