Emergency Farm Credit Act of 1987

Summary

Emergency Farm Credit Act of 1987 - Amends the Federal Deposit Insurance Act to require Federal banking agencies to permit an agricultural bank to amortize over ten years any loss on a qualified agricultural loan that the bank would otherwise be required to show on an annual financial statement for 1984 through 1988. Allows such amortization only if there is no evidence that fraud or criminal abuse by the bank led to such losses. Requires a participating agricultural bank to maintain in its loan portfolio a percentage of agricultural loans not lower than such percentage as of January 1, 1985.

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Timeline

1. 28 January 1987

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 28 January 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 28 January 1987

  Open at official source

Sponsors

• Sen. Kassebaum, Nancy Landon [R-KS] · R · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Inouye, Daniel K. [D-HI] · D · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• Sen. Ford, Wendell H. [D-KY] · D · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Emergency Farm Credit Act of 1987