§2159. Purchase and sale of obligations
As of today
View this section as of a date
Notable points in this section's history
Latest NOW As last amended Dec 20, 2018 — Pub. L. 115–33412 U.S.C. § 2159
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.
Notes, amendments, and revision history
(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—Pub. L. 115–334 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 Dec. 31, 1992.
1988—Subsec. (b). Pub. L. 100–233 substituted “December 31, 1992” for “December 31, 1988” in two places.
1986—Pub. L. 99–509 designated existing provisions as subsec. (a) and added subsec. (b).