Farm Credit System: Analysis and Comment on Possible New Insurance CorporationPowers

摘要

The Farm Credit System (the System) is a government-sponsored enterprise that waschartered by Congress to ensure a stable supply of credit to agriculture. The Farm Credit System Insurance Corporation (FCSIC) maintains the Insurance Fund, which insures the prompt payment of most of the debt obligations of the System's eight banks. The objective of this report is to briefly describe our understanding of each of these possible powers, FCA's stated reasons for requesting them in 1991, and the major advantages and disadvantages the authors anticipate were Congress to authorize them. In addition, the authors reviewed unimplemented recommendations regarding the Insurance Fund that the authors made in a 1994 report to see whether they were still valid.