* "The Role of the
Farm Credit System," by George D.
Treasury $ 2.25 billion $ 2.25 billion lending Exempt from SEC Yes Yes registration Profits exempt from No No federal taxes Federal Home Loan Bank System
Farm Credit System Status 12 regional banks 6 Farm Credit owned by member Banks, I Bank deposit institutions for Cooperatives and I Agricultural Credit Bank owned by borrowers Purpose Make advances Make direct loans to member banks to farmers through to encourage more co-operatives housing loans or purchase assets held in portfolio Federal Regulator Federal Housing Farm Credit Finance Board Administration (Department) Independent Independent Agency Agency Presidential board 6/14 None appoint.
One policy is fairly evident; by holding down interest rates, as it did during the aggressive expansion in the 1970s, the
farm credit system can make its loans more attractive than those of the private sector.
The report envisioned the formation of a central bank that would expand the system's services to include insurance, brokerage and related businesses not authorized in the
Farm Credit System's Congressional charter.
Farm Credit System. "2015 Annual Report." Available online: https://www.fca.gov/Download/AnnualReports/2015AnnualReport.pdf
In addition to Van Hoose's more than 25 years of experience in the
Farm Credit System, he has held positions in the U.S.
"The
Farm Credit System is chartered and tasked to serve all agriculture in all 50 states and Puerto Rico, all the time.
But Reiss pointed out that the cooperative option would remain open to the possible risk of default and the need for a bailout and that the
Farm Credit System required a bailout in 1987.
Farmer Mac and the
Farm Credit System institutions that participate in the agreements are required to hold far less capital than is otherwise required.
It exemplified farmers' rising animosity toward the
Farm Credit System (F.C.S.), a member-owned cooperative established by the government in 1916 and expanded over the years.
Part of the customer-owned, nationwide
Farm Credit System, AgriBank is primarily owned by 14 local Farm Credit Associations, which provide financial products and services to rural communities and agriculture.
This ratio includes the impact of a non-recurring distribution from the
Farm Credit System Insurance Corporation (FCSIC).
