§ 1435. — Obligations as lawful investments; liability of United States for debentures, etc., issued by banks.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1435]
TITLE 12--BANKS AND BANKING
CHAPTER 11--FEDERAL HOME LOAN BANKS
Sec. 1435. Obligations as lawful investments; liability of
United States for debentures, etc., issued by banks
Obligations of the Federal Home Loan Banks issued with the approval
of the Board under this chapter shall be lawful investments, and may be
accepted as security, for all fiduciary, trust, and public funds the
investment or deposit of which shall be under the authority or control
of the United States or any officer or officers thereof. The Federal
reserve banks are authorized to act as depositaries, custodians, and/or
fiscal agents for Federal Home Loan Banks in the general performance of
their powers under this chapter. All obligations of Federal Home Loan
Banks shall plainly state that such obligations are not obligations of
the United States and are not guaranteed by the United States.
(July 22, 1932, ch. 522, Sec. 15, 47 Stat. 736; Pub. L. 101-73, title
VII, Sec. 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412.)
Amendments
1989--Pub. L. 101-73 substituted ``Board'' for ``board''.
