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12 U.S.C. § 2154 — Repealed. Pub. L. 100–233, title II, § 207(a)(1), Jan. 6, 1988, 101 Stat. 1607

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12 U.S.C. § 2154 — Repealed. Pub. L. 100–233, title II, § 207(a)(1), Jan. 6, 1988, 101 Stat. 1607

### Statutory Notes Section, Pub. L. 92–181, title IV, § 4.1, as added Pub. L. 99–205, title I, § 104, Dec. 23, 1985, 99 Stat. 1687, contained requirements for purchase of stock and payment of assessments and contribution of capital to Capital Corporation. A prior section 2152, Pub. L. 92–181, title IV, § 4.1, Dec. 10, 1971, 85 Stat. 609, related to revolving funds and government deposits, prior to repeal, effective thirty days after Dec. 23, 1985, by Pub. L. 99–205, title I, § 101(2), Dec. 23, 1985, 99 Stat. 1678. #### Effective Date of Repeal Pub. L. 100–233, title II, § 207(b), Jan. 6, 1988, 101 Stat. 1607, provided that: “The repeals made by subsection (a) [repealing this section and sections 2216 to 2216k, and 2252(a)(8) of this title] shall take effect 15 days after the date of the enactment of this Act [Jan. 6, 1988].”

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Source location: Title 12, Chapter 23, § 2154; chapter-023-farm-credit-system.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2157 — Liability of banks; United States not liable

**(a) Joint and several liability of banks** (1) Each bank of the System shall be fully liable on notes, bonds, debentures, or other obligations issued by it individually, and shall be liable for the interest payments on long-term notes, bonds, debentures, or other obligations issued by other banks operating under the same subchapter of this chapter. (2) (A) Each bank shall also be primarily liable for the portion of any issue of consolidated or System-wide obligations made on its behalf and be jointly and severally liable for the payment of any additional sums as called upon by the Farm Credit Administration in order to make payments of interest or principal which any bank primarily liable therefor shall be unable to make. (B) Such calls first shall be made on all nondefaulting banks in proportion to each such bank’s proportionate share of the aggregate available collateral held by all such banks. (C) For purposes of this paragraph, the term “available collateral” means the amount (determined at the close of the last calendar quarter ending before such call) by which a bank’s collateral as described in [section 2154 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2154&num=0&edition=prelim) exceeds the collateral required to support the bank’s outstanding notes, bonds, debentures, and other similar obligations. (D) If the Farm Credit Administration makes any such call and the available collateral of all such banks does not fully satisfy the liability necessitating such calls, such calls shall be made on all nondefaulting banks in proportion to each such bank’s remaining assets. (E) Any System bank that, pursuant to a call by the Farm Credit Administration, makes a payment of principal or interest to the holder

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12 U.S.C. § 901 to 903 — Repealed. Pub. L. 92–181, title V, § 5.26(a), Dec. 10, 1971, 85 Stat. 624

### Statutory Notes Section 841, act July 17, 1916, ch. 245, title I, § 18, 39 Stat. 375; Ex. Ord. No. 6084, Mar. 27, 1933, provided for application for farm loan bonds. See [section 2154 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2154&num=0&edition=prelim). Section 842, act July 17, 1916, ch. 245, title I, § 18, 39 Stat. 375; Ex. Ord. No. 6084, Mar. 27, 1933, provided for investigation and appraisal of securities tendered. See [section 2154 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2154&num=0&edition=prelim). Section 843, act July 17, 1916, ch. 245, title I, § 18, 39 Stat. 375; Ex. Ord. No. 6084, Mar. 27, 1933, provided for transmission of decisions to land bank and registrar. Section 844, act July 17, 1916, ch. 245, title I, § 18, 39 Stat. 375; Ex. Ord. No. 6084, Mar. 27, 1933, required Farm Credit Administration to execute a writing when approving a farm-loan bond issue.

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 2154 — Capital adequacy of banks and institu-

Page 1324 TITLE 12—BANKS AND BANKING § 2154 Subsec. (e). Pub. L. 100–399, § 203(e), substituted ‘‘Sys- tem other than through the’’ for ‘‘System other than through their’’, and substituted ‘‘Federal Farm Credit Banks Funding Corporation’’ for ‘‘fiscal agent’’ in two places. 1985—Pub. L. 99–205 substituted ‘‘regulation by’’ for ‘‘supervision of’’ in provision preceding subsec. (a). Subsec. (b). Pub. L. 99–205 substituted references to section ‘‘2154(c)’’ for ‘‘2154(b)’’ and ‘‘Farm Credit Ad- ministration’’ for ‘‘Governor’’. Subsecs. (c), (d). Pub. L. 99–205 substituted ‘‘Farm Credit Administration’’ for ‘‘Governor’’ wherever ap- pearing. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1988 AMENDMENT Amendment by Pub. L. 100–399 effective as if enacted immediately after enactment of Pub. L. 100–233, which was approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100–399, set out as a note under section 2002 of this title. EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–205 effective thirty days after Dec. 23, 1985, see section 401 of Pub. L. 99–205, set out as a note under section 2001 of this title. § 2154. Capital adequacy of banks and institu- tions (a) Minimum levels of capital The Farm Credit Administration shall cause System institutions to achieve and maintain adequate capital by establishing minimum lev- els of capital for such System institutions and by using such other methods as the Farm Credit Administration deems appropriate. The Farm Credit Administration may establish such min- imum level of capital for a System institution as the Farm Credit Administration, in its dis- cretion, deems to be necessary or appropriate in light of the particular circumstances of the Sys- tem institution. (b) Failure to maintain m

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