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CRS Disclosures

Reports provided through FCA's Consolidated Reporting System contain information that Farm Credit System institutions report in the documents they are required to file with us. FCA takes reasonable measures to ensure the quality of the information on this website. However, we make no express or implied warranty — and we assume no legal liability or responsibility — for the accuracy, correctness, or completeness of any information on this website.

On August 9, 2017, Lone Star, ACA, issued a Notification of Non-Reliance on Previously Issued Financial Statements. The notification applies to 2016 and 2017 financial statements. Affected CRS reports are not available at this time.

In 2014, Farm Credit Services (FCS) Southwest, ACA, noted a sudden significant increase in delinquencies in an identifiable portion of its retail lending portfolio. This led to the discovery that some of the institution's loans were not adequately secured or were ineligible (that is, the borrowers were not eligible to borrow from a System institution).

To reflect the impact of these issues, the institution corrected Call Report information for the periods March 31, 2013, through September 30, 2015. Financial information for prior periods should not be relied upon. On November 1, 2015, FCS Southwest became a wholly owned subsidiary of Farm Credit West, ACA.

In early 2016, certain System institutions discovered they had been misclassifying some of their loans. For example, a loan that should have been classified as a real estate mortgage was classified instead as a production loan.

Although the overall loan volume total was correct for each institution, many of the totals for individual loan types were incorrect. These errors affected the following Call Report Schedules:

  • RC.1 (lines 1.a.i through 1.a.xii)
  • RC-F1
  • RC-F2
  • RI-E

Those institutions with material errors were required to correct their December 31, 2015, Call Reports. Institutions with material errors were also required to submit corrected data for Schedule RC.1, line 1.a.i. through line 1.a.x., for December 31, 2013, and December 31, 2014.

See this spreadsheet for a list of all institutions with material errors. For each loan type for each institution, the spreadsheet shows the dollar volumes as they were originally reported, as well as the corrected data as of December 31, 2013, and December 31, 2014.

Please note that the corrected data were not incorporated into FCA's Consolidated Reporting System (CRS) reports because they would create inconsistencies between the schedules. Therefore, for the institutions in the spreadsheet, you cannot rely on CRS data in these schedules for all periods prior to December 31, 2015. For corrected data, please use the spreadsheet.

Also, as noted on page F-25 of the 2015 Annual Information Statement published by the Federal Farm Credit Banks Funding Corporation, the revisions had no impact on the System's financial position or results of operations.

Page updated: August 10, 2017