[USC10] 12 USC 352: Limitation on amount of obligations of certain maturities which may be discounted and rediscounted
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12 USC 352: Limitation on amount of obligations of certain maturities which may be discounted and rediscounted Text contains those laws in effect on July 19, 2018
From Title 12-BANKS AND BANKINGCHAPTER 3-FEDERAL RESERVE SYSTEMSUBCHAPTER IX-POWERS AND DUTIES OF FEDERAL RESERVE BANKS

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

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.

(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 .)

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.

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.