Farmers Home Administration.  Farm Loan Programs and Proposed Changes.

Farmers Home Administration. Farm Loan Programs and Proposed Changes.

Active / Technical Report | Accession Number: ADA290086 |

Abstract:

We are pleased to be here today to discuss the Farmers Home Administrations FmHA farm loan programs and, as you requested, to offer our views on H.R. 4906--the proposed Agricultural Credit Improvement Act of 1992. The bill, among other things, proposes the establishment of a program to aid beginning farmers and the revision of certain FmHA loan-processing procedures. Our testimony is based primarily on our recently issued report,1 which examined FmHAs direct and guaranteed farm loan programs and the agencys management of farm inventory properties from the perspective of their vulnerability to fraud, waste, abuse, and mismanagement. In summary, we concluded in our report that the federal investment in farm loans is not adequately protected and that FmHA has not been effective in improving the financial condition of borrowers so that they can obtain commercial credit, as was originally intended. KAR

Author(s):

No Author(s) Identified

Author Organization(s):

GENERAL ACCOUNTING OFFICE WASHINGTON DC RESOURCES COMMUNITY AND ECONOMIC DEVE LOPMENT DIV

Supplementary Note:

Testimony before Subcommittee on Conservation, Credit, and Rural Development , House Committee on Agriculture.

Pagination:

0012

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:

Approved For Public Release

RECORD

Collection: TR

Identifying Numbers

Report Number(s):

GAO/T-RCED-92-59

Monitor Series:

XD

Subject Terms

Joint Capability Areas:

JCA_4.2_Supply; JCA_4.2.1_Manage Supplies and Equipment; JCA_4.2.2_Inventory Management; JCA_6.4.1_Secure Information Exchange; JCA_4.7.1_Real Property Life Cycle Management; JCA_4.7_Base and Installations Support; JCA_5_Command and Control; JCA_8.2_Shape; JCA_8_Building Partnerships; JCA_5.3_Planning; JCA_6.4_Information Assurance; JCA_6_Net Centric

Communities of Interest:

No COI(s) Identified

Descriptor(s):

*MANAGEMENT PLANNING AND CONTROL, *INVESTMENTS, *FINANCIAL MANAGEMENT, *FARMS, *LEGISLATION, UNITED STATES GOVERNMENT, MODIFICATION, GUARANTEES, INVENTORY, FINANCE

Field(s)/Group(s):

Agricultural Economics, Economics and Cost Analysis, Government and Political Science

Keyword(s):

*CREDIT, FARMERS HOME ADMINISTRATION, AGRICULTURAL CREDIT IMPROVEMENT ACT OF 1992, FARM LOAN PROGRAM, H R 4906

Report Date:

1992 Apr 29