12 USC § 2205 - Interest rates

---
identifier: "/us/usc/t12/s2205"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 2205 - Interest rates"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "2205"
section_name: "Interest rates"
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: "D"
part_name: "Activities of Institutions of the System"
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, § 4.17, as added Pub. L. 96–592, title IV, § 403, Dec. 24, 1980, 94 Stat. 3446; amended Pub. L. 99–205, title II, § 205(f)(6), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 99–509, title I, § 1035, Oct. 21, 1986, 100 Stat. 1878; Pub. L. 100–399, title IX, § 901(h), Aug. 17, 1988, 102 Stat. 1007; Pub. L. 115–334, title V, § 5411(24), Dec. 20, 2018, 132 Stat. 4682.)"
---


# § 2205. Interest rates

Interest rates on loans from institutions of the Farm Credit System shall not be subject to any interest rate limitation imposed by any State constitution or statute or other laws. Such limitation is preempted for purposes of this chapter. Interest rates on loans made by agricultural credit corporations organized in conjunction with cooperative associations for the purpose of financing the ordinary crop operations of the members of such associations or other producers and eligible to discount with the Farm Credit Banks shall be exempt from any interest rate limitation imposed by any State constitution or statute or other laws which are hereby preempted for purposes of this chapter.

---

**Source Credit**: (Pub. L. 92–181, title IV, § 4.17, as added Pub. L. 96–592, title IV, § 403, Dec. 24, 1980, 94 Stat. 3446; amended Pub. L. 99–205, title II, § 205(f)(6), Dec. 23, 1985, 99 Stat. 1706; Pub. L. 99–509, title I, § 1035, Oct. 21, 1986, 100 Stat. 1878; Pub. L. 100–399, title IX, § 901(h), Aug. 17, 1988, 102 Stat. 1007; Pub. L. 115–334, title V, § 5411(24), Dec. 20, 2018, 132 Stat. 4682.)

## Editorial Notes

### Amendments

2018— struck out “Federal intermediate credit banks and” before “Farm Credit Banks”.

1988— substituted “and Farm Credit Banks” for “pursuant to ”.

1986— substituted first two sentences for former first sentence which read as follows: “Interest rates on loans from institutions of the Farm Credit System shall be determined with the approval of, as provided in , the Farm Credit Administration as provided in this chapter, notwithstanding any interest rate limitation imposed by any State constitution or statute or other laws which are hereby preempted for purposes of this chapter.”

1985— inserted “, as provided in ,” after “with the approval of” in first sentence.

## Statutory Notes and Related Subsidiaries

### Effective Date of 1988 Amendment

Amendment by  effective immediately after amendment made by , which was effective 6 months after , see , set out as a note under .

### Effective Date of 1985 Amendment

Amendment by  effective thirty days after , see , set out as a note under .