§ 1426a. Exclusion from certain requirements
(a)
In general
The Federal Home Loan Banks shall be exempt from compliance with—
(2)
section
78o of title
15, and related Commission regulations, with respect to transactions in the capital stock of a Federal Home Loan Bank;
(b)
Member exemption
The members of the Federal Home Loan Bank System shall be exempt from compliance with sections
78m
(d),
78m
(f),
78m
(g),
78n
(d), and
78p of title
15, and related Commission regulations, with respect to ownership of or transactions in the capital stock of the Federal Home Loan Banks by such members.
(c)
Exempted and Government securities
(1)
Capital stock
The capital stock issued by each of the Federal Home Loan Banks under section
1426 of this title are—
(B)
exempted securities, within the meaning of section
78c
(a)(12)(A) of title
15, except to the extent provided in section
78oo of title
15.
(2)
Other obligations
The debentures, bonds, and other obligations issued under section
1431 of this title are—
(3)
Brokers and dealers
A person (other than a Federal Home Loan Bank effecting transactions for members of the Federal Home Loan Bank System) that effects transactions in the capital stock or other obligations of a Federal Home Loan Bank, for the account of others or for that person’s own account, as applicable, is a broker or dealer, as those terms are defined in paragraphs (4) and (5), respectively, of section
78c
(a) of title
15, but is excluded from the definition of—
(d)
Exemption from reporting requirements
The Federal Home Loan Banks shall be exempt from periodic reporting requirements under the securities laws pertaining to the disclosure of—
(e)
Tender offers
Commission rules relating to tender offers shall not apply in connection with transactions in the capital stock of the Federal Home Loan Banks.
(f)
Regulations
(1)
In general
The Commission shall promulgate such rules and regulations as may be necessary or appropriate in the public interest or in furtherance of this section and the exemptions provided in this section.
(g)
Definitions
As used in this section—
(1)
the terms “Bank”, “Federal Home Loan Bank”, “member”, and “Federal Home Loan Bank System” have the same meanings as in section
1422 of this title;