Title 12, Banks and BankingRelease 119-102
§2285a Acquisition of Obligations Involving Loan Guarantees for New York City
Title 12 › CHAPTER 24 — FEDERAL FINANCING BANK › § 2285a
Summary
The Federal Financing Bank cannot buy any loan or bond if its principal or interest was ever guaranteed, fully or partly, under Title I of the New York City Loan Guarantee Act of 1978.
Full Legal Text
Title 12, §2285a
Banks and Banking, Source: USLM XML via OLRC
Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire any obligation the payment of interest or principal of which has at any time been guaranteed in whole or in part under title I of the New York City Loan Guarantee Act of 1978.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
Title I of the New York City Loan Guarantee Act of 1978, referred to in text, is title I of Pub. L. 95–339, Aug. 8, 1978, 92 Stat. 460, which was classified generally to subchapter II (§ 1521 et seq.) of chapter 27 of former Title 31, and was omitted from the Code in the general revision and reenactment of Title 31, Money and Finance, by Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 877. Codification Section was enacted as part of the New York City Loan Guarantee Act of 1978, and not as part of the Federal Financing Bank Act of 1973 which comprises this chapter.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2285a
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102