Farm Credit Bank of Texas
Encyclopedia
Farm Credit Bank of Texas, located in Austin, Texas
, is a wholesale financing institution that is part of the cooperatively owned nationwide Farm Credit System
. The Congressionally mandated mission of the Farm Credit System is to provide a stable and dependable source of financing to rural America, farmers, ranchers and those businesses that provide essential services that support rural America. The bank operates under a charter issued by the Farm Credit Administration, an independent regulatory agency within the executive branch of the federal government. The bank provides funding and related services to 19 local borrower-owned Farm Credit lending cooperatives (Agricultural Credit Associations and Federal Land Credit Associations) in Alabama
, Louisiana
, Mississippi
, New Mexico
and Texas
.
Farm Credit Bank of Texas is a federated cooperative owned by these local Farm Credit cooperatives, which directly finance rural real estate, agricultural production, country homes and agribusiness
firms. Together with the other four banks of the Farm Credit System (AgFirst
Farm Credit Bank, Columbia, South Carolina; AgriBank
FCB, St. Paul, Minnesota; CoBank
, ACB, Denver, Colorado; and U. S. AgBank, FCB, Wichta, Kansas), the bank generates funds from the issuance of debt securities in the national and international financial markets through the Federal Farm Credit Banks Funding Corporation, a joint subsidiary of the banks of the Farm Credit System. These debt securities are the joint and several liabilities of the banks of the Farm Credit System and are neither guaranteed by the federal government nor backed by the full faith and credit of the federal government. The Farm Credit Insurance Fund is available to protect investors in Farm Credit System debt securities. As of September 2008, the long-term debt of the Farm Credit System carries the ratings of AAA from Standard & Poor's Rating Service and Fitch Ratings and AAA from Moody's Investors Service. As of the same date, the Farm Credit System's short-term debt carries the ratings of A-1+, F1+ and P-1, respectively, from the three rating agencies. Complete information on the Farm Credit System's debt securities can be found at the website of the Federal Farm Credit Banks Funding Corporation.
CEO: Larry Doyle
Austin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
, is a wholesale financing institution that is part of the cooperatively owned nationwide Farm Credit System
Farm Credit System
The Farm Credit System is a federally chartered network of cooperatives and related service organizations that lends to agricultural producers, rural homeowners, farm-related businesses, and agricultural, aquatic, and public utility cooperatives in the United States...
. The Congressionally mandated mission of the Farm Credit System is to provide a stable and dependable source of financing to rural America, farmers, ranchers and those businesses that provide essential services that support rural America. The bank operates under a charter issued by the Farm Credit Administration, an independent regulatory agency within the executive branch of the federal government. The bank provides funding and related services to 19 local borrower-owned Farm Credit lending cooperatives (Agricultural Credit Associations and Federal Land Credit Associations) in Alabama
Alabama
Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...
, Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
, Mississippi
Mississippi
Mississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
, New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
and Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
.
Farm Credit Bank of Texas is a federated cooperative owned by these local Farm Credit cooperatives, which directly finance rural real estate, agricultural production, country homes and agribusiness
Agribusiness
In agriculture, agribusiness is a generic term for the various businesses involved in food production, including farming and contract farming, seed supply, agrichemicals, farm machinery, wholesale and distribution, processing, marketing, and retail sales....
firms. Together with the other four banks of the Farm Credit System (AgFirst
AgFirst
AgFirst Farm Credit Bank, headquartered in Columbia, South Carolina, provides funding and financial services to 20 Agricultural Credit Associations in 15 eastern states and Puerto Rico...
Farm Credit Bank, Columbia, South Carolina; AgriBank
AgriBank
AgriBank, FCB, is the largest of five banks within the National Farm Credit System. It oversees agricultural lending in a district that stretches from Ohio to Wyoming and Minnesota to Arkansas. From its headquarters in downtown St. Paul, Minnesota, AgriBank serves as a wholesale lender and...
FCB, St. Paul, Minnesota; CoBank
CoBank
CoBank, ACB, a part of the United States Farm Credit System, is an agricultural credit bank serving cooperatives in the agricultural sector. It lends money to farm credit associations, agricultural businesses, and rural utilities, who collectively own CoBank. It also owns 100% of Farm Credit...
, ACB, Denver, Colorado; and U. S. AgBank, FCB, Wichta, Kansas), the bank generates funds from the issuance of debt securities in the national and international financial markets through the Federal Farm Credit Banks Funding Corporation, a joint subsidiary of the banks of the Farm Credit System. These debt securities are the joint and several liabilities of the banks of the Farm Credit System and are neither guaranteed by the federal government nor backed by the full faith and credit of the federal government. The Farm Credit Insurance Fund is available to protect investors in Farm Credit System debt securities. As of September 2008, the long-term debt of the Farm Credit System carries the ratings of AAA from Standard & Poor's Rating Service and Fitch Ratings and AAA from Moody's Investors Service. As of the same date, the Farm Credit System's short-term debt carries the ratings of A-1+, F1+ and P-1, respectively, from the three rating agencies. Complete information on the Farm Credit System's debt securities can be found at the website of the Federal Farm Credit Banks Funding Corporation.
CEO: Larry Doyle