12 U.S.C. § 2278B
Section 2278b · Accounts
Amended 1 time on record
Applied in 1 court decisions — leading case 695 F. Supp. 15 - Colorado Springs Production Credit Ass'n v. Farm Credit Administration (1988)
Most recently applied in 695 F. Supp. 15 - Colorado Springs Production Credit Ass'n v. Farm Credit Administration (July 1988)
(1) Establishment
The Financial Assistance Corporation shall establish an account called the Farm Credit Assistance Fund (referred to in this chapter as the “Assistance Fund”) which shall be available to the Financial Assistance Corporation as a revolving fund to carry out this part. The moneys of such Assistance Fund shall be invested in direct obligations of the United States or obligations guaranteed by the United States or an agency thereof.
(2) Funding
The Assistance Fund shall be funded through the issuance of debt obligations and payments, as provided in section 2278b–6 of this title, and payments, as provided in section 2278b–8 of this title.
The Financial Assistance Corporation shall establish an account called the Financial Assistance Corporation Trust Fund (hereinafter referred to in this chapter as the “Trust Fund”) that shall consist of securities of the United States Treasury purchased by the Financial Assistance Corporation with the funds received from the purchase of stock by System institutions from the Financial Assistance Corporation under section 2278b–9 of this title.