Purchase and sale of obligations

  1. Law
  2. USC 12
  3. Banks And Banking
  4. FARM CREDIT SYSTEM
  5. PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM
  6. Funding
  7. Purchase and sale of obligations

Checkout our iOS App for a better way to browser and research.

§2159. Purchase and sale of obligations

Each bank of the System may purchase its own obligations and the obligations of other banks of the System and may provide for the sale of obligations issued by it, consolidated obligations, or Systemwide obligations through a fiscal agent or agents, by negotiation, offer, bid, syndicate sale, and to deliver such obligations by book entry, wire transfer, or such other means as may be appropriate.

( Pub. L. 92–181, title IV, §4.8, Dec. 10, 1971, 85 Stat. 612 ; Pub. L. 99–509, title I, §1034, Oct. 21, 1986, 100 Stat. 1878 ; Pub. L. 100–233, title II, §205(a), Jan. 6, 1988, 101 Stat. 1607 ; Pub. L. 115–334, title V, §5411(18), Dec. 20, 2018, 132 Stat. 4680 .)

Amendments

2018-Pub. L. 115–334 struck out subsec. (a) designation before "Each bank" and struck out subsec. (b) which described conditions under which each bank of the System could reduce the cost of its borrowings and amortize certain capitalizations through Dec. 31, 1992.

1988-Subsec. (b). Pub. L. 100–233 substituted "December 31, 1992" for "December 31, 1988" in two places.

1986-Pub. L. 99–509 designated existing provisions as subsec. (a) and added subsec. (b).


Download our app to see the most-to-date content.