Powers of the Board.—

Sec. 5.9. [12 U.S.C. 2243] Powers of the Board.—The Board shall manage and administer, and establish policies for, the Farm Credit Administration. It— (1) shall approve the rules and regulations for the implementation of this Act not inconsistent with its provisions; (2) shall provide for the examination of the condition of, and general regulation of the performance of the powers, functions, and duties vested in, each institution of the Farm Credit System; (3) shall provide for the performance of all the powers and duties vested in the Farm Credit Administration; and (4) may require such reports as it deems necessary from the institutions of the Farm Credit System.