Commercial Bank Usage of the Farm Service Agency Interest Assistance Program
AbstractThe Farm Service Agency’s (FSA) interest assistance interest assistance program allows lenders to enter into an agreement with FSA to subsidize a guaranteed farm operating loan by reducing the interest rate charged to the borrower by up to four percentage points. With fiscal 1997-2003 data, an incidental truncation model framework is used to analyze: 1) commercial bank usage of the program; and 2) intensity of commercial bank usage. The results suggest bank characteristics, farm and non-farm financial characteristics, region, and time are important factors in determining bank usage of the interest assistance program and its intensity.
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Bibliographic InfoPaper provided by Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition in its series Proceedings: 2006 Agricultural and Rural Finance Markets in Transition, October 2-3, 2006; Washington, DC with number 132773.
Date of creation: 2006
Date of revision:
government loan guarantee; interest subsidy; commercial bank; incidental truncation model; Agricultural Finance;
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- Koenig, Steven R. & Dodson, Charles B., 1998. "When Are Farm Interest Rate Subsidy Programs Most Effective?," Agricultural Information Bulletins 33693, United States Department of Agriculture, Economic Research Service.
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