THE WHITE HOUSE
Office of the Press Secretary (New York, New York) ________________________________________________________________________ For Immediate Release January 13, 2000
PRESIDENT CLINTON NAMES MICHAEL M. REYNA TO SERVE AS CHAIR OF THE FARM CREDIT ADMINISTRATION BOARD
The President announced his intent to appoint Michael M. Reyna as Chair of the Farm Credit Administration Board.
Mr. Michael M. Reyna, of Elk Grove, California, was appointed to the Farm Credit Administration Board (FCAB) in October 1998, for a term that expires in May 2004. As a member of the three-person FCAB, Mr. Reyna is responsible for policymaking, adopting regulations, and overseeing the examination and regulation of the institutions that comprise the Farm Credit System. Mr. Reyna has extensive experience in agricultural finance and financial services regulation. From 1993 to 1998, he served as State Director for the United States Department of Agriculture (USDA), Office of Rural Development in California, 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 1982 to 1993, he worked for the California State Legislature specializing in the areas of financial services regulation, housing, economic development and local government finance. Mr. Reyna was an appointed member of several local commissions, including the Sacramento City Planning Commission, of which he served as Chair in 1993.
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.