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                    Office of the Press Secretary
                       (The Hamptons, New York)
For Immediate Release                                      July 31, 1998
                          PRESIDENT CLINTON 

The President today announced the nomination of Michael M. Reyna to serve as a Member of the Farm Credit Administration Board.

Mr. Michael M. Reyna, of Elk Grove, California, has extensive experience in agricultural finance and financial services regulation. Mr. Reyna currently serves as State Director for the United States Department of Agriculture (USDA), Office of Rural Development in California, a position he has held since 1993, which provides credit to rural communities and oversees a loan portfolio in excess of $2 billion. USDA Rural Development is responsible for providing community and economic development services to rural America. From 1989 to 1993, he was the principal committee consultant for the California State Assembly's Ways and Means Committee where he specialized in the areas of housing and economic development. From 1988 to 1989, Mr. Reyna was the principal committee consultant for the California State Legislature's Elections, Reapportionment and Constitutional Amendments Committee. From 1982 to 1988, he was the Senior Program Analyst for the California State Legislature's Legislative Analyst's Office.

Mr. Reyna received his B.A. in Business Administration from the University of Texas and a Master of Public Affairs from the University of Texas, LBJ School of Public Affairs.

The Farm Credit Administration (FCA) is a bipartisan, independent regulatory agency. Members of the Board are responsible for regulation and examination of the banks, associations and related entities that collectively comprise what is known as the Farm Credit System, including the Federal Agricultural Mortgage Corporation (Farmer Mac). Members of the Board are also responsible for protecting the interests of the public and those who borrow from farm credit institutions or invest in farm credit securities. Initially created by Executive Order of the President in 1933, the agency now derives its powers and authorities from the Farm Credit Act of 1971, as amended.