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News ReleaseFarm Credit Administration
1501 Farm Credit Drive
McLean, Virginia 22102-5090

For Immediate Release
NR-03-27 (12-11-03)
Contact: Hal C. DeCell III or Dana Wyckoff, (703) 883-4056
E-mail: info-line@fca.gov
Web site: http://www.fca.gov

FCA Board Approves 2004-2009 Strategic Plan

McLEAN, Va., December 11, 2003 — The Farm Credit Administration (FCA) Board today approved the agency’s Strategic Plan for Fiscal Years 2004–2009. A copy of the plan will be available on FCA’s Web site (www.fca.gov) after publication of a notice in the Federal Register.

In other business, a report on corporate chartering activity and noncorporate prior approval requests was presented to the FCA Board. One noncorporate prior approval request was acted on by notational vote since the November report to the Board. Clearance was given to a revision in AgStar Financial Services, ACA’s preferred stock disclosure that reduces a purchaser’s minimum investment requirement from $5,000 to $1,000. A notational vote is an action by the FCA Board that takes place between Board meetings, to meet statutory and regulatory time limits.

The FCA Board also received a report on the Farm Credit System’s compliance with three Federal Reserve Board regulations – the Equality Credit Opportunity Act (Regulation B), the Consumer Leasing Act (Regulation M), and the Truth in Lending Act (Regulation Z).
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The Farm Credit Administration is the safety and soundness regulator of the Farm Credit System. FCA charters, regulates, and examines the 112 banks, associations, and service corporations of the System. System institutions make loans to agricultural producers and their cooperatives nationwide. Members of the FCA Board are Michael M. Reyna, Chairman and CEO, Douglas L. “Doug” Flory, and Nancy C. Pellett.

Note: FCA news releases are available on the Internet. Access the FCA Home Page on the World Wide Web at www.fca.gov.