![]() ![]() This new model follows the practice of using actual charge off data from the past few years. However, if Congress intends for Farmer Mac to operate as a publicly traded company, it may wish to consider amending (1) Farmer Mac's board structure to ensure an independent board and independent and competent audit committee and (2) the structure of Farmer Mac's Class C common stock to include a one share, one vote principle to provide the opportunity to better reflect all shareholder interests.Īs of the end of 2005, Farmer Mac has fully migrated to the new loan loss estimation model. ![]() If Congress intends for Farmer Mac to operate in a cooperative manner and maintain its current board structure of Class A and Class B stock, it may wish to consider making Farmer Mac a true cooperative entity like the Federal Home Loan Bank System, and rescind Farmer Mac's authority to issue Class C stock. Closed - Not ImplementedWhile the intent of the recommendation has not been satisfied, time or circumstances have rendered the recommendation invalid.Ĭongress has not passed any recent legislation affecting Farmer Mac. ![]()
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