Title 12, Banks and BankingRelease 119-102
§1434 Depositaries of Public Money; Financial Agents
Title 12 › CHAPTER 11 — FEDERAL HOME LOAN BANKS › § 1434
Summary
If the Treasury Secretary chooses a Federal Home Loan Bank for the job, the bank must hold government money (not customs receipts), follow the Secretary’s rules, and carry out its duties as the government's financial agent.
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
Aug 21, 2026
Release point: 119-102