US Code - Subchapter IX: Powers and duties of federal reserve banks

Search US Code - Subchapter IX: Powers and duties of federal reserve banks

  • Section 341 General enumeration of powers
  • Section 342 Deposits; exchange and collection; member and nonmember banks or other depository institutions; charges
  • Section 343 Discount of obligations arising out of actual commercial transactions
  • Section 344 Discount or purchase of bills to finance agricultural shipments
  • Section 345 Rediscount of notes, drafts, and bills for member banks; limitation of amount
  • Section 346 Discount of acceptances
  • Section 347 Advances to member banks on their notes
  • Section 347A Advances to member bank groups; inadequate amounts of eligible and acceptable assets; liability of individual banks in group; distribution of loans among banks of group; rate of interest; notes accepted for advances as collateral security for Federal reserve notes; foreign obligations as security for advances
  • Section 347B Advances to individual member banks on time or demand notes; maturities; time notes secured by mortgage loans covering one-to-four family residences
  • Section 347C Advances to individuals, partnerships, and corporations; security; interest rate
  • Section 347D Transactions between Federal Reserve banks and branch or agency of foreign bank; matters considered
  • Section 348 Discount of obligations given for agricultural purposes or based upon livestock; collateral security for Federal reserve notes
  • Section 348A Transactions with foreign banks; supervision of Board of Governors of the Federal Reserve System
  • Section 349 Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031
  • Section 350 Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations
  • Section 351 Obligations of cooperative marketing association as issued or drawn for agricultural purposes
  • Section 352 Limitation on amount of obligations of certain maturities which may be discounted and rediscounted
  • Section 352A Repealed.
  • Section 353 Purchase and sale of cable transfers, acceptances and bills
  • Section 354 Transactions involving gold coin, bullion, and certificates
  • Section 355 Purchase and sale of obligations of National, State, and municipal governments; open market operations; purchases and sales from or to United States; maximum aggregate amount of obligations acquired directly from or loaned directly to United States
  • Section 356 Purchase of commercial paper from member banks and sale of same
  • Section 357 Establishment of rates of discount
  • Section 358 Establishment of accounts for purposes of open-market operations; correspondents and agencies
  • Section 359 Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations
  • Section 359A Omitted
  • Section 360 Receiving checks and drafts on deposit at par; charges for collections, exchange, and clearances
  • Section 361 Bills receivable, bills of exchange, acceptances; regulations by Board of Governors
  • Section 362 TO 364 Omitted
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