Legal corpus: the complete U.S. Code (59,740 sections, all 53 titles)

Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code
now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 ->
59,740; repo total 105,704 records. Deterministic (byte-identical rerun,
verified on Title 42's 8,356 sections); make check green. make
legal-us-code default now covers every title.

Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>

legal/us/code/title-12/chapter-11/section-1421.md

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+---
+type: "LegalText"
+title: "12 U.S.C. § 1421"
+description: "Short title"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1421"
+citation: "12 U.S.C. § 1421"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1421"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "135c8774307f06de4f117f9912d0f99704d7b16ee89c6c10e3876a1db4f7d405"
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+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1421 - Short title
+
+## Text
+
+This chapter may be cited as the “Federal Home Loan Bank Act.”
+
+(July 22, 1932, ch. 522, § 1, 47 Stat. 725.)
+
+## Notes
+
+Statutory Notes and Related Subsidiaries
+
+Short Title of 1999 AmendmentPub. L. 106–102, title VI, § 601, Nov. 12, 1999, 113 Stat. 1450, provided that: “This title [amending sections 250, 1422, 1422b, 1424, 1426, 1427, 1429, 1430, 1432, 1436, 1438, 1441b, 1464, and 1467a of this title, repealing sections 1442a and 1447 of this title, and enacting provisions set out as a note under section 1441b of this title] may be cited as the ‘Federal Home Loan Bank System Modernization Act of 1999’.”
+
+Short Title of 1993 AmendmentPub. L. 103–204, § 1(a), Dec. 17, 1993, 107 Stat. 2369, provided that: “This Act [enacting section 1447 of this title and section 8C of the Inspector General Act of 1978, Pub. L. 95–452, set out in the Appendix to Title 5, Government Organization and Employees, amending sections 1441a, 1811, 1813, 1815, 1817, 1818, 1821, 1822, 1824, 1831j, and 1831q of this title, sections 5314 and 5315 of Title 5, and sections 8D to 8G and 11 of the Inspector General Act of 1978, Pub. L. 95–452, set out in the Appendix to Title 5, enacting provisions set out as notes under sections 1441a, 1811, 1817, 1821, 1822, 1827, and 1831q of this title and section 3 of the Inspector General Act of 1978, Pub. L. 95–452, set out in the Appendix to Title 5, and amending provisions set out as notes under section 396f of Title 16, Conservation, and section 1611 of Title 43, Public Lands] may be cited as the ‘Resolution Trust Corporation Completion Act’.”
+
+Short Title of 1991 AmendmentsPub. L. 102–233, § 1, Dec. 12, 1991, 105 Stat. 1761, provided that: “This Act [enacting section 2907 of this title, amending sections 1441, 1441a, 1441b, 1786, 1818, 1821, 1821a, 1833b, 1833e, 3345, and 3348 of this title, sections 5313 and 5314 of Title 5, Government Organization and Employees, and section 11 of the Inspector General Act of 1978, Pub. L. 95–452, set out in the Appendix to Title 5, enacting provisions set out as notes under this section and sections 1441, 1441a, and 1831n of this title, and amending provisions set out as notes under sections 1437 and 1441a of this title] may be cited as the ‘Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991’.” Pub. L. 102–233, title III, § 301, Dec. 12, 1991, 105 Stat. 1767, provided that: “This title [amending sections 1441, 1441a, 1441b, 1786, 1818, 1821, 1833b, and 1833e of this title, sections 5313 and 5314 of Title 5, Government Organization and Employees, and section 11 of the Inspector General Act of 1978, Pub. L. 95–452, set out in the Appendix to Title 5, enacting provisions set out as notes under sections 1441 and 1441a of this title, and amending provisions set out as notes under sections 1437 and 1441a of this title] may be cited as the ‘Resolution Trust Corporation Thrift Depositor Protection Reform Act of 1991’.” Pub. L. 102–18, § 1, Mar. 23, 1991, 105 Stat. 58, provided that: “This Act [amending sections 1441a and 1812 of this title and enacting provisions set out as notes under section 1441a of this title] may be cited as the ‘Resolution Trust Corporation Funding Act of 1991’.”

legal/us/code/title-12/chapter-11/section-1422.md

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+---
+type: "LegalText"
+title: "12 U.S.C. § 1422"
+description: "Definitions"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1422"
+citation: "12 U.S.C. § 1422"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1422"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "9ddafd0a489100f9123ffb177faf0e87295e354ba602c9ae0e2a57fc97784dca"
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+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1422 - Definitions
+
+## Text
+
+As used in this chapter—
+
+(1) (A) Bank.— The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter.
+
+(B) Bank system.— The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director.
+
+(2) State.— The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.
+
+(3) The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.
+
+(4) The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.
+
+(5) The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
+
+(6) The term “unpaid principal,” when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus earnings or dividends apportioned or credited thereon.
+
+(7) An “amortized” or “installment” home mortgage loan shall, for the purposes of this chapter, be a home mortgage loan to be repaid or liquidated in not less than eight years by means of regular weekly, monthly, or quarterly payments made directly in reduction of the debt or upon stock or shares pledged as collateral for the repayment of such loan.
+
+(8) Savings association.— The term “savings association” has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813].
+
+(9) Insured depository institution.— The term “insured depository institution” means—
+
+(A) an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813]), and
+
+(B) except as used in sections 1441a 11 See References in Text note below. and 1441b of this title, an insured credit union (as defined in section 1752 of this title).
+
+(10) Community financial institution.— (A) In general.— The term “community financial institution” means a member—
+
+(i) the deposits of which are insured under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]; and
+
+(ii) that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
+
+(B) Adjustments.— The $1,000,000,000 limit referred to in subparagraph (A)(ii) shall be adjusted annually by the Director, based on the annual percentage increase, if any, in the Consumer Price Index for all urban consumers, as published by the Department of Labor.
+
+(11) Director.— The term “Director” means the Director of the Federal Housing Finance Agency.
+
+(12) Agency.— The term “Agency” means the Federal Housing Finance Agency, established under section 4511 of this title.
+
+(July 22, 1932, ch. 522, § 2, 47 Stat. 725; June 27, 1934, ch. 847, § 507, 48 Stat. 1264; May 28, 1935, ch. 150, § 1, 49 Stat. 293; July 14, 1952, ch. 723, § 10(c), 66 Stat. 604; Pub. L. 86–70, § 9(a), June 25, 1959, 73 Stat. 142; Pub. L. 86–624, § 5(a), July 12, 1960, 74 Stat. 411; Pub. L. 87–779, § 2(a), Oct. 9, 1962, 76 Stat. 779; Pub. L. 101–73, title VII, §§ 701(a), 710(b)(1), Aug. 9, 1989, 103 Stat. 411, 418; Pub. L. 106–102, title VI, § 602, Nov. 12, 1999, 113 Stat. 1450; Pub. L. 110–289, div. A, title II, §§ 1203, 1204(8), (10), 1211(a), July 30, 2008, 122 Stat. 2785, 2786, 2790.)
+
+## Notes
+
+Editorial Notes
+
+References in TextSection 1441a of this title, referred to in par. (9)(B), was repealed by Pub. L. 111–203, title III, § 364(b), July 21, 2010, 124 Stat. 1555. The Federal Deposit Insurance Act, referred to in par. (10)(A)(i), is act Sept. 21, 1950, ch. 967, § 2, 64 Stat. 873, which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.
+
+Amendments2008—Par. (1). Pub. L. 110–289, § 1203(1), (2), redesignated par. (2) as (1) and struck out former par. (1). Prior to amendment, text read as follows: “The terms ‘Finance Board’ and ‘Board’ mean the Federal Housing Finance Board established under section 1422a of this title.” Par. (1)(B). Pub. L. 110–289, § 1204(8), substituted “the Director” for “the Board”. Pars. (2) to (4). Pub. L. 110–289, § 1203(2), redesignated pars. (3) to (5) as (2) to (4), respectively. Former par. (2) redesignated (1). Par. (5). Pub. L. 110–289, § 1204(8), substituted “the Director” for “the Board”. Pub. L. 110–289, § 1203(2), redesignated par. (6) as (5). Former par. (5) redesignated (4). Pars. (6) to (9). Pub. L. 110–289, § 1203(2), (3), redesignated pars. (7) to (9) and (12) as (6) to (9), respectively. Former par. (6) redesignated (5). Par. (10). Pub. L. 110–289, § 1203(1), (3), redesignated par. (13) as (10) and struck out former par. (10). Prior to amendment, text read as follows: “The term ‘Chairperson’ means the Chairperson of the Board.” Par. (10)(A)(ii). Pub. L. 110–289, § 1211(a), substituted “$1,000,000,000” for “$500,000,000”. Par. (10)(B). Pub. L. 110–289, § 1211(a), substituted “$1,000,000,000” for “$500,000,000”. Pub. L. 110–289, § 1204(10), substituted “the Director” for “the Finance Board”. Pars. (11) to (13). Pub. L. 110–289, § 1203(1), (3), (4), added pars. (11) and (12), redesignated former pars. (12) and (13) as (9) and (10), respectively, and struck out former par. (11). Prior to amendment, text read as follows: “The term ‘Secretary’ means the Secretary of Housing and Urban Development.” 1999—Par. (1). Pub. L. 106–102, § 602(1), substituted “terms ‘Finance Board’ and ‘Board’ mean” for “term ‘Board’ means”. Par. (3). Pub. L. 106–102, § 602(2), added par. (3) and struck out former par. (3) which read as follows: “The term ‘State’ includes the District of Columbia, Guam, Puerto Rico, and the Virgin Islands of the United States.” Par. (13). Pub. L. 106–102, § 602(3), added par. (13). 1989—Pars. (1), (2). Pub. L. 101–73, § 701(a)(1), added pars. (1) and (2) and struck out former pars. (1) and (2) which defined “board” and “Federal Home Loan Bank”. Par. (4). Pub. L. 101–73, § 701(a)(2), which directed amendment of par. (4) by striking out “(except when used in reference to the member of the Board)” after “ ‘member’ ”, was executed by striking out “(except when used in reference to a member of the board)” as the probable intent of Congress. Par. (5). Pub. L. 101–73, § 710(b)(1), struck out “or a nonmember borrower” after “member”. Pars. (9) to (12). Pub. L. 101–73, § 701(a)(3), added pars. (9) to (12) and struck out former par. (9) which read as follows: “The term ‘nonmember borrower’ includes an institution authorized to secure advances from a Federal Home Loan Bank under the provisions of subsection (e) of section 1426 of this title.” 1962—Subsec. (6). Pub. L. 87–779 substituted “upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Board” for “upon which there is located a dwelling for not more than four families”. 1960—Subsec. (3). Pub. L. 86–624 struck out reference to Territory of Hawaii. 1959—Subsec. (3). Pub. L. 86–70 substituted “Territory of Hawaii” for “Territories of Alaska and Hawaii”. 1952—Subsec. (3). Act July 14, 1952, inserted “Guam,”. 1935—Subsec. (6). Act May 28, 1935, substituted “four families” for “three families”. 1934—Subsec. (6). Act June 27, 1934, struck out “first” before “mortgage” and inserted “or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed”.

legal/us/code/title-12/chapter-11/section-1423.md

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+---
+type: "LegalText"
+title: "12 U.S.C. § 1423"
+description: "Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1423"
+citation: "12 U.S.C. § 1423"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1423"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "abe159fe0eafa6d91e8c28381c7f79341a53baf2894a9bf1c041407eea9f6fe0"
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+text_hash: "79b640e9f38c04ee83a09499f3e65e6b81deb905c02b9eab94d344e2fc68b277"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1423 - Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names
+
+## Text
+
+(a) In general As soon as practicable the Director shall divide the continental United States, Puerto Rico, the Virgin Islands, Guam, and the Territories of Alaska and Hawaii into not less than eight nor more than twelve districts. Such districts shall be apportioned with due regard to the convenience and customary course of business of the institutions eligible to and likely to subscribe for stock of a Federal Home Loan Bank to be formed under this chapter, but no such district shall contain a fractional part of any State. The districts thus created may be readjusted and new districts may from time to time be created by the Director, not to exceed twelve in all. Such districts shall be known as Federal Home Loan Bank districts and may be designated by number. As soon as practicable the Director shall establish, in each district, a Federal Home Loan Bank at such city as may be designated by the Director. Its title shall include the name of the city at which it is established.
+
+(b) Authority to reduce districts Notwithstanding subsection (a), the number of districts may be reduced to a number less than 8—
+
+(1) pursuant to a voluntary merger between Banks, as approved pursuant to section 1446(b) of this title; or
+
+(2) pursuant to a decision by the Director to liquidate a Bank pursuant to section 4617 of this title.
+
+(July 22, 1932, ch. 522, § 3, 47 Stat. 726; July 14, 1952, ch. 723, § 10(c), 66 Stat. 604; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, §§ 1204(8), 1210, July 30, 2008, 122 Stat. 2786, 2790.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289, § 1210, designated existing provisions as subsec. (a), inserted heading, and added subsec. (b). Pub. L. 110–289, § 1204(8), substituted “the Director” for “the Board” wherever appearing. 1989—Pub. L. 101–73 substituted “Board” for “board” wherever appearing. 1952—Act July 14, 1952, inserted “Guam,” after “Virgin Islands,”.
+
+Executive Documents
+
+Admission of Alaska and Hawaii to StatehoodAlaska was admitted into the Union on Jan. 3, 1959, on issuance of Proc. No. 3269, Jan. 3, 1959, 24 F.R. 81, 73 Stat. c16, and Hawaii was admitted into the Union on Aug. 21, 1959, on issuance of Proc. No. 3309, Aug. 21, 1959, 24 F.R. 6868, 73 Stat. c74. For Alaska Statehood Law, see Pub. L. 85–508, July 7, 1958, 72 Stat. 339, set out as a note preceding section 21 of Title 48, Territories and Insular Possessions. For Hawaii Statehood Law, see Pub. L. 86–3, Mar. 18, 1959, 73 Stat. 4, set out as a note preceding section 491 of Title 48.

legal/us/code/title-12/chapter-11/section-1424.md

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+---
+type: "LegalText"
+title: "12 U.S.C. § 1424"
+description: "Eligibility for membership"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1424"
+citation: "12 U.S.C. § 1424"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1424"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "90d88df91a07acd46b4c998a67fa9c75ec2b99c223e3c30178f52e31c79b493b"
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+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1424 - Eligibility for membership
+
+## Text
+
+(a) Criteria for eligibility (1) In general Any building and loan association, savings and loan association, cooperative bank, homestead association, insurance company, savings bank, community development financial institution, or any insured depository institution (as defined in section 1422 of this title), shall be eligible to become a member of a Federal Home Loan Bank if such institution—
+
+(A) is duly organized under the laws of any State or of the United States;
+
+(B) is subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States or, in the case of a community development financial institution, is certified as a community development financial institution under the Community Development Banking and Financial Institutions Act of 1994 [12 U.S.C. 4701 et seq.].; 11 So in original. and
+
+(C) makes such home mortgage loans as, in the judgment of the Director, are long-term loans (except that in the case of a savings bank, this subparagraph applies only if, in the judgment of the Director, its time deposits, as defined in section 461 of this title, warrant its making such loans).
+
+(2) Qualified thrift lender An insured depository institution that is not a member on January 1, 1989, may become a member of a Federal Home Loan Bank only if—
+
+(A) the insured depository institution (other than a community financial institution) has at least 10 percent of its total assets in residential mortgage loans;
+
+(B) the insured depository institution’s financial condition is such that advances may be safely made to such institution; and
+
+(C) the character of its management and its home-financing policy are consistent with sound and economical home financing.
+
+(3) Certain institutions An insured depository institution commencing its initial business operations after January 1, 1989, may become a member of a Federal Home Loan Bank if it complies with regulations and orders prescribed by the Director for the 10 percent asset requirement (described in the 22 So in original. The word “the” probably should not appear. paragraph (2)) within one year after the commencement of its operations.
+
+(4) Limited exemption for community financial institutions A community financial institution that otherwise meets the requirements of paragraph (2) may become a member without regard to the percentage of its total assets that is represented by residential mortgage loans, as described in subparagraph (A) of paragraph (2).
+
+(5) Certain privately insured credit unions (A) In general Subject to the requirements of subparagraph (B), a credit union shall be treated as an insured depository institution for purposes of determining the eligibility of such credit union for membership in a Federal home loan bank under paragraphs (1), (2), and (3).
+
+(B) Certification by appropriate supervisor (i) In general For purposes of this paragraph and subject to clause (ii), a credit union which lacks Federal deposit insurance and which has applied for membership in a Federal home loan bank may be treated as meeting all the eligibility requirements for Federal deposit insurance only if the appropriate supervisor of the State in which the credit union is chartered has determined that the credit union meets all the eligibility requirements for Federal deposit insurance as of the date of the application for membership.
+
+(ii) Certification deemed valid If, in the case of any credit union to which clause (i) applies, the appropriate supervisor of the State in which such credit union is chartered fails to make a determination pursuant to such clause by the end of the 6-month period beginning on the date of the application, the credit union shall be deemed to have met the requirements of clause (i).
+
+(C) Security interests of Federal home loan bank not avoidable Notwithstanding any provision of State law authorizing a conservator or liquidating agent of a credit union to repudiate contracts, no such provision shall apply with respect to—
+
+(i) any extension of credit from any Federal home loan bank to any credit union which is a member of any such bank pursuant to this paragraph; or
+
+(ii) any security interest in the assets of such credit union securing any such extension of credit.
+
+(D) Protection for certain Federal home loan bank advances Notwithstanding any State law to the contrary, if a Bank makes an advance under section 1430 of this title to a State-chartered credit union that is not federally insured—
+
+(i) the Bank’s interest in any collateral securing such advance has the same priority and is afforded the same standing and rights that the security interest would have had if the advance had been made to a federally insured credit union; and
+
+(ii) the Bank has the same right to access such collateral that the Bank would have had if the advance had been made to a federally insured credit union.
+
+(b) Location requirement An institution eligible to become a member under this section may become a member only of, or secure advances from, the Federal Home Loan Bank of the district in which is located the institution’s principal place of business, or of the bank of a district adjoining such district, if demanded by convenience and then only with the approval of the Director.
+
+(c) Inspection and regulation requirements Notwithstanding the provisions of clause (2) of subsection (a) of this section requiring inspection and regulation under law as a condition with respect to eligibility for membership, any building and loan association which would be eligible to become a member of a Federal Home Loan Bank except for the fact that it is not subject to inspection and regulation under the banking laws or similar laws of the State in which such association is organized shall, upon subjecting itself to such inspection and regulation as the Director shall prescribe, be eligible to become a member.
+
+(July 22, 1932, ch. 522, § 4, 47 Stat. 726; June 13, 1933, ch. 64, § 3, 48 Stat. 129; Pub. L. 101–73, title VII, §§ 701(b)(1), (3)(A), 704(a), 710(b)(1), Aug. 9, 1989, 103 Stat. 412, 415, 418; Pub. L. 106–102, title VI, § 605, Nov. 12, 1999, 113 Stat. 1452; Pub. L. 110–289, div. A, title II, §§ 1204(8), 1206, July 30, 2008, 122 Stat. 2786, 2787; Pub. L. 114–94, div. G, title LXXXII, § 82001(a), Dec. 4, 2015, 129 Stat. 1795.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe Community Development Banking and Financial Institutions Act of 1994, referred to in subsec. (a)(1)(B), is subtitle A (§§ 101–121) of title I of Pub. L. 103–325, Sept. 23, 1994, 108 Stat. 2163, which is classified principally to subchapter I (§ 4701 et seq.) of chapter 47 of this title. For complete classification of subtitle A to the Code, see Short Title note set out under section 4701 of this title and Tables. Section 461 of this title, referred to in subsec. (a)(1)(C), was in the original “section 19 of the Federal Reserve Act”. Definition provisions of section 19 are classified to section 461 of this title. Other provisions of section 19 are classified to sections 142, 371b, 371b–1, 374, 374a, 463 to 466, 505, and 506 of this title.
+
+Amendments2015—Subsec. (a)(5). Pub. L. 114–94 added par. (5). 2008—Subsec. (a)(1). Pub. L. 110–289, § 1206(1), which directed insertion of “community development financial institution,” after “savings bank,”, was executed by making the insertion after “savings bank,” the first time appearing. Subsec. (a)(1)(B). Pub. L. 110–289, § 1206(2), which directed insertion of “or, in the case of a community development financial institution, is certified as a community development financial institution under the Community Development Banking and Financial Institutions Act of 1994.” after “United States,”, was executed by making the insertion after “United States” to reflect the probable intent of Congress. Subsecs. (a)(1)(C), (3), (b), (c). Pub. L. 110–289, § 1204(8), substituted “the Director” for “the Board” wherever appearing. 1999—Subsec. (a)(2) to (4). Pub. L. 106–102 inserted “(other than a community financial institution)” after “institution” in par. (2)(A), designated concluding provisions of par. (2) as par. (3), inserted heading and substituted “paragraph (2)” for “preceding sentence”, and added par. (4). 1989—Subsec. (a). Pub. L. 101–73, § 704(a), amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows: “Any building and loan association, savings and loan association, cooperative bank, homestead association, insurance company, or savings bank shall be eligible to become a member of, or a nonmember borrower of, a Federal Home Loan Bank if such institution (1) is duly organized under the laws of any State or of the United States; (2) is subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States; and (3) makes such home mortgage loans as in the judgment of the board, are long-term loans (and in the case of a savings bank if, in the judgment of the board, its time deposits, as defined in section 461 of this title, warrant its making such loans). No institution shall be eligible to become a member of, or a nonmember borrower of, a Federal Home Loan Bank if, in the judgment of the board, its financial condition is such that advances may not safely be made to such institution or the character of its management or its home-financing policy is inconsistent with sound and economical home financing, or with the purposes of this chapter.” Subsec. (b). Pub. L. 101–73, § 710(b)(1), struck out “or a nonmember borrower” after “eligible to become a member”. Pub. L. 101–73, § 701(b)(1), (3)(A), substituted “Board” for “board”. Subsec. (c). Pub. L. 101–73, § 701(b)(1), (3)(A), substituted “Board” for “board”. 1933—Subsec. (d). Act June 13, 1933, struck out subsec. (d) which provided for direct loans to homeowners. See chapter 12 (§ 1461 et seq.) of this title.

legal/us/code/title-12/chapter-11/section-1425-to-1425b.md

@@ -0,0 +1,37 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1425 to 1425b"
+description: "Repealed. Pub. L. 101–73, title VII, §§ 705, 716, 720, Aug. 9, 1989, 103 Stat. 416, 421, 423"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1425 to 1425b"
+citation: "12 U.S.C. § 1425 to 1425b"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1425...1425b"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "0d5c45752e49ef0f51aea47ad5630049680094e6c43d43903fb0e214b9aadd5c"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "bb2c921f6687f4232a6c0da7b200b3d987dfe54abe18fce22b384b0c1db44c49"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1425 to 1425b - Repealed. Pub. L. 101–73, title VII, §§ 705, 716, 720, Aug. 9, 1989, 103 Stat. 416, 421, 423
+
+## Notes
+
+Section 1425, acts July 22, 1932, ch. 522, § 5, 47 Stat. 727; Dec. 24, 1969, Pub. L. 91–152, title IV, § 416(a), 83 Stat. 401, related to limitation on lawful contract rate of interest receivable by members and nonmember borrowers, and applicability to home mortgage loans on single-family dwellings.
+
+Section 1425a, act July 22, 1932, ch. 522, § 5A, as added June 27, 1950, ch. 369, § 1, 64 Stat. 256; amended Aug. 11, 1955, ch. 783, title I, § 109(a)(3), 69 Stat. 640; Sept. 21, 1968, Pub. L. 90–505, § 4, 82 Stat. 856; Mar. 31, 1980, Pub. L. 96–221, title I, § 104(b), title IV, § 405, 94 Stat. 139, 158; Oct. 8, 1980, Pub. L. 96–399, title III, § 325(a), 94 Stat. 1648; Oct. 15, 1982, Pub. L. 97–320, title III, § 332, 96 Stat. 1504; Oct. 17, 1984, Pub. L. 98–479, title II, § 207, 98 Stat. 2235, related to liquidity requirements for savings and loan associations and other members.
+
+Section 1425b, act July 22, 1932, ch. 522, § 5B, as added Sept. 21, 1966, Pub. L. 89–597, § 4, 80 Stat. 824; amended Sept. 21, 1968, Pub. L. 90–505, § 2(c), 82 Stat. 856; Dec. 23, 1969, Pub. L. 91–151, § 2(b), 83 Stat. 372; Oct. 29, 1974, Pub. L. 93–501, title I, § 103, title III, § 303, 88 Stat. 1558, 1560; Nov. 5, 1979, Pub. L. 96–104, title II, § 203, 93 Stat. 793; Dec. 28, 1979, Pub. L. 96–161, title II, § 210, 93 Stat. 1239; Mar. 31, 1980, Pub. L. 96–221, title II, § 207(b)(7)–(9), title V, § 529, 94 Stat. 144, 168, related to rate of interest payable on deposits, shares or withdrawable accounts by members, insured institutions and other nonmember financial institutions.

legal/us/code/title-12/chapter-11/section-1426a.md

@@ -0,0 +1,101 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1426a"
+description: "Exclusion from certain requirements"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1426a"
+citation: "12 U.S.C. § 1426a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1426a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "b2661387cf38892cc844d6d8cf25b9898cb8415ea9a04d03e5902942df77bb34"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "1f9952aaf509fb2d51d440e379b2894e747eda2e3ba102c0d8af0e212263461f"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1426a - Exclusion from certain requirements
+
+## Text
+
+(a) In general The Federal Home Loan Banks shall be exempt from compliance with—
+
+(1) sections 78m(e), 78n(a), and 78n(c) of title 15, and related Commission regulations;
+
+(2) section 78o of title 15, and related Commission regulations, with respect to transactions in the capital stock of a Federal Home Loan Bank;
+
+(3) section 78q–1 of title 15, and related Commission regulations, with respect to the transfer of the securities of a Federal Home Loan Bank; and
+
+(4) the Trust Indenture Act of 1939 [15 U.S.C. 77aaa et seq.].
+
+(b) Member exemption The members of the Federal Home Loan Bank System shall be exempt from compliance with sections 78m(d), 78m(f), 78m(g), 78n(d), and 78p of title 15, and related Commission regulations, with respect to ownership of or transactions in the capital stock of the Federal Home Loan Banks by such members.
+
+(c) Exempted and Government securities (1) Capital stock The capital stock issued by each of the Federal Home Loan Banks under section 1426 of this title are—
+
+(A) exempted securities, within the meaning of section 77c(a)(2) of title 15; and
+
+(B) exempted securities, within the meaning of section 78c(a)(12)(A) of title 15, except to the extent provided in section 78oo of title 15.
+
+(2) Other obligations The debentures, bonds, and other obligations issued under section 1431 of this title are—
+
+(A) exempted securities, within the meaning of section 77c(a)(2) of title 15;
+
+(B) government securities, within the meaning of section 78c(a)(42) of title 15; and
+
+(C) government securities, within the meaning of section 80a–2(a)(16) of title 15.
+
+(3) Brokers and dealers A person (other than a Federal Home Loan Bank effecting transactions for members of the Federal Home Loan Bank System) that effects transactions in the capital stock or other obligations of a Federal Home Loan Bank, for the account of others or for that person’s own account, as applicable, is a broker or dealer, as those terms are defined in paragraphs (4) and (5), respectively, of section 78c(a) of title 15, but is excluded from the definition of—
+
+(A) the term “government securities broker” under section 78c(a)(43) of title 15; and
+
+(B) the term “government securities dealer” under section 78c(a)(44) of title 15.
+
+(d) Exemption from reporting requirements The Federal Home Loan Banks shall be exempt from periodic reporting requirements under the securities laws pertaining to the disclosure of—
+
+(1) related party transactions that occur in the ordinary course of the business of the Banks with members; and
+
+(2) the unregistered sales of equity securities.
+
+(e) Tender offers Commission rules relating to tender offers shall not apply in connection with transactions in the capital stock of the Federal Home Loan Banks.
+
+(f) Regulations (1) In general The Commission shall promulgate such rules and regulations as may be necessary or appropriate in the public interest or in furtherance of this section and the exemptions provided in this section.
+
+(2) Considerations In issuing regulations under this section, the Commission shall consider the distinctive characteristics of the Federal Home Loan Banks when evaluating—
+
+(A) the accounting treatment with respect to the payment to the Resolution Funding Corporation;
+
+(B) the role of the combined financial statements of the Federal Home Loan Banks;
+
+(C) the accounting classification of redeemable capital stock; and
+
+(D) the accounting treatment related to the joint and several nature of the obligations of the Banks.
+
+(g) Definitions As used in this section—
+
+(1) the terms “Bank”, “Federal Home Loan Bank”, “member”, and “Federal Home Loan Bank System” have the same meanings as in section 1422 of this title;
+
+(2) the term “Commission” means the Securities and Exchange Commission; and
+
+(3) the term “securities laws” has the same meaning as in section 78c(a)(47) of title 15.
+
+(Pub. L. 110–289, div. A, title II, § 1208, July 30, 2008, 122 Stat. 2788.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe Trust Indenture Act of 1939, referred to in subsec. (a)(4), is title III of act May 27, 1933, ch. 38, as added Aug. 3, 1939, ch. 411, 53 Stat. 1149, which is classified generally to subchapter III (§ 77aaa et seq.) of chapter 2A of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 77aaa of Title 15 and Tables.
+
+Codification Section was enacted as part of the Housing and Economic Recovery Act of 2008, and also as part of the Federal Housing Finance Regulatory Reform Act of 2008, and not as part of the Federal Home Loan Bank Act which comprises this chapter.

legal/us/code/title-12/chapter-11/section-1428.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1428"
+description: "Examination of State laws, regulations, and procedures; studies of values, etc."
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1428"
+citation: "12 U.S.C. § 1428"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1428"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "c0cb77c3e8f8ff79748739ef3cb843ffacbd18d6441a23dd7452a1f78569b6cb"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "1e9cc02d232523e8f6ac7e2ee77a88f548056c6f5e4b125f49384cad3c9159fe"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1428 - Examination of State laws, regulations, and procedures; studies of values, etc.
+
+## Text
+
+The Director shall cause to be made from time to time examinations of the laws of the various States of the United States and the regulations and procedure thereunder governing conditions under which institutions of the kinds which may become members or nonmember borrowers under this chapter are permitted to be formed or to do business, or relating to the conveying or recording of land titles, or to homestead and other rights, or to the enforcement of the rights of holders of mortgages on lands securing loans, or otherwise. If any such examination shall indicate, in the opinion of the Director, that under the laws of any such State or the regulations or procedure thereunder there would be inadequate protection to a Federal Home Loan Bank in making or collecting advances under this chapter, the Director may withhold or limit the operation of any Federal Home Loan Bank in such State until satisfactory conditions of law, regulation, or procedure shall be established. In any State where State examination of members or nonmember borrowers is deemed inadequate for the purposes of the Federal Home Loan Banks, the Director shall establish such examination, all or part of the cost of which may be considered as part of the cost of making advances in such State. The banks and/or the Director may make studies of trends of home and other property values, methods of appraisals, and other subjects such as they may deem useful for the general guidance of their policies and operations and those of institutions authorized to secure advances.
+
+(July 22, 1932, ch. 522, § 8, 47 Stat. 731; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), (9), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289 substituted “The Director” for “The Board” and “the Director” for “the Board” wherever appearing. 1989—Pub. L. 101–73 substituted “Board” for “board” wherever appearing.

legal/us/code/title-12/chapter-11/section-1428a.md

@@ -0,0 +1,33 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1428a"
+description: "Repealed. Pub. L. 101–73, title VII, § 718, Aug. 9, 1989, 103 Stat. 422"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1428a"
+citation: "12 U.S.C. § 1428a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1428a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "b15264ce78b066103cf8a9925a0ef750e4ac14a3df8e2047c084cb1dada1cb17"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "50fa032a284bf02e5acf238fdb5d165bc321187cc3485ce05b27fcad539bfc54"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1428a - Repealed. Pub. L. 101–73, title VII, § 718, Aug. 9, 1989, 103 Stat. 422
+
+## Notes
+
+Section, act July 22, 1932, ch. 522, § 8a, as added May 28, 1935, ch. 150, § 4, 49 Stat. 294; amended 1947 Reorg. Plan No. 3, eff. July 27, 1947, 12 F.R. 4981, 61 Stat. 954; Dec. 26, 1974, Pub. L. 93–541, § 6, 88 Stat. 1739; Oct. 15, 1982, Pub. L. 97–320, title III, § 354, 96 Stat. 1508, established Federal Savings and Loan Advisory Council.

legal/us/code/title-12/chapter-11/section-1429.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1429"
+description: "Eligibility to secure advances"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1429"
+citation: "12 U.S.C. § 1429"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1429"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "bd8c01621f8de2a5a9f1a5085465298a64e523823358b4da73c7a1993269ae96"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "34a2990fc8848931b22f3806a710de5f920e3927fce6ec8cc022f8cd5a7c9dbb"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1429 - Eligibility to secure advances
+
+## Text
+
+Any member of a Federal Home Loan Bank shall be entitled to apply in writing for advances. Such application shall be in such form as shall be required by the Federal Home Loan Bank. Such Federal Home Loan Bank may at its discretion deny any such application, or may grant it on such conditions as the Federal Home Loan Bank may prescribe.
+
+(July 22, 1932, ch. 522, § 9, 47 Stat. 731; Pub. L. 101–73, title VII, §§ 701(b)(1), (3)(A), 710(a), Aug. 9, 1989, 103 Stat. 412, 418; Pub. L. 106–102, title VI, § 606(f)(1), Nov. 12, 1999, 113 Stat. 1455.)
+
+## Notes
+
+Editorial Notes
+
+Amendments1999—Pub. L. 106–102 struck out “with the approval of the Board” after “Federal Home Loan Bank” in second sentence and struck out “, subject to the approval of the Board,” after “deny any such application, or” in third sentence. 1989—Pub. L. 101–73, § 710(a), struck out “or nonmember borrower” after “Any member”. Pub. L. 101–73, § 701(b)(1), (3)(A), substituted “Board” for “board” wherever appearing.

legal/us/code/title-12/chapter-11/section-1430a.md

@@ -0,0 +1,35 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1430a"
+description: "Omitted"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1430a"
+citation: "12 U.S.C. § 1430a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1430a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "a7edc6a1149345a8037ff18886320a134cfc7efe5d9a2b78b6f5b5e44378f521"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "490d49f56279220a8e4ba858159d460c978825c10d5eddb18ff8281582a00c2a"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1430a - Omitted
+
+## Notes
+
+Editorial Notes
+
+Codification Section, act July 22, 1932, ch. 522, § 10a, as added June 27, 1934, ch. 847, § 502, 48 Stat. 1261, provided for advances by Federal Home Loan Banks to finance home repairs, improvements, and alterations until July 1, 1936.

legal/us/code/title-12/chapter-11/section-1430b.md

@@ -0,0 +1,49 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1430b"
+description: "Advances to nonmember mortgagee; terms and conditions"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1430b"
+citation: "12 U.S.C. § 1430b"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1430b"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "d660e98e259d5bf270cf8cc35fde1446db1a646a549afc17356d677c95c9d358"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "99ea2588ee0de218cabb8e832bea311ab35e7ed8af2dd04bc181d725834f5391"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1430b - Advances to nonmember mortgagee; terms and conditions
+
+## Text
+
+(a) In general Each Federal Home Loan Bank is authorized to make advances to nonmember mortgagees approved under title II of the National Housing Act [12 U.S.C. 1707 et seq.]. Such mortgagees must be chartered institutions having succession and subject to the inspection and supervision of some governmental agency, and whose principal activity in the mortgage field must consist of lending their own funds. Such advances shall not be subject to the other provisions and restrictions of this chapter, but shall be made upon the security of insured mortgages, insured under title II of the National Housing Act. Advances made under the terms of this section shall be at such rates of interest and upon such terms and conditions as shall be determined by the Director, but no advance may be for an amount in excess of 90 per centum of the unpaid principal of the mortgage loan given as security.
+
+(b) Exception An advance made to a State housing finance agency for the purpose of facilitating mortgage lending that benefits individuals and families that meet the income requirements set forth in section 142(d) or 143(f) of title 26, need not be collateralized by a mortgage insured under title II of the National Housing Act [12 U.S.C. 1707 et seq.] or otherwise, if—
+
+(1) such advance otherwise meets the requirements of this subsection; and
+
+(2) such advance meets the requirements of section 1430(a) of this title, and any real estate collateral for such loan comprises single family or multifamily residential mortgages.
+
+(July 22, 1932, ch. 522, § 10b, as added May 25, 1935, ch. 150, § 7, 49 Stat. 295; amended Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 102–550, title XIII, § 1392(b), Oct. 28, 1992, 106 Stat. 4009; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe National Housing Act, referred to in text, is act June 27, 1934, ch. 847, 48 Stat. 1246. Title II of the Act is classified generally to subchapter II (§ 1707 et seq.) of chapter 13 of this title. For complete classification of this Act to the Code, see section 1701 of this title and Tables.
+
+Amendments2008—Subsec. (a). Pub. L. 110–289 substituted “the Director” for “the Board”. 1992—Pub. L. 102–550 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b). 1989—Pub. L. 101–73 substituted “Board” for “Federal Home Loan Bank Board”.

legal/us/code/title-12/chapter-11/section-1430c.md

@@ -0,0 +1,49 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1430c"
+description: "Housing goals"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1430c"
+citation: "12 U.S.C. § 1430c"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1430c"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "18b1b23418dbf3e81d2937c8e40840ce189c8bd77815797647301db2eabe016b"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "f2cbc12d148dae051009df4cef54038dbfd0670052a845ae4046c538322dcd50"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1430c - Housing goals
+
+## Text
+
+(a) In general The Director shall establish housing goals with respect to the purchase of mortgages, if any, by the Federal Home Loan Banks. Such goals shall be consistent with the goals established under sections 4561 through 4564 of this title.
+
+(b) Considerations In establishing the goals required by subsection (a), the Director shall consider the unique mission and ownership structure of the Federal Home Loan Banks.
+
+(c) Transition period To facilitate an orderly transition, the Director shall establish interim target goals for purposes of this section for each of the 2 calendar years following July 30, 2008.
+
+(d) Monitoring and enforcement of goals The requirements of section 4566 11 See References in Text note below. of this title, shall apply to this section, in the same manner and to the same extent as that section applies to the Federal housing enterprises.
+
+(e) Annual report The Director shall annually report to Congress on the performance of the Banks in meeting the goals established under this section.
+
+(July 22, 1932, ch. 522, § 10C, as added Pub. L. 110–289, div. A, title II, § 1205, July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+References in TextSection 4566 of this title, referred to in subsec. (d), was in the original “section 1336 of the Federal Housing Enterprises Safety and Soundness Act of 1992”, which was translated as meaning section 1336 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, to reflect the probable intent of Congress.

legal/us/code/title-12/chapter-11/section-1432.md

@@ -0,0 +1,45 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1432"
+description: "Incorporation of banks; corporate powers; housing project loans"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1432"
+citation: "12 U.S.C. § 1432"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1432"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "fb52976dcfd2cdb757b5e473e44e00a6db4dbe52c7d2b11bc13c1a15ae9f7191"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "4ee51ea59b68ed7146be68d4f1e4dfa083fc5c56fa9aefebd7c35b2a2e1e71f2"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1432 - Incorporation of banks; corporate powers; housing project loans
+
+## Text
+
+(a) The directors of each Federal Home Loan Bank shall, in accordance with such rules and regulations as the Director may prescribe, make and file with the Director at the earliest practicable date after the establishment of such bank, an organization certificate which shall contain such information as the Director may require. Upon the making and filing of such organization certificate with the Director, such bank shall become, as of the date of the execution of its organization certificate, a body corporate, and as such and in its name as designated by the Director it shall have power to adopt, alter, and use a corporate seal; to make contracts; to purchase or lease and hold or dispose of such real estate as may be necessary or convenient for the transaction of its business; to sue and be sued, to complain and to defend, in any court of competent jurisdiction, State or Federal; to select, employ, and fix the compensation of such officers, employees, attorneys, and agents as shall be necessary for the transaction of its business,; 11 So in original. to define their duties, require bonds of them and fix the penalties thereof, and to dismiss at pleasure such officers, employees, attorneys, and agents; and, by the board of directors of the bank, to prescribe, amend, and repeal by-laws governing the manner in which its affairs may be administered, consistent with applicable laws and regulations, as administered by the Director. No officer, employee, attorney, or agent of a Federal home loan bank who receives compensation, may be a member of the board of directors. Each such bank shall have all such incidental powers, not inconsistent with the provisions of this chapter, as are customary and usual in corporations generally.
+
+(b) Subject to such regulations as may be prescribed by the Director, one or more Federal home loan banks may acquire, hold, or dispose of, in whole or in part, or facilitate such acquisition, holding, or disposition by members of any such bank of, housing project loans, or interests therein, having the benefit of any guaranty under section 2181 of title 22, as now or hereafter in effect, or loans, or interests therein, having the benefit of any guaranty under section 2184 of title 22 or any commitment or agreement with respect to such loans, or interests therein, made pursuant to either of such sections. This authority extends to the acquisition, holding, and disposition of loans, or interests therein, having the benefit of any guaranty under section 2181 or 2182 of title 22 or such sections as hereafter amended or extended, or of any commitment or agreement for any such guaranty.
+
+(July 22, 1932, ch. 522, § 12, 47 Stat. 735; Pub. L. 89–754, title X, § 1016(a), Nov. 3, 1966, 80 Stat. 1293; Pub. L. 90–448, title XVII, § 1717, Aug. 1, 1968, 82 Stat. 609; Pub. L. 91–609, title IX, § 907(a), Dec. 31, 1970, 84 Stat. 1811; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 106–102, title VI, § 606(d), Nov. 12, 1999, 113 Stat. 1454; Pub. L. 110–289, div. A, title II, § 1204(8), (10), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+References in TextSection 2184 of title 22, referred to in subsec. (b), which related to housing projects in Latin American countries, was omitted in the general amendment made by section 105 of Pub. L. 91–175, Dec. 30, 1969, 83 Stat. 807. See section 2182 of Title 22, Foreign Relations and Intercourse.
+
+Amendments2008—Subsec. (a). Pub. L. 110–289 substituted “administered by the Director” for “administered by the Finance Board” and “the Director” for “the Board” wherever appearing. Subsec. (b). Pub. L. 110–289, § 1204(8), substituted “the Director” for “the Board”. 1999—Subsec. (a). Pub. L. 106–102, § 606(d)(1), struck out “, but, except with the prior approval of the Board, no bank building shall be bought or erected to house any such bank, or leased by such bank under any lease for such purpose which has a term of more than ten years” after “convenient for the transaction of its business”, struck out “subject to the approval of the Board” after “necessary for the transaction of its business”, substituted “and, by the board of directors of the bank, to prescribe, amend, and repeal by-laws governing the manner in which its affairs may be administered, consistent with applicable laws and regulations, as administered by the Finance Board. No officer, employee, attorney, or agent of a Federal home loan bank” for “and, by its Board of directors, to prescribe, amend, and repeal bylaws, rules, and regulations governing the manner in which its affairs may be administered; and the powers granted to it by law may be exercised and enjoyed subject to the approval of the Board. The president of a Federal Home Loan Bank may also be a member of the Board of directors thereof, but no other officer, employee, attorney, or agent of such bank,”, and, in penultimate sentence, substituted “board of directors” for “Board of directors” after “may be a member of the”. Subsec. (b). Pub. L. 106–102, § 606(d)(2), substituted “Federal home loan banks” for “Federal home loans banks”. 1989—Subsec. (a). Pub. L. 101–73 substituted “Board” for “board” wherever appearing. 1970—Subsec. (b). Pub. L. 91–609 extended authority to make housing project loans to acquisition, holding, and disposition of loans, or interest therein, having benefit of any guaranty under section 2181 or 2182 of title 22 or such sections as hereafter amended or extended, or of any commitment or agreement for any such guaranty. 1968—Pub. L. 90–448 designated existing provisions as subsec. (a) and added subsec. (b). 1966—Pub. L. 89–754 substituted “but, except with the prior approval of the board, no bank building shall be bought or erected to house any such bank, or leased by such bank under any lease” for “but no bank building shall be bought or erected to house any such bank, nor shall any such bank make any lease” in second sentence.

legal/us/code/title-12/chapter-11/section-1433.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1433"
+description: "Exemption from taxation; obligations acceptable as credit on debt of home owner"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1433"
+citation: "12 U.S.C. § 1433"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1433"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "aae6cd0ebc755c5d4f690b7e57f9513b1aca4caf38eb68460cca77218b2808ad"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "2222dc09d98e58f0f68e7438d6f755213283dd8637c3c1974187bd5de0fcb2c0"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1433 - Exemption from taxation; obligations acceptable as credit on debt of home owner
+
+## Text
+
+Any and all notes, debentures, bonds, and other such obligations issued by any bank, and consolidated Federal Home Loan Bank bonds and debentures, shall be exempt both as to principal and interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority. The bank, including its franchise, its capital, reserves, and surplus, its advances, and its income, shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority; except that in 11 So in original. Word “in” probably should not appear. any real property of the bank shall be subject to State, Territorial, county, municipal, or local taxation to the same extent according to its value as other real property is taxed. The notes, debentures, and bonds issued by any bank, with unearned coupons attached, shall be accepted at par by such bank in payment of or as a credit against the obligation of any home-owner debtor of such bank.
+
+(July 22, 1932, ch. 522, § 13, 47 Stat. 735; May 28, 1935, ch. 150, § 8, 49 Stat. 295.)
+
+## Notes
+
+Editorial Notes
+
+Amendments1935—Act May 28, 1935, inserted “and consolidated Federal Home Loan Bank bonds and debentures” in first sentence.

legal/us/code/title-12/chapter-11/section-1434.md

@@ -0,0 +1,35 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1434"
+description: "Depositaries of public money; financial agents"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1434"
+citation: "12 U.S.C. § 1434"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1434"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "ba570e2cbd9091744a69b2e334e6eea18e9d1c1afe8c5f25087f987266b01ccc"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "01a7bd67d851ec3782bff6f8e67acf3169cc1779eee07dc51801c900b51e87b3"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1434 - Depositaries of public money; financial agents
+
+## Text
+
+When designated for that purpose by the Secretary of the Treasury, each Federal Home Loan Bank shall be a depositary of public money, except receipts from customs, under such regulations as may be prescribed by said Secretary; and it may also be employed as a financial agent of the Government; and it shall perform all such reasonable duties as depositary of public money and financial agent of the Government as may be required of it.
+
+(July 22, 1932, ch. 522, § 14, 47 Stat. 736.)

legal/us/code/title-12/chapter-11/section-1435.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1435"
+description: "Obligations as lawful investments; liability of United States for debentures, etc., issued by banks"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1435"
+citation: "12 U.S.C. § 1435"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1435"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "2ae94a56c7422a978800214a2531569d1a151a2c2f920c042f9640d771d12626"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "8a1364e2f8f9c3c83c71ddb4df663de28fc4d8db9116921674140e231ea5b939"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1435 - Obligations as lawful investments; liability of United States for debentures, etc., issued by banks
+
+## Text
+
+Obligations of the Federal Home Loan Banks issued with the approval of the Board or the Director under this chapter shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof. The Federal reserve banks are authorized to act as depositaries, custodians, and/or fiscal agents for Federal Home Loan Banks in the general performance of their powers under this chapter. All obligations of Federal Home Loan Banks shall plainly state that such obligations are not obligations of the United States and are not guaranteed by the United States.
+
+(July 22, 1932, ch. 522, § 15, 47 Stat. 736; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(7), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289 inserted “or the Director” after “the Board”. 1989—Pub. L. 101–73 substituted “Board” for “board”.

legal/us/code/title-12/chapter-11/section-1436.md

@@ -0,0 +1,61 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1436"
+description: "Reserves and dividends; emergency suspensions of requirements"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1436"
+citation: "12 U.S.C. § 1436"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1436"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "320d446ce95e5c1eaef0c55bd9c467aab714fea1408d9d58780d29b5dd0ac18a"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "b69f4c73fac73deb2e5c26f3f60cadb19ef074f26eff119de2b8cde1e87ec65e"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1436 - Reserves and dividends; emergency suspensions of requirements
+
+## Text
+
+(a) Accumulation and maintenance of reserves; payment of dividends Each Federal Home Loan Bank may carry to a reserve account from time-to-time such portion of its net earnings as may be determined by its board of directors. Each Federal Home Loan Bank shall establish such additional reserves and/or make such charge-offs on account of depreciation or impairment of its assets as the Director shall require from time to time. No dividends shall be paid except out of previously retained earnings or current net earnings remaining after reductions for all reserves, chargeoffs, purchases of capital certificates of the Financing Corporation, and payments relating to the Funding Corporation required under this chapter have been provided for, other than chargeoffs or expenses incurred by a Bank in connection with the purchase of capital stock of the Financing Corporation under section 1441 of this title or payments relating to the Funding Corporation Principal Fund under section 1441b(e) of this title. The reserves of each Federal Home Loan Bank shall be invested, subject to such regulations, restrictions, and limitations as may be prescribed by the Director, in direct obligations of the United States, in obligations, participations, or other instruments of or issued by the Federal National Mortgage Association or the Government National Mortgage Association, in mortgages, obligations, or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 1454 or section 1455 of this title, and in such securities as fiduciary and trust funds may be invested in under the laws of the State in which the Federal Home Loan Bank is located.
+
+(b) Assistance to member institutions in event of severe financial conditions Notwithstanding subsection (a) or any other provision of this chapter, if the Director determines that severe financial conditions exist threatening the stability of member institutions, the Director may suspend temporarily the requirements of subsection (a) that a portion of net earnings be set aside semiannually by each Federal Home Loan Bank to a reserve account and permit each Federal Home Loan Bank to declare and pay dividends out of undivided profits.
+
+(c) Exception in case of losses in connection with Financing Corporation stock (1) In general Notwithstanding subsection (a) of this section, if—
+
+(A) a Federal Home Loan Bank incurs a chargeoff or an expense in connection with such bank’s investment in the stock of the Financing Corporation under section 1441 of this title;
+
+(B) the Director determines there is an extraordinary need for the member institutions of the bank to receive dividends; and
+
+(C) the bank has reduced all reserves (other than the reserve account required by the first 2 sentences of subsection (a)) to zero,
+
+the Director may authorize such bank to declare and pay dividends out of undivided profits (as such term is defined in section 1441(d)(7) of this title) or the reserve account required by the first 2 sentences of subsection (a).
+
+(2) Requirements of section 1441 of this title not affected Notwithstanding any payment of dividends by any Federal Home Loan Bank pursuant to an authorization by the Director under paragraph (1), the applicable provisions of section 1441 of this title shall continue to apply with respect to such bank, and to such bank’s investment in the Financing Corporation, in the same manner and to the same extent as if such payment had not been made.
+
+(July 22, 1932, ch. 522, § 16, 47 Stat. 736; Aug. 2, 1954, ch. 649, title II, § 204(a), 68 Stat. 622; Pub. L. 88–560, title VII, § 701(d)(2), Sept. 2, 1964, 78 Stat. 800; Pub. L. 90–448, title VIII, § 807(l), Aug. 1, 1968, 82 Stat. 545; Pub. L. 93–383, title VIII, § 805(c)(3), Aug. 22, 1974, 88 Stat. 727; Pub. L. 97–320, title I, § 124, Oct. 15, 1982, 96 Stat. 1485; Pub. L. 100–86, title III, § 306(a), Aug. 10, 1987, 101 Stat. 600; Pub. L. 101–73, title VII, §§ 701(b)(1), (3)(A), 724(a), Aug. 9, 1989, 103 Stat. 412, 428; Pub. L. 106–102, title VI, § 606(g), Nov. 12, 1999, 113 Stat. 1455; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289 substituted “the Director” for “the Board” wherever appearing. 1999—Subsec. (a). Pub. L. 106–102, in third sentence substituted “previously retained earnings or current net earnings” for “net earnings” and struck out “, and then only with the approval of the Federal Housing Finance Board” after “section 1441b(e) of this title” and struck out fourth sentence which read as follows: “Beginning on January 1, 1992, the preceding sentence shall be applied by substituting ‘previously retained earnings or current net earnings’ for ‘net earnings’.” 1989—Subsec. (a). Pub. L. 101–73, § 724(a)(1), substituted “Each Federal Home Loan Bank may carry to a reserve account from time-to-time such portion of its net earnings as may be determined by its board of directors.” for “Each Federal Home Loan Bank shall carry to a reserve account semiannually 20 per centum of its net earnings until said reserve account shall show a credit balance equal to 100 per centum of the paid-in capital of such bank. After said reserve has reached 100 per centum of the paid-in capital of said bank, 5 per centum of its net earnings shall be added thereto semiannually. Whenever said reserve shall have been impaired below 100 per centum of the paid-in capital it shall be restored before any dividends are paid.” Pub. L. 101–73, § 724(a)(2), substituted “No dividends shall be paid except out of net earnings remaining after reductions for all reserves, chargeoffs, purchases of capital certificates of the Financing Corporation, and payments relating to the Funding Corporation required under this chapter have been provided for, other than chargeoffs or expenses incurred by a Bank in connection with the purchase of capital stock of the Financing Corporation under section 1441 of this title or payments relating to the Funding Corporation Principal Fund under section 1441b(e) of this title, and then only with the approval of the Federal Housing Finance Board. Beginning on January 1, 1992, the preceding sentence shall be applied by substituting ‘previously retained earnings or current net earnings’ for ‘net earnings’.” for “No dividends shall be paid except out of net earnings remaining after all reserves and charge-offs required under this chapter have been provided for, and then only with the approval of the board.” Pub. L. 101–73, § 701(b)(1), (3)(A), substituted “Board” for “board” wherever appearing. 1987—Subsec. (c). Pub. L. 100–86 added subsec. (c). 1982—Pub. L. 97–320 designated existing provisions as subsec. (a) and added subsec. (b). 1974—Pub. L. 93–383 inserted reference to mortgages, obligations, or other securities sold by the Federal Home Loan Mortgage Corporation pursuant to section 1454 or section 1455 of this title. 1968—Pub. L. 90–448 authorized investments in obligations, participations, or other instruments issued by the Government National Mortgage Association. 1964—Pub. L. 88–560 substituted “in obligations, participations, or other instruments of or issued by the Federal National Mortgage Association” for “in obligations of the Federal National Mortgage Association”. 1954—Act Aug. 2, 1954, inserted reference to obligations of Federal National Mortgage Association in last sentence.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 1989 AmendmentPub. L. 101–73, title VII, § 724(b), Aug. 9, 1989, 103 Stat. 429, provided that: “The amendment made by subsection (a)(1) [amending this section] shall take effect on January 1, 1992.”
+
+Effective Date of 1968 AmendmentFor effective date of amendment by title VIII of Pub. L. 90–448, see section 808 of Pub. L. 90–448, set out as an Effective Date note under section 1716b of this title.

legal/us/code/title-12/chapter-11/section-1438.md

@@ -0,0 +1,39 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1438"
+description: "Omitted"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1438"
+citation: "12 U.S.C. § 1438"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1438"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "f1fac1a8e301b173fe9ca3fdb4ca688f84caa6aae0d9768b9a70859a99df653e"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "c97afaacc9064882bcc060a60d63b4553b579e609f08bd116c402d72989c37e8"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1438 - Omitted
+
+## Notes
+
+Editorial Notes
+
+Codification Section, act July 22, 1932, ch. 522, § 18, 47 Stat. 737; Pub. L. 89–754, title X, § 1016(b), Nov. 3, 1966, 80 Stat. 1293; Pub. L. 101–73, title VII, §§ 701(b)(2), (b)(3)(B), 711, 712, Aug. 9, 1989, 103 Stat. 412, 419; Pub. L. 104–66, title II, § 2191, Dec. 21, 1995, 109 Stat. 732; Pub. L. 106–102, title VI, § 606(h), Nov. 12, 1999, 113 Stat. 1455; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814; Pub. L. 110–289, div. A, title II, § 1204(2), July 30, 2008, 122 Stat. 2786; Pub. L. 111–203, title III, § 364(a), July 21, 2010, 124 Stat. 1555, was omitted in view of the repeal of subsecs. (a) to (c) which comprised this section. Subsec. (a), which related to authorization of appropriations for certain expenses of the Federal Home Loan Bank Board, was repealed by Pub. L. 101–73, title VII, § 712, Aug. 9, 1989, 103 Stat. 419. Subsec. (b), which related to assessments for administrative expenses of the Federal Housing Finance Board, was repealed by Pub. L. 110–289, div. A, title II, § 1204(2), July 30, 2008, 122 Stat. 2786. Subsec. (c), which related to acquisition of property by the Director of the Office of Thrift Supervision, was repealed by Pub. L. 111–203, title III, § 364(a), July 21, 2010, 124 Stat. 1555.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2010 AmendmentPub. L. 111–203, title III, § 364(a), July 21, 2010, 124 Stat. 1555, provided that, effective 90 days after the transfer date, subsection (c) of this section is repealed. For definition of “transfer date”, see section 5301 of this title.

legal/us/code/title-12/chapter-11/section-1438a.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1438a"
+description: "Nonadministrative expenses; expenses of studies and investigations"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1438a"
+citation: "12 U.S.C. § 1438a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1438a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "b0e8287561e083700f51f137a20a2548d08a4ed11cb10f86be88c8af6d92c41a"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "faa9edf40b8ff93609cc6e2dc6b60c9b4ec19139a0cbc86265f99c96b922d58a"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1438a - Nonadministrative expenses; expenses of studies and investigations
+
+## Text
+
+On and after July 12, 1960, expenses of the Board in making studies or investigations specifically directed by law, or requested by the Congress or either House thereof or by a committee of either House, including services authorized by section 3109 of title 5, shall be considered as nonadministrative expenses.
+
+(Pub. L. 86–626, title II, § 201, July 12, 1960, 74 Stat. 441.)
+
+## Notes
+
+Editorial Notes
+
+Codification “Section 3109 of title 5” substituted in text for “section 15 of the Act of August 2, 1946 (5 U.S.C. 55a)” on authority of section 7(b) of Pub. L. 89–554, Sept. 6, 1966, 80 Stat. 631, section 1 of which enacted Title 5, Government Organization and Employees.

legal/us/code/title-12/chapter-11/section-1439a.md

@@ -0,0 +1,53 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1439a"
+description: "Deposits in special fund; availability for all purposes of Federal Home Loan Bank Board and Federal Home Loan Bank Administration"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1439a"
+citation: "12 U.S.C. § 1439a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1439a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "a32627f4d7da557b5caccd3af5a76acb6d056b535b33cd9e5ab42582ba6d05ee"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "f0a2c844c33a56f7715a10884dd24faf329745deeb69d5821b8cb5f7aaa4b805"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1439a - Deposits in special fund; availability for all purposes of Federal Home Loan Bank Board and Federal Home Loan Bank Administration
+
+## Text
+
+All moneys and funds heretofore deposited in the Treasury of the United States under the last sentence of section 1439 11 See References in Text note below. of this title (including unexpended balances of moneys appropriated therefrom for administrative expenses), and hereafter all moneys and funds which would, except for this provision, be so depositable thereunder, shall be deposited with the Treasurer of the United States in a special deposit account and shall be available, retroactively as well as prospectively, for expenditure for all purposes of the Federal Home Loan Bank Board and the Federal Home Loan Bank Administration, subject to subsections (a) and (b) of section 712a of title 15.
+
+(June 26, 1943, ch. 145, title I, § 101, 57 Stat. 186; 1947 Reorg. Plan No. 3, eff. July 27, 1947, 12 F.R. 4981, 61 Stat. 954; Aug. 11, 1955, ch. 783, title I, § 109(a)(3), 69 Stat. 640.)
+
+## Notes
+
+Editorial Notes
+
+References in TextSection 1439 of this title, referred to in text, was repealed by Pub. L. 101–73, title VII, § 708, Aug. 9, 1989, 103 Stat. 418.
+
+Codification Section was enacted as part of the Independent Offices Appropriation Act, 1944, and not as part of the Federal Home Loan Bank Act which comprises this chapter.
+
+Statutory Notes and Related Subsidiaries
+
+Change of Name “Home Loan Bank Board” changed to “Federal Home Loan Bank Board” by act Aug. 11, 1955, ch. 783, § 109(a)(3), which was classified to section 1437(b) of this title prior to the repeal of section 1437 by Pub. L. 101–73, title VII, § 703(a), Aug. 9, 1989, 103 Stat. 415. Previously, “Home Loan Bank Board” had been substituted for “Federal Home Loan Bank Board” by Reorg. Plan No. 3 of 1947.
+
+Transfer of Functions Federal Home Loan Bank Board abolished and functions transferred, see sections 401 to 406 of Pub. L. 101–73, set out as a note under section 1437 of this title.
+
+Executive Documents
+
+Transfer of Functions For transfer of functions to Secretary of the Treasury, see note set out under section 55 of this title.

legal/us/code/title-12/chapter-11/section-1440.md

@@ -0,0 +1,43 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1440"
+description: "Examinations and audits"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1440"
+citation: "12 U.S.C. § 1440"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1440"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "5481e10f1bb4ac459302ec65af169922c296948f06c4561daa63174fe5a07c07"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "6606451ccb007d0b7b9276a748480c99978a2f9e89ca5de86d178c8bea499961"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1440 - Examinations and audits
+
+## Text
+
+The Director shall from time to time, at least annually, require examinations and reports of condition of all Federal Home Loan Banks in such form as the Director shall prescribe and shall furnish periodically statements based upon the reports of the banks to the Director. For the purposes of this chapter, examiners appointed by the Director shall be subject to the same requirements, responsibilities, and penalties as are applicable to examiners under the National Bank Act [12 U.S.C. 21 et seq.] and the Federal Reserve Act [12 U.S.C. 221 et seq.], and shall have, in the exercise of functions under this chapter, the same powers and privileges as are vested in such examiners by law. In addition to such examinations, the Comptroller General may audit or examine the Director and the Banks, to determine the extent to which the Director and the Banks are fairly and effectively fulfilling the purposes of this chapter.
+
+(July 22, 1932, ch. 522, § 20, 47 Stat. 738; June 27, 1950, ch. 369, § 10, 64 Stat. 259; Aug. 2, 1954, ch. 649, title VIII, § 802(f), 68 Stat. 643; Pub. L. 101–73, title VII, §§ 701(b)(1), (3)(A), 702(b), Aug. 9, 1989, 103 Stat. 412, 415; Pub. L. 110–289, div. A, title II, § 1204(8), (9), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe National Bank Act, referred to in text, is act June 3, 1864, ch. 106, 13 Stat. 99, which is classified principally to chapter 2 (§ 21 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 38 of this title. The Federal Reserve Act, referred to in text, is act Dec. 23, 1913, ch. 6, 38 Stat. 251, which is classified principally to chapter 3 (§ 221 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
+
+Amendments2008—Pub. L. 110–289 substituted “The Director” for “The Board” and “the Director” for “the Board” wherever appearing. 1989—Pub. L. 101–73, § 702(b), inserted provisions relating to audit or examination by the Comptroller General. Pub. L. 101–73, § 701(b)(1), (3)(A), substituted “Board” for “board” wherever appearing. 1954—Act Aug. 2, 1954, struck out second sentence relating to annual report of the board to Congress. See section 1437(b) of this title. 1950—Act June 27, 1950, struck out “twice” before “annually”.

legal/us/code/title-12/chapter-11/section-1440a.md

@@ -0,0 +1,49 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1440a"
+description: "Sharing of information among Federal Home Loan Banks"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1440a"
+citation: "12 U.S.C. § 1440a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1440a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "001ae514020b0e07b2294bfad4daf7ecf8b7175a6c32ef3749a3389b7a2d6dbd"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "2e17f030e9e297c6512e8ce44cbca873c8fa1ab8d182a9ba84dac8c271b3385b"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1440a - Sharing of information among Federal Home Loan Banks
+
+## Text
+
+(a) Information on financial condition In order to enable each Federal Home Loan Bank to evaluate the financial condition of one or more of the other Federal Home Loan Banks individually and the Federal Home Loan Bank System (including any risks associated with the issuance or repayment of consolidated Federal Home Loan Bank bonds and debentures or other borrowings and the joint and several liabilities of the Banks incurred due to such borrowings), as well as to comply with any of its obligations under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), the Director shall make available to the Banks such reports, records, or other information as may be available, relating to the condition of any Federal Home Loan Bank.
+
+(b) Sharing of information (1) In general The Director shall promulgate regulations to facilitate the sharing of information made available under subsection (a) directly among the Federal Home Loan Banks.
+
+(2) Limitation Notwithstanding paragraph (1), a Federal Home Loan Bank responding to a request from another Bank or from the Director for information pursuant to this section may request that the Director determine that such information is proprietary and that the public interest requires that such information not be shared.
+
+(c) Limitation Nothing in this section shall affect the obligations of any Federal Home Loan Bank under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or the regulations issued by the Securities and Exchange Commission thereunder.
+
+(d) No waiver of privilege The Director shall not be deemed to have waived any privilege applicable to any information concerning a Federal Home Loan Bank by transferring, or permitting the transfer of, that information to any other Federal Home Loan Bank for the purposes set out in subsection (a).
+
+(July 22, 1932, ch. 522, § 20A, as added Pub. L. 110–289, div. A, title II, § 1207, July 30, 2008, 122 Stat. 2787.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe Securities Exchange Act of 1934, referred to in subsecs. (a) and (c), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables.

legal/us/code/title-12/chapter-11/section-1441a-1.md

@@ -0,0 +1,61 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1441a–1"
+description: "Definitions"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1441a–1"
+citation: "12 U.S.C. § 1441a–1"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1441a–1"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "a3ac6d34907f540a6383da153e3409f5cf4c18aaa2b096271a88a9637227dcdc"
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+text_hash: "1bdfc961552df18374f46afe0a832c8226e4a989fbd5d445832a903f728d3fba"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1441a–1 - Definitions
+
+## Text
+
+For purposes of section 1441a–2 of this title:
+
+(1) State housing finance authority The term “State housing finance authority” means any public agency, authority, or corporation which—
+
+(A) serves as an instrumentality of any State or any political subdivision of any State; and
+
+(B) functions as a source of residential mortgage loan financing in that State.
+
+(2) Nonprofit entity The term “nonprofit entity” means any not-for-profit corporation chartered under State law that is exempt from Federal taxation under section 501(c) of title 26 and no part of the net earnings of which inures to the benefit of any member, founder, contributor, or individual (including any nonprofit entity established by the corporation established under title IX of the Housing and Urban Development Act of 1968 [42 U.S.C. 3931 et seq.]).
+
+(3) Mortgage-related assets The term “mortgage-related assets” means—
+
+(A) residential mortgage loans secured by 1- to 4-family or multifamily dwellings; and
+
+(B) real property improved with 1- to 4-family or multifamily residential dwellings,
+
+which are located within the jurisdiction of the applicable State housing finance authority or within the geographical area served by the nonprofit entity.
+
+(4) Net income The term “net income” means income after deduction of all associated expenses calculated in accordance with generally accepted accounting principles.
+
+(Pub. L. 101–73, title XIII, § 1301, Aug. 9, 1989, 103 Stat. 547.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe Housing and Urban Development Act of 1968, referred to in par. (2), is Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 476. Title IX of the Housing and Urban Development Act of 1968 is classified principally to chapter 49 (§ 3931 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title of 1968 Amendment note set out under section 1701 of this title and Tables.
+
+Codification Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Home Loan Bank Act which comprises this chapter.

legal/us/code/title-12/chapter-11/section-1441a-2.md

@@ -0,0 +1,47 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1441a–2"
+description: "Authorization for State housing finance agencies and nonprofit entities to purchase mortgage-related assets"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1441a–2"
+citation: "12 U.S.C. § 1441a–2"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1441a–2"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "bec6bb2747dd656388442f03e846deaf5b1b68b12fe2029b5be9b28500996a50"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "99b7c8ae18cc011b61b597d4351dbfb07ff62b073a95bb973660eb3d568d7b4a"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1441a–2 - Authorization for State housing finance agencies and nonprofit entities to purchase mortgage-related assets
+
+## Text
+
+(a) Authorization Notwithstanding any other provision of Federal or State law, a State housing finance authority or nonprofit entity may purchase mortgage-related assets from the Resolution Trust Corporation or from financial institutions with respect to which the Federal Deposit Insurance Corporation is acting as a conservator or receiver (including assets associated with any trust business), and any contract for such purchase shall be effective in accordance with its terms without any further approval, assignment, or consent with respect to that contract.
+
+(b) Investment requirement Any State housing finance authority or nonprofit entity which purchases mortgage-related assets pursuant to subsection (a) shall invest any net income attributable to the ownership of those assets in financing, refinancing, or rehabilitating low- and moderate-income housing within the jurisdiction of the State housing finance authority or within the geographical area served by the nonprofit entity.
+
+(Pub. L. 101–73, title XIII, § 1302, Aug. 9, 1989, 103 Stat. 548.)
+
+## Notes
+
+Editorial Notes
+
+Codification Section was enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and not as part of the Federal Home Loan Bank Act which comprises this chapter.
+
+Statutory Notes and Related Subsidiaries
+
+Definitions The definitions in section 1441a–1 of this title apply to this section.

legal/us/code/title-12/chapter-11/section-1441a-3.md

@@ -0,0 +1,87 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1441a–3"
+description: "RTC and FDIC properties"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1441a–3"
+citation: "12 U.S.C. § 1441a–3"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1441a–3"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "b5df8a6cdf64c95df7363b2f5e956ffef9d2fcb3df3c305529117860c1a261c2"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "ee60fb7b31a07d853ad7917f0b1ea19c76e029edebba086201bef62bffb538d6"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1441a–3 - RTC and FDIC properties
+
+## Text
+
+(a) Reports (1) Submission The Resolution Trust Corporation and the Federal Deposit Insurance Corporation shall each submit to the Congress for each year a report identifying and describing any property that is covered property of the corporation concerned as of September 30 of such year. The report shall be submitted on or before March 30 of the following year.
+
+(2) Consultation In preparing the reports required under this subsection, each corporation concerned may consult with the Secretary of the Interior for purposes of identifying the properties described in paragraph (1).
+
+(b) Limitation on transfer (1) Notice The Resolution Trust Corporation and the Federal Deposit Insurance Corporation may not sell or otherwise transfer any covered property unless the corporation concerned causes to be published in the Federal Register a notice of the availability of the property for purchase or other transfer that identifies the property and describes the location, characteristics, and size of the property.
+
+(2) Expression of serious interest During the 90-day period beginning on the date that notice under paragraph (1) concerning a covered property is first published, any governmental agency or qualified organization may submit to the corporation concerned a written notice of serious interest for the purchase or other transfer of a particular covered property for which notice has been published. The notice of serious interest shall be in such form and include such information as the corporation concerned may prescribe.
+
+(3) Prohibition of transfer During the period under paragraph (2), a corporation concerned may not sell or otherwise transfer any covered property for which notice has been published under paragraph (1). Upon the expiration of such period, the corporation concerned may sell or otherwise transfer any covered property for which notice under paragraph (1) has been published if a notice of serious interest under paragraph (2) concerning the property has not been timely submitted.
+
+(4) Offers and permitted transfer If a notice of serious interest in a covered property is timely submitted pursuant to paragraph (2), the corporation concerned may not sell or otherwise transfer such covered property during the 90-day period beginning upon the expiration of the period under paragraph (2) except to a governmental agency or qualified organization for use primarily for wildlife refuge, sanctuary, open space, recreational, historical, cultural, or natural resource conservation purposes, unless all notices of serious interest under paragraph (2) have been withdrawn.
+
+(c) Definitions For purposes of this section:
+
+(1) Corporation concerned The term “corporation concerned” means—
+
+(A) the Federal Deposit Insurance Corporation, with respect to matters relating to the Federal Deposit Insurance Corporation; and
+
+(B) the Resolution Trust Corporation, with respect to matters relating to the Resolution Trust Corporation.
+
+(2) Covered property The term “covered property” means any property—
+
+(A) to which—
+
+(i) the Resolution Trust Corporation has acquired title in its corporate or receivership capacity; or
+
+(ii) the Federal Deposit Insurance Corporation has acquired title in its corporate capacity or which was acquired by the former Federal Savings and Loan Insurance Corporation in its corporate capacity; and
+
+(B) that—
+
+(i) is located within the John H. Chafee Coastal Barrier Resources System; or
+
+(ii) is undeveloped, greater than 50 acres in size, and adjacent to or contiguous with any lands managed by a governmental agency primarily for wildlife refuge, sanctuary, open space, recreational, historical, cultural, or natural resource conservation purposes.
+
+(3) Governmental agency The term “governmental agency” means any agency or entity of the Federal Government or a State or local government.
+
+(4) Undeveloped The term “undeveloped” means—
+
+(A) containing few manmade structures and having geomorphic and ecological processes that are not significantly impeded by any such structures or human activity; and
+
+(B) having natural, cultural, recreational, or scientific value of special significance.
+
+(Pub. L. 101–591, § 10, Nov. 16, 1990, 104 Stat. 2939; Pub. L. 106–167, § 3(c)(5), Dec. 9, 1999, 113 Stat. 1804.)
+
+## Notes
+
+Editorial Notes
+
+Codification Section was enacted as part of the Coastal Barrier Improvement Act of 1990, and not as part of the Federal Home Loan Bank Act which comprises this chapter.
+
+Amendments1999—Subsec. (c)(2)(B)(i). Pub. L. 106–167 substituted “John H. Chafee Coastal Barrier Resources System” for “Coastal Barrier Resources System”.
+
+Statutory Notes and Related Subsidiaries
+
+Termination of Reporting RequirementsFor termination, effective May 15, 2000, of provisions in subsec. (a)(1) of this section requiring submittal of an annual report to Congress, see section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance, and pages 168 and 190 of House Document No. 103–7.

legal/us/code/title-12/chapter-11/section-1441a.md

@@ -0,0 +1,45 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1441a"
+description: "Repealed. Pub. L. 111–203, title III, § 364(b), July 21, 2010, 124 Stat. 1555"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1441a"
+citation: "12 U.S.C. § 1441a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1441a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "32773b5924cb15fcb58c81b9f6ce430c308d12e23703b5017a601e6d03158f7f"
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+text_hash: "5750e4d57cbec3086a9d3fcc059b79ead7c07057c3892306e16e7ceeb6471313"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1441a - Repealed. Pub. L. 111–203, title III, § 364(b), July 21, 2010, 124 Stat. 1555
+
+## Notes
+
+Section, act July 22, 1932, ch. 522, § 21A, as added Pub. L. 101–73, title V, § 501(a), Aug. 9, 1989, 103 Stat. 363; amended Pub. L. 101–625, title VIII, § 804(d), title IX, § 914(c), Nov. 28, 1990, 104 Stat. 4323, 4395; Pub. L. 101–647, title XXV, §§ 2526(c), 2540, Nov. 29, 1990, 104 Stat. 4876, 4885; Pub. L. 102–18, title I, §§ 101, 102(a), 103(a), 104, 105, title II, §§ 201, 202, title III, § 301, title IV, § 401, Mar. 23, 1991, 105 Stat. 58, 60–63, 65; Pub. L. 102–139, title V, § 523(a), Oct. 28, 1991, 105 Stat. 781; Pub. L. 102–233, title I, §§ 101, 103, 105, 106(a)–(e)(1), title II, § 201, title III, §§ 302(b), (c), 303–312, 314, 316, title IV, §§ 401, 402(a), 403–405, title V, § 501, title VI, §§ 601–611, 613–617, Dec. 12, 1991, 105 Stat. 1761–1765, 1767–1770, 1772–1774, 1776–1789; Pub. L. 102–242, title I, § 141(a)(3), title II, § 251(c)(1), title IV, § 471, Dec. 19, 1991, 105 Stat. 2276, 2333, 2385; Pub. L. 102–378, § 5(e), Oct. 2, 1992, 106 Stat. 1358; Pub. L. 102–550, title V, §§ 503(c)(3), 509(i), title XVI, §§ 1611(a), (d)(1)–(3), 1612, 1613(a)(1)–(6), (8), (b)–(h), 1614(a)(1)–(5), (7), (b), 1615(a)(2), 1616, Oct. 28, 1992, 106 Stat. 3780, 3783, 4090–4096; Pub. L. 103–204, §§ 2–3(b), 4(a), 5(a), (b)(2), 7, 12, 14(a)(1), (c)(2), (d)(1), (e)(1), (f)(1), 15(a), 16(a), 17(a), 21(b), 24, 27(a), 29–31, 36, Dec. 17, 1993, 107 Stat. 2370–2380, 2382, 2383, 2390, 2391, 2395–2400, 2406, 2408, 2410–2413, 2415; Pub. L. 103–211, title IV, § 406, Feb. 12, 1994, 108 Stat. 41; Pub. L. 103–325, title VI, § 602(b), Sept. 23, 1994, 108 Stat. 2291; Pub. L. 103–328, title II, § 201(b), Sept. 29, 1994, 108 Stat. 2368; Pub. L. 104–66, title II, § 2231, Dec. 21, 1995, 109 Stat. 733; Pub. L. 104–208, div. A, title II, § 2704(d)(11)(B)–(D), Sept. 30, 1996, 110 Stat. 3009–489; Pub. L. 105–135, title VI, § 604(b), Dec. 2, 1997, 111 Stat. 2633; Pub. L. 106–400, § 2, Oct. 30, 2000, 114 Stat. 1675; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814; Pub. L. 109–171, title II, § 2102(b), Feb. 8, 2006, 120 Stat. 9; Pub. L. 109–173, § 9(d)(3)–(6), Feb. 15, 2006, 119 Stat. 3616, 3617; Pub. L. 110–289, div. A, title II, § 1204(8), (12), July 30, 2008, 122 Stat. 2786, related to establishment of Thrift Depositor Protection Oversight Board and Resolution Trust Corporation.
+
+Statutory Notes and Related Subsidiaries
+
+Change of Name Pub. L. 102–233, title III, § 302(a), Dec. 12, 1991, 105 Stat. 1767, redesignated the Oversight Board, as established by former subsec. (a)(1) of this section, as the Thrift Depositor Protection Oversight Board.
+
+Effective Date of RepealRepeal effective on the transfer date, see section 351 of Pub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 906 of Title 2, The Congress.
+
+Savings ProvisionPub. L. 102–233, title III, § 317, Dec. 12, 1991, 105 Stat. 1773, provided that the rights and duties, actions and proceedings, and orders and regulations that had attached to the Oversight Board as of Feb. 1, 1992, would not be affected by title III of Pub. L. 102–233 and that the Thrift Depositor Protection Oversight Board would assume the role of the Oversight Board where applicable.
+
+Abolition of Thrift Depositor Protection Oversight Board Pub. L. 105–216, § 14(a)–(d), July 29, 1998, 112 Stat. 908–910, abolished the Thrift Depositor Protection Oversight Board established under former section 1441a of this title, effective at the end of the 3-month period beginning July 29, 1998, provided that, effective July 29, 1998, the Chairperson of the Oversight Board (or the designee of the Chairperson) may exercise on behalf of the Oversight Board any power of the Oversight Board necessary to settle and conclude the affairs of the Oversight Board, included savings provisions, and transferred authority and duties of the Oversight Board under former section 1441a(a)(6)(I) and section 1441b of this title to the Secretary of the Treasury (or the designee of the Secretary).
+
+FDIC–RTC Transition Task ForcePub. L. 103–204, § 6, Dec. 17, 1993, 107 Stat. 2382, required the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation (RTC) to establish an interagency transition task force to facilitate the transfer of the assets, personnel, and operations of the RTC to the FDIC or the FSLIC Resolution Fund, as the case may be, in a coordinated manner; prescribed the composition, appointment, and duties of the task force; required the task force to submit certain reports to certain congressional committees; and required the FDIC to submit a follow up report to certain congressional committees.

legal/us/code/title-12/chapter-11/section-1441b.md

@@ -0,0 +1,319 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1441b"
+description: "Resolution Funding Corporation established"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1441b"
+citation: "12 U.S.C. § 1441b"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1441b"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "297a8b0e11fc5834a4c702a22a026592b2b1bef1bfe759e6fe4eca701a266081"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "5021d33267b5fb42eca005c6ded49869b66b641bdce472fed5f9acb117203642"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1441b - Resolution Funding Corporation established
+
+## Text
+
+(a) Purpose The purpose of the Resolution Funding Corporation is to provide funds to the Resolution Trust Corporation to enable the Resolution Trust Corporation to carry out the provisions of this chapter.
+
+(b) Establishment There is established a corporation to be known as the Resolution Funding Corporation.
+
+(c) Management of Funding Corporation (1) Directorate The Funding Corporation shall be under the management of a Directorate composed of 3 members as follows:
+
+(A) The director of the Office of Finance of the Federal Home Loan Banks (or the head of any successor office).
+
+(B) 2 members selected by the Thrift Depositor Protection Oversight Board from among the presidents of the Federal Home Loan Banks.
+
+(2) Terms Of the 2 members appointed under paragraph (1)(B), 1 shall be appointed for an initial term of 2 years and 1 shall be appointed for an initial term of 3 years. Thereafter, such members shall be appointed for a term of 3 years.
+
+(3) Vacancy If any member leaves the office in which such member was serving when appointed to the Directorate—
+
+(A) such member’s service on the Directorate shall terminate on the date such member leaves such office; and
+
+(B) the successor to the office of such member shall serve the remainder of such member’s term.
+
+(4) Equal representation of banks No president of a Federal Home Loan Bank may be appointed to serve an additional term on the Directorate until such time as the presidents of each of the other Federal Home Loan Banks have served as many terms as the president of such bank.
+
+(5) Chairperson The Thrift Depositor Protection Oversight Board shall select the chairperson of the Directorate from among the 3 members of the Directorate.
+
+(6) Staff (A) No paid employees The Funding Corporation shall have no paid employees.
+
+(B) Powers The Directorate may, with the approval of the Director authorize the officers, employees, or agents of the Federal Home Loan Banks to act for and on behalf of the Funding Corporation in such manner as may be necessary to carry out the functions of the Funding Corporation.
+
+(7) Administrative expenses (A) In general All administrative expenses of the Funding Corporation, including custodian fees, shall be paid by the Federal Home Loan Banks.
+
+(B) Pro rata distribution The amount each Federal Home Loan Bank shall pay under subparagraph (A) shall be determined by the Thrift Depositor Protection Oversight Board by multiplying the total administrative expenses for any period by the percentage arrived at by dividing—
+
+(i) the aggregate amount the Thrift Depositor Protection Oversight Board required such bank to invest in the Funding Corporation (as of the time of such determination) under paragraphs (4) and (5) of subsection (e) (computed without regard to paragraphs (3) or (6) of such subsection); by
+
+(ii) the aggregate amount the Thrift Depositor Protection Oversight Board required all Federal Home Loan Banks to invest (as of the time of such determination) under such paragraphs.
+
+(8) Regulation by Thrift Depositor Protection Oversight Board The Directorate of the Funding Corporation shall be subject to such regulations, orders, and directions as the Thrift Depositor Protection Oversight Board may prescribe.
+
+(9) No compensation from Funding Corporation Members of the Directorate of the Funding Corporation shall receive no pay, allowance, or benefit from the Funding Corporation for serving on the Directorate.
+
+(d) Powers of Funding Corporation The Funding Corporation shall have only the powers described in paragraphs (1) through (9), subject to the other provisions of this section and such regulations, orders, and directions as the Thrift Depositor Protection Oversight Board may prescribe:
+
+(1) Issue stock To issue nonvoting capital stock to the Federal Home Loan Banks.
+
+(2) Purchase capital stock; transfer amounts To purchase capital certificates issued by the Resolution Trust Corporation under section 1441a of this title, and to transfer amounts to the Resolution Trust Corporation pursuant to subsection (e)(8) of this section.
+
+(3) Issue obligations To issue debentures, bonds, or other obligations, and to borrow, to give security for any amount borrowed, and to pay interest on (and any redemption premium with respect to) any such obligation or amount.
+
+(4) Impose assessments To impose assessments in accordance with subsection (e)(7).
+
+(5) Corporate seal To adopt, alter, and use a corporate seal.
+
+(6) Succession To have succession until dissolved.
+
+(7) Contracts To enter into contracts.
+
+(8) Authority to sue To sue and be sued in its corporate capacity, and to complain and defend in any action brought by or against the Funding Corporation in any State or Federal court of competent jurisdiction.
+
+(9) Incidental powers To exercise such incidental powers not inconsistent with the provisions of this section and section 1441a of this title as are necessary and appropriate to carry out the provisions of this section.
+
+(e) Capitalization of Funding Corporation, etc. (1) In general (A) Amount required The Thrift Depositor Protection Oversight Board shall ensure that the aggregate of the amounts obtained under this subsection shall be sufficient so that—
+
+(i) the Funding Corporation may transfer the amounts required under paragraph (8); and
+
+(ii) the total of the face amounts (the amount of principal payable at maturity) of noninterest bearing instruments in the Funding Corporation Principal Fund are equal to the aggregate amount of principal on the obligations of the Funding Corporation.
+
+(B) Purchases of stock by Federal Home Loan Banks Each Federal Home Loan Bank shall purchase stock in the Funding Corporation at times and in amounts prescribed by the Thrift Depositor Protection Oversight Board.
+
+(2) Par value; transferability Each share of stock issued by the Funding Corporation to a Federal Home Loan Bank shall have a par value in an amount determined by the Thrift Depositor Protection Oversight Board and shall be transferable at not less than par value only among the Federal Home Loan Banks in the manner and to the extent prescribed by the Thrift Depositor Protection Oversight Board.
+
+(3) Maximum investment amount limitation for each Federal Home Loan Bank The cumulative amount of funds invested in nonvoting capital stock of the Funding Corporation by each Federal Home Loan Bank under paragraph (1) shall not at any time exceed the sum of the amounts calculated under subparagraphs (A) and (B), as adjusted in subparagraph (C), as follows:
+
+(A) Reserves and undivided profits on December 31, 1988 The sum on December 31, 1988, of—
+
+(i) the reserves maintained by such Bank pursuant to the reserve requirement contained in the first 2 sentences of section 1436 of this title (as in effect on December 31, 1988); and
+
+(ii) the undivided profits of such Bank, minus the amounts invested in the capital stock of the Financing Corporation pursuant to section 1441 of this title.
+
+(B) Subsequent additions to reserves and un­divided profits The amount, calculated until the date on which the Funding Corporation Principal Fund is fully funded, equal to—
+
+(i) the sum of—
+
+(I) the amounts added to reserves by such Bank after December 31, 1988, pursuant to the reserve requirement contained in the first 2 sentences of section 1436 of this title (as in effect on December 31, 1988); and
+
+(II) the quarterly additions to undivided profits of the Bank after December 31, 1988; minus
+
+(ii) the amounts invested by such Bank in the capital stock of the Financing Corporation after December 31, 1988, pursuant to the requirement contained in section 1441 of this title.
+
+(C) Annual adjustment The amounts in subparagraph (B) shall be adjusted as follows:
+
+(i) Increase in limit If the aggregate amount for all Federal Home Loan Banks determined under subparagraph (B)(i) is less than $300,000,000 per year, the limit for each Bank shall be increased by an amount determined by the Thrift Depositor Protection Oversight Board by multiplying the aggregate deficiency by the percentage applicable to such Bank arrived at in the manner described in paragraph (5).
+
+(ii) Decrease in limit If the aggregate amount for all Federal Home Loan Banks determined under subparagraph (B)(i) is more than $300,000,000 per year, the limit for each Bank shall be decreased by an amount determined by the Thrift Depositor Protection Oversight Board by multiplying the aggregate excess by the percentage applicable to such Bank arrived at in the manner described in paragraph (5).
+
+(4) Pro rata distribution of first $1,000,000,000 invested in Funding Corporation by Federal Home Loan Banks Of the first $1,000,000,000 of the aggregate that the Director (pursuant to section 1441 of this title) or the Thrift Depositor Protection Oversight Board (under this section) may require the Federal Home Loan Banks collectively to invest in the capital stock of the Financing Corporation or invest in the capital stock of the Funding Corporation, respectively, the amount which each Federal Home Loan Bank (or any successor to the Bank) shall invest shall be determined by the Director or the Thrift Depositor Protection Oversight Board (as the case may be) by multiplying the aggregate amount of such investment by all Banks by the percentage appearing in the following table for each such Bank:  BankPercentage Federal Home Loan Bank of Boston1.8629 Federal Home Loan Bank of New York9.1006 Federal Home Loan Bank of Pittsburgh4.2702 Federal Home Loan Bank of Atlanta14.4007 Federal Home Loan Bank of Cincinnati8.2653 Federal Home Loan Bank of Indianapolis5.2863 Federal Home Loan Bank of Chicago9.6886 Federal Home Loan Bank of Des Moines6.9301 Federal Home Loan Bank of Dallas8.8181 Federal Home Loan Bank of Topeka5.2706 Federal Home Loan Bank of San Francisco19.9644 Federal Home Loan Bank of Seattle6.1422
+
+(5) Pro rata distribution of amounts required to be invested in excess of $1,000,000,000 Of any amount which the Thrift Depositor Protection Oversight Board may require the Federal Home Loan Banks to invest in capital stock of the Funding Corporation under this subsection in excess of the $1,000,000,000 amount referred to in paragraph (4), the amount which each Federal Home Loan Bank (or any successor to such Bank) shall invest shall be determined by the Thrift Depositor Protection Oversight Board by multiplying the excess amount by the percentage arrived at by dividing—
+
+(A) the sum of the total assets (as of the most recent December 31) held by all Savings Association Insurance Fund members as of the date of funding which are members of such Bank; by
+
+(B) the sum of the total assets (as of such date) held by all Savings Association Insurance Fund members as of the date of funding which are members of a Federal Home Loan Bank.
+
+(6) Special provisions relating to maximum amount limitations (A) In general If the amount of any Federal Home Loan Bank’s allocation under paragraph (5) exceeds the maximum amount applicable with respect to such Bank (in this paragraph referred to as a “deficient Bank”) under paragraph (3) at the time of such determination (in this paragraph referred to as the “excess amount”)—
+
+(i) the Thrift Depositor Protection Oversight Board shall require each Federal Home Loan Bank that is not allocated an amount under paragraph (5) that exceeds its maximum under paragraph (3) (in this paragraph referred to as a “remaining Bank”) to purchase stock in the Funding Corporation (in addition to the amount determined under paragraph (5) for such remaining Bank and subject to the maximum amount applicable with respect to such remaining Bank under paragraph (3) at the time of such determination) on behalf of the deficient Bank the amount determined under subparagraph (B);
+
+(ii) the Thrift Depositor Protection Oversight Board shall require the deficient Bank to subsequently reimburse the remaining Banks out of its net earnings (or reimbursements received from other Banks) in the manner described in subparagraphs (C) and (D); and
+
+(iii) the requirements contained in subparagraph (D) relating to the use of net earnings shall apply to the deficient Bank until such Bank has reimbursed the remaining Banks for all of the excess amount.
+
+(B) Allocation of excess amount among remaining Federal Home Loan Banks (i) In general The amount of stock each remaining Federal Home Loan Bank shall be required to purchase under subparagraph (A)(i) is the amount determined by the Thrift Depositor Protection Oversight Board by multiplying the excess amount by the percentage arrived at by dividing—
+
+(I) the cumulative amount of stock in the Funding Corporation purchased under this subsection by such remaining Bank at the time of such determination; by
+
+(II) the aggregate of the cumulative amounts invested under this subsection by all remaining Banks at such time.
+
+(ii) Reallocation If the allocation under this subparagraph results in a remaining Bank exceeding its maximum amount under paragraph (3), such excess amount shall be reallocated to the other remaining Bank in accordance with this subparagraph.
+
+(C) Reimbursement procedure (i) In general A Bank on whose behalf stock is purchased under subparagraph (A)(i) shall make payments annually from amounts, if any, in its reserve account (as described in subparagraph (D)) to each Bank that made payments on its behalf until a full reimbursement has been completed. A full reimbursement shall require repayment of the excess amounts invested by other Banks plus interest which shall accrue at a rate equal to the annual average cost of funds in the most recent year to all Federal Home Loan Banks and which shall begin to accrue 2 years after the investments under subparagraph (A)(i) are made.
+
+(ii) Determination of amounts The Thrift Depositor Protection Oversight Board shall annually determine the dollar amounts of such reimbursements by distributing the amount available for such reimbursements (at the time of such determination) from the reimbursing Bank to the Banks that made purchases on its behalf according to the shares of the reimbursing Bank’s excess amount that the other Banks invested.
+
+(D) Transfer to account for reimbursements required (i) In general Of the net earnings for any year of a Bank on whose behalf a purchase is made under subparagraph (A)(i) and any reimbursements received from other Banks, the amount necessary to make the reimbursements required under subparagraph (A)(ii) shall be placed in a reserve account (established in the manner prescribed by the Thrift Depositor Protection Oversight Board), which shall be available only for such reimbursements.
+
+(ii) Limitation The total amount placed in such reserve account in any year by any Bank shall not exceed an amount equal to 20 percent of the net earnings of such Bank for such year.
+
+(f) Obligations of Funding Corporation (1) Issuance The Funding Corporation may issue bonds, notes, debentures, and similar obligations in an aggregate amount not to exceed $30,000,000,000. No obligation may be issued under this paragraph unless, at the time of issuance, the face amounts (the amount of principal payable at maturity) of noninterest bearing instruments in the Funding Corporation Principal Fund are equal to the aggregate amount of principal on the obligations of the Funding Corporation that will be outstanding following such issuance.
+
+(2) Interest payments The Funding Corporation shall pay the interest due on such obligations from funds obtained for such interest payments from the following sources:
+
+(A) Earnings on certain assets Earnings on assets of the Funding Corporation which are not invested in the Funding Corporation Principal Fund shall be used for interest payments on outstanding debt of the Funding Corporation.
+
+(B) Proceeds from Resolution Trust Corporation To the extent the amounts available pursuant to subparagraph (A) are insufficient to cover the amount of interest payments, the Resolution Trust Corporation shall pay to the Funding Corporation—
+
+(i) the liquidating dividends and payments made on claims received by the Resolution Trust Corporation from receiverships to the extent such proceeds are determined by the Thrift Depositor Protection Oversight Board to be in excess of funds presently necessary for resolution costs; and
+
+(ii) any proceeds from warrants and participations acquired by the Resolution Trust Corporation.
+
+(C) Payments by Federal home loan banks (i) In general To the extent that the amounts available pursuant to subparagraphs (A) and (B) are insufficient to cover the amount of interest payments, each Federal home loan bank shall pay to the Funding Corporation in each calendar year, 20.0 percent of the net earnings of that Bank (after deducting expenses relating to section 1430(j) of this title and operating expenses).
+
+(ii) Annual determination The Director annually shall determine the extent to which the value of the aggregate amounts paid by the Federal home loan banks exceeds or falls short of the value of an annuity of $300,000,000 per year that commences on the issuance date and ends on the final scheduled maturity date of the obligations, and shall select appropriate present value factors for making such determinations, in consultation with the Secretary of the Treasury.
+
+(iii) Payment term alterations The Director shall extend or shorten the term of the payment obligations of a Federal home loan bank under this subparagraph as necessary to ensure that the value of all payments made by the Banks is equivalent to the value of an annuity referred to in clause (ii).
+
+(iv) Term beyond maturity If the Director extends the term of payment obligations beyond the final scheduled maturity date for the obligations, each Federal home loan bank shall continue to pay 20.0 percent of its net earnings (after deducting expenses relating to section 1430(j) of this title and operating expenses) to the Treasury of the United States until the value of all such payments by the Federal home loan banks is equivalent to the value of an annuity referred to in clause (ii). In the final year in which the Federal home loan banks are required to make any payment to the Treasury under this subparagraph, if the dollar amount represented by 20.0 percent of the net earnings of the Federal home loan banks exceeds the remaining obligation of the Banks to the Treasury, the Director shall reduce the percentage pro rata to a level sufficient to pay the remaining obligation.
+
+(v) Semiannual reports The Director shall report semiannually to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the projected date for the completion of contributions required by this section.
+
+(D) Proceeds from sale of assets To the extent the amounts available pursuant to subparagraphs (A), (B), and (C) are insufficient to cover the amount of interest payments, the FSLIC Resolution Fund shall transfer to the Funding Corporation any net proceeds from the sale of assets received from the Resolution Trust Corporation, which shall be used by the Funding Corporation to pay such interest.
+
+(E) Treasury backup (i) In general To the extent the amounts available pursuant to subparagraphs (A), (B), (C), and (D) are insufficient to cover the amount of interest payments, the Secretary of the Treasury shall pay to the Funding Corporation the additional amount due, which shall be used by the Funding Corporation to pay such interest.
+
+(ii) Liability of Funding Corporation In each instance where the Secretary is required to make a payment under this subparagraph to the Funding Corporation, the amount of the payment shall become a liability of the Funding Corporation to be repaid to the Secretary upon dissolution of the Funding Corporation (to the extent the Funding Corporation may have any remaining assets).
+
+(iii) Appropriation of funds There are hereby appropriated to the Secretary, for fiscal year 1989 and each fiscal year thereafter, such sums as may be necessary to carry out clause (i).
+
+(3) Principal payments On maturity of an obligation issued under this subsection, the obligation shall be repaid by the Funding Corporation from the liquidation of noninterest bearing instruments held in the Funding Corporation Principal Fund.
+
+(4) Proceeds to be transferred to Resolution Trust Corporation Subject to terms and conditions approved by the Thrift Depositor Protection Oversight Board, the proceeds (less any discount, plus any premium, net of issuance costs) of any obligation issued by the Funding Corporation shall be used to—
+
+(A) purchase the capital certificates issued by the Resolution Trust Corporation under section 1441a of this title; or
+
+(B) refund any previously issued obligation the proceeds of which were transferred in the manner described in subparagraph (A).
+
+(5) Investment of United States funds in obligations Obligations issued under this section by the Funding Corporation, at the direction of the Thrift Depositor Protection Oversight Board shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer of the United States.
+
+(6) Market for obligations All persons having the power to invest in, sell, underwrite, purchase for their own accounts, accept as security, or otherwise deal in obligations of the Federal Home Loan Banks shall also have the power to do so with respect to obligations of the Funding Corporation.
+
+(7) Tax exempt status (A) In general Except as provided in subparagraph (B), obligations of the Funding Corporation shall be exempt from tax both as to principal and interest to the same extent as any obligation of a Federal Home Loan Bank is exempt from tax under section 1433 of this title.
+
+(B) Exception The Funding Corporation, like the Federal Home Loan Banks, shall be treated as an agency of the United States for purposes of the first sentence of section 3124(b) of title 31 (relating to determination of tax status of interest on obligations).
+
+(8) Obligations not exempt securities (A) In general For purposes of the laws administered by the Securities and Exchange Commission, obligations of the Funding Corporation—
+
+(i) shall not be considered to be securities issued or guaranteed by a person controlled or supervised by, or acting as an instrumentality of, the Government of the United States; and
+
+(ii) shall not be considered to be “exempted securities” within the meaning of section 78c(a)(12)(A)(i) of title 15, except that such obligations shall be considered to be exempted securities for purposes of section 78o of title 15.
+
+(B) Authority of Commission Notwithstanding subparagraph (A), the Securities and Exchange Commission may, by rule or order, consistent with the public interest and the protection of investors, exempt securities issued by the Funding Corporation from the registration requirements of the Securities Act of 1933 [15 U.S.C. 77a et seq.], subject to such terms and conditions as the Commission may prescribe.
+
+(9) Minority participation in public or negotiated offerings The Thrift Depositor Protection Oversight Board and the Directorate shall ensure that minority owned or controlled commercial banks, investment banking firms, underwriters, and bond counsels throughout the United States have an opportunity to participate to a significant degree in any public or negotiated offering of obligations issued under this section.
+
+(10) No full faith and credit of the United States Obligations of the Funding Corporation shall not be obligations of, or guaranteed as to principal by, the Federal Home Loan Bank System, the Federal Home Loan Banks, the United States, or the Resolution Trust Corporation and the obligations shall so plainly state. The Secretary shall pay interest on such obligations as required pursuant to this subsection.
+
+(g) Use and disposition of assets of Funding Corporation not transferred to Resolution Trust Corporation (1) In general Subject to regulations, restrictions, and limitations prescribed by the Thrift Depositor Protection Oversight Board, assets of the Funding Corporation which are not required to be invested in capital certificates issued by the Resolution Trust Corporation under section 1441a of this title and are not needed for current interest payments shall be invested in direct obligations of the United States issued by the Secretary.
+
+(2) Separate account for zero coupon instruments held to ensure payment of principal Except as provided in subsection (e)(8), the Funding Corporation shall invest amounts received pursuant to subsection (e) in, and hold in a separate account to be known as the Funding Corporation Principal Fund, noninterest bearing instruments—
+
+(A) which are direct obligations of the United States issued by the Secretary; and
+
+(B) the total of the face amounts (the amount of principal payable at maturity) of which is approximately equal to the aggregate amount of principal on the obligations of the Funding Corporation.
+
+(h) Miscellaneous provisions (1) Treatment for certain purposes Except as provided in subsection (f)(7)(B), the Funding Corporation shall be treated as a Federal Home Loan Bank for purposes of section 1433 of this title (to the extent such section relates to State, municipal, and local taxation) and section 1443 of this title.
+
+(2) Federal Reserve banks as depositaries and fiscal agents The Federal Reserve banks are authorized to act as depositaries for or fiscal agents or custodians of the Funding Corporation.
+
+(3) Applicability of certain provisions relating to Government corporations The Funding Corporation shall be treated, for purposes of sections 9105,11 See References in Text note below. 9107, and 9108 of title 31, as a mixed-ownership Government corporation which has capital of the Government.
+
+(4) Jurisdiction and power to remove (A) Federal court jurisdiction Notwithstanding any other provision of law, any civil action, suit, or proceeding to which the Funding Corporation is a party shall be deemed to arise under the laws of the United States, and the United States district courts shall have original jurisdiction over such action, suit, or proceeding.
+
+(B) Removal The Funding Corporation may, without bond or security, remove any such action, suit, or proceeding from a State court to the United States District Court for the District of Columbia.
+
+(i) Annual report (1) In general The Thrift Depositor Protection Oversight Board shall annually submit a full report of the operations, activities, budget, receipts, and expenditures of the Funding Corporation for the preceding 12-month period.
+
+(2) Contents The report required under paragraph (1) shall include—
+
+(A) audited statements and any information necessary to make known the financial condition and operations of the Funding Corporation in accordance with generally accepted accounting principles;
+
+(B) the financial operating plans and forecasts (including estimates of actual and future spending, and estimates of actual and future cash obligations) of the Funding Corporation taking into account its financial commitments, guarantees, and other contingent liabilities; and
+
+(C) the results of the annual audit of the financial transactions of the Funding Corporation conducted by the Comptroller General pursuant to section 9105(a) of title 31.
+
+(3) Submission to Congress and President The Thrift Depositor Protection Oversight Board shall submit each annual report required under this subsection to the Congress and the President as soon as practicable after the end of the calendar year for which the report is made, but not later than June 30 of the year following such calendar year.
+
+(j) Termination of Funding Corporation (1) In general The Funding Corporation shall be dissolved, as soon as practicable, after the maturity and full payment of all obligations issued by the Funding Corporation under this section.
+
+(2) Authority of Thrift Depositor Protection Oversight Board to conclude affairs of Funding Corporation Effective on the date of the dissolution of the Funding Corporation under paragraph (1), the Thrift Depositor Protection Oversight Board may exercise on behalf of the Funding Corporation any power of the Funding Corporation which the Thrift Depositor Protection Oversight Board determines to be necessary to settle and conclude the affairs of the Funding Corporation.
+
+(k) Definitions For purposes of this section, the following definitions shall apply:
+
+(1) Administrative expenses The term “administrative expenses” does not include—
+
+(A) any interest on, or any redemption premium with respect to, any obligation of the Funding Corporation; or
+
+(B) issuance costs.
+
+(2) Custodian fee The term “custodian fee” means—
+
+(A) any fee incurred by the Funding Corporation in connection with the transfer of any security to, or the maintenance of any security in, the segregated account established under subsection (g); and
+
+(B) any other expense incurred by the Funding Corporation in connection with the establishment or maintenance of such account.
+
+(3) Funding Corporation The term “Funding Corporation” means the Resolution Funding Corporation established in subsection (b).
+
+(4) Funding Corporation Principal Fund The term “Funding Corporation Principal Fund” means the separate account established under subsection (g)(2).
+
+(5) Issuance costs The term “issuance costs”—
+
+(A) means issuance fees and commissions incurred by the Funding Corporation in connection with the issuance or servicing of any obligation of the Funding Corporation; and
+
+(B) includes legal and accounting expenses, trustee and fiscal and paying agent charges, costs incurred in connection with preparing and printing offering materials, and advertising expenses, to the extent that any such cost or expense is incurred by the Funding Corporation in connection with issuing any obligation.
+
+(6) Net earnings The term “net earnings” means net earnings without reduction for chargeoffs or expenses incurred by a Federal Home Loan Bank for the purchase of capital stock of the Financing Corporation or payments relating to the Funding Corporation required by the Thrift Depositor Protection Oversight Board under subsections (e) and (f).
+
+(7) Thrift Depositor Protection Oversight Board The term “Thrift Depositor Protection Oversight Board” means—
+
+(A) the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation under section 1441a of this title; and
+
+(B) after the termination of the Resolution Trust Corporation—
+
+(i) the Secretary of the Treasury;
+
+(ii) the Chairman of the Board 22 See 2008 Amendment note below. of Governors of the Federal Reserve System; and
+
+(iii) the Secretary of Housing and Urban Development.
+
+(8) Secretary The term “Secretary” means the Secretary of the Treasury.
+
+(9) Undivided profits The term “undivided profits” means earnings retained after dividends have been paid minus the sum of—
+
+(A) that portion required to be added to reserves maintained pursuant to the first 2 sentences of section 1436 of this title; and
+
+(B) the dollar amounts held by the respective Federal Home Loan Banks in special dividend stabilization reserves on December 31, 1985, as determined by the table set forth in section 1441(d)(7) of this title.
+
+(l) Regulations The Thrift Depositor Protection Oversight Board may prescribe any regulations necessary to carry out this section.
+
+(July 22, 1932, ch. 522, § 21B, as added Pub. L. 101–73, title V, § 511(a), Aug. 9, 1989, 103 Stat. 394; amended Pub. L. 102–233, title III, § 302(b), Dec. 12, 1991, 105 Stat. 1767; Pub. L. 102–550, title XVI, § 1613(a)(7), (9), Oct. 28, 1992, 106 Stat. 4092; Pub. L. 104–208, div. A, title II, § 2704(d)(5), (11)(E), (F), Sept. 30, 1996, 110 Stat. 3009–488, 3009–489; Pub. L. 106–102, title VI, § 607(a), Nov. 12, 1999, 113 Stat. 1455; Pub. L. 109–171, title II, § 2102(b), Feb. 8, 2006, 120 Stat. 9; Pub. L. 109–173, § 9(d)(7), (8), Feb. 15, 2006, 119 Stat. 3617; Pub. L. 110–289, div. A, title II, §§ 1204(8)–(10), (12), 1213, July 30, 2008, 122 Stat. 2786, 2791.)
+
+## Notes
+
+Editorial Notes
+
+References in TextThe Securities Act of 1933, referred to in subsec. (f)(8)(B), is act May 27, 1933, ch. 38, title I, 48 Stat. 74, which is classified generally to subchapter I (§ 77a et seq.) of chapter 2A of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 77a of Title 15 and Tables. Section 9105 of title 31, referred to in subsec. (h)(3), was amended generally by Pub. L. 101–576, title III, § 305, Nov. 15, 1990, 104 Stat. 2853, and, as so amended, no longer contains provisions relating to mixed-ownership Government corporations having capital of the Government.
+
+Amendments2008—Subsecs. (c)(6)(B), (e)(4). Pub. L. 110–289, § 1204(12), substituted “Director” for “Federal Housing Finance Board” wherever appearing. Subsec. (f)(2)(C)(ii) to (iv). Pub. L. 110–289, § 1204(8)–(10), substituted, in cls. (ii) and (iii), “The Director” for “The Board” and, in cl. (iv), “the Director” for “the Board” before “extends” and “the Director” for “the Finance Board” before “shall reduce”. Subsec. (f)(2)(C)(v). Pub. L. 110–289, § 1213, added cl. (v). Subsec. (k)(7)(B)(ii). Pub. L. 110–289, § 1204(8), which directed amendment of the Federal Home Loan Bank Act (this chapter) by substituting “the Director” for “the Board” wherever appearing, was not executed to subsec. (k)(7)(B)(ii), to reflect the probable intent of Congress. 2006—Subsec. (e). Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(11)(E). See 1996 Amendment note below. Subsec. (e)(5). Pub. L. 109–173, § 9(d)(7)(A), inserted “as of the date of funding” after “Savings Association Insurance Fund members” in subpars. (A) and (B). Subsec. (e)(7), (8). Pub. L. 109–173, § 9(d)(7)(B), struck out pars. (7) and (8) which related to additional sources to fund the Funding Corporation Principal Fund and a transfer of funds to the Resolution Trust Corporation in fiscal year 1989, respectively. Subsec. (f)(2)(C)(ii)(I), (II). Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(5). See 1996 Amendment note below. Subsec. (k). Pub. L. 109–173, § 9(d)(8)(A), in introductory provisions, inserted before colon “, the following definitions shall apply”. Subsec. (k)(8) to (10). Pub. L. 109–173, § 9(d)(8)(B), (C), redesignated pars. (9) and (10) as (8) and (9), respectively, and struck out heading and text of former par. (8). Text read as follows: “The term ‘Savings Association Insurance Fund member’ means a Savings Association Insurance member as such term is defined by section 1817(l) of this title.” Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(11)(F). See 1996 Amendment note below. 1999—Subsec. (f)(2)(C). Pub. L. 106–102 amended subpar. (C) generally, substituting present provisions for provisions requiring Federal Home Loan Banks to pay to the Funding Corporation each calendar year an amount sufficient to cover amount of interest payments made by the Corporation in that year, and provisions relating to determination of each Bank’s individual share of such annual amount. 1996—Subsec. (e). Pub. L. 104–208, § 2704(d)(11)(E), which directed the amendment of subsec. (e) by inserting, in par. (5), “as of the date of funding” after “Savings Association Insurance Fund members” in two places and by striking par. (7) and redesignating par. (8) as (7), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above. Subsec. (f)(2)(C)(ii)(I), (II). Pub. L. 104–208, § 2704(d)(5), which directed the amendment of subcls. (I) and (II) by substituting “to insured depository institutions, and their successors, which were Savings Association Insurance Fund members on September 1, 1995” for “to Savings Associations Insurance Fund members”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below. Subsec. (k)(8) to (10). Pub. L. 104–208, § 2704(d)(11)(F), which directed the amendment of subsec. (k) by striking par. (8) and redesignating pars. (9) and (10) as (8) and (9), respectively, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above. 1992—Subsecs. (c)(8), (j)(2). Pub. L. 102–550, § 1613(a)(7), inserted “Thrift Depositor Protection” before “Oversight” in headings. Subsec. (k)(7). Pub. L. 102–550, § 1613(a)(9), substituted “Thrift Depositor Protection Oversight” for “Oversight” in heading. 1991—Pub. L. 102–233 substituted “Thrift Depositor Protection Oversight Board” for “Oversight Board” wherever appearing in text.
+
+Statutory Notes and Related Subsidiaries
+
+Effective Date of 2006 AmendmentAmendment by Pub. L. 109–173 effective Mar. 31, 2006, see section 9(j) of Pub. L. 109–173, set out as a note under section 24 of this title. Amendment by Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title.
+
+Effective Date of 1999 AmendmentPub. L. 106–102, title VI, § 607(b), Nov. 12, 1999, 113 Stat. 1456, provided that: “The amendment made by subsection (a) [amending this section] shall become effective on January 1, 2000. Payments made by a Federal home loan bank before that effective date shall be counted toward the total obligation of that Bank under section 21B(f)(2)(C) of the Federal Home Loan Bank Act [12 U.S.C. 1441b(f)(2)(C)], as amended by this section.”
+
+Effective Date of 1996 AmendmentAmendment by Pub. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) of Pub. L. 104–208, formerly set out as a note under section 1821 of this title.
+
+Effective Date of 1992 AmendmentAmendment by Pub. L. 102–550 effective as if included in the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991, Pub. L. 102–233, as of Dec. 12, 1991, see section 1618 of Pub. L. 102–550, set out as a note under section 1441 of this title.
+
+Effective Date of 1991 AmendmentAmendment by Pub. L. 102–233 effective Feb. 1, 1992, see section 318 of Pub. L. 102–233, set out as a note under section 1441 of this title.
+
+Abolition of Thrift Depositor Protection Oversight Board Thrift Depositor Protection Oversight Board abolished, see section 14(a)–(d) of Pub. L. 105–216, formerly set out as a note under section 1441a of this title.

legal/us/code/title-12/chapter-11/section-1442.md

@@ -0,0 +1,55 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1442"
+description: "Member financial information"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1442"
+citation: "12 U.S.C. § 1442"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1442"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "6504e5f2a465d917337c9008309c275fc50249dfa3fc472af0cc8d69a3d17906"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "2b288bac784f022ebc0192d5082d8c1c9731d2c42e9b3d3cd9d2c278b32693ee"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1442 - Member financial information
+
+## Text
+
+(a) In general In order to enable the Federal Home Loan Banks to carry out the provisions of this chapter, the Secretary of the Treasury, the Comptroller of the Currency, the Chairman of the Board 11 See 2008 Amendment note below. of Governors of the Federal Reserve System, the Chairperson of the Federal Deposit Insurance Corporation, the Chairperson of the National Credit Union Administration, and the Director of the Office of Thrift Supervision, upon request by any Federal Home Loan Bank—
+
+(1) shall make available in confidence to any Federal Home Loan Bank, such reports, records, or other information as may be available, relating to the condition of any member of any Federal Home Loan Bank or any institution with respect to which any such Bank has had or contemplates having transactions under this chapter; and
+
+(2) may perform through their examiners or other employees or agents, for the confidential use of the Federal Home Loan Bank, examinations of institutions for which such agency is the appropriate Federal banking regulatory agency.
+
+In addition, the Comptroller of the Currency, the Chairman of the Board 1 of Governors of the Federal Reserve System, the Chairperson of the National Credit Union Administration, and the Director of the Office of Thrift Supervision shall make available to the Director or any Federal Home Loan Bank the financial reports filed by members of any Bank to enable the Director or a Bank to compile and publish cost of funds indices or other financial or statistical reports.
+
+(b) Consent by members Every member of a Federal Home Loan Bank shall, as a condition precedent thereto, be deemed—
+
+(1) to consent to such examinations as the Bank or the Director may require for the purposes of this chapter;
+
+(2) to agree that reports of examinations by local, State, or Federal agencies or institutions may be furnished by such authorities to the Bank or the Director upon request; and
+
+(3) to agree to give the Bank or the Federal agency, upon request, such information as they may need to compile and publish cost of funds indices and to publish other reports or statistical summaries pertaining to the activities of Bank members.
+
+(July 22, 1932, ch. 522, § 22, 47 Stat. 739; Pub. L. 101–73, title VII, § 719, Aug. 9, 1989, 103 Stat. 422; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289 substituted “the Director” for “the Board” wherever appearing, except in two places in subsec. (a). See note below. Subsec. (a). Pub. L. 110–289, which directed amendment of the Federal Home Loan Bank Act (this chapter) by substituting “the Director” for “the Board” wherever appearing, was not executed to subsec. (a) in two places where “the Board” appeared before “of Governors of the Federal Reserve System”, to reflect the probable intent of Congress. 1989—Pub. L. 101–73 amended section generally. Prior to amendment, section read as follows: “(a) In order to enable the board to carry out the provisions of this chapter, the Treasury Department, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal reserve banks are authorized, under such conditions as they may prescribe, to make available to the board in confidence for its use and the use of any Federal Home Loan Bank such reports, records, or other information as may be available, relating to the condition of institutions with respect to which any such Federal Home Loan Bank has had or contemplates having transactions under this chapter or relating to persons whose obligations are offered to or held by any Federal Home Loan Bank, and to make through their examiners or other employees, for the confidential use of the board or any Federal Home Loan Bank, examinations of such institutions. “(b) Every institution which shall apply for advances under this chapter shall, as a condition precedent thereto, consent to such examination as the bank or the board may require for the purposes of this chapter and/or that reports of examinations by constituted authorities may be furnished by such authorities to the bank or the board upon request therefor.”

legal/us/code/title-12/chapter-11/section-1442a.md

@@ -0,0 +1,33 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1442a"
+description: "Repealed. Pub. L. 106–102, title VI, § 606(c), Nov. 12, 1999, 113 Stat. 1454"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1442a"
+citation: "12 U.S.C. § 1442a"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1442a"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "2eea7d43a934be63d0c3c8413ab4d6cb3d4c2fc64790361a9367785b9a7c54a6"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "436c6de359be689dc4242585656e244ff6ceb47bdc125aabe9f6572a7f31b27c"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1442a - Repealed. Pub. L. 106–102, title VI, § 606(c), Nov. 12, 1999, 113 Stat. 1454
+
+## Notes
+
+Section, act July 22, 1932, ch. 522, § 22A, as added Aug. 10, 1987, Pub. L. 100–86, title IV, § 407(d), 101 Stat. 617, related to informal review of certain supervisory decisions.

legal/us/code/title-12/chapter-11/section-1443.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1443"
+description: "Forms of bank stock and obligations"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1443"
+citation: "12 U.S.C. § 1443"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1443"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "8c74314f70f18d40d3dbb7c8731126aa0b948d78794e7a9dde983fd32ce22ae7"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "b72ce5386bb7b81b876e31fabe1e00713b02df7af1e05b6dd34d42a239a3af9a"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1443 - Forms of bank stock and obligations
+
+## Text
+
+Any stock, debentures, bonds, notes, or other obligations issued under the authority of this chapter may be issued in uncertificated form, utilizing a book entry method, or in certificated form under such rules, regulations, or guidelines as the Director 11 See 2008 Amendment note below. may provide.
+
+(July 22, 1932, ch. 522, § 23, 47 Stat. 739; Pub. L. 101–73, title VII, § 717, Aug. 9, 1989, 103 Stat. 422; Pub. L. 110–289, div. A, title II, § 1204(8), (12), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289, which directed amendment of the Federal Home Loan Bank Act (this chapter) by substituting “the Director” for “the Board” and “Director” for “Federal Housing Finance Board” wherever appearing, was executed to this section by substituting “the Director” for “the Board of Directors of the Federal Housing Finance Board”, to reflect the probable intent of Congress. 1989—Pub. L. 101–73 amended section generally. Prior to amendment, section read as follows: “In order that the Federal Home Loan Banks may be supplied with such forms of stock, debentures, and bonds as may be necessary under this chapter, the Secretary of the Treasury is authorized to prepare such forms thereof as shall be suitable and approved by the board, which shall be held in the Treasury subject to delivery, upon order of the board. The engraved plates, dies, and bed pieces executed in connection therewith shall remain in the custody of the Secretary of the Treasury. The board shall reimburse the Secretary of the Treasury for any expense incurred in the preparation, custody, and delivery of such stock, debentures, and bonds.”

legal/us/code/title-12/chapter-11/section-1444.md

@@ -0,0 +1,49 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1444"
+description: "Eligibility to membership in banks"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1444"
+citation: "12 U.S.C. § 1444"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1444"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "b460dda7fa3bc2de2d38eb32a33e1bba716211763158114b5cc15073161cb33c"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "c19ea9851da3d2465aa792e2948f1ca00e9af18cccb4eb65c33d31037c65f2a7"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1444 - Eligibility to membership in banks
+
+## Text
+
+(a) Any organization organized under the laws of any State and subject to inspection and regulation under the banking or similar laws of such State shall be eligible to become a member under this chapter if—
+
+(1) it is organized solely for the purpose of supplying credit to its members;
+
+(2) its membership (A) is confined exclusively to building and loan associations, savings and loan associations, cooperative banks, and homestead associations; or (B) is confined exclusively to savings banks; and
+
+(3) of the institutions to which its membership is confined which are organized within the State, its membership includes a majority of such institutions.
+
+(b) In all respects, but subject to such additional rules and regulations as the Director may provide, any such organization shall be a member for the purposes of this chapter.
+
+(July 22, 1932, ch. 522, § 24, 47 Stat. 739; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Subsec. (b). Pub. L. 110–289 substituted “the Director” for “the Board”. 1989—Subsec. (b). Pub. L. 101–73 substituted “Board” for “board”.

legal/us/code/title-12/chapter-11/section-1445.md

@@ -0,0 +1,41 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1445"
+description: "Succession of Federal Home Loan Banks"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1445"
+citation: "12 U.S.C. § 1445"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1445"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "6f4b54f689d8ca6ad0693364bc857de61bab62a320296690c625f27ddb91692a"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "d56126dc5b0b22dfeb533d33dbc803bd0234a626e99e438a710a450fec080ede"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1445 - Succession of Federal Home Loan Banks
+
+## Text
+
+Each Federal Home Loan Bank shall have succession until dissolved by the Director under this chapter or by further act of Congress.
+
+(July 22, 1932, ch. 522, § 25, 47 Stat. 740; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, § 1204(8), July 30, 2008, 122 Stat. 2786.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289 substituted “the Director” for “the Board”. 1989—Pub. L. 101–73 substituted “Board” for “board”.

legal/us/code/title-12/chapter-11/section-1446.md

@@ -0,0 +1,45 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1446"
+description: "Liquidation or reorganization; acquisition of assets by other banks; assumption of liabilities"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1446"
+citation: "12 U.S.C. § 1446"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1446"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "751a6bb740d5b56d3844c2dd199ee604a41011e6a11d23131e9bb7b21e7ecf3b"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "bf50287921a11e25bd44eddbc28e15b18fd7d29d65e10a4f4a7382c4c98b4338"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1446 - Liquidation or reorganization; acquisition of assets by other banks; assumption of liabilities
+
+## Text
+
+(a) In general Whenever the Director finds that the efficient and economical accomplishment of the purposes of this chapter will be aided by such action, and in accordance with such rules, regulations, and orders as the Director may prescribe, any Federal Home Loan Bank may be liquidated or reorganized, and its stock paid off and retired in whole or in part in connection therewith after paying or making provision for the payment of its liabilities. In the case of any such liquidation or reorganization, any other Federal Home Loan Bank may, with the approval of the Director, acquire assets of any such liquidated or reorganized bank and assume liabilities thereof, in whole or in part. At least 30 days prior to liquidating or reorganizing any Bank under this section, the Director shall notify the Bank of its determination and the facts and circumstances upon which such determination is based. The Bank may contest that determination in a hearing before the Director, in which all issues shall be determined on the record pursuant to section 554 of title 5.
+
+(b) Voluntary mergers authorized (1) In general Any Federal Home Loan Bank may, with the approval of the Director and of the boards of directors of the Banks involved, merge with another Bank.
+
+(2) Regulations required The Director shall promulgate regulations establishing the conditions and procedures for the consideration and approval of any voluntary merger described in paragraph (1), including the procedures for Bank member approval.
+
+(July 22, 1932, ch. 522, § 26, 47 Stat. 740; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, §§ 1204(8), 1209, 1214, July 30, 2008, 122 Stat. 2786, 2789, 2791.)
+
+## Notes
+
+Editorial Notes
+
+Amendments2008—Pub. L. 110–289, § 1209, designated existing provisions as subsec. (a), inserted heading, and added subsec. (b). Pub. L. 110–289, § 1204(8), substituted “the Director” for “the Board” wherever appearing. Subsec. (a). Pub. L. 110–289, § 1214, which directed insertion of “At least 30 days prior to liquidating or reorganizing any Bank under this section, the Director shall notify the Bank of its determination and the facts and circumstances upon which such determination is based. The Bank may contest that determination in a hearing before the Director, in which all issues shall be determined on the record pursuant to section 554 of title 5.” at the end of this section, was executed by making the insertion at the end of subsec. (a), to reflect the probable intent of Congress and the amendment by Pub. L. 110–289, § 1209. See above. 1989—Pub. L. 101–73 substituted “Board” for “board” wherever appearing.

legal/us/code/title-12/chapter-11/section-1447.md

@@ -0,0 +1,35 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1447"
+description: "Repealed. Pub. L. 106–102, title VI, § 606(c), Nov. 12, 1999, 113 Stat. 1454"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1447"
+citation: "12 U.S.C. § 1447"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1447"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "9db95ccdccc018095c4091c86dcb442565ef61c51b23130677980cc13b241ee8"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "52da93356f902d3612db20573cf9803bf5c78a98ea4a5292e61e608c1573f06c"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1447 - Repealed. Pub. L. 106–102, title VI, § 606(c), Nov. 12, 1999, 113 Stat. 1454
+
+## Notes
+
+Section, act July 22, 1932, ch. 522, § 27, as added Pub. L. 103–204, § 18, Dec. 17, 1993, 107 Stat. 2401, related to Housing Opportunity Hotline program.
+
+A prior section 1447, act July 22, 1932, ch. 522, § 27, 47 Stat. 740, related to institutions authorized to subscribe for stock of banks, prior to repeal by Pub. L. 101–73, title VII, § 704(c), Aug. 9, 1989, 103 Stat. 416.

legal/us/code/title-12/chapter-11/section-1448.md

@@ -0,0 +1,35 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1448"
+description: "Effect of partial invalidity of chapter"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1448"
+citation: "12 U.S.C. § 1448"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1448"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "6f5d6433441a9c991a240e91639e567e43482f0f85d33e420d2605322aedd5ee"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "b9a5733bdda7271dee527ca014e8b2760f92afb63a2b77723743da2113c7044e"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1448 - Effect of partial invalidity of chapter
+
+## Text
+
+If any provision of this chapter, or the application thereof to any person or circumstances, is held invalid, the remainder of the chapter, and the application of such provision to other persons or circumstances, shall not be affected thereby.
+
+(July 22, 1932, ch. 522, § 28, 47 Stat. 740.)

legal/us/code/title-12/chapter-11/section-1449.md

@@ -0,0 +1,35 @@
+---
+type: "LegalText"
+title: "12 U.S.C. § 1449"
+description: "Reservation of right to amend or repeal chapter"
+jurisdiction: "us"
+corpus: "united_states_code"
+kind: "code_section"
+title_number: 12
+title_name: "BANKS AND BANKING"
+chapter_number: "11"
+chapter_name: "FEDERAL HOME LOAN BANKS"
+section: "1449"
+citation: "12 U.S.C. § 1449"
+status: "current"
+release_point: "119-100"
+release_date: "2026-06-26"
+source: "official"
+source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
+source_identifier: "/us/usc/t12/s1449"
+source_file: "data/legal/raw/us/code/title-12/usc12.xml"
+source_hash: "e417f051c9b8bca0e7504a9a6fff04b10baaaed751bd5e2388a107d35e316d05"
+raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
+text_hash: "5dd61d74af3f2c88a10543c9f8abd146d070d10a30eb00ce8cf46e568a6ac54c"
+retrieved_at: "2026-07-04"
+confidence: "official"
+tags: ["legal", "us-code"]
+---
+
+# 12 U.S.C. § 1449 - Reservation of right to amend or repeal chapter
+
+## Text
+
+The right to alter, amend, or repeal this chapter is expressly reserved.
+
+(July 22, 1932, ch. 522, § 30, 47 Stat. 741.)