H.R.5497 - Farm Credit System Borrower Interest Rate Relief Act of 198699th Congress (1985-1986)
|Sponsor:||Rep. Jones, Ed [D-TN-8] (Introduced 09/10/1986)|
|Committees:||House - Agriculture|
|Latest Action:||09/29/1986 Unfavorable Executive Comment Received From FCA. (All Actions)|
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Summary: H.R.5497 — 99th Congress (1985-1986)All Bill Information (Except Text)
Introduced in House (09/10/1986)
Farm Credit System Borrower Interest Rate Relief Act of 1986 - States that it is the policy of the Congress that Farm Credit System (System) institutions should take steps to establish competitive interest rates based on the marginal cost of funds.
Amends the Farm Credit Act of 1971 to repeal provisions for Farm Credit Administration (FCA) approval of interest rates charged by Federal land banks, Federal intermediate credit banks, and banks for cooperatives.
Prohibits the FCA from requiring System institutions to maintain capital levels by charging interest rates in excess of commercial rates.