At its monthly meeting yesterday (March 11th), the Farm Credit Administration board received a briefing on funding conditions for the Farm Credit System.
According to the briefing, the System had $322 billion in debt outstanding as of year-end 2020, amounting to a 10.3% increase from year-end 2019.
As of year-end 2020 the System’s share of the $1.66 trillion debt market for government-sponsored enterprises (GSEs) increased to 19.4%, ranking second only to the Federal Home Loan Bank System, which held a share of 44%.
In total debt issuance for 2020, the System also ranked second only to the Federal Home Loan Bank System.
The System’s debt outstanding has increased by 25% since the end of 2016 while the overall GSE debt outstanding decreased by 15%.
The dominant influence on funding conditions for 2020 continued to be the global spread of COVID-19 and its severe economic effects, one of which was a historic level of volatility in the global financial markets.
