RURAL ELECTRIC COOPERATIVE GRANTOR TRUST SOYLAND 1993 B2
8-K, 1996-09-20
ASSET-BACKED SECURITIES
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<PAGE> 1                           
			   SECURITIES AND EXCHANGE COMMISSION
				Washington, D.C.  20549


				     FORM 8-K


				   CURRENT REPORT


			 Pursuant to Section 13 or 15(d) of the
			     Securities Exchange Act of 1934


		  Date of Report (Date of earliest event reported)
				  September 15, 1996


	    RURAL ELECTRIC COOPERATIVE GRANTOR TRUST (SOYLAND) 1993 B-2
	      (Exact name of registrant as specified in its charter)



       New York                  33-79328                    36-7051620  
(State or other jurisdic-      (Commission File          (IRS Employer
 tion of incorporation)          Number)                 Identification No.)




National Rural Utilities Cooperative
  Finance Corporation
Woodland Park
2201 Cooperative Way, Herndon, VA                               20171-3025
(Address of principal executive offices)                        (ZIP Code)




Registrant's telephone number, including area code:     (703) 709-6700








	  2201 Cooperative Way, Herndon, VA 22071-3025           
   (Former name or former address, if changed since last report) 

<PAGE> 2

Item 5. Other Events

	In accordance with Section 7.1(a) of the Trust Agreement, a semi-
	annual report dated September 15, 1996 was sent to certificateholders.
	A copy of the report appears as an exhibit to this filing.


<PAGE> 3

Item 7. Financial Statement, Pro Forma Financial Information and Exhibits

      (c)     Exhibits

	      The following exhibit is filed herewith:

	      21.1   Semi-annual Report to Certificateholders dated September 
		     15, 1996.

<PAGE> 4

				      SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.


			       NATIONAL RURAL UTILITIES COOPERATIVE
				     FINANCE CORPORATION



				/s/  Steven L. Lilly        
				Steven L. Lilly, Chief Financial Officer
				     
				     
September 15, 1996
	
<PAGE> 5
	
	Exhibit Index


(21.1)  Semi-annual Report to Certificateholders dated September 15, 1996.


<PAGE> 6

To the holders of:

RURAL ELECTRIC COOPERATIVE GRANTOR TRUST (SOYLAND) 1993B-2
CUSIP:  781681 As 0

The following information has been furnished to us, as your Trustee, by 
National Rural Utilities Cooperative Finance Corporation (the "Servicer"),
pursuant to Section 7.1(a) of the Trust Agreement dated October 6, 1994.


		Certificate Payment Date:       September 15, 1996

		Distribution Allocable to
		   Principal:                   $                0.00

		Distribution Allocable to
		   Interest:                    $        1,837,000.00

		Fees Distributed to Servicer    $           17,600.00

		Principal Balance of Certifi-
			cates Outstanding:      $       44,000,000.00


No delinquency in payment under either the Note or the Guarantee has occurred
and no Event of Servicing Termination, or, to the best of the Servicer's 
knowledge, event that with notice or lapse of time or both would become an 
Event of Servicing Termination, has occurred and is continuing.

I, the undersigned, do hereby certify that I am a Responsible Officer of 
National Rural Utilities Cooperative Finance Corporation, and as such officer,
I further certify that to the best of my knowledge and belief, the Semiannual
Report is complete and accurate.

				       NATIONAL RURAL UTILITIES COOPERATIVE
					     FINANCE CORPORATION

						
					/s/  Steven L. Lilly  
					Sr. Vice President &
					    Chief Financial Officer


September 15, 1996







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