Funding and Fiscal Affairs, Loan Policies and Operations, Funding Operations; Foreign Denominated Debt

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The Farm Credit Administration (FCA) requests public comment through an Advance Notice of Proposed Rulemaking (ANPRM) regarding the issuance of debt securities of the Farm Credit System (System) denominated in foreign currencies. The Federal Farm Credit Banks Funding Corporation (Funding Corporation), on behalf of the Farm Credit banks (banks), is considering offering Federal Farm Credit Banks Consolidated Systemwide debt securities (Systemwide debt securities) outside of the United States under a proposed Global Debt Program (Program). Under the Program, Systemwide debt issuances could be denominated in foreign currencies. The FCA specifically requests public comment regarding any safety and soundness risks that may be posed by the issuance of foreign denominated Systemwide debt securities.