Farm Credit Administration

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Farm Credit Administration (FCA)

An independent agency (www.fca.gov) responsible for regulating and examining banks in the Farm Credit System, including Farmer Mac. It is funded through assessments made against the FCS institutions.
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Farm credit crisis The major reforms for the FCS began with the Farm Credit Act of 1971, which provided the FCS with an updated charter that decentralized power and decision-making in the system.
The economic collapse of the farm credit system in the mid-1980s precipitated a crisis resulting in the Farm Credit Act of 1987 (Musolf, 1991).
17 of a percentage point per year while the Farm Credit Act has a single 1.
Doug Sims, CEO of CoBank, part of the cooperatively owned Farm Credit Bank system, said provisions of the Farm Credit Act make it "increasingly difficult for a new generation of farmer-owned cooperatives .
1971: Farm Credit Act of 1971, along with amendments added in 1980, significantly expanded FCS' services including rural home mortgages, leasing services, and international and rural utility lending.
Borrowing from CoBank--The Farm Credit Act and Farm Credit Administration regulations bar CoBank from making loans to marketing cooperatives that have more than 20 percent of their voting power in the hands of non-producers or are authorized to pay dividends on member capital that exceed 10 per cent per year.
The allocation method proposed by Rabobank would have had caused a significant number of stockholders to receive more cash in the transaction if they exercised dissenters rights under the Farm Credit Act regulations rather than vote in favor of the transaction.
In accordance with the Farm Credit Act and regulations, FCS of America must, among other things: