US Code

Public Law 119-88 (05/04/2026)

12 U.S.C. § 1767

Fiscal agents and depositories; authorization to secure deposits by governmental bodies

(a)
Each Federal credit union organized under this chapter, when requested by the Secretary of the Treasury, shall act as fiscal agent of the United States and shall perform such services as the Secretary of the Treasury may require in connection with the collection of taxes and other obligations due the United States and the lending, borrowing, and repayment of money by the United States, including the issue, sale, redemption, or repurchase of bonds, notes, Treasury certificates of indebtedness, or other obligations of the United States; and to facilitate such purposes the Board shall furnish to the Secretary of the Treasury from time to time the names and addresses of all Federal credit unions with such other available information concerning them as may be requested by the Secretary of the Treasury. Any Federal credit union organized under this chapter, when designated for that purpose by the Secretary of the Treasury, shall be a depository of public money, except receipts from customs, under such regulations as may be prescribed by the Secretary of the Treasury.
(b)
Any Federal credit union, upon the deposit with it of any funds by the Federal Government, an Indian tribe, or any State or local government or political subdivision thereof as otherwise authorized by this chapter, is authorized to pledge any of its assets securing the payment of the funds so deposited.

June 26, 1934, ch. 750 48 Stat. 1222 61 Stat. 952 June 29, 1948, ch. 711 62 Stat. 1091 Pub. L. 86–354, § 173 Stat. 637 Pub. L. 91–206, § 2(1)84 Stat. 49 Pub. L. 91–468, § 1(2)84 Stat. 994 Pub. L. 95–630, title V, § 502(b)92 Stat. 3681 Pub. L. 100–86, title VII, § 716101 Stat. 656 (, title I, § 121, formerly § 17, ; 1947, Reorg. Plan No. 1, § 401, eff. , 12 F.R. 4534, ; , §§ 1, 2, ; renumbered § 22, , , ; amended , , ; renumbered title I, § 121, , , ; amended , , ; , , .)

Editorial Notes

Amendments

Pub. L. 100–861987— designated existing provisions as subsec. (a) and added subsec. (b).

Pub. L. 95–6301978— substituted “Board” for “Administrator”.

Pub. L. 91–2061970— substituted “Administrator” for “Director”.

Statutory Notes and Related Subsidiaries

Effective Date of 1978 Amendment

Pub. L. 95–630section 509 of Pub. L. 95–630section 1752 of this titleAmendment by effective on expiration of 120 days after , and transitional provisions, see , set out as a note under .

Executive Documents

Transfer of Functions

section 1751 of this titleTransfer of functions of Farm Credit Administration and Governor thereof, generally, see notes set out under .

Functions of Governor of Farm Credit Administration under this section transferred to Federal Deposit Insurance Corporation by Reorg. Plan No. 1 of 1947.