Agricultural Lender Capital Assistance Act

Summary

Agricultural Lender Capital Assistance Act - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to use its authority under the Net Worth Certificate Act to purchase net worth certificates of certain qualified financial institutions which have made more than 20 percent of their loans for agricultural purposes. Revises capital to adjusted total asset ratio requirements for such qualified institutions. Amends the Farm Credit Act of 1971 to permit the Governor of the Farm Credit Administration to temporarily: (1) reduce the capital requirements of a bank or association; and (2) provide capital worth certificates as partial payment for the purchase of foreclosed farmland or farmland mortgages. Amends the Garn-St Germain Depository Institutions Act of 1982 to extend the Net Worth Certificate Act by three years.

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1 official file

• Introduced in House

  summary · EN · 27 June 1985

  Open at official source

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