Young, beginning, and small farmers and ranchers.

CFR · 2024-01-01 · US · Title 12

(a) Definitions. (1) For purposes of this subpart, the term “credit” includes: (i) Loans made to farmers, ranchers, and producers or harvesters of aquatic products under title I or II of the Act; and (ii) Interests in participations made to farmers, ranchers, and producers or harvesters of aquatic products under title I or II of the Act. (2) For purposes of this subpart, the term “services” includes: (i) Leases made to farmers, ranchers, and producers or harvesters of aquatic products under title I or II of the Act; and (ii) Related services to farmers, ranchers, and producers or harvesters of aquatic products under title I or II of the Act. (b) Farm Credit banks oversight. (1) Each Farm Credit Bank and Agricultural Credit Bank must adopt written policies that direct: (i) The board of each affiliated direct lender association to establish a program to provide sound and constructive credit and related services to young, beginning, and small farmers, ranchers, and producers or harvesters of aquatic products (YBS farmers and ranchers or YBS); (ii) Each affiliated direct lender association to include in its YBS program provisions ensuring coordination with other System institutions in the territory and other governmental and private sources of credit; and (iii) The bank to provide the FCA a complete and accurate annual report summarizing the YBS program operations and achievements of its affiliated direct lender associations. (2) Annually, the YBS program of each direct lender as

official document · source cfr-2024 · id 12:§ 614.4165