Farm Credit Banks and Associations Safety and Soundness Act of 1992

Summary

Farm Credit Banks and Associations Safety and Soundness Act of 1991 - Title I: Farm Credit System Insurance Corporation - Amends the Farm Credit Act of 1971 to state that the Farm Credit System Insurance Corporation (Corporation) shall be the statutory successor to agreements between Farm Credit System (FCS) institutions and the Farm Credit System Assistance Board. Title II: Removal of Hinderance to Mergers - Provides for geographic representation on FCS association and bank boards. Title III: Clarification of Obligation of Farm Credit Banks For Repayment of Debt Issued By Farm Credit System Assistance Corporation - Provides for capital preservation by requiring FCS institution: (1) to make annual payments to the Corporation; and (2) terminating FCS status to pay the Corporation certain estimated future payments. Sets forth provisions regarding: (1) preferred stock repayment; (2) FCS repayment obligations; (3) repayment of Treasury-paid interest; (4) transfer of obligations from associations to banks; (5) defaults; and (6) Corporation authority. Title IV: Federal Intermediate Credit Banks - Directs the Farm Credit Administration to issue an order requiring the merger of any remaining Federal intermediate credit bank with the appropriate Farm Credit Bank.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

5 official files

• Reported in House (text)

  Reported in House · EN

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Passed House amended

  summary · EN · 23 September 1992

  Open at official source

• Reported to House with amendment(s)

  summary · EN · 29 October 1991

  Open at official source

• Introduced in House

  summary · EN · 11 September 1991

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.