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COLO. SPRINGS PROD. CREDIT v. FARM CREDIT ADMIN.

Nos. 91-5077 to 91-5079.

967 F.2d 648 (1992)

COLORADO SPRINGS PRODUCTION CREDIT ASSOCIATION, et al., Appellants v. FARM CREDIT ADMINISTRATION, et al. PRODUCTION CREDIT ASSOCIATION OF SOUTHEAST MISSOURI, Appellants v. FARM CREDIT ADMINISTRATION, et al. CHATTANOOGA PRODUCTION CREDIT ASSOCIATION, et al., Appellants v. FARM CREDIT ADMINISTRATION, et al.

United States Court of Appeals, District of Columbia Circuit.

Decided June 26, 1992.

Attorney(s) appearing for the Case

Carlos C. Smith, with whom William C. Carriger, Edward D. Meyer, Chattanooga, Tenn., Jeffrey H. Howard, Washington, D.C., and Joseph C. Blanton, Jr., Sikeston, Mo., were on the joint brief, for appellants in 91-5077, 91-5078, and 91-5079.

Mark B. Stern, Attorney, Dept. of Justice, with whom Stuart M. Gerson, Asst. Atty. Gen., Jay B. Stephens, U.S. Atty., and Robert S. Greenspan, Washington, D.C., Attorney, were on the brief, for appellee, Farm Credit Admin. in 91-5077, 91-5078, and 91-5079.

Warren N. Davis, Mac Asbill, Jr., and Steuart H. Thomsen, Washington, D.C., were on the brief for appellee Farm Credit System Financial Assistance Corp. in 91-5077, 91-5078, and 91-5079.

Before: EDWARDS, SILBERMAN, and HENDERSON, Circuit Judges.

Opinion for the Court filed by Circuit Judge SILBERMAN.

SILBERMAN, Circuit Judge:

The Farm Credit System (System) is a national network of federally chartered financial institutions whose purpose is to provide credit to the country's agricultural sector. Appellants are 20 financial institutions, known as production credit associations (PCAs), that are members of the System. PCAs are small, specialized banks, privately owned in cooperative form by their borrowers...

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