United States federal agriculture legislation United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two f ...

, the Agricultural Credit Act of 1987 () was enacted in response to the severe financial crisis of the early- to mid-1980s, which affected both farmers and their lending institutions. The Act authorized a $4 billion financial assistance package for financially vulnerable institutions of the

Farm Credit System The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $304 billion in loans, leases, and related services t ...

(FCS), protected the full value of FCS borrower stock when retired, established a permanent insurance mechanism to ensure the repayment of funds borrowed by the FCS for lending purposes, required the FCS and USDA’s Farmers Home Administration (now, the

Farm Service Agency The Farm Service Agency (FSA) is the United States Department of Agriculture agency that was formed by merging the farm loan portfolio and staff of the Farmers Home Administration (FmHA) and the Agricultural Stabilization and Conservation Service ...

) to restructure severely delinquent farm loans that met certain criteria, mandated FCS consolidation, and established a secondary market for farm real estate loans, including creation of the

Federal Agricultural Mortgage Corporation The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, publicly traded company that was chartered by the United States federal government in 1988 to serve as a secondary market in agricultural loans such ...

(Farmer Mac).

References

* {{DEFAULTSORT:Agricultural Credit Act Of 1987 United States federal agriculture legislation Farm Credit System

See also

References