The Farm Credit Administration board received Farm Credit Administration’s 2017 Annual Report on the Farm Credit System’s Young, Beginning, and Small Farmer Mission Performance at its Aug. 9, 2018, meeting.
Highlights from the report:
- From Dec. 31, 2016, to Dec. 31, 2017, the dollar volume of total system loans grew by 3.1%. Loan dollar volume outstanding to young farmers grew by 4.8%, to beginning farmers by 5.3% percent, and to small farmers by 2%.
- The number of total system loans outstanding declined by 3.2%. The number of loans outstanding to young farmers declined by 1.9% but remained the same for beginning farmers, and the number of loans outstanding to small farmers declined by 2.3%.
- The system’s overall new loan dollar volume declined by 0.9% in 2017. New loan dollar volume to young farmers declined by 1.5%, to beginning farmers by 1.8%, and to small farmers by 4.2%.
- The number of new loans made in 2017 dropped by 9.8% compared with 2016. The number of loans to young and small farmers dropped by 8.5%, and the number of new loans made to beginning farmers dropped by 6.8%.
Since the July 12 FCA board meeting, two notational votes have occurred. Notational votes are actions taken by the FCA board between board meetings.
- On July 20, the board approved the Fall 2018 Abstract of the Unified Agenda of Federal Regulatory and Deregulatory Actions and the Fall 2018 Regulatory Projects Plan.
- On Aug. 6, the FCA board approved a special assessment on Farm Credit System banks to cover the expenses for the Farm Credit Administration building.
Source: Farm Credit Administration