614.4100—Policies governing lending through Federal land bank associations.
(a)
Farm Credit Banks and agricultural credit banks may delegate authority to make credit decisions to Federal land bank associations that demonstrate the ability to extend and administer credit soundly, provided the association develops, implements and maintains adequate credit administration guidelines, standards, and practices.
(b)
The board of directors of each Farm Credit Bank and each agricultural credit bank lending through Federal land bank associations shall adopt policies and procedures governing the exercise of statutory and delegated authorities by such associations. Policies governing the delegated authorities shall:
(2)
Require the documented evaluation of the capability and responsibility of individuals exercising delegated authorities;
(6)
Where redelegation from the association's board to association employees is authorized, require similar control measures to be used.