NATION

Peter J. Carney will resign as president and chief executive of Federal Farm Credit Banks Funding Corp. in June, Chairman John St. John announced Wednesday.

Carney has held the posts in the corporation, which is the funding arm of the Farm Credit System, the nation’s biggest agricultural lender, since July, 1983. He said in a telephone interview that he decided to resign, effective June 6, because he wanted a new challenge and had accomplished his goals for Farm Credit.

Carney described the parting as friendly and said he had offered to remain after June 6 as an adviser or consultant if needed.

Alan D. Fass, senior vice president-finance, was named to take over the day-to-day operations of the organization pending selection of a new president and chief executive, St. John said.