Emergency Farm Credit Act of 1987 - Amends the Federal Deposit Insurance Act to require Federal banking agencies to permit an agricultural bank to amortize over ten years any loss on a qualified agricultural loan that the bank would otherwise be required to show on an annual financial statement for 1984 through 1988. Allows such amortization only if there is no evidence that fraud or criminal abuse by the bank led to such losses.
Requires a participating agricultural bank to maintain in its loan portfolio a percentage of agricultural loans not lower than such percentage as of January 1, 1985.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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