§283ii Securities Issued by the Corporation

Summary

When the Corporation issues or guarantees securities to raise money that are part of its resources under article II, section 2, including any guarantee whether or not limited in scope, and when it guarantees both principal and interest under the commitment in article II, section 2(e), those securities are treated as exempt under 15 U.S.C. 77c(a)(2) and 15 U.S.C. 78c(a)(12). The Corporation must file annual and other reports with the Securities and Exchange Commission that the Commission finds appropriate to protect investors or serve the public interest. The SEC, after consulting with an agency or officer the President picks, can suspend that exemption at any time for any or all of the Corporation’s securities during the suspension. The Commission must include in its annual reports to Congress information it thinks useful about how this rule operates and may include views sent by any registered dealers’ association.