The Farm Credit System adopted a new loan plan.

A nationwide loan restructuring policy approved by directors of the Farm Credit Corp. of America and endorsed by presidents of the 37 Farm Credit banks seeks to assure a fair and consistent approach to restructuring the debt of financially stressed farmers and ranchers. The policy and guidelines “will not eliminate foreclosures, said Grant T. Lucas, chairman of the board and himself a farmer in Ceres, Calif., but it will assure that “foreclosures will be initiated only after a careful analysis indicates that foreclosure is the only remaining reasonable and least-cost alternative.”