Farmer Mac Reform Act of 1995

Summary

Farmer Mac Reform Act of 1995 - Amends the Farm Credit Act of 1971 with respect to the Federal Agricultural Mortgage Corporation (Corporation) to revise the definitions of "agricultural real estate," "certified facility," and "affiliate." (Sec. 6) Includes among the Corporation's powers the authority to perform all the functions of an agricultural mortgage marketing facility, including purchase and disposition of qualified loans and issuance of guaranteed securities. (Sec. 7) Makes mandatory (existing authority is discretionary) the Federal banks' role as Corporation depositaries and fiscal agents. (Sec. 10) Repeals provisions regarding: (1) guaranteed loan reserve or subordinated participation requirements and diversified pools; and (2) certified facilities' reserves and subordinated participation interests. (Sec. 12) Encourages the inclusion of small farm loans in the agricultural mortgage secondary market. (Sec.14) Provides that State usury laws shall be superseded with regard to certain pooled agricultural loans. (Sec. 15) Extends the risk-based capital test transition period (and certain related deadlines). (Sec. 16) Revises minimum capitalization and critical capital provisions. (Sec. 19) Requires recapitalization of the Corporation to at least $25 million within a specified time period. (Sec. 20) Authorizes Farm Credit System banks or associations to issue loans for secondary market sale without voting stock or participation certificate purchase requirements, or to retire voting stock or participation certificates on already issued loans.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 15 March 1996

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• Reported in House (PDF)

  Reported in House · EN · 15 March 1996

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• Reported to House amended, Part I

  summary · EN · 4 January 1996

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• Introduced in House (text)

  Introduced in House · EN · 27 July 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 27 July 1995

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• Introduced in House

  summary · EN · 27 July 1995

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