§ 2287. — Initial capital.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC2287]
TITLE 12--BANKS AND BANKING
CHAPTER 24--FEDERAL FINANCING BANK
Sec. 2287. Initial capital
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.
(Pub. L. 93-224, Sec. 8, Dec. 29, 1973, 87 Stat. 939.)
