Ag minister defends FCC against criticism from bankers

Agriculture minister Gerry Ritz has offered a strong defence in the face of private lender criticism that Farm Credit Canada has an unfair market advantage and should be reined in. The debate was stirred up in a commentary by business-oriented think-tank C.D. Howe Institute, which argued the federal crown corporation’s mandate should limit its ability to compete with private lenders. It suggested FCC revert to a 25-year-old model of being a lender-of-last-resort for highest risk farm borrowers.