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

January 12, 2023

These minutes reflect the business transacted at the January 12, 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 began at 9:00 a.m. and concluded at 9:17 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; Clark Ogilvie, General 

Counsel; staff of the FCA; and nine members of the general public. (A list of Board and staff

attendees is attached as Exhibit A.)

Chairman Logan announced that this meeting of the Board is 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 conduct a roll call and to address technical 

and protocol items.

The Secretary conducted a roll call and 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.)

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 any 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 December 8, 2022

(BM-12-JAN-23-01)

Mr. Hall moved to approve the minutes for the December 8, 2022, 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-12-JAN23-01)

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

New Business

Advance Notice of Proposed Rulemaking – Farmer Mac Capital Framework

(BM-12-JAN-23-02)

Joe Connor of the Office of Secondary Market Oversight and Andra Grossman of the 

Office of General Counsel presented the Advance Notice of Proposed Rulemaking – Farmer Mac 

Capital Framework.

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 Advance Notice of 

Proposed Rulemaking – Farmer Mac Capital Framework.

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-12-JAN23-02) 

(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 9:17 a.m.

NOTATIONAL VOTE ACTIONS 

There were four notational vote actions approved by the FCA Board from December 8, 2022, 

through January 11, 2023. 

Item 

Number

Action 

Date

Voting 

Results

Subject

NV 22-33 12/15/2022 Approved Farm Credit Administration Budget Reallocation

NV 22-34 12/15/2022 Approved Merger of Farm Credit Midsouth, ACA and Farm Credit Mid-America, 

ACA

NV 22-35 12/15/2022 Approved Merger of Carolina Farm Credit, ACA and AgSouth Farm Credit, ACA

NV 23-01 1/10/2023 Approved Civil Money Penalties Annual Inflation Adjustment

The undersigned hereby certify that the foregoing minutes are the official minutes of the Regular 

Meeting of the Farm Credit Administration Board held on January 12, 2023.

___________/s/____________

Vincent G. Logan

Chairman and Chief Executive Officer

___________/s/____________

Ashley Waldron

Secretary to the Board

Approved: February 9, 2023
4

Exhibit A 

BOARD AND STAFF PRESENT AT THE 

FCA REGULAR BOARD MEETING 

January 12, 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

Hoffman, Bill X

Donner, Mary Alice X

Morris, James X

Greer, Kristin X

Calhoun, Gaye X

Waldron, Ashley X

COO

Coleman, Robert X

OIT

Golley, Jerry X

Versace, Jerry X

Matos, Ricardo X

Rana, Ben X

OCPA

Stokke, Mike X

Reuschel, Trevor X

Middleton, Russell X

OGC

Ogilvie, Clark X

Griffin, Ward X

Cohn, Jennifer X

Orlich, Becky X

Grossman, Andra 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

OSMO
5

ATTENDEES OPEN 

SESSION

Connor, Joe X

Hudson, Bruce X

Michel, Kevin X

ORP

Kramp, Kevin X

Agans, Autumn X

OCFO

Walters, Sandi X

Gandy, Doug X

OAS

Bell, Vonda X

Clark, Patrina X

GENERAL PUBLIC 9
6 

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 

January 12, 2023 

TIME AND DATE: 9:00 a.m., Thursday, January 12, 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 December 8, 2022, Minutes

• Advance Notice of Proposed Rulemaking – Farmer Mac Capital Framework

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

December 29, 2022
7 

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 December 8, 2022 

BM-12-JAN-23-01

Effective Date: January 12, 2023 

Impact on Prior Board Actions: None

THE FCA BOARD HEREBY:

• Approves the minutes for December 8, 2022. 

DATED THIS 12th DAY OF JANUARY 2023 

BY ORDER OF THE BOARD

___________/s/___________

Ashley Waldron

Secretary to the Board
8 

Exhibit D 

Farm Credit Administration 

BOARD ACTION ITEM

1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

FCA BOARD ACTION ON

Advance Notice of Proposed Rulemaking – Farmer Mac Capital Framework

BM-12-JAN-23-02

Effective Date: January 12, 2023

THE FCA BOARD HEREBY:

• Adopts the Advance Notice of Proposed Rulemaking requesting public comments on 

whether and how FCA should amend and strengthen the regulatory capital 

framework for the Federal Agricultural Mortgage Corporation. 

• Authorizes staff to make any technical or grammatical changes that may be 

necessary for publication in the Federal Register. 

DATED THIS 12th DAY OF JANUARY 2023

BY ORDER OF THE BOARD

___________/s/___________

Ashley Waldron

Secretary to the Board