An Act to amend the Federal Farm LoAn Act and the Farm Credit Act of 1933, as amended, and for other purposes.
PL 90-204 (S.2565), enacted 12/15/1967

6U 
PUBLIC LAW 90-204-DEC. 15, 1967 
[81 STAT. 
December 15, 1967 
[S. 2565] 
Public Law 90-204 
AN ACT 
To amend the Fedei-al Farm Loan Act and the Farm Credit Act of 1933^, as 
amended, and for other purposes. 
Agriculture, 
Loan interest 
rates, removal 
of limitations. 
Federal land 
banks. 
39 Stat. 370. 
Production 
credit associa-
tions. 
69 Stat. 663. 
Banks for coop-
eratives. 
50 Stat. 717; 
80 Stat. 334. 
Be it enacted hy the Senate and House of Representatlvefi 
of the 
United /States of America in Congress assembled^ That the Federal 
Farm I^an Act and the Farm Credit Act of 1938, as amended, are 
amended as hereinafter provided to remove the 6 per centum interest 
rate limitations therein on loans made by Federal land banks and 
banks for cooperatives; and to permit interest rates on such loans and 
on loans made by production credit associations to be determined as 
provided in such Acts of Conji^ress to cover the cost of loan funds and 
other expenses and reserves so that the lending may continue on a self-
sustaining basis. 
SEC. 2. Section 12 of the Federal Farm I^oan Act, as amended (12 
IT.S.O. T7l), relating to loans made by Federal land banks, is amended 
by substituting "such rate of interest as the board of directors of the 
bank shall from time to time determine with the approval of the 
Farm Credit Administration" for "6 per centum per annum" in para-
graph Third thereof and for "6 per centum per annum" in the first and 
second sentences of paragraph Ninth thereof. 
SEC. 3. The Farm Credit Act of 1933, as amended, is amended— 
(a) by inserting the following sentence between the present 
first and second sentences of section 23 thereof, relating to loans 
made by production credit associations (12 U.S.Cl 1131 g) : "Such 
loans shall be made on such terms and conditions, at such rates 
of interest, and with such security as may be prescribed in such 
rules and regulations."; and 
(b) by deleting from each of the second sentences in sections 
34 and 41 thereof (12 U.S.C. 1134j and 1134c), relating to loans 
made by banks for cooperatives, ", but in no case shall the rate 
of interest exceed 6 per centum per annum on the unpaid principal 
of a loan". 
Approved December 15, 1967. 
December 15, 1967 
[H.R. 480] 
Public Law 90-205 
AN ACT 
To amend the Act of October 4, 1961, relating to the acquisition of wetlands for 
conservation of migratory waterfowl, to extend for an additional eight years 
the period during which funds may be appropriated under that Act, and for 
other purposes. 
Migratory water-
fowl. 
Wetlands acqui-
sition program, 
extension. 
75 Stat. 813. 
Funds, repay-
ment. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That (a) the first 
section of the Act entitled "An Act to promote the conservation of 
migratory waterfowl by the acquisition of wetlands and other essential 
waterfowl habitat, and for other purposes", approved October 4,1961 
(16 U.S.C. 715k-3), is amended by striking out "seven-year period" 
and inserting in lieu thereof "fifteen-year period". 
(b) Section 3 of such Act of October 4,1961 (16 U.S.C. 7l5k-5), is 
amended to read as f 
ollow's: 
"SEC. 3. Funds appropriated pursuant to this Act shall be treated 
as an advance, without interest, to the migratory bird conservation 
fund. Such appropriated funds, beginning with fiscal year 1977, shall