Farm loan bonds issued by federal land banks or joint-stock land banks under an act of Congress approved July 17, 1916, known as the Federal Farm Loan Act, and any notes, bonds, debentures, or other similar obligations, consolidated or otherwise, issued by farm credit institutions pursuant to the Farm Credit Act of 1971 (Public Law 92-181) shall be lawful investments for savings bank deposits, for all fiduciary and trust funds, and for the funds of insurance companies and savings and loan associations. The farm loan bonds shall be accepted as security for all public deposits on the same terms as any bonds for which the faith of the United States is pledged.