Agricultural Lenders Capital Assistance Act of 1986

Summary

Agricultural Lenders Capital Assistance Act of 1986 - Amends the Federal Deposit Insurance Act to authorize the Federal Deposit Insurance Corporation to purchase net worth certificates of any qualified institution which recognizes a qualified loss on an agricultural loan, provided that the total amounts of net worth certificates shall not exceed: (1) the total qualified losses of the institution; or (2) five percent of the total assets of the institution. Prohibits a qualified institution from increasing the rate of pay or benefits provided to any officer or director during any period in which the institution has outstanding net worth certificates. Requires a qualified institution to reduce the amount of outstanding certificates by any portion of the principal amount of an agricultural loan with respect to which the institution recognized a qualified loss that is repaid by the borrower. 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 · 3 March 1986

  Open at official source

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