7 CFR § 761.203 - National reserves for Farm Ownership and Operating loans.

---
identifier: "/us/cfr/t7/s761.203"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "7 CFR § 761.203 - National reserves for Farm Ownership and Operating loans."
title_number: 7
title_name: "Agriculture"
section_number: "761.203"
section_name: "National reserves for Farm Ownership and Operating loans."
chapter_name: "FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE"
subchapter_number: "D"
subchapter_name: "SPECIAL PROGRAMS"
part_number: "761"
part_name: "FARM LOAN PROGRAMS; GENERAL PROGRAM ADMINISTRATION"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301 and 7 U.S.C. 1989."
regulatory_source: "72 FR 63285, Nov. 8, 2007, unless otherwise noted."
cfr_part: "761"
---


# 761.203 National reserves for Farm Ownership and Operating loans.

(a) *Reservation of funds.* At the start of each fiscal year, the National Office reserves a portion of the funds available for each direct and guaranteed loan program. These reserves enable the Agency to meet unexpected or justifiable program needs during the fiscal year.

(b) *Allocation of reserved funds.* The National Office distributes funds from the reserve to one or more State Offices to meet a program need or Agency objective.