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Rule 424(b)(3)
Registration No. 33-42646
PRICING SUPPLEMENT NO. 862 DATED April 7, 1994
TO PROSPECTUS SUPPLEMENTAL AND PROSPECTUS
EACH DATED SEPTEMBER 18, 1991
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Principal Amount: $ 520,000.00
Issue Price: 100% of Principal Amount
Original Issue Date: 4/14/94
Maturity Date: 5/15/95
Interest Rate: 4.970% per annum
Record Dates: Each January 1 and July 1
Interest Payment Dates: Each January 15 and July 15
Redeemable Date: None
Agent's Commission: None
Form of Note
(Book-Entry or Certificated): Certificated
Other Terms: None
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Medium-Term Notes, Series B may be issued by the Company in an
aggregate principal amount of up to $620,114,000 and, to date,
including this offering, an aggregate of $329,886,000 Medium-Term
Notes, Series A and $661,197,000 Series B have been issued.
