§ 2712. — Federal Deposit Insurance Corporation advances to insured 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: 12USC2712]
TITLE 12--BANKS AND BANKING
CHAPTER 28--EMERGENCY MORTGAGE RELIEF
Sec. 2712. Federal Deposit Insurance Corporation advances to
insured banks
Notwithstanding any other provision of law, the Federal Deposit
Insurance Corporation is authorized, upon such terms and conditions as
the Corporation may prescribe, to make such advances to any insured bank
as the Corporation determines may be necessary or appropriate to
facilitate participation by such bank in the program authorized by this
chapter. For the purpose of obtaining such funds as it determines are
necessary for such advances, the Corporation may borrow from the
Treasury as authorized in section 1824 of this title, and the Secretary
of the Treasury is authorized and directed to make loans to the
Corporation for such purpose in the same manner as loans may be made for
insurance purposes under such section, subject to the maximum limitation
on outstanding aggregate loans there provided.
(Pub. L. 94-50, title I, Sec. 113, July 2, 1975, 89 Stat. 254.)
Section Referred to in Other Sections
This section is referred to in section 2705 of this title.
