(a) Limitations. With the exception of deposits held
by a Federal Reserve Bank, a credit union may invest no more than
50% of its net worth with any single obligor or related obligors.
This limitation also does not apply to the extent that the investment
is insured or guaranteed by the United States government, or an agency,
sponsored enterprise, corporation, or instrumentality of the United
States government, or to any trust or trusts established for investing,
directly or collectively, in such securities, obligations, or instruments.
For the purposes of this section, obligor is defined as an issuer,
trust, or originator of an investment, including the seller of a loan