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Farm Credit Banks bailed out an ailing Omaha bank.

August 27, 1985

The boards of directors of the nation's Federal Farm Credit Banks approved the assistance plan for Federal Intermediate Credit Bank of Omaha. The bail-out plan provides for the participating banks to make a $75-million payment to the ailing Omaha institution on Sept. 1, with an additional $25 million to be provided if necessary. The funds will then be passed on to Omaha-region Production Credit Assns. that have millions of dollars in loans outstanding to farmers who cannot repay them.

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