Farm Credit System Central Reserve Act of 1985

[AI summary unavailable — showing source text] Farm Credit System Central Reserve Act of 1985 - Amends the Farm Credit Act of 1971 to decrease the maximum amount of a loan which a Federal land bank may originate, or in which such a bank may participate with a lender that is not a Farm Credit System (FCS) institution, from 85 to 60 percent of the appraised value of the real estate security, or from 97 to 75 percent of that value as may be authorized by the Farm Credit Administration for loans guaranteed by a governmental agency. Directs the Administration to establish and maintain a central reserve for FCS which the Governor of the Administration may use to make temporary deposits and investments in financially troubled FCS banks or production credit associations. Authorizes appropriations. Provides for funding of the reserve from the proceeds of FCS notes, bonds, and debentures and from payments from FCS banks and associations. Directs the Governor to report annually to specified congressional committees and to FCS investors on the condition of such central reserve. Provides that from the date that funds are appropriated to the reserve until the later of one year after such date or the date equivalent funds are repaid to the Tr…