<PAGE> 1
Rule 424(b)(3)
Registration No. 33-50463
PRICING SUPPLEMENT NO. 2012 DATED NOVEMBER 14, 1997
TO PROSPECTUS SUPPLEMENTAL DATED NOVEMBER 12, 1997
AND BASE PROSPECTUS DATED NOVEMBER 5, 1997
<TABLE>
<S> <C>
Issuer: National Rural Utilities CFC
Principal Amount: $ 26,000,000.00
Issue Price: 100% of Principal Amount
Original Issue Date: 11/18/97
Maturity Date: 11/19/2001
Interest Rate: 6.240% 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: .45%
Form of Note
(Book-Entry or Certificated): Book Entry
Other Terms: None
</TABLE>
Medium-Term Notes, Series C may be issued by the Company in an
aggregate principal amount of up to $1,550,000,000 and, to date,
including this offering, an aggregate of $329,886,000 Medium-Term
Notes, Series A, $620,114,000, Series B, and $1,254,123,000 Series C
have been issued.
