§ 615.5010. Funding Corporation.
138 words·~1 min read·
/us/cfr/t12/s§ 615.5010·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The Funding Corporation shall issue, market, and handle the obligations of the banks issued under section 4.2(b) through
(d)of the Act and interbank or intersystem flow of funds as may from time to time be required, and, upon request of the banks, shall handle investment portfolios. The Funding Corporation shall maintain accurate and timely records. The System banks shall provide for the sale of such obligations through the Funding Corporation by negotiation, offer, bid, or syndicate sale, and for the delivery of such obligations by book entry, wire transfer, or such other means as may be appropriate.
(b)The interaction of the System with the financial community shall be conducted principally through the Funding Corporation. The Funding Corporation shall be subject to regulation and examination by the Farm Credit Administration. [54 FR 1158, Jan. 12, 1989]