Board Action Cancelling Charter of the Farm Credit System Financial Assistance Corporation

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The Farm Credit Administration (FCA or Agency), through the FCA Board, cancelled the charter of the Farm Credit System Financial Assistance Corporation (FAC or Corporation) at the January 11, 2007, Board meeting. The FCA chartered the FAC on January 11, 1988, to carry out a program to provide capital to Farm Credit System (System) institutions that were experiencing financial difficulties, and to assist in the repayment by System institutions to those that provided funds in connection with the program. The FAC discharged all of its responsibilities with respect to the repayment of FAC obligations during June 2005, and as a result, became eligible to terminate its corporate existence.