Farm Credit Act of 1956: Hearings Before a Subcommittee of the Committee on Agriculture and Forestry, United States Senate, Eighty-fourth Congress, Second Session, on S. 3549, S. 3550, and S. 3564, Bills to Merge Production Credit Corporations in Federal Intermediate Credit Banks; to Provide for Retirement of Government Capital in Federal Intermediate Credit Banks; to Provide for Supervision of Production Credit Associations; and for Other Purposes. April 23, and 24, 1956
U.S. Government Printing Office, 1956 - 207 sider
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agencies agricultural amended amount approval authorized banks for cooperatives basis believe bill borrowers Budget Bureau Chairman class A stock committee Congress continue cooperative cost created credit system directors discount district dividends earnings equal existing Farm Credit Act Farm Credit Administration Farm Credit Board farmers Federal intermediate credit Federal land banks feel financing financing institutions follows give Government capital Governor held increase institutions interest intermediate credit banks investment issued legislation lending liquidation loans matter meet merged merger million OFI's operation organized outstanding ownership paid participation certificates PCA's percent period present President production credit associations production credit corporations proposed purchase question reason recommendations represent reserves retired revolving fund Senator HOLLAND Senator MUNDT serve sound statement supervision surplus Thank thing tion TOOTELL United
Side 8 - If any provision of this Act or the application thereof to any person or circumstance is held invalid, the remainder of the Act and the application of such provisions to other persons or circumstances shall not be affected thereby.
Side 4 - All patronage refunds shall be paid in the proportion that the amount of interest earned by the bank on its loans to and discounts for each production credit association or other financing institution bears to the total interest earned by the bank on all such loans and discounts outstanding during the fiscal year.
Side 169 - The exemption provided herein shall not apply with respect to any Production Credit Association or its property or income after the stock held in it by the Production Credit Corporation has been retired, or with respect to...
Side 69 - D, the Board of Governors of the Federal Reserve System hereby prescribes the following reserve balances which each member bank of the Federal Reserve System is required to maintain on deposit with the Federal Reserve Bank of its district...
Side 63 - Farm Credit Act of 1953. This act directed the Board to make recommendations to the Congress for carrying into effect the declared policy to increase borrower participation in the management, control, and ultimate ownership of the permanent system of agricultural credit made available through the banks and associations operating under the supervision of the Farm Credit Administration.
Side 5 - Act of 1933, as amended, with its endorsement, any note, draft, or other such obligation presented by such association; and to make loans and advances to any such association secured by such collateral as may be approved by the Governor of the Farm Credit Administration...
Side 170 - The last sentence of paragraph "Seventh" of section 5136 of the Revised Statutes, as amended, is further amended by inserting before the colon after the words "national mortgage associations" a comma and the following: "or obligations of the Industrial Loan Corporation".
Side 5 - The Federal intermediate credit banks, when chartered and established, shall have power, subject solely to the restrictions, limitations, and conditions contained In this Act or as may be prescribed by the Farm Credit Administration not Inconsistent with the provisions of this Act — (1) to discount for, or purchase from, any production credit...
Side 11 - A stock, preferred as to assets in the event of liquidation, may be issued only to the Governor of the Farm Credit Administration on behalf of the United States and represents the investment of the United States in such bank.
Side 5 - ... livestock; and to make loans and advances to any such financing institution secured by such collateral as may be approved by the Governor of the Farm Credit Administration; Provided, That no such loan or advance shall be made upon the security of collateral other than notes or other such obligations of farmers and ranchers eligible for discount or purchase under the provisions of this section, unless such loan or advance is made to enable the financing institution to make or carry loans for any...