---
kind: "section"
citation: "12 U.S.C. § 2285"
title: "12"
title_heading: "Banks and Banking"
number: "2285"
heading: "Functions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/2285"
units:
  - "Chapter 24 — Federal Financing Bank"
---

# §2285. Functions

- (a) **Purchase and sale of obligations issued, sold, or guaranteed by Federal agencies—** The [Bank](/usc/12/2282.md?p=4) is authorized to make commitments to purchase and sell, and to purchase and sell on terms and conditions determined by the [Bank](/usc/12/2282.md?p=4), any [obligation](/usc/12/2282.md?p=2) which is issued, sold, or guaranteed by a [Federal agency](/usc/12/2282.md?p=1). Any [Federal agency](/usc/12/2282.md?p=1) which is authorized to issue, sell, or [guarantee](/usc/12/2282.md?p=3) any [obligation](/usc/12/2282.md?p=2) is authorized to issue or sell such [obligations](/usc/12/2282.md?p=2) directly to the [Bank](/usc/12/2282.md?p=4).
- (b) **Yield—** Any purchase by the [Bank](/usc/12/2282.md?p=4) shall be upon such terms and conditions as to yield a return at a rate not less than a rate determined by the [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury taking into consideration (1) the current average yield on outstanding marketable [obligations](/usc/12/2282.md?p=2) of the United States of comparable maturity, or (2) whenever the [Bank](/usc/12/2282.md?p=4)’s own [obligations](/usc/12/2282.md?p=2) outstanding are sufficient, the current average yield on outstanding [obligations](/usc/12/2282.md?p=2) of the [Bank](/usc/12/2282.md?p=4) of comparable maturity.
- (c) **Fees—** The [Bank](/usc/12/2282.md?p=4) is authorized to charge fees for its commitments and other services adequate to cover all expenses and to provide for the accumulation of reasonable contingency reserves.

## Source credit

(Pub. L. 93–224, § 6, Dec. 29, 1973, 87 Stat. 938.)