Amended and Restated Market Access Agreement

The Funding Corporation and the Banks have entered into the Market Access Agreement. The Market Access Agreement establishes criteria and procedures for the Banks that provide oversight and control over a Bank's access to System funding if the creditworthiness of the Bank declines below certain agreed-upon levels. If the criteria are not met, the Market Access Agreement may require the Bank to provide certain additional information and, under specified circumstances, restrict or prohibit an individual Bank's participation in issuances of Farm Credit Debt Securities. The Market Access Agreement promotes the identification and resolution of individual Bank financial problems in a timely manner and discharges the Funding Corporation's statutory responsibility for determining conditions for each Bank's participation in each issuance of Farm Credit Debt Securities.

Under the Market Access Agreement, if certain financial criteria are not met, a Bank may be placed in one of three categories, each of which imposes certain requirements and/or restrictions on the affected Bank. The criteria under the Market Access Agreement are the Contractual Interbank Performance Agreement (CIPA) scores, the net collateral ratio, and the permanent capital ratio of a Bank. The Bank net collateral ratio is net collateral (primarily earning assets) divided by total liabilities and the Bank permanent capital ratio is primarily the Bank's common and preferred stock and surplus divided by risk-adjusted assets. The criteria standards for the net collateral ratio and the permanent capital ratio are:

	Net Collateral Ratio	Permanent Capital Ratio
Category I	<104%	<8.0%
Category II	<103%	<7.0%
Category III	<102%	<5.0%

The categories are progressively more restrictive: a "Category I" Bank is subject to additional monitoring and reporting requirements; a "Category II" Bank's ability to participate in issuances of Farm Credit Debt Securities may be curtailed; and a "Category III" Bank may not be permitted to participate in issuances of Farm Credit Debt Securities.

Amended and Restated Contractual Interbank Performance Agreement

The Banks and the Funding Corporation have also entered into the Contractual Interbank Performance Agreement, or the CIPA. Under provisions of the CIPA, a CIPA score is calculated that measures the financial condition and performance of each District using various ratios taking into account the District's capital, asset quality, earnings, interest-rate risk and liquidity. Based on these measures, the CIPA establishes an agreed-upon standard of financial condition and performance that each District must achieve and maintain. The CIPA also establishes economic incentives whereby monetary penalties are applied if the performance measures are not met.