POWERS AND DUTIES OF FEDERAL RESERVE BANKS

  1. Law
  2. USC 12
  3. Banks And Banking
  4. FEDERAL RESERVE SYSTEM
  5. POWERS AND DUTIES OF FEDERAL RESERVE BANKS

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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Repealed. Pub. L. 85–699, title VI, §601, Aug. 21, 1958, 72 Stat. 697

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

Sections
362 to 364

Omitted