Title 12, Banks and BankingRelease 119-102
§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
Summary
Each System bank can buy its own bonds and other System banks’ bonds and sell its bonds (including consolidated or Systemwide) through agents, negotiation, bids, syndicates, and electronic delivery.
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
Aug 21, 2026
Release point: 119-102