Transaction Accounts. A FHLBank commenter suggested that the rule be revised to include authority for the FHLBanks to establish transaction accounts with nonmember mortgagees in order to facilitate the funding of advances. Since the FHLBanks have incidental authority to establish limited purposes deposit accounts, see supra part II(F)(2), the Finance Board has added a new paragraph § 935.24(d) to provide the suggested authorization.
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