§ 2016. Interest rates and other charges
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/usc/title-12/section-2016A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general Loans and discounts made by a Farm Credit Bank shall bear such rate or rates of interest or discount, and be on such terms and conditions, as may be determined by the board of directors of the bank from time to time.
(b)Setting rates and charges In setting rates and charges, it shall be the objective to provide the types of credit needed by eligible borrowers at the lowest reasonable costs on a sound business basis taking into consideration the cost of money to the bank, necessary reserve and expenses of the bank and associations, and providing services to members. The loan documents or discounting and financing agreements, may provide for the interest rate or rates to vary from time to time during the repayment period of the loan or agreement.
(Pub. L. 92–181, title I, § 1.8, as added Pub. L. 100–233, title IV, § 401, Jan. 6, 1988, 101 Stat. 1626; amended Pub. L. 100–399, title IV, § 401(g), Aug. 17, 1988, 102 Stat. 996.)
Connections4 cite this · traces to 1
Cited by 4 sections
statutes-at-large
- Public Law 96–592To amend the Farm Credit Act of 1971 to permit Farm Credit System institutions to improve their services to borrowers, and for other purposes
- Public Law 100–399To make technical corrections to the agricultural credit laws
- Public Law 100–233To provide credit assistance to farmers, to strengthen the Farm Credit System, to facilitate the establishment of secondary markets for agricultural loans, and for other purposes
statute-compilations
Traces to 1 document
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- Pub. L. 92–181, title I, § 1
- Pub. L. 100–233, title IV, § 401
- 101 Stat. 1626
- Pub. L. 100–399, title IV, § 401(g)
- 102 Stat. 996
- 85 Stat. 586
- Pub. L. 96–592, title I, § 105
- 94 Stat. 3438
- Pub. L. 100–233, § 401
- Pub. L. 100–399
- section 401 of Pub. L. 100–233
- section 1001(b) of Pub. L. 100–399
- 101 Stat. 1622
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§ 2016
Interest rates and other charges
Stat.×3
Stat. Comp.×1
Pub. L.Pub. L. 92–181, title I, § 1
Pub. L.Pub. L. 100–233, title IV, § 401
Stat.101 Stat. 1626
Pub. L.Pub. L. 100–399, title IV, § 401(g)
Stat.102 Stat. 996
Cites 14 · showing 6Cited by 4 across 2 sources