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Code · BILL · 119th Congress · H.R. 5356 (Introduced in House) — To facilitate efficient investments and financing of infrastructure projects and new job creation through the establi... · Sec. 215

Sec. 215. Relations with local financial institutions

132 words·~1 min read·/bill/119/hr/5356/ih/section-215·

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Except as provided in subsection (b), the Bank— shall conduct loan activities in partnership with local financial institutions; and shall not compete with local financial institutions. A partnership under paragraph (1)(A) may include the participation of a local financial institution in loan requests, loan monitoring, or blended financing of project loans. The Bank may engage in loan activities without partnering with a local financial institution if those loan activities are not offered or provided by local financial institutions in the jurisdiction in which the loan is being provided.
For local financial institutions that make the Bank a reserve depositary, the Bank may perform the functions and render the services of a clearinghouse, including all facilities for providing domestic and foreign exchange, or rediscounting paper on such terms as the Board shall provide.
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