Farm Credit Administration
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The Farm Credit Administration is an independent agency of the Executive Branch of the United States Government. It regulates and examines the banks, associations, and related entities of the Farm Credit System, a network of borrower-owned financial institutions that provide credit to farmers, ranchers, and agricultural and rural utility cooperatives. It derives its authority from the Farm Credit Act of 1971.[1]
It was established by the Farm Credit Act of 1933, a part of President Franklin D. Roosevelt's New Deal, to help farmers refinance mortgages over a longer time at below-market interest rates at regional and national banks. This helped farmers recover from the Dustbowl.
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