94 STAT. 152
PUBLIC LAW 96-221—MAR. 31, 1980 "(C)
UNITED STATES GOVERNMENT SECURITIES.—Invest-
ments in obligations of, or fully guaranteed as to principal and interest by, the United States. "(D) FEDERAL HOME LOAN BANK AND FEDERAL NATIONAL MORTGAGE ASSOCIATION SECURITIES.—Investments in the
stock or bonds of a Federal home loan bank or in the stock of the Federal National Mortgage Association. "(E) FEDERAL HOME LOAN MORTGAGE CORPORATION INSTRU-
12 USC 1454, 1455.
12 USC 1721.
12 USC 1701. 38 USC 1801 note. 38 USC 1801 et seq.
MENTS.—Investments in mortgages, obligations, or other securities which are or ever have been sold by the Federal Home Loan Mortgage Corporation pursuant to section 305 or 306 of the Federal Home Loan Mortgage Corporation Act. "(F) OTHER GOVERNMENT SECURITIES.—Investments in obligations, participations, securities, or other instruments of, or issued by, or fully guaranteed as to principal and interest by, the Federal National Mortgage Association, the Student Loan Marketing Association or the Government National Mortgage Association, or any other agency of the United States and an association may issue and sell securities which are guaranteed pursuant to section 306(g) of the National Housing Act. "(G) BANK DEPOSITS.—Investments in the time deposits, certificates, or accounts of any bank the deposits of which are insured by the Federal Deposit Insurance Corporation. "(H) STATE SECURITIES.—Investments in general obligations of any State or any political subdivision thereof. "(I) PURCHASE OF INSURED LOANS.—Purchase of loans secured by liens on improved real estate which are insured under provisions of the National Housing Act, or insured as provided in the Servicemen's Readjustment Act of 1944 or chapter 37 of title 38, United States Code. "(J)
IMPROVEMENT
AND MANUFACTURED
HOME
LOANS.—Loans made for the repair, equipping, alteration, or improvement of any residential real property, and loans made for the purpose of manufactured home financing. "(K)
12 USC 1715Z-5.
HOME
INSURED LOANS TO FINANCE THE PURCHASE OF FEE
SIMPLE.—Loans as to which the association has the benefit of insurance under section 240 of the National Housing Act, or of a commitment or agreement therefor. "(L) LOANS TO FINANCIAL INSTITUTIONS, BROKERS, AND DEAL-
12 USC 1425a.
ERS.—Loans to financial institutions with respect to which the United States or an agency or instrumentality thereof has any function of examination or supervision, or to any broker or dealer registered with the Securities and Exchange Commission, secured by loans, obligations, or investments in which the association has the statutory authority to invest directly. "(M) LIQUIDITY INVESTMENTS.—Investments which, at the time of making, are assets eligible for inclusion toward the satisfaction of any liquidity requirement imposed by the Board pursuant to section 5A of the Federal Home Loan Bank Act, but only to the extent that the investment is permitted to be so included under regulations of the Board or is otherwise authorized. "(N) INVESTMENT IN THE NATIONAL HOUSING PARTNERSHIP CORPORATION, PARTNERSHIPS, AND JOINT VENTURES.—Invest-
ments in shares of stock issued by a corporation authorized to be created pursuant to title IX of the Housing and Urban
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