Federal Farm Credit System

Federal Farm Credit System

A system chartered in 1971 through the farm credit act providing farmers with credit services through a Federal Land Bank, a Federal Intermediate Credit Bank, and a bank for cooperatives. See: Federal Farm Credit Bank.
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The formation of the Federal Farm Credit System in 1933 was a turning point.
The federal farm credit system appears to fit the bottom-line description.
Congress reaffirmed its mandate to channel credit to the agricultural sector by enacting the Agricultural Credit Act of 1987 (ACA), which recapitalized the Federal Farm Credit System after it suffered massive losses because of the farm debt crisis.(7) Embedded within the ACA was the mechanism to create the Federal Agricultural Mortgage Corporation (Farmer Mac), which allows financial institutions to sell certain agricultural and rural housing loans in a secondary market.

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