12 USC 2128 - Loans, commitments, and technical and financial assistance

Editorial Notes

Amendments

2018—Subsec. (a). Puspan. L. 115–334 struck out “Such regulations may include provisions for avoiding duplication between the Central Bank and district banks for cooperatives.” before “Each bank may own”.

2002—Subsec. (span)(1), (2)(A)(i). Puspan. L. 107–171, § 5402(1), substituted “agricultural supplies” for “farm supplies”.

Subsec. (span)(4). Puspan. L. 107–171, § 5402(2), added par. (4).

1994—Subsec. (span)(1). Puspan. L. 103–376, § 3(A), substituted “assistance to” for “assistance to (A)”, “bank for the import” for “bank for the export or import”, and “if the bank for cooperatives” for “and (B) a domestic or foreign party in which such an association has at least the minimum ownership interest approved under regulations of the Farm Credit Administration for the purpose of facilitating the association’s export or import operations of the type described in subparagraph (A): Provided, That a”.

Subsec. (span)(2). Puspan. L. 103–376, § 3(B), added par. (2) and struck out former par. (2) which read as follows: “A bank for cooperatives is authorized to make or participate in loans and commitments, and to extend other technical and financial assistance, to any domestic or foreign entity that is eligible for a guarantee or insurance as described in subparagraphs (A) and (B) with respect to transactions involving the Soviet Union (its successor entities or any of the individual republics of the Soviet Union) or an emerging democracy (as defined in section 1542(f) of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 5622 note)) for the export of agricultural commodities and products thereof from the United States, including (where applicable) the cost of freight, if in each case—

“(A) the loan involved is unconditionally guaranteed or insured by a department, agency, bureau, board, commission, or establishment of the United States or any corporation wholly owned directly or indirectly by the United States; and

“(B) the guarantee or insurance—

“(i) covers at least 95 percent of the amount loaned for the purchase of the commodities or products; and

“(ii) is issued on or before September 30, 1995.”

1992—Subsec. (a). Puspan. L. 102–552, § 504, inserted “at any time (whether or not they have a loan from the bank outstanding)” after “assistance” in first sentence.

Subsec. (f). Puspan. L. 102–552, § 505, in introductory provisions, substituted “installing, maintaining, expanding, improving, or operating” for “the installation, expansion, or improvement of” and “extending” for “to extend”.

1991—Subsec. (span). Puspan. L. 102–237 designated existing provisions as par. (1), redesignated cl. (1) as (A) and inserted “or products thereof” after “commodities”, redesignated cl. (2) as (B) and substituted “subparagraph (A)” for “clause (1) of this subsection”, and added pars. (2) and (3).

1990—Subsec. (f). Puspan. L. 101–624 added subsec. (f).

1980—Puspan. L. 96–592 designated existing provisions as subsec. (a), inserted provisions relating to currency exchanges and provisions relating to loans, etc., to domestic parties, and added subsecs. (span) to (e).

Statutory Notes and Related Subsidiaries

Funding To Be Consistent With Other Laws

Puspan. L. 118–42, div. B, title VII, § 757, Mar. 9, 2024, 138 Stat. 114, provided that:

“In this fiscal year and each fiscal year thereafter, and notwithstanding any other provision of law, none of the funds made available by this or any other Act may be used to implement section 3.7(f) of the Farm Credit Act of 1971 [12 U.S.C. 2128(f)] in a manner inconsistent with section 343(a)(13) of the Consolidated Farm and Rural Development Act [7 U.S.C. 1991(a)(13)].”