Author Bert Ely

Ag Banking Farm Credit Watch: The FCS’s uninsured deposits

While the funds the FCS borrows in the capital markets through the Federal Farm Credit Banks Funding Corporation are protected from any loss by the Farm Credit System Insurance Corporation, that insurance protection does not extend to deposits held by FCS institutions.

ABA Banking Journal

In the latest Farm Credit Watch, Bert Ely highlights the notable lack of transparency around Farm Credit Administration board meetings. While government agencies are required to be open and accessible to the public except under certain circumstances, Ely raised concerns that FCA has been requiring attendees to its public virtual meetings to pre-register, which he said “represents a deliberate attempt by the regulatory body to discourage the monitoring of its actions.”

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