The banks established pursuant to the merger of each District Federal Intermediate Credit Bank and Federal Land Bank (hereinafter referred to in this subchapter as “Farm Credit Banks”), as provided in section 410 of the Agricultural Credit Act of 1987, shall be Federally chartered instrumentalities of the United States.

The Farm Credit Administration shall, consistent with this chapter, issue charters for, and approve amendments to charters of, the Farm Credit Banks.

Each Farm Credit Bank may include in its title the name of the city in which it is located or other geographical designation.

Each Farm Credit Bank may establish such branches or other offices as may be appropriate for the effective operation of its business.