Borrowings From, Selling or Transferring to Federal

Agencies. An association may borrow from or sell, exchange, transfer, pledge, hypothecate or otherwise encumber or dispose of any of the notes or obligations held by it, together with the mortgages, trust deeds and other security therefor to a Federal home loan bank or other similar Federal agency to the Reconstruction Finance Corporation, the Federal National Mortgage Association, the Housing and Home Finance Administration, or to any other similar organization, association or Federal agency or administration.