The Farm Credit Act of 1933 () established 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) as a group of cooperative lending institutions to provide short-, intermediate-, and long-term loans for agricultural purposes. Specifically, it authorized the
Farm Credit Administration
The Farm Credit Administration is an independent agency of the federal government of the United States. Its function is to regulate the financial institutions that provide credit to farmers.
Authority
The Farm Credit Administration is an indep ...
(FCA) to create 12 Production Credit Associations (PCAs) and 12 Banks for Cooperatives (BCs) alongside the 12 established Federal Land Banks (FLBs), as well as a Central Bank for Cooperatives.
The
Farm Credit Act of 1971 recodified all previous acts governing the Farm Credit System.
See also
*
Agricultural Marketing Act of 1929
The Agricultural Marketing Act of 1929, under the administration of Herbert Hoover, established the Federal Farm Board from the Federal Farm Loan Board established by the Federal Farm Loan Act of 1916 with a revolving fund of half a billion dol ...
*
Federal Farm Loan Act
The Federal Farm Loan Act of 1916 () was a United States federal law aimed at increasing credit to rural family farmers. It did so by creating a federal farm loan board, twelve regional farm loan banks and tens of farm loan associations. The act ...
External links
*
*
*
{{US-gov-stub
1933 in the United States
1933 in law
United States federal agriculture legislation
73rd United States Congress
Farm Credit System