Eximbank acts to reduce the risks of buyer default for American exporters under a variety of insurance programs administered by the Foreign Credit Insurance Association, an association of U.S. insurance companies organized by Eximbank in 1961. The Association sells and services export credit insurance policies under agency and reinsurance agreements with Eximbank. Its policies insure against risks of default in export transactions and are available in a variety of insurance plans that are tailored to the

special needs of different types of exporters and financial institutions.

Other Eximbank programs include the Working Capital Guarantee Program, a loan guarantee program designed to provide eligible exporters with access to working capital loans from commercial lenders, and the Engineering Multiplier Program, which provides financing in support of project-related design services or feasibility studies with potential for generating further procurement of American exports.

The Farm Credit Administration is an independent financial regulatory agency in the executive branch of the Government. The Administration carries out its responsibilities by conducting examinations of the various Farm Credit lending institutions, which are Farm Credit Banks, Banks for Cooperatives, the National Bank for Cooperatives, Federal Land Bank Associations, Production Credit Associations, Agricultural Credit Associations, and Federal Land Credit Associations. It also examines the service organizations owned by the Farm Credit lending institutions.

The lending institutions of the Farm Credit System were established to provide adequate and dependable credit and closely related services to farmers, ranchers, and producers or harvesters of aquatic products; persons engaged in providing on-the-farm services; rural homeowners; and to associations of farmers, ranchers, and producers or harvesters of aquatic products, or federations of such associations that operate on a cooperative basis and are engaged in marketing, processing, supply, or business service functions for the benefit of their members. Initially capitalized by the United States Government, the Farm Credit lending institutions are organized as cooperatives and are completely owned by their borrowers. The loan funds provided to borrowers by these institutions are obtained primarily through the sale of securities to investors in the Nation's capital markets.

The Administration administers regulations under which Farm Credit institutions operate. These regulations implement the Farm Credit Act of 1971, as amended, and have the force and effect of law. Similar to other Federal regulators of financial institutions, the Administration's authorities include the power to issue cease-and-desist orders,

to levy civil monetary penalties, to remove officers and directors of Farm Credit institutions, and to establish financial and operating reporting requirements. Although it is prohibited from participation in routine management or operations of Farm Credit institutions, the Administration is authorized to become involved in these institutions' management and operations when the Farm Credit Act or its regulations have been violated, when taking an action to correct an unsafe or unsound practice, or when assuming a formal conservatorship over an institution.

Management of the agency is vested in the Farm Credit Administration Board, whose three full-time members are appointed to terms of 6 years by the President with the advice and consent of the Senate. One member of the Board is designated by the President as Chairman and serves as the agency's chief executive officer. The Board is responsible for approving rules and regulations, providing for the examination and regulation of and reporting by Farm Credit institutions, and establishing the policies under which the Administration operates.

The agency does not operate on funds appropriated by Congress. Its income is derived from assessments collected from the institutions it regulates and examines. In addition to the headquarters office located in McLean, VA, the Administration maintains 11 field offices out of which examiners work. The field offices are located in: Albany, NY; Marietta, GA; Oklahoma City, OK; Louisville, KY; St. Louis, MO; Bloomington, MN; Omaha, NE; Aurora, CO; Irving, TX; Sacramento, CA; and Spokane, WA.

Authority for the organization and activities of the institutions comprising the cooperative Farm Credit System and

that operate under the regulation of the Farm Credit Administration may be found in the Farm Credit Act of 1971, as amended (12 U.S.C. 2001).

Sources of Information

Inquiries for information on the following subjects may be directed to the specified office, Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 221025090.

Contracts and Procurement Inquiries regarding the agency's procurement and contracting activities should be directed in writing to Contracting and Procurement. Phone, 703-883-4149. Employment The Farm Credit Administration has an ongoing college

recruitment program. Inquiries regarding employment with the agency should be directed to the Human Resources Division. Phone, 703-883-4139. Freedom of Information Requests Requests for agency records must be submitted in writing, clearly identified with "FOIA Request" and addressed to the Office of Congressional and Public Affairs. Phone, 703-883-4056. Publications Publications and information on the Farm Credit Administration may be obtained by writing to the Office of Congressional and Public Affairs. Phone, 703-8834056.