Loss Rate [Agriculture] Law and Legal Definition

According to 7 CFR 761.2 [Title 7 – Agriculture, Subtitle B - Regulations of the Department of Agriculture, Chapter VII - Farm Service Agency, Department of Agriculture, Subchapter D - Special Programs, Part 761 - General Program Administration, Subpart A - General Provisions], loss rate is “the net amount of loan loss claims paid on FSA guaranteed loans made in the previous 7 years divided by the total loan amount of all such loans guaranteed during the same period.”