<PAGE> 1
Rule 424 (b) (3)
Registration No. 333-53819
CUSIP #: 63743HCD2
PRICING SUPPLEMENT NO. 2205 DATED OCTOBER 23, 1998
TO PROSPECTUS SUPPLEMENTAL DATED JUNE 16, 1998
AND BASE PROSPECTUS DATED JUNE 5, 1998
<TABLE>
<CAPTION>
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
Medium-Term Notes, Series C
With Maturities of Nine Months or More from Date of Issue
Floating Rate Notes
<S> <C>
Principal Amount: $300,000,000.00
Issue Price: 100% of Principal Amount
Original Issue Date: 10/28/98
Maturity Date: 11/23/99
Initial Interest Rate: Determined as described below
Base Rate: LIBOR Telerate
Spread: Plus 1 basis point
Index Maturity: 3 months, except with respect to the
Interest Reset Date on October 28, 1999,
in which case the Index Maturity
will be one month.
Record Dates: On the 13th of each January, April,
July, and October
Interest Payment Dates: On the 28th of January, April, July,
October, and the Maturity Date,
commencing January 28, 1999
Reset Period: Quarterly
Interest Reset Dates: On the 28th of each January, April, July,
and October, commencing October 28, 1998
Redemption Date: None
Agent's Discount or Commission: 0.050%
Agent(s): Lehman Brothers ($150,000,000)
Merrill Lynch & Co. ($150,000,000)
Capacity: Principal
Form of Note: Book-Entry
(Book-Entry or Certificated)
Other Terms: None
</TABLE>
Medium-Term Notes, Series C may be issued by the Company in an aggregate
principal amount of up to $3,050,000,000 and , to date, including this
offering, an aggregate of $329,886,000 Medium-Term Notes, Series A,
$620,114,000, Series B, and $2,462,294,000 Series C have been issued.
