Title 12 — Banks and BankingRelease 119-73not60
§2287 Initial Capital
Title 12 › Chapter 24— FEDERAL FINANCING BANK › § 2287
Summary
Treasury may advance funds to give the Bank its initial capital. Those advances must earn at least a rate set by the Secretary, based on current yields of similar U.S. securities. Interest can be deferred but still accrues at that rate. Up to $100,000,000 is authorized and available without a fiscal-year limit.
Full Legal Text
Title 12, §2287
Banks and Banking — Source: USLM XML via OLRC
The Secretary of the Treasury is authorized to advance the funds necessary to provide initial capital to the Bank. Each such advance shall be upon such terms and conditions as to yield a return at a rate not less than a rate determined by the Secretary of the Treasury, taking into consideration the current average yield on outstanding marketable obligations of the United States of comparable maturity. Interest payments on such advances may be deferred, at the discretion of the Secretary, but any such deferred payments shall themselves bear interest at the rate specified in this section. There is authorized to be appropriated not to exceed $100,000,000, which shall be available for the purposes of this section without fiscal year limitation.
Reference
Citations & Metadata
Citation
12 U.S.C. § 2287
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60