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Agrimarketing : October 2012
Ag Credit | Overview | continued from page 60 However, branch offices have increased 278% since 1960. The regulatory environment of Farm Credit System (FCS) also evolved substantially over the past five decades. All government funds to the FCS were repaid in 1968 mak- ing FCS wholly owned by farmer- borrowers. The Farm Credit Act of 1971 and the Farm Credit Amendments Act of 1980 helped to expand FCS services to farm-related businesses, to provide leasing services, and to engage in financing of international trade. This coincided with large increases in farm real estate lending and spikes in the farmland prices. The most stressful time for agricultural lenders was the agricultural credit crisis of the 1980s. After a decade of soaring farmland values, substantial credit availability and high inflation, the financial markets deteriorated rapidly. Source:USDA,EconomicResearchService FARM NONREAL ESTATE DEBT Figure 4. FARM REAL ESTATE DEBT Figure 3. 62 Agri Marketing October 2012 60-64 am agcredit_10.12.qrk:52-56 am machinery_10.12 10/25/12 3:10 PM Page 62
November December 2012