U.S. Code » Title 12 » Chapter CHAPTER 11— FEDERAL HOME LOAN BANKS

12 U.S.C. § 1435

Obligations as lawful investments; liability of United States for debentures, etc., issued by banks

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Obligations of the Federal Home Loan Banks issued with the approval of the Board or the Director under this chapter shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof. The Federal reserve banks are authorized to act as depositaries, custodians, and/or fiscal agents for Federal Home Loan Banks in the general performance of their powers under this chapter. All obligations of Federal Home Loan Banks shall plainly state that such obligations are not obligations of the United States and are not guaranteed by the United States.

Notes of Decisions
Cited in 7 cases, 1973–2017 · leading case: State Dep't of Assessments & Taxation v. Maryland Nat'l Bank, 531 A.2d 294 (Md. 1987).
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State Dep't of Assessments & Taxation v. Maryland Nat'l Bank, 531 A.2d 294 (Md. 1987). · cites it 2× “§ 3124 (a) because 12 U.S.C. § 1435 provides in part that “[a]ll obligations of Federal Home Loan Banks shall plainly state that such obligations are not obligations of the United States and are not guaranteed by the United States.”
Manchester Band of Pomo Indians, Inc. v. United States, 363 F. Supp. 1238 (N.D. Cal. 1973). “§ 831n-4(d)); (2) obligations issued by the Federal Home Loan Banks ( 12 U.S.C. § 1435 ); (3) bonds, notes or debentures issued by the Commodity Credit Corporation (15 U.”
Cheyenne-Arapaho Tribes of Indians of Oklahoma v. United States, 206 Ct. Cl. 340 (Ct. Cl. 1975). “Obligations of the Federal Home Loan Banks, 12 U.S.C. § 1435 . 7. Debentures of the Federal Intermediate Credit banks, 12 U.”
Roxborough Manayunk Fed. Sav. & Loan Ass'n v. Commonwealth, 687 A.2d 1202 (Pa. Commw. Ct. 1997). · cites it 2× “However, in 12 U.S.C. § 1435 , 12 Congress stated that any FHLB obligations are not backed by the full faith and credit of the United States.”
Untitled Texas Attorney Gen. Opinion, No. KP-0128 (Tex. Att'y Gen. July 2, 2017). “See 12 U.S.C. § 1435 . Despite this language, some in the industry argue that an obligation of an FHLB may be at least implicitly guaranteed as an obligation of the United States.”
Debt Obligations of the Nat'l Credit Union Admin. (OLC 1982). · cites it 2× “” 12 U.S.C. § 1435 . Although in many ways Congress modeled the CLF’s powers and functions after those of the FHLB,13 it omitted from the CLF Act any provision similar to 12 U.”
Transactions Between the Fed. Fin. Bank & the Dep't of the Treasury (OLC 1996). “, 12 U.S.C. §1435 (obligations issued by the Federal Home Loan Banks); 15 U.”
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