A bill to amend the Federal Deposit Insurance Act to establish an emergency temporary procedure to facilitate the restructuring or canceling of certain agricultural loans by agricultural banks.

Agricultural Loan Assistance Act of 1987 - Amends the Federal Deposit Insurance Act to require Federal banking agencies to permit an agricultural bank to: (1) amortize over ten years any loss on a qualified agricultural loan that the bank would otherwise be required to show on an annual financial statement for 1987 through 1991; and (2) reappraise the value of any real estate or other real or...