Page:United States Statutes at Large Volume 101 Part 3.djvu/307

 PUBLIC LAW 100-233—JAN. 6, 1988

101 STAT. 1605

ance Corporation to the same extent, according to its value, as other similar property held by other persons is taxed. "(b) OBLIGATIONS.—The notes, bonds, debentures, and other obligations issued by the Financial Assistance Corporation shall be accorded the same tax treatment as System-wide obligations. "SEC. 6.31. TERMINATION. "(a) FINANCIAL ASSISTANCE CORPORATION.—The Financial Assist-

ance Corporation and the authority provided to such Corporation by this subtitle shall terminate on the maturity and full payment of all debt obligations issued under section 6.26(a). "(b) ACCOUNTS.—Simultaneously with the termination of the Financial Assistance Corporation as provided in subsection (a), any funds in the accounts established under section 6.25 shall be transferred to the Insurance Fund established under section 5.60.". SEC. 202. REVOLVING FUND.

Section 4.0 (12 U.S.C. 2151) is amended to read as follows: "SEC. 4.0. REVOLVING FUND. "(a) REVOLVING FUND.—The revolving fund established by this

section (in effect immediately before the date of the enactment of the Agricultural Credit Act of 1987) shall be available to the Farm Credit Administration during the period, and for the purposes provided for, in sections 6.70t)) and 6.13. "(b) FARM CREDIT INSURANCE FUND.—On the date the first premium is due and payable under section 5.56(c), any funds remaining in the revolving fund shall be transferred to the Farm Credit Insurance Fund in accordance with the terms and conditions established by the Farm Credit Administration,". SEC. 203. UNSAFE OR UNSOUND PRACTICES.

Paragraph (4) of section 5.35 (12 U.S.C. 2271(4)) is amended to read as follows: "(4) the term 'unsafe or unsound practice' shall— "(A) have the meaning given to it by the Farm Credit Administration by regulation, rule, or order; and "(B) during the period beginning on the date of the enactment of this paragraph and ending December 31, 1992, mean any noncompliance by a System institution, as determined by the Farm Credit Administration in consultation with the Assistance Board, with any term or condition imposed on the institution by the Assistance Board under section 6,6.". SEC. 204. FEDERAL FARM CREDIT BANKS FUNDING CORPORATION.

(a) IN GENERAL.—Section 4.9 (12 U.S.C. 2160) is amended to read as follows: "SEC. 4 9 FEDERAL FARM CREDIT BANKS FUNDING CORPORATION. ..

"(a) ESTABLISHMENT.—There is hereby established the Federal Farm Credit Banks Funding Corporation (hereinafter in this section referred to as the '(Corporation'), which shall be an institution of the Farm Credit System. "(b) DUTIES.—The Corporation—

"(1) shall issue, market, and handle the obligations of the banks of the Farm Credit System, and interbank or intersystem flow of funds as may from time to time be required;

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