1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21919Updated October 22, 2004Farm Credit Services of America Ends Attempt to Leave the Farm Credit Systemname redactedAnalyst in Agricultural PolicyResources, Science, and Industry D
2、ivisionSummaryIn an unprecedented move, an institution of the Farm Credit System (FCS) agovernment-sponsored enterprise initiated procedures on July 30, 2004, to leave theFCS and be purchased by a private company. But after much controversy, includingcongressional hearings, the board of directors of
3、 Farm Credit Services of America(FCSA) voted on October 19, 2004, to terminate its agreement with Rabobank beforeseeking approval from the Farm Credit Administration, the Systems federal regulator.FCSA is the FCS lending association serving Iowa, Nebraska, South Dakota, andWyoming. Rabobank is a pri
4、vate Dutch banking company with extensive experiencein agriculture and a growing global network. Under the plan, the loans, facilities, andemployees of FCSA would have become part of Rabobank, and new FCS charters wouldhave been issued to reestablish a System presence in the four-state region. The o
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