12 USC § 350 - Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations

---
identifier: "/us/usc/t12/s350"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 350 - Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "350"
section_name: "Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "IX"
subchapter_name: "POWERS AND DUTIES OF FEDERAL RESERVE BANKS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1480; renumbered § 13A, Pub. L. 102–242, title I, § 142(e)(1), Dec. 19, 1991, 105 Stat. 2281.)"
---


# § 350. Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations

Any Federal reserve bank may also buy and sell debentures and other such obligations issued by a Federal intermediate credit bank or by a national agricultural credit corporation, but only to the same extent as and subject to the same limitations as those upon which it may buy and sell bonds issued under title I of the Federal Farm Loan Act.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1480; renumbered § 13A, Pub. L. 102–242, title I, § 142(e)(1), Dec. 19, 1991, 105 Stat. 2281.)

## Editorial Notes

### References in Text

Title I of the Federal Farm Loan Act, referred to in text, is title I of , . Title I was classified to chapter 7 (§ 641 et seq.) of this title, and was repealed by .26(a), , .

### Codification

Section is comprised of third par. of section 13A, formerly section 13a, as added . Pars. 1, 2, 4 and 5 of section 13A are set out as sections 348, 349, 351 and 352 of this title, respectively.

## Statutory Notes and Related Subsidiaries

### National Agricultural Credit Corporation

Title II of the Agricultural Credits Act, act , title II, §§ 201–217, , authorized creation of national agricultural credit corporations, prior to repeal by , , § 24, . Prior to such repeal, act , § 77, , had prohibited the creation, after , of national agricultural credit corporations authorized to be formed under the Agricultural Credits Act.