965.2—Authorized liabilities.
As a source of funds for business operations, each Bank is authorized to incur liabilities by:
(a)
Accepting proceeds from the issuance of consolidated obligations issued in accordance with part 966 of this chapter ;
(b)
Accepting time or demand deposits from members, other Banks or instrumentalities of the United States, and cash accounts from members or associates pursuant to §§ 969.2, 950.17(b)(2)(i)(B), 950.17(d) or 960.4(a)(1), or other institutions for which the Bank is providing correspondent services pursuant to section 11(e) of the Act (12 U.S.C. 1431(e) );