ARM 2.59.1601. U.S. TREASURY AND U.S. GOVERNMENT AGENCY ISSUES

(1) There is no dollar limit on a bank's investment in the following U.S. treasury securities: (a) bonds; (b) notes; or (c) bills. (2) There is no dollar limit on a bank's investment in U.S. treasury bonds and notes in the form of separate trading of registered interest and principal of securities (STRIPS) . (3) There is no dollar limit on a bank's investment in the following U.S. government agency ordinary debt issues: (a) farm credit system (FCS) : (i) consolidated FCS bonds; (ii) federal land bank bonds (FLB) ; (iii) federal intermediate credit bank bonds (FICB) ; (iv) banks for cooperatives bonds (BC) ; and (v) federal agricultural mortgage corporation (FAMC) ; (b) farmers home administration (FmHA) ; (c) federal housing administration (FHA) ; (d) federal home loan banks (FHLB) ; (e) federal home loan mortgage corporation (FHLMC) ; (f) federal national mortgage association (FNMA) ; (g) student loan marketing association (SLMA) ; and (h) United States postal service (USPS) . (4) There is no dollar limit on a bank's investment in the following U.S. government agency mortgage-backed securities (MBS) , collateralized mortgage obligations (CMOs) and real estate mortgage investment conduits (REMICs) : (a) instruments issued by the federal home loan mortgage association (FHLMC) ; (b) instruments issued by the federal national mortgage association (FNMA) ; (c) instruments issued by the government national mortgage association (GNMA) ; (d) instruments issued by the federal agricultural mortgage corporation (FAMC) ; (e) FHLMC MBS pass through securities (PCs) ; (f) GNMA I, single issuer pass through PCs; and (g) GNMA II, single and multiple issuer pass through PCs.