SENATE BILL WOULD ALLOW FARM LOAN WRITE-DOWNS
The U.S. Senate has approved a
measure that would allow an estimated 4,200 agricultural banks
to write off loan losses over ten years.
    The measure, offered by Sen. Alan Dixon (D-Ill.), was
attached to a bill to recapitalize the Federal Savings and Loan
Insurance Corp that the Senate approved March 27.
    Dixon's amendment would permit agricultural banks -- banks
with assets of 100 mln dlrs or less and at least 25 pct of
total loans in farm loans -- to write down over ten years
agricultural loan losses incurred between 1984 and 1992.
 Reuter
