Board of Governors of the Federal Reserve System

Data Dictionary

Item Number 1590

Call confidentiality applies to FFIEC 031/041.

Data Description:

Includes all loans for the purpose of financing agricultural production, whether secured or unsecured and whether made to farm and ranch owners and operators (including tenants) or to non-farmers. Other loans to farmers are reported here with the following exclusions: (1)   Loans secured primarily by real estate (reported in "Real Estate Loans (1410)"); (2)   Loans to farmers for commercial and industrial purposes, e.g., when a farmer is operating a business enterprise as well as a farm (reported in "Commercial and Industrial Loans (1600 or item 1766 for the FR Y-9C report)"); (3)   Loans to farmers for the purpose of purchasing or carrying stocks, bonds, and other securities reported in "Other Loans for Purchasing or Carrying Securities (1570 or item 1635 for the FR Y-9C report)"); (4)   Loans to farmers secured by oil or mining production payments (reported in "Commercial and Industrial Loans (1600 or item 1766 for the FR Y-9C report)"); and (5)   Notes insured by the Farmers Home Administration and Instruments (certificates of beneficial ownership, insured note insurance contracts) representing an interest in Farmers Home Administration Insured Notes. Such notes and instruments are backed by loans which are made, serviced, and collected by the Farmers Home Administration. Holdings of these notes and instruments insured by the Farmers Home Administration are reported in "Obligations of Other U.S. Government Agencies and Corporations (0600)"or for the FR Y-9C report, reported in Schedule HC-A, item 2. (These notes were issued prior to January 1, 1975.) Except for the exclusions noted above, this item includes the following types of transactions (they are listed for descriptive purposes and may overlap to a certain extent): (1)   Loans and advances made for the purpose of financing agricultural production, including growing and storing of crops, the marketing or carrying of agricultural products by the growers thereof, and the breeding, raising, fattening, or marketing of livestock; (2)   Loans and advances made for the purpose of financing fisheries and forestries; (3)   Agricultural notes and other notes of farmers that the bank has discounted for, or purchased from, merchants and dealers, either with or without recourse to the seller; (4)   "Cotton overdrafts" to cotton farmers; (5)   Loans to farmers that are extended, serviced, and collected by a bank and guaranteed by the Farmers Home Administration or by the Small Business Administration (the SBA guarantees loans to assist victims of natural disasters); (6)   Loans and advances made to farmers for all purposes associated with the maintenance or operation of the farm as a business or a home, including (a) purchases of equipment such as tractors, other farm machinery, and farm implements; (b) purchases of private passenger automobiles and other retail consumer goods on an installment basis; and (c) provisions for the living expenses of farmers   or ranchers or their families. Loans to farmers for household, family, and other personal expenditures (including credit cards and related plans) that are not readily identifiable as being made to farmers need not be broken out of item 1975 (item 6) for inclusion in this item. NOTE: Reported in Schedule HC-B for the FR Y-9C report. COMPARABILITY: Prior to 12/31/78, item name was "Loans to Farmers". Prior to 7/6/66, W416 series includes CCC certificates of interest. Prior to 6/30/66, RCON series item name was "Other Loans to Farmers." For the UBPR series, the FDIC's Data Element name is H-FARM BAAQ Original Variable name: AFARMQ Formula: AFARMQ=AFARMQ=(FARM1+FARM2)/2 IF DT ge 19781231 THEN FARM=(RCFD1590)/1000; BAAY Original Variable name: AFARMY Formula: AFARMY=5 Quarter Averaging If QT eq 1 Then AFARMY=(FARM1+FARM2)/2; If QT eq 2 Then AFARMY=(FARM1+FARM2+FARM3)/3; If QT eq 3 Then AFARMY=(FARM1+FARM2+FARM3+FARM4)/4; If QT eq 4 Then AFARMY=(FARM1+FARM2+FARM3+FARM4+FARM5)/5; IF DT ge 19781231 THEN FARM=(RCFD1590)/1000; BAGR Original Variable name: FARM Formula: FARM=IF DT ge 19781231 THEN FARM=(RCFD1590)/1000;