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Vincent G. Logan, Chairman and Chief Executive Officer

Jeffery S. Hall, Board Member

Glen R. Smith, Board Member 

MINUTES OF THE REGULAR MEETING

OF THE

FARM CREDIT ADMINISTRATION BOARD

November 9, 2023

These minutes reflect the business transacted at the November 9, 2023, Regular Meeting of the 

Farm Credit Administration Board (FCA Board) pursuant to the Government in the Sunshine Act, 

5 U.S.C. § 552b, and the regulations of the Farm Credit Administration (FCA) adopted 

thereunder.

The meeting was held at the FCA office in McLean, Virginia. The meeting began at 10:00 a.m. 

and concluded at 10:19 a.m.

Members of the Board present were:

Vincent G. Logan, Chairman and Chief Executive Officer

Jeffery S. Hall, Member

Glen R. Smith, Member

The above named constitute the full Board.

Others present included Ashley Waldron, Secretary to the Board; David Grahn, General 

Counsel; and staff of the FCA and Farm Credit System Insurance Corporation (FCSIC). There 

were eight members of the general public in attendance. (A list of Board and staff attendees is 

attached as Exhibit A.)

Chairman Logan announced that this meeting of the Board was a hybrid physical/virtual meeting.

Chairman Logan asked everyone to say the Pledge of Allegiance with him as the flag was 

displayed on the presentation screen.

Chairman Logan asked the Secretary to the Board to address technical and protocol items.

The Secretary addressed technical and protocol items.

The Secretary read a statement that announced the meeting would be conducted according to 

the requirements of the Government in the Sunshine Act.

Chairman Logan reviewed the published agenda. (A copy of the Public Announcement 

publishing the agenda for the meeting is attached as Exhibit B.)
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Mr. Hall moved to adopt the agenda as published.

Mr. Smith seconded the motion.

There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously.

Mr. Smith noted that the agenda did not include portions of the meeting that should be closed to 

the public as permitted by the Government in the Sunshine Act and therefore moved that the 

entire meeting remain open.

Mr. Hall seconded the motion.

There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously.

OPEN SESSION

Approval of Minutes

Minutes for October 12, 2023

(BM-9-NOV-23-01)

Mr. Hall moved to approve the minutes for the October 12, 2023, FCA Regular Board meeting.

Mr. Smith seconded the motion.

There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously. (BM-9-NOV-23-

01)

(A copy of the official “Board Action Item” is attached as Exhibit C.)

Reports

Office of Equal Employment Opportunity and Inclusion

Report Concerning Native Americans and Veterans

Lynn Major of the Office of Equal Employment Opportunity and Inclusion presented the 

Office of Equal Employment Opportunity and Inclusion Report Concerning Native Americans and 

Veterans.

Chairman Logan asked if there were any questions or comments from the Board.

There were no further questions or comments.

Chairman Logan read aloud a written statement. Chairman Logan requested that the 

Secretary include this statement in the minutes. (Chairman Logan’s statement is attached as 

Exhibit E.)
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New Business

Conservators and Receivers Final Rule

(BM-9-NOV-23-02)

Jason Moore of the Office of Regulatory Policy and Richard Katz of the Office of General 

Counsel presented the Conservators and Receivers Final Rule.

Chairman Logan asked if there were any questions or comments from the Board.

There being no further questions or comments, Chairman Logan asked the staff to provide their

recommendation. The staff provided their recommendation.

Chairman Logan called for a motion on the staff’s recommendation.

Mr. Smith moved to approve the staff’s recommendation regarding the Conservators and 

Receivers Final Rule.

Mr. Hall seconded the motion.

Chairman Logan asked if there was any further discussion.

There being no further discussion, Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously. (BM-9-NOV-23-

02)

(A copy of the official “Board Action Item” is attached as Exhibit D.)

ADJOURNMENT

There being no further business to come before the Board, Chairman Logan indicated he would 

entertain a motion to adjourn the meeting.

Mr. Hall moved that the meeting be adjourned.

Mr. Smith seconded the motion.

Chairman Logan called the question.

The Secretary polled the Board Members and the motion carried unanimously.

The meeting adjourned at 10:19 a.m.

NOTATIONAL VOTE ACTIONS

There were two notational vote actions approved by the FCA Board from October 12, 2023,

through November 8, 2023.

Item 

Number

Action 

Date

Voting 

Results

Subject

NV 23-33 10/16/2023 Approved System Institution Request to Call its Preferred Stock

NV 23-34 10/23/2023 Approved Amendment of Plan of Liquidation with Loan Portfolio Sale from 

Delta Agricultural Credit Association
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The undersigned hereby certify that the foregoing minutes are the official minutes of the Regular 

Meeting of the Farm Credit Administration Board held on November 9, 2023.

___________/s/____________

Vincent G. Logan

Chairman and Chief Executive Officer

___________/s/____________

Ashley Waldron

Secretary to the Board

Approved: December 14, 2023
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Exhibit A 

BOARD AND STAFF PRESENT AT THE 

FCA REGULAR BOARD MEETING 

November 9, 2023

Vincent G. Logan, Chairman and Chief Executive Officer

Jeffery S. Hall, Board Member

Glen R. Smith, Board Member

ATTENDEES OPEN 

SESSION 

Office of the Board

Logan, Vincent X

Hall, Jeffery X

Smith, Glen X

Lund, Zachary X

Donner, Mary Alice X

Stokke, Michael X

Greer, Kristin X

Calhoun, Gaye X

Lewandrowski, Barbara X

Waldron, Ashley X

Hoffman, Bill X

OCOS

Duran, Maribel X

Coleman, Robert X

Cunningham, Lesley X

OEEOI

Major, Sara Lynn X

OIT

Versace, Jerry X

Matos, Ricardo X

Rana, Ben X

OCPA

Middleton, Russell X

Rezendes, Andrew X

OGC

Grahn, David X

Katz, Richard X

Hunter, Karen X

OE

Duffy, Mike X

Fennewald, Dan X

Greenlee, Angela X

ODAE

D’Antoni, Jeremy X

Iannetta, Sal X

OIG

Laguarda, Wendy X

Miller, Kevin X
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ATTENDEES OPEN 

SESSION

OSMO

Fay, Thomas X

Balsawer, Peggy X

ORP

Kramp, Kevin X

Agans, Autumn X

Moore, Jason X

OCFO

Walters, Sandi X

Gandy, Doug X

OAS

Bell, Vonda X

Clark, Patrina X

FCSIC

Simonson, John X

Grimaldi, Andrew X

GENERAL PUBLIC 8
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Exhibit B 

Farm Credit Administration 1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

PUBLIC ANNOUNCEMENT OF 

MEETING SUBJECT TO THE GOVERNMENT IN THE SUNSHINE ACT

Farm Credit Administration Board 

Regular Meeting 

November 9, 2023 

TIME AND DATE: 9:00 a.m., Thursday, November 9, 2023. 

PLACE: You may observe this meeting in person at 1501 Farm Credit Drive, McLean, 

Virginia 22102-5090, or virtually. If you would like to observe, at least 24 hours in advance, 

visit FCA.gov, select “Newsroom,” then select “Events.” From there, access the linked 

“Instructions for board meeting visitors” and complete the described registration process.

STATUS: This meeting will be open to the public.

MATTERS TO BE CONSIDERED: The following matters will be considered:

• Approval of Minutes for October 12, 2023 

• Office of Equal Employment Opportunity and Inclusion Report Concerning Native 

Americans and Veterans

• Conservators and Receivers Final Rule

CONTACT PERSON FOR MORE INFORMATION: If you need more information or assistance 

for accessibility reasons, or have questions, contact Ashley Waldron, Secretary to the Board. 

Telephone: 703-883-4009. TTY: 703-883-4056.

___________/s/___________

Ashley Waldron

Secretary to the Board

October 31, 2023
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Exhibit C 

Farm Credit Administration

BOARD ACTION ITEM

1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

FCA BOARD ACTION ON

Minutes for October 12, 2023 

BM-9-NOV-23-01 

Effective Date: November 9, 2023 

Impact on Prior Board Actions: None

THE FCA BOARD HEREBY:

• Approves the minutes for October 12, 2023. 

DATED THIS 9th DAY OF NOVEMBER 2023 

BY ORDER OF THE BOARD

___________/s/___________

Ashley Waldron

Secretary to the Board
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Exhibit D

Farm Credit Administration 

BOARD ACTION ITEM

1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

FCA BOARD ACTION ON

Conservators and Receivers Final Rule

BM-9-NOV-23-02 

Effective Date: November 9, 2023

Impact on Prior Board Actions: Finalizes the proposed rule published in the Federal 

Register on April 4, 2022.1 The 60-day comment period for the proposed rule closed on June 

3, 2022.2 This final rule revises FCA regulations in 12 CFR Part 627, subparts A, B, and C, to 

implement provisions in the 2018 Farm Bill regarding FCA’s appointment of FCSIC as the 

conservator or receiver of a System bank, association, service corporation, or the Funding 

Corporation. 

THE FCA BOARD HEREBY:

• Approves the final rule that reorganizes, restructures, and revises regulations in 12 

CFR part 627 governing the appointment of the Farm Credit System Insurance 

Corporation as conservator or receiver of any distressed System institution, except 

the Federal Agricultural Mortgage Corporation, and makes conforming amendments 

to exclude bridge System banks from other regulations that apply to all other System 

institutions. 

DATED THIS 9th DAY OF NOVEMBER 2023 

BY ORDER OF THE BOARD

___________/s/___________

Ashley Waldron

Secretary to the Board

1 87 FR 19397.

2 Id. 
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Exhibit E

Statement on Farm Credit System Outreach

to Veterans and Native Americans

Vincent G. Logan

FCA Board Chairman and CEO

Farm Credit Administration Board Meeting

November 9, 2023

In November, we recognize two communities of particular importance to me and the work 

we do here at FCA – veterans and Native Americans.

November marks National Veterans and Families Month. Earlier this week, the Board had 

the opportunity to recognize the 34 armed forces veterans who now continue their service 

at FCA and FCSIC. I am pleased to have honored these individuals alongside Board Member 

Hall and Board Member Smith, and I thank them for their service. 

Yesterday, I issued a message to System institutions recognizing the work they do to serve 

veterans and encouraging them to extend outreach for lending and hiring. It is important to 

do all that we can to serve this population of heroes.

November is also Native American Heritage Month. Earlier this month, I issued a message 

to System institutions encouraging them to explore expanding both their workforce and 

customer base by further including tribal communities.

As I underscored in my message, Indian Country faces endemic challenges to credit access 

for agriculture and rural development; however, these challenges should not dissuade us 

that there is also great opportunity.

Forging these important connections will enhance the System’s fulfillment of its mission to 

serve all eligible, creditworthy potential borrowers.

Unfortunately, our original presenter, Tyler Fish, is unable to be with us today. However, we 

are grateful to the Office of Equal Employment Opportunity and Inclusion for sharing a 

message on the significance of November for both of these communities and our mission 

focus at the FCA.