Minutes of the Main Board of the Agricultural Mortgage Corporation.
Agricultural Mortgage Corporation records
Scope and Content
Administrative / Biographical History
Following the social changes that took place after the First World War, Government identified a need for long term finance in the agricultural industry to satisfy an investment demand - not least of which was to fund the purchase by tenants of the farms which they rented. As a result, the Government set up The Agricultural Mortgage Corporation on 12 November 1928 under the Agricultural Credits Act 1928.
The shares were held by the Bank of England and the major clearing banks of the day.
AMC was only deregulated under the provisions of the Agriculture and Forestry (Financial Services) Act 1991. This came into force on 21 September 1991 following which the shareholders agreed to the sale of AMC - culminating in the acquisition of the company by Lloyds Bank in February 1993.
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