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U.S. Code as of:
01/19/04
Section 1423. Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names
As soon as practicable the Board shall divide the continental
United States, Puerto Rico, the Virgin Islands, Guam, and the
Territories of Alaska and Hawaii into not less than eight nor more
than twelve districts. Such districts shall be apportioned with due
regard to the convenience and customary course of business of the
institutions eligible to and likely to subscribe for stock of a
Federal Home Loan Bank to be formed under this chapter, but no such
district shall contain a fractional part of any State. The
districts thus created may be readjusted and new districts may from
time to time be created by the Board, not to exceed twelve in all.
Such districts shall be known as Federal Home Loan Bank districts
and may be designated by number. As soon as practicable the Board
shall establish, in each district, a Federal Home Loan Bank at such
city as may be designated by the Board. Its title shall include the
name of the city at which it is established.
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