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Farm Credit System: Farm Credit Administration Effectively Addresses Identified Problems

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Report Type Reports and Testimonies
Report Date Jan. 7, 1994
Report No. GGD-94-14
Subject
Summary:

The Farm Credit System is a government-sponsored enterprise created by Congress to ensure a stable supply of credit to farmers. The system, which is cooperatively owned by its member-borrowers, holds about $62 billion in assets. It nearly collapsed in the mid-1980s, and the government bailout is still being repaid. This history, the large losses in the savings and loan industry, and problems in banking prompted GAO to review the regulation of the system. This report describes GAO's findings in detail.

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