§2277a–10a Oversight Actions by Corporation

Summary

Requires the Farm Credit Administration to talk with the Corporation before it approves an insured obligation that will be issued by, on behalf of, or shared by any insured System bank that is below any capital requirement the Farm Credit Administration set for that bank. It also says the Farm Credit Administration must send the Corporation a copy of any merger or restructuring application for an institution. "Institution" means an insured System bank, and it also means a production credit association (or similar lender under section 2279b) when a direct loan payable to the funding bank equals 20 percent or more of that funding bank’s total loan volume, net of nonaccrual loans. If a proposed merger or restructuring involves an institution that is below any Farm Credit Administration capital requirement, the Farm Credit Administration must give the Corporation 30 days to send its views and any conditions for approval, and the Farm Credit Administration must consider those views when it decides.