Farm Payments:

Evaluation of Changes in County Loan Rates

RCED-89-47BR: Published: Feb 15, 1989. Publicly Released: Feb 17, 1989.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

In response to a congressional request, GAO examined selected aspects of the Department of Agriculture's (USDA) county loan program, specifically to determine: (1) why USDA changed its loan rate calculation procedures for the individual counties; and (2) whether the changes resulted in reasonable and justifiable loan rates.

GAO found that USDA revised its county loan rate procedures to: (1) update commodity price relationships among counties; and (2) ensure consistency in price relationships between its loan program and its commodity certificates. GAO believes that: (1) USDA reasonably changed loan calculation procedures in response to changes in county commodity prices; (2) the procedural changes were not entirely responsible for the 1986 and 1987 changes to the county loan rates; and (3) the price relationships USDA used to calculate county loan rates might not reflect true current market prices and the differences in county commodity prices.

Sep 16, 2020

Sep 14, 2020

Aug 10, 2020

May 7, 2020

Apr 13, 2020

Dec 23, 2019

Dec 6, 2019

Nov 12, 2019

Oct 28, 2019

Sep 9, 2019

Looking for more? Browse all our products here