Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations; Global Debt

Résumé

The Farm Credit Administration (FCA) adopts as final without change an interim rule that clarifies the Federal Farm Credit Banks Funding Corporation's (Funding Corporation) statutory authority to use more than one fiscal agent to facilitate the sale of Systemwide debt securities. The rule permits the Funding Corporation to employ fiscal agents other than Federal Reserve Banks (FRBs) for issuance of dollar denominated Systemwide debt securities in foreign capital markets. The rule recognizes the authority of the Funding Corporation to issue, sell, and distribute Systemwide debt securities on behalf of the Farm Credit banks (banks) on a global basis and allows the banks to engage in debt marketing practices used by other Government-Sponsored Enterprises (GSEs).