AMENDMENTS TO THE FARM CREDIT ACT OF 1971.

SEC. 502. AMENDMENTS TO THE FARM CREDIT ACT OF 1971. (a) Amendments to Section 1.11(a).— Section 1.11(a) of the Farm Credit Act of 1971 (12 U.S.C. 2019(a)) is amended— (1) by striking “(a) Agricultural or Aquatic Purposes” and inserting the following: “(a) Agricultural or Aquatic Purposes”; (2) by striking “(1) In general” and inserting the following: “(1) In general”; and (3) by striking “(2) Limitation on loans for basic processing and marketing operations” and inserting the following: “(2) Limitation on loans for basic processing and marketing operations”. (b) Amendment to Section 2.0(b)(8).— Section 2.0(b)(8) of such Act (12 U.S.C. 2071(b)(8)) is amended by striking “charter to” and inserting “charter, to”. (c) Amendment to Section 2.1.— Section 2.1 of such Act (12 U.S.C. 2072) is amended by striking “or stockholder” and inserting “stockholder, or agent”. (d) Amendment to Section 2.11.— Section 2.11 of such Act (12 U.S.C. 2092) is amended by striking “or stockholder” and inserting “stockholder, or agent”. (e) Amendment to Section 3.7(b).— (1) In general.— Section 3.7(b) of such Act (12 U.S.C. 2128(b)) is amended— (A) by inserting “(1)” after the subsection designation; (B) by striking “(1) a domestic” and inserting “(A) a domestic”; (C) by inserting “or products thereof” after “commodities”; (D) by striking “(2) a domestic” and inserting “(B) a domestic”; 105 STAT. 1869 (E) by striking “clause (1) of this subsection” and inserting “subparagraph (A)”; and (F) by adding at the end the following new paragraphs: “(2) A bank for cooperatives is authorized to make or participate in loans and commitments, and to extend other technical and financial assistance, to any domestic or foreign entity that is eligible for a guarantee or insurance as described in subparagraphs (A) and (B) with respect to transactions involving the Soviet Union (its successor entities or any of the individual republics of the Soviet Union) or an emerging democracy (as defined in section 1542(f) of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 5622 note)) for the export of agricultural commodities and products thereof from the United States, including (where applicable) the cost of freight, if in each case— “(A) the loan involved is unconditionally guaranteed or insured by a department, agency, bureau, board, commission, or establishment of the United States or any corporation wholly owned directly or indirectly by the United States; and “(B) the guarantee or insurance— “(i) covers at least 95 percent of the amount loaned for the purchase of the commodities or products; and “(ii) is issued on or before September 30, 1995. “(3) A bank for cooperatives is authorized to provide such services as may be customary and normal in maintaining relationships with domestic or foreign entities to facilitate the activities specified in paragraphs (1) and (2), consistent with this Act.”. (2) Conforming amendment.— Section 3.8(b)(1)(D) of such Act (12 U.S.C. 212903)(1)(D)) is amended by striking “section 3.7(f)” and inserting “subsection (b) or (f) of section 3.7”. (f) Amendments to Section 3.8.— Section 3.8 of such Act (12 U.S.C. 2129) is amended— (1) in subsection (a)(4), by striking “(4) A” and inserting “(4) a”; and (2) in subsection (b)(1), by moving subparagraph (D) 2 ems to the right so that the left margin of such subparagraph is aligned with the left margin of subparagraph (C). (g) Amendment to Section 4.28.— Section 4.28 of such Act (12 U.S.C. 2214) is amended by striking “2.17” and inserting “2.16”. (h) Amendment to Section 5.17(a)(8)(B)(ii).— Section 5.17(a)(8)(B)(ii) of such Act (12 U.S.C. 2252(a)(8)(B)(ii)) is amended by striking the last period. (i) Amendment to Section 5.35(3).— Section 5.35(3) of such Act (12 U.S.C. 2271(3)) is amended by striking “D” and inserting “E”. (j) Amendment to Section 5.58(4)(B).— Section 5.58(4)(B) of such Act (12 U.S.C. 2277a–7(4)(B)) is amended by inserting after “and the Corporation,” the following: “in any capacity,”. (k) Amendment to Section 5.65(d)(1).— Section 5.65(d)(1) of such Act (12 U.S.C. 2277a–14(d)(1)) is amended by striking “insured”. (l) Amendments to Section 6.2(d).— Section 6.2(d) of such Act (12 U.S.C. 2278a–2(d)) is amended by striking “subchapter 1” each place such term appears and inserting “subchapter I”. (m) Amendments to Section 6.23.— Section 6.23 of such Act (12 U.S.C. 2278b–3) is amended by inserting before the period at the end the following: “, except in the event of a restructuring or liquidation to a successor System institution”. 105 STAT. 1870 (n) Amendment to Section 7.11(a)(2).— Section 7.11(a)(2) of such Act (12 U.S.C. 2279e(a)(2)) is amended by striking “30 days” and inserting “60 days”.