Title 12, Banks and BankingRelease 119-102
§2158 Purchase and Sale by Federal Reserve System
Title 12 › CHAPTER 23 — FARM CREDIT SYSTEM › SUBCHAPTER IV — PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM › Part A — Funding › § 2158
Summary
Federal Reserve members can buy or sell bonds under this chapter; Reserve banks must follow the same rules and limits applied to state and local bonds.
Full Legal Text
Title 12, §2158
Banks and Banking, Source: USLM XML via OLRC
Any member of the Federal Reserve System may buy and sell bonds, debentures, or other similar obligations issued under the authority of this chapter and any Federal Reserve bank may buy and sell such obligations to the same extent and subject to the same limitations placed upon the purchase and sale by said banks of State, county, district, and municipal bonds under section 355 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2158
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102