In the United States, Generic certificates were commodity certificates used by the

Commodity Credit Corporation The Commodity Credit Corporation (CCC) is a wholly owned United States government corporation that was created in 1933 to "stabilize, support, and protect farm income and prices" (federally chartered by the CCC Charter Act of 1948 (P.L. 80-806) ...

(CCC) in the 1980s to meet payment obligations and simultaneously dispose of

commodity In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a comm ...

inventories. Farmers paid with generic certificates could trade them for commodities owned and stored by the CCC.

References

United States Department of Agriculture Agricultural subsidies {{agri-stub