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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 2285 Functions us united_states_code code_section 12 BANKS AND BANKING 24 FEDERAL FINANCING BANK 2285 12 U.S.C. § 2285 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s2285 data/legal/raw/us/code/title-12/usc12.xml 06077a5ed28a9b7763ae9ec370ddf82cae3e958c741c605dc27bae9853d5006c e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 175a5df9ae2f0467ff3c389412bd4d1233a2002ac3ae1f29c09748d9fa8cbbdf 2026-07-04 official
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12 U.S.C. § 2285 - Functions

Text

(a) Purchase and sale of obligations issued, sold, or guaranteed by Federal agencies The Bank is authorized to make commitments to purchase and sell, and to purchase and sell on terms and conditions determined by the Bank, any obligation which is issued, sold, or guaranteed by a Federal agency. Any Federal agency which is authorized to issue, sell, or guarantee any obligation is authorized to issue or sell such obligations directly to the Bank.

(b) Yield Any purchase by the Bank shall be upon such terms and conditions as to yield a return at a rate not less than a rate determined by the Secretary of the Treasury taking into consideration (1) the current average yield on outstanding marketable obligations of the United States of comparable maturity, or (2) whenever the Banks own obligations outstanding are sufficient, the current average yield on outstanding obligations of the Bank of comparable maturity.

(c) Fees The Bank is authorized to charge fees for its commitments and other services adequate to cover all expenses and to provide for the accumulation of reasonable contingency reserves.

(Pub. L. 93224, § 6, Dec. 29, 1973, 87 Stat. 938.)