---
kind: "section"
citation: "12 C.F.R. § 1273.3"
title: "12"
number: "1273.3"
heading: "Functions of the OF."
url: "https://uscodex.org/cfr/12/1273.3"
---

# §1273.3. Functions of the OF.

- (a) **Joint debt issuance.** Subject to [part 1270](/cfr/12/part1270.md), subparts [B](/cfr/12/subpartB.md) and [C](/cfr/12/subpartC.md), of this chapter, and this part, the OF, as agent for the Banks, shall offer, issue, and service (including making timely payments on principal and interest due) consolidated obligations.
- (b) **Preparation of combined financial reports.** The OF shall prepare and issue the combined annual and quarterly financial reports for the Bank System in accordance with the requirements of [§ 1273.6(b)](/cfr/12/1273.6.md?p=b) and appendix A of this part, using consistent accounting policies and procedures as provided in [§ 1273.9(b)](/cfr/12/1273.9.md?p=b) of this part.
- (c) **Fiscal agent.** The OF shall function as the fiscal agent of the Banks.
- (d) **Financing Corporation and Resolution Funding Corporation.** The OF shall perform such duties and responsibilities for FICO as may be required under [part 1271](/cfr/12/part1271.md), [subpart D](/cfr/12/subpartD.md), of this chapter, or for REFCORP as may be required under [part 1271](/cfr/12/part1271.md), [subpart E](/cfr/12/subpartE.md), of this chapter or authorized by FHFA pursuant to section 21B(c)(6)(B) of the Bank Act ([12 U.S.C. 1441b(c)(6)(B)](/usc/12/1441b.md?p=c-6-B)).

## Notes

### Amendments

[75 FR 23161, May 3, 2010, as amended at 81 FR 76298, Nov. 2, 2016]

### Authority

Authority: 12 U.S.C. 1431, 1440, 4511(b), 4513, 4514(a), 4526(a).

### Source

Source: 75 FR 23161, May 3, 2010, unless otherwise noted.

### Amendments

[75 FR 23161, May 3, 2010, as amended at 81 FR 76298, Nov. 2, 2016]