David Grahn has been selected to be the new director of the Farm Credit Administration’s Office of Regulatory Policy.
This office is responsible for developing the regulations that govern the Farm Credit System to ensure that System institutions fulfill their mission and remain financially sound. The office is also responsible for monitoring economic trends that may create risk for System institutions and their borrowers. It also evaluates all proposals from System institutions related to debt issuances and mergers.
David joined FCA in early 2018 as associate general counsel in the Office of General Counsel. Before that, he had served the U.S. Department of Agriculture for 30 years, beginning as a law clerk and ending as associate general counsel for the International Affairs, Food Assistance, and Farm and Rural Programs Division in the Office of General Counsel.
“We selected David because of his vast experience in policymaking at USDA,” said FCA Chairman and CEO Glen Smith. “David has been working on farm bills since 1990. Also, in the short time he has been at FCA, he’s already made many valuable contributions. I’m confident that he will provide excellent leadership for our Office of Regulatory Policy, and I look forward to working with him in that capacity.”
“Shortly after joining FCA, David helped us get an important provision concerning the Farm Credit System Insurance Corporation added to the last Farm Bill,” said FCA Board Member Jeff Hall, who also serves as chairman of the Insurance Corporation. “David’s understanding of the law- and policymaking process makes him an ideal selection for the position of ORP director.”
The Farm Credit Administration is the safety and soundness regulator of the Farm Credit System. The System consists of two government-sponsored enterprises — a nationwide network of cooperative banks and associations established in 1916, and a secondary market entity known as the Federal Agricultural Mortgage Corporation (Farmer Mac) that was established in 1988. The System’s borrower-owned banks and associations provide credit to farmers, ranchers, residents of rural communities, agricultural and rural utility cooperatives, and other eligible and creditworthy borrowers. Farmer Mac provides a secondary market for agricultural real estate loans, rural housing mortgage loans, and certain rural utility loans.