Term:
Non-recourse loan (United States)
Definition:

The non-recourse loan is the major instrument used by the Commodity Credit Corporation to support the price of programme crops. The loan is “non-recourse” because the Government has no option but to accept forfeiture of the crop in full satisfaction of the loan obligation, even when the market price of the commodity is below the loan rate.

Domain:
Industry
Source:
OECD
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