---
kind: "section"
citation: "12 U.S.C. § 2158"
title: "12"
title_heading: "Banks and Banking"
number: "2158"
heading: "Purchase and sale by Federal Reserve System"
release: "119-102"
url: "https://uscodex.org/usc/12/2158"
units:
  - "Chapter 23 — Farm Credit System"
  - "Subchapter IV — Provisions Applicable to Two or More Classes of Institutions of the System"
  - "Part A — Funding"
---

# §2158. Purchase and sale by Federal Reserve System


Any [member](/usc/12/1426a.md?p=g-1) of the Federal Reserve System may buy and sell bonds, debentures, or other similar obligations issued under the authority of this chapter and any Federal [Reserve bank](/usc/12/221a.md?p=a) may buy and sell such obligations to the same extent and subject to the same limitations placed upon the purchase and sale by said [banks](/usc/12/221a.md?p=a) of [State](/usc/12/1707.md?p=d), county, [district](/usc/12/221a.md?p=a), and municipal bonds under [section 355 of this title](/usc/12/355.md).


## Source credit

(Pub. L. 92–181, title IV, § 4.7, Dec. 10, 1971, 85 Stat. 612.)