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CED-80-12 1 (1980-01-25)

handle is hein.gao/gaobabaea0001 and id is 1 raw text is: 




BY THE COMPTROLLER GENERAL



Report To The Congress


OF THE UNITED STATES


The Farm Credit System:

Some Opportunities For Improvement





The Farm Credit System provides credit to
farmers and ranchers through three separate
banking systems. If these systems were con-
solidated, unneeded competition and over-
lapping responsibilities and services would be
eliminated and costs could potentially be
reduced.


The System has been providing credit and
services for some purposes which go beyond
agricultural needs, such as for marginal farm-
ing operations, obtaining tax advantages, and
recreational purposes. But in many cases,
farm income alone is not sufficient to make
the loan installments.

This report recommends that the Congress
require the Federal Farm Credit Board to
determine how best to consolidate the three
banking systems and to prepare legislation to
accomplish such a consolidation. The report
also recommends that the Federal Farm
Credit Board and the Governor of the Farm
Credit Administration improve lending oper-
ations and supervision.


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       CED-80-12
JANUARY 25, 1980

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