
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2278b]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
             SUBCHAPTER VI--ASSISTANCE TO FARM CREDIT SYSTEM
 
                Part B--Financial Assistance Corporation
 
Sec. 2278b. Establishment of Corporation

    Not later than 5 days after January 6, 1988, the Farm Credit 
Administration shall charter the Farm Credit System Financial Assistance 
Corporation (hereinafter referred to in this chapter as the ``Financial 
Assistance Corporation'') which shall be--
        (1) an institution of the Farm Credit System; and
        (2) a Federally chartered instrumentality of the United States.

(Pub. L. 92-181, title VI, Sec. 6.20, as added Pub. L. 100-233, title 
II, Sec. 201, Jan. 6, 1988, 101 Stat. 1595.)


                            Financial Report

    Section 206 of Pub. L. 100-233 provided that: ``During the period 
beginning September 30, 2001, and ending December 31, 2001, the Farm 
Credit Administration shall review and evaluate the financial condition 
of the Farm Credit System and report to the Secretary of the Treasury 
and the appropriate committees of Congress on--
        ``(1) the general financial condition of each System 
    institution;
        ``(2) the total outstanding principal of debt obligations issued 
    under section 6.26 of the Farm Credit Act of 1971 (as added by 
    section 201 of this Act) [12 U.S.C. 2278b-6]; and
        ``(3) the ability of each System institution to retire, at par 
    value, preferred stock issued by the institution in accordance with 
    section 6.27 of the Farm Credit Act of 1971 (as added by section 201 
    of this Act) [12 U.S.C. 2278b-7].''
