FCS institutions have not done nearly enough in recent years to support and encourage YBS farmers and ranchers, despite a statutory mandate to do so,
Browsing: Farm Credit System
Is history about to repeat itself? In rural America it just might as the Federal Reserve moves too aggressively to push up interest rates to deflate the inflation that has erupted in recent months.
During the ABA Summit, Sen. Moran (R-Kan.) reiterated his support for ECORA and other legislation intended to bolster the competitiveness of rural banks.
Bert Ely examines multiple issues, including government sponsored enterprises spending big money on marketing and branding, the accuracy of bank ranking definitions and levels of Farm Credit System lending.
This edition of Farm Credit Watch examines multiple issues, including the Farm Credit Service’s debt rating, possible Senate and House and banking and financial services committee oversight of FCA’s capital rules, and how FCA’s board should consider issuing written reports as well as releasing video recordings following its monthly meetings.
Sens. Jerry Moran (R-Kan.), John Boozman (R-Ark.), Mike Rounds (R-S.D.), Kevin Cramer (R-N.D.) and Roger Marshall (R-Kan.) today introduced S. 2202, the American Bankers Association-backed Enhancing Credit Opportunities in Rural America Act of 2021, which would end the taxation of interest earned from agricultural real estate loans.
The Farm Credit Administration has proposed a potentially dangerous relaxation of its regulation governing the appraisal procedures FCS institutions rely on in making lending decisions.
Farmers, ranchers and producers across the country have stood strong during a year of extreme economic disruption and tumult. America needs them to sustain agriculture, and they need all of the support they can get. At this time, in particular, withholding any would be irresponsible. Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa) introduced the Enhancing Credit Opportunities in Rural America (ECORA) Act of 2021 in the House of Representatives, bringing it a step closer to law.
Though the goals for passing of the reintroduced Enhancing Credit Opportunities in Rural America Act of 2021, commonly known as ECORA, haven’t changed much over the last few years, this Congress may have a better shot at leveling the playing field between farm banks and Farm Credit System lenders, ultimately giving struggling farmers and ranchers greater access to affordable credit options. ABA SVP Ed Elfmann details the importance of ECORA’s passage.