Pub. L. 84-809, tit. II, sec. 201

Sec. 201. (a) The Government Corporation Control Act, as amended, is amended (1) by striking from section 101 the words “Federal Intermediate Credit Banks; Production Credit Corporations;”; (2) by inserting in section 201 immediately following “(3)” the words “Federal Intermediate Credit Banks, (4)”; (3) by changing “(4)” in section 201 to “(5)”; and (4) by striking from sections 302 and 303 the words “production credit corporations,”. (b) After the effective date of this subsection, the Federal intermediate credit banks may utilize their funds for administrative expenses without regard to the limitations contained in any other Act of Congress governing the expenditure of appropriated funds. (c) Paragraph Seventh of section 5136 of the Revised Statutes as amended, is amended (1) by inserting in next to the last sentence immediately before the words “Federal Home Loan Banks”, the words “thirteen banks for cooperatives or any of them or the”; and (2) by changing the last sentence to read as follows: “The limitations and restrictions herein contained as to dealing in and underwriting investment securities shall not apply to obligations issued by the International Bank for Reconstruction and Development which are at the time eligible for purchase by a national bank for its own account: Provided, That no association shall hold obligations issued by said bank as a result of underwriting, dealing, or purchasing for its own account (and for this purpose obligations as to which it is under commitment shall be deemed to be held by it) in a total amount exceeding at any one time 10 per centum of its capital stock actually paid in and unimpaired and 10 per centum of its unimpaired surplus fund. ”