Book-entry Procedures for Federal Agricultural Mortgage Corporation Securities

概要

The Farm Credit System Reform Act of 1996 (1996 act) provides that the Federal Agricultural Mortgage Corporation (Farmer Mac) shall have access to the Federal Reserve Banks' book-entry system (Fed book- entry system). The Farm Credit Administration (FCA) is issuing a final rule authorizing the issuance of Farmer Mac securities in book-entry format. Farmer Mac will use the Fed book-entry system in connection with the issuance and settlement of its unsecured debt securities and its guaranteed securities using substantially the same procedures used by all other Government-sponsored enterprises (GSEs).