A bill to provide emergency financial assistance to farm banks.
Emergency Farm Bank Assistance Act - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to use its authority under the Net Worth Certificate Act to purchase net worth certificates of certain qualified financial institutions which make more than 25 percent of their loans to farmers.
Repeals this Act after five years.
Amends the Garn-St Germain Depository Institutions Act of 1982 to extend the Net Worth Certificate Act by five years.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Housing and Community Development.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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