Farmer Mac I and II loans. I come before this Committee today to offer our industry's support and expertise as we work collectively to address the current and future credit concerns of rural America. The ABA is the only national trade and professional association serving the entire banking community, from the smallest banks to the largest bank holding companies. ABA members hold about 96 percent of the industry's total assets. With a nationwide network of approximately 20,000 banks and branches located in rural communities, the banking industry remains uniquely positioned as the preeminent provider of credit to rural America.
Banks provide more loans to farmers and ranchers than anyone else.
Nearly 40 cents of every dollar borrowed by farmers and rancher comes from banks. Banks have the largest rural delivery network, provide the most agricultural credit, serve the widest spectrum of agricultural borrowers, and maintain the most consistent, reliable and stable source of credit to all family farmers and ranchers and rural communities. It is the banking community that will continue to sustain a national credit infrastructure for the delivery of rural credit well into the next century. With such a vested interest in our towns and communities, the banking industry is actively seeking and finding new and creative ways to provide credit to those farmers, ranchers and businesses that meet bank regulatory standards. At the same time, we continue to struggle in our efforts to assist worthwhile projects that, for one reason or another, fail to pass these regulatory safety and soundness guidelines.