US Code

Public Law 119-83 (04/13/2026)

12 U.S.C. § 2245

Organization of Farm Credit Administration

(a)

Policies of Board

The Chairman of the Farm Credit Administration Board, in carrying out the powers and duties vested in the Chairman by this chapter, and Acts supplementary thereto, shall be governed by policies of the Board and by such regulatory decisions, findings, and determinations as the Board may by law be authorized to make.

(b)

Appointments

The Chairman of the Board shall appoint such personnel as may be necessary to carry out the functions of the Farm Credit Administration. The appointment by the Chairman of the heads of major administrative divisions under the Board shall be subject to the approval of the Board.

(c)

Personnel

(1)

Appointments by Board members

Personnel employed regularly and full-time in the immediate offices of Board members shall be appointed by each such Board member.

(2)

Officers and employees

(A)

Appointment, compensation, and benefits

The Chairman shall fix the compensation and number of, and appoint and direct, employees of the Administration. The Chairman may set and adjust the rates of basic pay for employees of the Administration without regard to the provisions of chapter 51, or subchapter III of chapter 53, of title 5. The Chairman may provide such additional compensation and benefits to employees of the Administration as is necessary to maintain comparability with the total amount of compensation and benefits provided by other Federal bank regulatory agencies. In setting and adjusting the total amount of compensation and benefits for employees of the Administration, the Chairman shall consult with, and seek to maintain comparability with, other Federal bank regulatory agencies.

(B)

“Other Federal bank regulatory agencies” defined

section 1813(q) of this titleFor purposes of this subsection, the term “other Federal bank regulatory agencies” has the same meaning given to the term “appropriate Federal banking agency” in .

(C)

Ethics in Government

The officers and employees of the agency shall be—
(i)
subject to chapter 131 of title 5; and
(ii)
considered officers or employees of the United States for the purposes of sections 201 through 203, and sections 205 through 209, of title 18.
(3)

Delegation

The powers of the Chairman as chief executive officer necessary for day to day management may be exercised and performed by the Chairman through such other officers and employees of the Administration as the Chairman shall designate, except that the Chairman may not delegate powers specifically reserved to the Chairman by this chapter without Board approval.

(d)

Funding

section 2250 of this titleThe operations of the Farm Credit Administration, and the salaries of members of the Board and employees of the Administration, shall be funded and paid for from the fund created under .

Pub. L. 92–181, title V, § 585 Stat. 620 Pub. L. 99–205, title II, § 201(1)99 Stat. 1690 Pub. L. 100–233, title IV, § 431(c)101 Stat. 1659 Pub. L. 100–399, title IV, § 415(a)102 Stat. 1004 Pub. L. 101–73, title XII, § 1210103 Stat. 523 Pub. L. 117–286, § 4(c)(23)136 Stat. 4357 (.11, , ; , , ; , title VIII, § 805(x), , , 1716; , title VII, § 702(b), , , 1006; , , ; , , .)

Editorial Notes

Amendments

Pub. L. 117–2862022—Subsec. (c)(2)(C)(i). substituted “chapter 131 of title 5;” for “the Ethics in Government Act of 1978;”.

Pub. L. 101–731989—Subsec. (c)(2). amended par. (2) generally. Prior to amendment, par. (2) read as follows: “The officers and employees of the agency shall be—

2 U.S.C. 701“(A) subject to the Ethics in Government Act of 1978 ( et seq.);

“(B) considered officers or employees of the United States for the purposes of sections 201 through 203, and sections 205 through 209, of title 18; and

section 5373 of title 5“(C) subject to .”

Pub. L. 100–233, § 805(x)Pub. L. 100–399, § 702(b)1988—, which directed the amendment of this section by striking out the last sentence, was repealed by . See Construction of 1988 Amendment note below.

Pub. L. 100–233, § 431(c), amended section generally, substituting subsecs. (a) to (d) for former text consisting of single undesignated paragraph.

Pub. L. 100–399, § 415(a)Subsec. (c)(2)(C). , substituted “5373” for “5315”.

Pub. L. 99–2051985— substituted provisions respecting organization of the Farm Credit Administration for provisions relating to compensation and expense allowance of the Governor of the Farm Credit Administration.

Statutory Notes and Related Subsidiaries

Effective Date of 1988 Amendment

section 415(a) of Pub. L. 100–399Pub. L. 100–233section 1001(a) of Pub. L. 100–399section 2002 of this titleAmendment by effective as if enacted immediately after enactment of , which was approved , see , set out as a note under .

Effective Date of 1985 Amendment

Pub. L. 99–205section 401 of Pub. L. 99–205section 2001 of this titleAmendment by effective thirty days after , see , set out as a note under .

Construction of 1988 Amendment

Pub. L. 100–399, title VII, § 702(b)102 Stat. 1006 section 805(x) of Pub. L. 100–233, , , provided that , cited as a credit to this section, is repealed and that this section shall be applied and administered as if such section had not been enacted.

Interim Implementation of 1985 Amendment

Pub. L. 99–205section 402 of Pub. L. 99–205section 2241 of this titleFor provisions authorizing interim implementation by Governor of Farm Credit Administration of amendments to this section by , see , set out as a note under .