Examinations

Each institution of the System shall be examined by Farm Credit Administration examiners at such times as the Board may determine, but in no event less than once during each 18-month period. Such examinations may include, if appropriate, but are not limited to, an analysis of credit and collateral quality and capitalization of the institution, and appraisals of the effectiveness of the institution’s management and application of policies governing the carrying out of this chapter and regulations of the Farm Credit Administration and servicing all eligible borrowers. Examination of banks shall include an analysis of the compensation paid to the chief executive officer and the salary scales of the employees of the bank. At the direction of the Board, Farm Credit Administration examiners also shall make examinations of the condition of any organization, other than federally regulated financial institutions, to, for, or with which any institution of the System contemplates making a loan or discounting paper. For the purposes of this chapter, examiners of the Farm Credit Administration shall be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the National Bank Act [ 12 U.S.C. 21 et seq.], the Federal Reserve Act [ 12 U.S.C. 221 et seq.], and Federal Deposit Insurance Act [ 12 U.S.C. 1811 et seq.], and other provisions of law and shall have the same powers and privileges as are vested in such examiners by law.

( Pub. L. 92–181, title V, § 5 .19, formerly § 5.20, Dec. 10, 1971 , 85 Stat. 623 ; renumbered § 5.19 and amended Pub. L. 99–205, title II, § 203(a) , Dec. 23, 1985 , 99 Stat. 1693 ; Pub. L. 99–509, title I, § 1037 , Oct. 21, 1986 , 100 Stat. 1878 ; Pub. L. 100–233, title II, § 205(b) , title IV, § 432(b), Jan. 6, 1988 , 101 Stat. 1607 , 1661; Pub. L. 100–399, title II, § 204 , title IV, § 416(c), Aug. 17, 1988 , 102 Stat. 993 , 1004; Pub. L. 101–624, title XVIII, § 1843(b) , Nov. 28, 1990 , 104 Stat. 3836 ; Pub. L. 102–552, title V , §§ 512, 513(b), Oct. 28, 1992 , 106 Stat. 4133 , 4134; Pub. L. 104–105, title II, § 213 , Feb. 10, 1996 , 110 Stat. 175 ; Pub. L. 115–334, title V , §§ 5404, 5411(31), Dec. 20, 2018 , 132 Stat. 4676 , 4682.)