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Article: Statement on signing the Farm Credit System Reform Act of 1996. (President Bill Clinton)(Transcript)
- Article from:
- Weekly Compilation of Presidential Documents
- Article date:
- February 19, 1996
CopyrightCOPYRIGHT 1996 U.S. Government Printing Office. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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February 10, 1996
Today I have approved H.R. 2029, the "Farm Credit System Reform Act of 1996," which will reform and expand the activities of the Federal Agricultural Mortgage Corporation (Farmer Mac), as well as provide regulatory relief to members of the Farm Credit System.
This bill should lower the cost of credit for farmers and ranchers by passing along the benefit of Farmer Mac's lower interest rates to local banks. Other changes also will make it more attractive for county and regional banks to participate in the Farmer Mac program, which will link these local banks to national and international credit markets.
This bill is an example of the ...