Title 12 — Banks and BankingRelease 119-73not60

§4711 Investment of Receipts and Proceeds

Title 12 › Chapter 47— COMMUNITY DEVELOPMENT BANKING › Subchapter I— COMMUNITY DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS › § 4711

Last updated Apr 3, 2026|Official source

Summary

Put dividends and any proceeds from selling investments, deposits, or credit union shares the Fund gets because of certain assistance, plus related fees, into a Fund account held in the U.S. Treasury for that purpose. If the Fund’s Administrator asks, the Treasury Secretary will invest that money in U.S. government securities with maturities the Administrator needs and with interest like comparable market yields. The deposits and any interest stay available to the Fund until spent.

Full Legal Text

Title 12, §4711

Banks and Banking — Source: USLM XML via OLRC

(a)Any dividends on equity investments and proceeds from the disposition of investments, deposits, or credit union shares that are received by the Fund as a result of assistance provided pursuant to section 4707 or 4712 of this title, and any fees received pursuant to section 4708(f) of this title shall be deposited and accredited to an account of the Fund in the United States Treasury (hereafter in this section referred to as “the account”) established to carry out the purpose of this subchapter.

(b)Upon request of the Administrator, the Secretary of the Treasury shall invest amounts deposited in the account in public debt securities with maturities suitable to the needs of the Fund, as determined by the Administrator, and bearing interest at rates determined by the Secretary of the Treasury, comparable to current market yields on outstanding marketable obligations of the United States of similar maturities.

(c)Amounts deposited into the account and interest earned on such amounts pursuant to this section shall be available to the Fund until expended.

Reference

Citations & Metadata

Citation

12 U.S.C. § 4711

Title 12 — Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60