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What does the do?

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The Farm Credit System Insurance Corporation (FCSIC) is a subdivision of the Farm Credit Administration responsible for ensuring the timely payment of principal and interest on insured notes, bonds, and other obligations issued by the Farm Credit System banks. The agency manages the Farm Credit Insurance Fund, which is used to protect investors in Farm Credit System debt securities. It was established in 1988.

In FY 2024,

-$831M

in net spending was recorded by the Farm Credit System Insurance Corporation

How much does the Farm Credit System Insurance Corporation spend?

The Farm Credit System Insurance Corporation spent a net total of -$830.8 million in fiscal year (FY) 2024. The FCSIC ranked first among FCA subdivisions in net spending.
Net spending is the difference between agency spending and any financial accounts generating funds from the agency’s own activities, like fees or rent. When these funds offset all spending, net spending appears negative. Some agencies tend to operate with positive net spending while others will register negative net spending sometimes or often.

The Farm Credit System Insurance Corporation ranked first among Farm Credit Administration divisions in net spending in 2024.

FCA net spending by division, FY 2024

Like the overall federal budget, agency spending may shift over time due to population growth, changes in policy and programs, and emerging problems to address. Adjusting for inflation, the Farm Credit System Insurance Corporation’s federal spending has decreased from -$17.3 million (in 2024 dollars) in 1989 to -$830.8 million in 2024.

The Farm Credit System Insurance Corporation’s federal spending in FY 2024 was lower than in FY 1989.

Yearly federal net spending by FCSIC, adjusted for inflation (2024 dollars), FYs 1989–2024

Since 1989, the Farm Credit System Insurance Corporation's net spending has decreased by $813.5 million, while overall federal spending has increased from $2.92 trillion (in 2024 dollars) to $6.78 trillion, or 132.2%.
As a percentage of the overall federal budget, a positive number means agency net spending made up some positive share of total federal spending; a negative number means that net generated funds offset a portion of total spending. In 2024, the FCSIC offset 0.012% of all federal spending with negative net spending.

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Major legislation, internal or global economic conditions, and acute events like the COVID-19 pandemic can affect spending year to year. For example, the federal budget fluctuated during the pandemic, rising from $5.3 trillion (in 2023 dollars) in 2019 to $7.7 trillion in 2020 and $7.8 trillion in 2021.

The Farm Credit System Insurance Corporation offset 0.012% of overall federal spending in FY 2024.

Net spending by FCSIC as a share of federal spending, FYs 1989–2024

Most federal spending can be categorized as direct or indirect. Direct spending refers to money the federal government spends on budget items such as federal programs, employee salaries, and debt interest. Indirect spending refers to federal transfers to state and local governments.
In FY 2024, all of the Farm Credit System Insurance Corporation's spending was direct.
The chart below outlines all net FCSIC spending.

How did the Farm Credit System Insurance Corporation spend its budget in 2024?

Federal government net spending isolated to FCSIC, FY 2024

How many people work for the Farm Credit System Insurance Corporation?

Some 10 of the 2.31 million total civilian federal employees work for the Farm Credit System Insurance Corporation as of September 2024. This is 0% less people than the division staffed in 2010.

The number of federal employees working for the Farm Credit System Insurance Corporation has increased 0% since 2010.

Number of federal employees working for FCSIC, September 2010–2024

The Farm Credit System Insurance Corporation accounts for 0.00043% of the overall federal workforce. As the number of federal employees has changed, so too has the way the workforce is organized, with resources allocated to agencies depending on government priorities. The division constituted a smaller share of the overall federal workforce in September 2024 compared to 2010 (0.00047%).
While the number of employees on an agency’s payroll contributes to that agency’s expenditures, some agencies have relatively few employees compared to their budget or vice versa, giving them an outsized share of either the budget or the workforce. According to the most recent data, the Farm Credit System Insurance Corporation's share of the workforce (0.00043%) is larger than its share of the budget (-0.012%).

Who leads the Farm Credit System Insurance Corporation?

The FCSIC is led by a Chairman. This individual is nominated by the President of the United States and confirmed by the Senate. The Chairman reports to the Secretary of Agriculture. There is no fixed term for this position.

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Methodology

USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.

Page sources

USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.

  • Office of Personnel Management

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  • Office of Management and Budget and US Department of the Treasury

    Budget of the US Government and Monthly Treasury Statement

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