12 U.S.C. § 352 — Limitation on amount of obligations of certain maturities which may be discounted and rediscounted

FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER IX—POWERS AND DUTIES OF FEDERAL RESERVE BANKS

Limitation on amount of obligations of certain maturities which may be discounted and rediscounted

12 U.S.C. § 352

ChapterSUBCHAPTER IX—POWERS AND DUTIES OF FEDERAL RESERVE BANKS

This text of 12 U.S.C. § 352 (Limitation on amount of obligations of certain maturities which may be discounted and rediscounted) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

12 U.S.C. § 352.

Text

The Board of Governors of the Federal Reserve System may, by regulation, limit to a percentage of the assets of a Federal reserve bank the amount of notes, drafts, acceptances, or bills having a maturity in excess of three months, but not exceeding six months, exclusive of days of grace, which may be discounted by such bank, and the amount of notes, drafts, bills, or acceptances having a maturity in excess of six months, but not exceeding nine months, which may be rediscounted by such bank.

Free access — add to your briefcase to read the full text and ask questions with AI

The Board of Governors of the Federal Reserve System may, by regulation, limit to a percentage of the assets of a Federal reserve bank the amount of notes, drafts, acceptances, or bills having a maturity in excess of three months, but not exceeding six months, exclusive of days of grace, which may be discounted by such bank, and the amount of notes, drafts, bills, or acceptances having a maturity in excess of six months, but not exceeding nine months, which may be rediscounted by such bank.

Source Credit

History

(Dec. 23, 1913, ch. 6, §13A (par.), formerly §13a, as added Mar. 4, 1923, ch. 252, title IV, §404, 42 Stat. 1480; amended Aug. 23, 1935, ch. 614, title II, §203(a), 49 Stat. 704; renumbered §13A, Pub. L. 102–242, title I, §142(e)(1), Dec. 19, 1991, 105 Stat. 2281.)

Editorial Notes

Editorial Notes

Codification
Section is comprised of fifth par. of section 13A, formerly section 13a, as added Mar. 4, 1923. Pars. 1 to 4 of section 13A are set out as sections 348, 349 to 351 of this title, respectively.

Statutory Notes and Related Subsidiaries

Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.

Cite This Page — Counsel Stack

Bluebook (online)

12 U.S.C. § 352, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/352.