12 U.S.C. § 1426a: Exclusion from certain requirements

sections 78m(e), 78n(a), and 78n(c) of title 15, and related Commission regulations; section 78 o of title 15, and related Commission regulations, with respect to transactions in the capital stock of a Federal Home Loan Bank; section 78q–1 of title 15 , and related Commission regulations, with respect to the transfer of the securities of a Federal Home Loan Bank; and the Trust Indenture Act of 1939 [ 15 U.S.C. 77aaa et seq.]. 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. exempted securities, within the meaning of section 77c(a)(2) of title 15 ; and exempted securities, within the meaning of section 78c(a)(12)(A) of title 15 , except to the extent provided in section 78 oo of title 15. exempted securities, within the meaning of section 77c(a)(2) of title 15 ; government securities, within the meaning of section 78c(a)(42) of title 15 ; and government securities, within the meaning of section 80a–2(a)(16) of title 15 . the term “government securities broker” under section 78c(a)(43) of title 15 ; and the term “government securities dealer” under section 78c(a)(44) of title 15 . related party transactions that occur in the ordinary course of the business of the Banks with members; and the unregistered sales of equity securities. Commission rules relating to tender offers shall not apply in connection with transactions in the capital stock of the Federal Home Loan Banks. 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. the accounting treatment with respect to the payment to the Resolution Funding Corporation; the role of the combined financial statements of the Federal Home Loan Banks; the accounting classification of redeemable capital stock; and the accounting treatment related to the joint and several nature of the obligations of the Banks. 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 ; the term “Commission” means the Securities and Exchange Commission; and the term “securities laws” has the same meaning as in section 78c(a)(47) of title 15 .