Title 12 — Banks and BankingRelease 119-73
§1434 Depositaries of public money; financial agents
Title 12 › Chapter CHAPTER 11— - FEDERAL HOME LOAN BANKS › § 1434
Summary
When the Secretary of the Treasury chooses a Federal Home Loan Bank for the job, the bank must hold public money (but not customs receipts) and follow the rules the Secretary sets. The bank can also serve as the Government’s financial agent and must carry out any reasonable duties those roles require.
Full Legal Text
Title 12, §1434
Banks and Banking — Source: USLM XML via OLRC
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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1434
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73