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 Financial Assistance Corporation |
In the late 1980s, the Farm Credit System Financial Assistance Corporation
(FAC) was chartered as an institution of the System to provide funds to financially
stressed System institutions through the issuance of bonds. The FAC funded its
activities through the issuance of $1.261 billion of FAC bonds,
guaranteed as to the payment of principal and interest by the Secretary of the
Treasury and backed by the full faith and credit of the United States. The authority
of the FAC to issue bonds terminated in 1992. The FAC bonds had maturities
of 15 years from the date of issuance. All five bond issues have been called or have matured, with the last bond maturing in June 2005. The Financial Assistance Corporation's charter was canceled by the FCA Board as of December 31, 2006.
The board of
directors and employees of the Funding Corporation served in the same capacities
for the FAC.
Return to Federal Regulator
(FCA) || Continue on to Farm Credit
Council
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