12 USC 1423 - Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names

U.S Code last checked for updates: May 19, 2024

§ 1423.

Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names

(a)

In general

(b)

Authority to reduce districts

Notwithstanding subsection (a), the number of districts may be reduced to a number less than 8—

(1)

pursuant to a voluntary merger between Banks, as approved pursuant to section 1446(b) of this title; or

(2)

pursuant to a decision by the Director to liquidate a Bank pursuant to section 4617 of this title.

(July 22, 1932, ch. 522, § 3, 47 Stat. 726; July 14, 1952, ch. 723, § 10(c), 66 Stat. 604; Pub. L. 101–73, title VII, § 701(b)(1), (3)(A), Aug. 9, 1989, 103 Stat. 412; Pub. L. 110–289, div. A, title II, §§ 1204(8), 1210, July 30, 2008, 122 Stat. 2786, 2790.)

cite as: 12 USC 1423