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128980 1 (1986-01-30)

handle is hein.gao/gaobactpd0001 and id is 1 raw text is: 



             United States General  Accounting Office
                     Washington,  D.C.  20548

                                         FOR RELEASE ON DELIVERY
                                         EXPECTED AT 10:00 A.M.
  128980                                 JANUARY 30, 1986
                           STATEMENT  OF
                         BRIAN P. CROWLEY
                    SENIOR ASSOCIATE  DIRECTOR
     RESOURCES, COMMUNITY, AND ECONOMIC  DEVELOPMENT DIVISION
                            BEFORE THE
     SENATE COMMITTEE ON AGRICULTURE, NUTRITION,  AND FORESTRY
                              ON THE
                       FINANCIAL CONDITION
               OF THE FARMERS HOME ADMINISTRATION'S
                 LOAN PORTFOLIO AND  ITS BORROWERS



Mr. Chairman and Members of the Committee:

     We are here today at your  invitation to discuss two reports

issued .to you earlier this month on work we did at your request

at the U.S. Department of Agriculture's  (USDA) Farmers Home

Administration (FmHA).

     As you know, Mr. Chairman, your  letter of September 6, 1985,

to us expressed concern over the American  farmers' growing reli-

ance on the resources of FmHA.  You noted  that FmHA's outstanding

farm loan portfolio had increased from about  $6 billion in 1978

to almost $28 billion in 1985.  With the Congress  addressing the

issue of financial stress in U.S. agriculture,  including FmHA's

future role in assisting farmers, you  asked us to provide this

Committee with both national and state  information on

     --total farm debt and FmHA's portion of  that tota',

     --total number of loans and borrowers  and loan amoun ts for

       each of FmHA's major farmer programs,  and

     --delinquencies and loan losses occurring  in these programs.

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