Skip to main content

Farm Credit Administration: Safety and Soundness Oversight of the Farm Credit System

GAO-02-324R Published: Feb 28, 2002. Publicly Released: Feb 28, 2002.
Jump To:
Skip to Highlights

Highlights

This report reviews the Farm Credit Administration's (FCA) oversight of the safety and soundness of the Farm Credit System (FCS). GAO found that FCA's oversight and supervision appeared to be timely, comprehensive, and effective. FCA required FCS institutions to take appropriate and timely corrective actions to address any identified weaknesses and closely monitored the institutions' compliance. FCA had special supervisory and enforcement procedures in place and used them when it found more serious weaknesses at FCS institutions. In addition, off-site monitoring efforts included timely analyses of relevant qualitative and quantitative information that allowed FCA to identify, monitor, evaluate, and proactively address risks faced by FCS institutions. FCA follows processes designed to ensure the quality and reliability of its safety and soundness examination process through periodic quality assurance reviews and the Inspector General's audits and inspection reports.

Full Report

Office of Public Affairs

Topics

Best practicesFarm creditFinancial institutionsInternal controlsPerformance measuresQuality assuranceCompliance oversightSafety and soundnessNutritionAdministrative expenses