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12 U.S.C. § 350 — Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 350 — Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations

Any Federal reserve bank may also buy and sell debentures and other such obligations issued by a Federal intermediate credit bank or by a national agricultural credit corporation, but only to the same extent as and subject to the same limitations as those upon which it may buy and sell bonds issued under title I of the Federal Farm Loan Act.

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Source file: Laws/federal/codes/united-states-code/title-12/section-350-purchase-and-sale-of-debentures-and-like-obligations-of-intermediate-cre--e68a43e9c4.md
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Source location: Title 12, Chapter 3, § 350; chapter-003-federal-reserve-system.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 347 — Advances to member banks on their notes

Any Federal reserve bank may make advances for periods not exceeding fifteen days to its member banks on their promissory notes secured by the deposit or pledge of bonds, notes, certificates of indebtedness, or Treasury bills of the United States, or by the deposit or pledge of debentures or other such obligations of Federal intermediate credit banks which are eligible for purchase by Federal reserve banks under [section 350 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section350&num=0&edition=prelim), or by the deposit or pledge of bonds issued under the provisions of subsection (c) of section 1463 11 See References in Text note below. of this title; and any Federal reserve bank may make advances for periods not exceeding ninety days to its member banks on their promissory notes secured by such notes, drafts, bills of exchange, or bankers’ acceptances as are eligible for rediscount or for purchase by Federal reserve banks under the provisions of this chapter, or secured by such obligations as are eligible for purchase under [section 355 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section355&num=0&edition=prelim). All such advances shall be made at rates to be established by such Federal reserve banks, such rates to be subject to the review and determination of the Board of Governors of the Federal Reserve System. If any member bank to which any such advance has been made shall, during the life or continuance of such advance, and despite an official warning of the reserve bank of the district or of the Board of Governors of the Federal Reserve System to the contrary, increase its outstanding loans secured by collateral in the form of stocks, bonds, debentures, or other such obligations, or lo

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 350 — Purchase and sale of debentures and like

Page 130 TITLE 12—BANKS AND BANKING § 348a 1 See References in Text note below. Editorial Notes REFERENCES IN TEXT Section 16 of this Act, referred to in text, means sec- tion 16 of act Dec. 23, 1913. For classification of section 16 to this title, see Codification note set out under sec- tion 411 of this title. CODIFICATION Section is comprised of first par. of section 13A, for- merly section 13a, as added Mar. 4, 1923. Pars. 2 to 5 of section 13A are set out as sections 349 to 352 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. § 348a. Transactions with foreign banks; super- vision of Board of Governors of the Federal Reserve System The Board of Governors of the Federal Reserve System shall exercise special supervision over all relationships and transactions of any kind entered into by any Federal reserve bank with any foreign bank or banker, or with any group of foreign banks or bankers, and all such rela- tionships and transactions shall be subject to such regulations, conditions, and limitations as the Board may prescribe. No officer or other rep- resentative of any Federal reserve bank shall conduct negotiations of any kind with the offi- cers or representatives of any foreign bank or banker without first obtaining the permission of the Board of Governors of the Federal Reserve System. The Board of Governors of the Federal Reserve System shall have the right, in its dis- cretion, to be represented in any conference or negotiations by such representative or rep- resentatives as the Board may designate. A full report of all conferences or negotiations, and all understanding

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