AUTHORITY OF FARM CREDIT ADMINISTRATION TO REGULATE FEDERAL AGRICULTURAL MORTGAGE CORPORATION.

SEC. 1840. AUTHORITY OF FARM CREDIT ADMINISTRATION TO REGULATE FEDERAL AGRICULTURAL MORTGAGE CORPORATION. Section 8.11 (12 U.S.C. 2279aa–11) is amended— (1) in subsection (a), by amending paragraph (1) to read as follows: “(1) Authority.— Notwithstanding any other provision of this Act, the Farm Credit Administration shall have the authority to— “(A) provide for the examination of the condition of the Corporation and its affiliates; and “(B) provide for the general supervision of the safe and sound performance of the powers, functions, and duties vested in the Corporation and its affiliates by this title, including through the use of the enforcement powers of the Farm Credit Administration under part C of title V.”; and (2) by adding at the end the following new subsection: “(e) Definition of Affiliate.— As used in this title, the term ‘affiliate’ shall mean an entity effectively controlled or owned by the Corporation, except that such term shall not include a certified facility or an originator (as defined in paragraphs (3) and (7), respectively, of section 8.0).”.