---
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.)