Farm Credit System seeks government aid to avoid liquidation
Wilkinson Farm Credit Administration chief warns the 37 bank, 74 billion system may face liquidation within 18 to 24 months without federal help. He notes rising losses in mortgage lending and explores multibillion dollar bailout options, including guarantees and possible direct infusion.
MENTIONED IN THIS ARTICLE
Donald E. Wilkinson
Farm Credit Administration
Wilkinson
Congress
Reagan Administration
Farm Credit
Farm Credit System faces crisis amid farm slump and lending flaws
The Farm Credit System, once a government success story, faces its worst crisis in decades due to a severe farm recession, loose organization, and overzealous lending. Regulators warn of a possible $10 to $20 billion bailout as markets react and lawmakers call for stronger oversight or federal backing.
MENTIONED IN THIS ARTICLE
Farm Credit System
United States
Congress
New York
Wayne Rasmussen
Agriculture Department
Rep. Evans
White House Doubts Extending Farm Credit Aid
The White House criticized extending federal aid to the Farm Credit System and its regulators faced claims that losses were overstated. Officials argued the system has sufficient resources to absorb the problem, disputing FDA data. Farm Credit executives predicted 350 to 400 million in losses this year, with capital stock and surpluses exceeding 8.5 billion by year end.
MENTIONED IN THIS ARTICLE
White House
Farm Credit System
The
Farm Credit Administration
Farm Policy Reform Act of 1985 outlines sweeping farm changes
A wide coalition promotes a reform act featuring fair prices through market mechanisms, mandatory production limits, set aside acreage with conservation, a unified crop disaster reserve, expanded humanitarian aid, export market promotion, domestic nutrition programs, farm debt relief, and a restructured dairy program with base production rules and farmer transfers managed by local committees.
MENTIONED IN THIS ARTICLE
ACSS
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Wilkinson Farm Credit System
Washington
America
Banks
Insurance Companies
Federal Regulatory
Donald Wilkinson
U.S. Treasury
Nature
Europe
Rep
Cooper Evans
Browa
Treasury Securities
U.S
Maury Harris
Paine Webber
Treasury
Administration
Federal Reserve Board
Federal Deposit Insurance Corp
Larry Speakes
FCA
Peter J. Carney
Farm Credit Banks Funding Corp
Alton B. Cook
Farm Credit Corporation of America
Sys
Tem
FDA
Taxloss Ventures
USDA
Women, Infants and Children
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