Title 12 — Banks and BankingRelease 119-73not60

§2159 Purchase and Sale of Obligations

Title 12 › Chapter 23— FARM CREDIT SYSTEM › Subchapter IV— PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM › Part A— Funding › § 2159

Last updated Apr 3, 2026|Official source

Summary

Each bank in the System may buy its own bonds or other debt and may buy the bonds or debt of other System banks. A bank may also sell bonds it issues, combined (consolidated) bonds, or Systemwide bonds through a financial agent. Sales can be done by private deals, public offers, bids, or syndicate sales. The banks may deliver the securities by electronic record, wire transfer, or other suitable means.

Full Legal Text

Title 12, §2159

Banks and Banking — Source: USLM XML via OLRC

Each bank of the System may purchase its own obligations and the obligations of other banks of the System and may provide for the sale of obligations issued by it, consolidated obligations, or Systemwide obligations through a fiscal agent or agents, by negotiation, offer, bid, syndicate sale, and to deliver such obligations by book entry, wire transfer, or such other means as may be appropriate.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2018—Pub. L. 115–334 struck out subsec. (a) designation before “Each bank” and struck out subsec. (b) which described conditions under which each bank of the System could reduce the cost of its borrowings and amortize certain capitalizations through Dec. 31, 1992. 1988—Subsec. (b). Pub. L. 100–233 substituted “

December 31, 1992” for “

December 31, 1988” in two places. 1986—Pub. L. 99–509 designated existing provisions as subsec. (a) and added subsec. (b).

Reference

Citations & Metadata

Citation

12 U.S.C. § 2159

Title 12 — Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60