Title 12, Chapter 3
Banks and Banking — 164 sections
- § 1 Section 1 - Repealed. Pub. L. 89–597 , § 2(d), Sept. 21, 1966 , 80 Stat. 824
- § 2 Section 2 - Interbank liabilities
- § 221 Section 221 - Definitions
- § 221a Section 221a - Additional definitions
- § 222 Section 222 - Federal reserve districts; membership of national banks
- § 223 Section 223 - Number of Federal reserve cities in district
- § 224 Section 224 - Status of reserve cities under former statutes
- § 225 Section 225 - Federal reserve banks; title
- § 225a Section 225a - Maintenance of long run growth of monetary and credit aggregates
- § 225b Section 225b - Appearances before and reports to the Congress
- § 226 Section 226 - “Federal Reserve Act”
- § 227 Section 227 - “Banking Act of 1933”
- § 228 Section 228 - “Banking Act of 1935”
- § 241 Section 241 - Creation; membership; compensation and expenses
- § 242 Section 242 - Ineligibility to hold office in member banks; qualifications and terms of office of members; chairman and vice chairman; oath of office
- § 243 Section 243 - Assessments upon Federal reserve banks to pay expenses
- § 244 Section 244 - Principal offices of Board; chairman of Board; obligations and expenses; qualifications of members; vacancies
- § 245 Section 245 - Vacancies during recess of Senate
- § 246 Section 246 - Powers of Secretary of the Treasury as affected by chapter
- § 247a Section 247a - Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress
- § 247b Section 247b - Appearances before Congress
- § 247 Section 247 - Reports to Congress
- § 248 Section 248 - Enumerated powers
- § 248c Section 248c - Master account and services database
- § 248a Section 248a - Pricing of services
- § 248b Section 248b - Annual independent audits of Federal reserve banks and Board
- § 249 Section 249 - Repealed. Pub. L. 94–412, title V , § 501(c), Sept. 14, 1976 , 90 Stat. 1258
- § 250 Section 250 - Independence of financial regulatory agencies
- § 251 Section 251 - Repealed. Pub. L. 104–208, div. A, title II , § 2224(a), Sept. 30, 1996 , 110 Stat. 3009–415
- § 252 Section 252 - Credit availability assessment
- § 253 Section 253 - Open data publication by the Board of Governors
- § 261 Section 261 - Creation; membership; compensation; meetings; officers; procedure; quorum; vacancies
- § 262 Section 262 - Powers
- § 263 Section 263 - Federal Open Market Committee; creation; membership; regulations governing open-market transactions
- § 264 Section 264 - Transferred
- § 265 Section 265 - Insured banks as depositaries of public money; duties; security; discrimination between banks prohibited; repeal of inconsistent laws
- § 266 Section 266 - State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties
- § 281 Section 281 - Capital
- § 282 Section 282 - Subscription to capital stock by national banking association
- § 283 Section 283 - Public subscription to capital stock
- § 284 Section 284 - Omitted
- § 285 Section 285 - Nonvoting stock
- § 286 Section 286 - Transfers of stock; rules and regulations
- § 287 Section 287 - Value of shares of stock; increase and decrease of stock; member banks as shareholders; surrender of shares
- § 288 Section 288 - Cancellation of stock held by member bank on insolvency or discontinuance of banking operations for sixty days; repayment of cash-paid subscriptions
- § 289 Section 289 - Dividends and surplus funds of reserve banks; transfer for fiscal year 2000
- § 290 Section 290 - Use of earnings transferred to the Treasury
- § 301 Section 301 - Powers and duties of board of directors; suspension of member bank for undue use of bank credit
- § 302 Section 302 - Number of members; classes
- § 303 Section 303 - Qualifications and disabilities
- § 304 Section 304 - Class A and class B directors; selection
- § 305 Section 305 - Class C directors; selection; “Federal reserve agent”
- § 306 Section 306 - Assistants to Federal reserve agent
- § 307 Section 307 - Compensation of directors
- § 308 Section 308 - Terms of directors; vacancies
- § 321 Section 321 - Application for membership
- § 322 Section 322 - Determination on application
- § 323 Section 323 - Stock in Federal reserve banks; method of payment
- § 324 Section 324 - Laws applicable on becoming members
- § 325 Section 325 - Examinations
- § 326 Section 326 - Acceptance of examinations and reports by State authorities; special examinations
- § 327 Section 327 - Surrender of stock and cancellation of memberships
- § 328 Section 328 - Withdrawals from membership
- § 329 Section 329 - Capital stock required as condition precedent to membership
- § 329a Section 329a - Omitted
- § 330 Section 330 - Laws applicable on becoming members; discounts for State banks
- § 331 Section 331 - Certifying checks on State banks admitted as members
- § 332 Section 332 - Depositaries of public money; financial agents; security required
- § 333 Section 333 - Mutual savings banks; application and admission to membership in Federal Reserve System
- § 334 Section 334 - Reports from affiliates; penalty for failure to furnish
- § 335 Section 335 - Dealing in investment securities; limitations and conditions
- § 336 Section 336 - Certificates of stock; representation of stock of other corporations
- § 337 Section 337 - Repealed. Pub. L. 89–485 , § 13(g), July 1, 1966 , 80 Stat. 243
- § 338 Section 338 - Examination of affiliates; forfeiture of membership on refusal of affiliate to give information or pay expense
- § 338a Section 338a - Investments to promote public welfare and community development; limitation on investments
- § 339 Section 339 - Participation by State member banks in lotteries and related activities
- § 339a Section 339a - Resolution of clearing banks
- § 341 Section 341 - General enumeration of powers
- § 342 Section 342 - Deposits; exchange and collection; member and nonmember banks or other depository institutions; charges
- § 343 Section 343 - Discount of obligations arising out of actual commercial transactions
- § 344 Section 344 - Discount or purchase of bills to finance agricultural shipments
- § 345 Section 345 - Rediscount of notes, drafts, and bills for member banks; limitation of amount
- § 346 Section 346 - Discount of acceptances
- § 347 Section 347 - Advances to member banks on their notes
- § 347b 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
- § 347a 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
- § 347c Section 347c - Advances to individuals, partnerships, and corporations; security; interest rate
- § 347d Section 347d - Transactions between Federal Reserve banks and branch or agency of foreign bank; matters considered
- § 348 Section 348 - Discount of obligations given for agricultural purposes or based upon livestock; collateral security for Federal reserve notes
- § 348a Section 348a - Transactions with foreign banks; supervision of Board of Governors of the Federal Reserve System
- § 349 Section 349 - Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031
- § 350 Section 350 - Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations
- § 351 Section 351 - Obligations of cooperative marketing association as issued or drawn for agricultural purposes
- § 352 Section 352 - Limitation on amount of obligations of certain maturities which may be discounted and rediscounted
- § 352a Section 352a - Repealed. Pub. L. 85–699, title VI , § 601, Aug. 21, 1958 , 72 Stat. 697
- § 353 Section 353 - Purchase and sale of cable transfers, acceptances and bills
- § 354 Section 354 - Transactions involving gold coin, bullion, and certificates
- § 355 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
- § 356 Section 356 - Purchase of commercial paper from member banks and sale of same
- § 357 Section 357 - Establishment of rates of discount
- § 358 Section 358 - Establishment of accounts for purposes of open-market operations; correspondents and agencies
- § 359 Section 359 - Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations
- § 359a Section 359a - Omitted
- § 360 Section 360 - Receiving checks and drafts on deposit at par; charges for collections, exchange, and clearances
- § 361 Section 361 - Bills receivable, bills of exchange, acceptances; regulations by Board of Governors
- § 364 Section 364 - Omitted
- § 371 Section 371 - Real estate loans
- § 371a Section 371a - Repealed. Pub. L. 111–203, title VI , § 627(a)(1), July 21, 2010 , 124 Stat. 1640
- § 371d Section 371d - Investment in bank premises or stock of corporation holding premises
- § 371c Section 371c - Banking affiliates
- § 371b Section 371b - Rate of interest on time deposits; payment of time deposits before maturity; waiver of notice requirements for withdrawal of savings deposits
- § 372 Section 372 - Bankers’ acceptances
- § 373 Section 373 - Acceptance of drafts or bills drawn by banks in foreign countries or dependencies of United States for purpose of dollar exchange
- § 374 Section 374 - Acting as agent for nonmember bank in getting discounts from reserve bank
- § 374a Section 374a - Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties
- § 375 Section 375 - [Reserved]
- § 375a Section 375a - Loans to executive officers of banks
- § 375b Section 375b - Extensions of credit to executive officers, directors, and principal shareholders of member banks
- § 376 Section 376 - Rate of interest paid to directors, etc.
- § 377 Section 377 - Repealed. Pub. L. 106–102, title I , § 101(a), Nov. 12, 1999 , 113 Stat. 1341
- § 378 Section 378 - Dealers in securities engaging in banking business; individuals or associations engaging in banking business; examinations and reports; penalties
- § 391 Section 391 - Federal reserve banks as Government depositaries and fiscal agents
- § 391a Section 391a - Reimbursement of Federal Reserve Banks
- § 392 Section 392 - Depositaries of Government funds as confined to banks in Federal reserve system; member banks as depositaries
- § 393 Section 393 - Federal reserve banks as depositaries for Farm Credit System
- § 394 Section 394 - Federal reserve banks as depositaries for and fiscal agents of Home Owners’ Loan Corporation
- § 395 Section 395 - Federal reserve banks as depositaries, custodians and fiscal agents for Commodity Credit Corporation
- § 411 Section 411 - Issuance to reserve banks; nature of obligation; redemption
- § 412 Section 412 - Application for notes; collateral required
- § 413 Section 413 - Distinctive letter and serial number of notes; cancellation of notes unfit for circulation; accounting; apportionment of credit among Federal Reserve banks
- § 414 Section 414 - Authority of Board of Governors respecting issuance of notes; interest; lien
- § 415 Section 415 - Reduction of liability for outstanding notes by depositing notes and collateral and payment of notes of series prior to 1928; reissue of deposited notes
- § 416 Section 416 - Withdrawal of collateral deposited to protect notes and substitution of other collateral; retirement of notes; payment of notes of series prior to 1928; recovery of collateral; reissue of deposited notes
- § 417 Section 417 - Custody and safe-keeping of notes issued to and collateral deposited with Reserve agent
- § 418 Section 418 - Printing of notes; denomination and form
- § 419 Section 419 - Delivery of notes prior to delivery to banks
- § 420 Section 420 - Control and direction of plates and dies; expense of issue and retirement of notes paid by banks
- § 421 Section 421 - Examination of plates and dies
- § 422 Section 422 - Omitted
- § 448 Section 448 - Omitted
- § 461 Section 461 - Reserve requirements
- § 462 Section 462 - Omitted
- § 462a Section 462a - Repealed. Pub. L. 97–258 , § 5(b), Sept. 13, 1982 , 96 Stat. 1068
- § 462c Section 462c - Omitted
- § 463 Section 463 - Limitation on amount of balance with any depository institution without access to Federal Reserve advances
- § 464 Section 464 - Checking against and withdrawal of reserve balance
- § 465 Section 465 - Basis for ascertaining deposits against which required balance is determined
- § 466 Section 466 - Reserves of banks in dependencies or insular possessions
- § 467 Section 467 - Deposits of gold coin, gold certificates, and Special Drawing Right certificates with United States Treasurer
- § 481 Section 481 - Appointment of examiners; examination of member banks, State banks, and trust companies; reports
- § 482 Section 482 - Employees of Office of Comptroller of the Currency; appointment; compensation and benefits
- § 483 Section 483 - Special examination of member banks; information of condition furnished to Board of Governors of the Federal Reserve System
- § 484 Section 484 - Limitation on visitorial powers
- § 485 Section 485 - Examination of Federal reserve banks
- § 486 Section 486 - Waiver of requirements as to reports from or examinations of affiliates
- § 501 Section 501 - Liability of Federal reserve or member bank for certifying check when amount of deposit was inadequate
- § 501a Section 501a - Forfeiture of franchise of national banks for failure to comply with provisions of this chapter
- § 502 Section 502 - Liability of shareholders of Federal reserve banks on contracts, etc.
- § 503 Section 503 - Liability of directors and officers of member banks
- § 504 Section 504 - Civil money penalty
- § 505 Section 505 - Civil money penalty
- § 506 Section 506 - Notice after separation from service
- § 521 Section 521 - Reserve-bank branches; establishment; directors; discontinuance of branches; approval for erection of branch bank building
- § 522 Section 522 - Federal Reserve branch bank buildings