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HR 5635 99th Congress House Agriculture and Food Accounting Agricultural credit Agriculture and Rural Affairs Farm Credit Administration Finance and Financial Sector Financial statements Government Operations and Politics Interest Interest rates

Farm Credit Act Amendments of 1986

Introduced: October 2, 1986 See on congress.gov
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 Everywhere this bill has been 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 18, 1986
Read twice and referred to the Committee on Agriculture.
Oct 6, 1986
Received in the Senate.
Oct 6, 1986
Passed House (Amended) by Voice Vote.
Oct 6, 1986
Passed/agreed to in House: Passed House (Amended) by Voice Vote.
Oct 6, 1986
Called up by House Under Suspension of Rules.
Oct 6, 1986
Placed on Union Calendar No: 577.
Oct 6, 1986
Reported to House (Amended) by House Committee on Agriculture. Report No: 99-967.
Oct 2, 1986
Ordered to be Reported.
Oct 2, 1986
Committee Consideration and Mark-up Session Held.
Oct 2, 1986
Referred to House Committee on Agriculture.
Oct 2, 1986
Introduced in House
 Plain-English summary Congressional Research Service
(Reported to House from the Committee on Agriculture with amendment, H. Rept. 99-967)

Farm Credit Act Amendments of 1986 - Amends the Farm Credit Act of 1971 to terminate the Farm Credit Administration's (FCA) prior approval authority over Farm Credit System (FCS) loan interest rates.

Authorizes FSC banks, through December 31, 1988, and subject to FCA approval, to reduce borrowing costs by capitalizing "excess" borrowing costs (amounts by which debt incurred before January 1, 1985, exceeds prevailing market rates) and loan losses and amortizing such amounts over 20 years.

Terminates FCA's prior approval authority over interest rates on FCS direct and discounted loans.

Exempts FCS banks from having to follow generally accepted accounting principles in preparing financial statements relating to amortization of capitalized costs.

What's happening now October 18, 1986

Read twice and referred to the Committee on Agriculture.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2