Skip to content
LexBuild

12 USC § 2159 - Purchase and sale of obligations 

---
identifier: "/us/usc/t12/s2159"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 2159 - Purchase and sale of obligations"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "2159"
section_name: "Purchase and sale of obligations"
chapter_number: 23
chapter_name: "FARM CREDIT SYSTEM"
subchapter_number: "IV"
subchapter_name: "PROVISIONS APPLICABLE TO TWO OR MORE CLASSES OF INSTITUTIONS OF THE SYSTEM"
part_number: "A"
part_name: "Funding"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 92–181, title IV, § 4.8, Dec. 10, 1971, 85 Stat. 612; Pub. L. 99–509, title I, § 1034, Oct. 21, 1986, 100 Stat. 1878; Pub. L. 100–233, title II, § 205(a), Jan. 6, 1988, 101 Stat. 1607; Pub. L. 115–334, title V, § 5411(18), Dec. 20, 2018, 132 Stat. 4680.)"
---

# § 2159. Purchase and sale of obligations

Each bank of the System may purchase its own obligations and the obligations of other banks of the System and may provide for the sale of obligations issued by it, consolidated obligations, or Systemwide obligations through a fiscal agent or agents, by negotiation, offer, bid, syndicate sale, and to deliver such obligations by book entry, wire transfer, or such other means as may be appropriate.

---

**Source Credit**: (Pub. L. 92–181, title IV, § 4.8, Dec. 10, 1971, 85 Stat. 612; Pub. L. 99–509, title I, § 1034, Oct. 21, 1986, 100 Stat. 1878; Pub. L. 100–233, title II, § 205(a), Jan. 6, 1988, 101 Stat. 1607; Pub. L. 115–334, title V, § 5411(18), Dec. 20, 2018, 132 Stat. 4680.)

## Editorial Notes

### Amendments

2018— struck out subsec. (a) designation before “Each bank” and struck out subsec. (b) which described conditions under which each bank of the System could reduce the cost of its borrowings and amortize certain capitalizations through .

1988—Subsec. (b).  substituted “” for “” in two places.

1986— designated existing provisions as subsec. (a) and added subsec. (b).