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Federal law — U.S. Code and appendices · legal_authorities
The short title of the Act of December 23, 1913, ch. 6, 38 Stat. 251, shall be the “Federal Reserve Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 226
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Stable record: federal_law:legal_authorities:record_usc_e37131e07128136780622d3d
Source file: Laws/federal/codes/united-states-code/title-12/section-226-federal-reserve-act--8ea3d657d7.md
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Passage SHA-256: 8f9c849ae3dfe24d22e6ccd3d37a2fde70b7faad7843589c59588772a040d43f
Source location: Title 12, Chapter 3, § 226; chapter-003-federal-reserve-system.md
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes #### Codification Section, Pub. L. 97–320, title VII, § 701(b), Oct. 15, 1982, 96 Stat. 1538, which related to exemption from State disclosure requirements, was transferred to [section 1098g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1098g&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 20 U.S.C. § 1099
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of applicable definitions, payment of interest, obligations as deposits, and regulations** The Board is authorized for the purposes of this section 11 See References in Text note below. to define the terms used in this section,1 to determine what shall be deemed a payment of interest, to determine what types of obligations, whether issued directly by a member bank or indirectly by an affiliate of a member bank or by other means, and, regardless of the use of the proceeds, shall be deemed a deposit, and to prescribe such regulations as it may deem necessary to effectuate the purposes of this section 1 and to prevent evasions thereof. **(b) Additional definitions; required amounts of reserves maintained against transaction accounts; waiver of ratio limits in extraordinary circumstances; supplemental reserves; reserves related to foreign obligations or assets; exemption for certain deposits; discount and borrowing; transitional adjustments; additional exemptions and waivers; earnings on balances** (1) The following definitions and rules apply to this subsection, subsection (c), and sections 248–1, 248a, 342, 360, and 412 of this title: (A) The term “depository institution” means— (i) any insured bank as defined in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)] or any bank which is eligible to make application to become an insured bank under section 5 of such Act [[12 U.S.C. 1815](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815&num=0&edition=prelim)]; (ii) any mutual savings bank as defined in section 3 of the Federal Deposit Insurance Act or any bank which is eligible to make applicatio
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 461
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** Notwithstanding any other provision of law, the Director shall charter a corporation to be known as the Financing Corporation. **(b) Management of Financing Corporation** (1) **Directorate** — The Financing Corporation shall be under the management of a directorate composed of 3 members as follows: (A) The Director of the Office of Finance of the Federal Home Loan Banks (or the head of any successor to such office). (B) 2 members selected by the Director from among the presidents of the Federal Home Loan Banks. (2) **Terms** — Each member appointed under paragraph (1)(B) shall be appointed for a term of 1 year. (3) **Vacancy** — If any member leaves the office in which such member was serving when appointed to the Directorate— (A) such member’s service on the Directorate shall terminate on the date such member leaves such office; and (B) the successor to the office of such member shall serve the remainder of such member’s term. (4) **Equal representation of banks** — No president of a Federal Home Loan Bank may be appointed to serve an additional term on the Directorate until such time as the presidents of each of the other Federal Home Loan Banks have served as many terms on the Directorate as the president of such bank (before the appointment of such president to such additional term). (5) **Chairperson** — The Director shall select the chairperson of the Directorate from among the 3 members of the Directorate. (6) **Staff** (A) *No paid employees* — The Financing Corporation shall have no paid employees. (B) *Powers* — The Directorate may, with the approval of the Director, authorize the officers, employees, or agents of the Federal Home Loan Banks to act for and on behalf of the Financing Corporation in such manner as m
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1441
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Federal law — U.S. Code and appendices · legal_authorities
Wherever the word “bank” is used in this chapter, the word shall be held to include State bank, banking association, and trust company, except where national banks or Federal reserve banks are specifically referred to. For purposes of this chapter, a State bank includes any bank which is operating under the Code of Law for the District of Columbia.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 221
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Federal law — U.S. Code and appendices · legal_authorities
No Federal Reserve bank may authorize the acquisition or construction of any branch building, or enter into any contract or other obligation for the acquisition or construction of any branch building, without the approval of the Board.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 522
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Annual percentage rates** The Bureau shall collect, publish, and disseminate to the public, on a demonstration basis in a number of standard metropolitan statistical areas to be determined by the Bureau, the annual percentage rates charged for representative types of nonsale credit by creditors in such areas. For the purpose of this section, the Bureau is authorized to require creditors in such areas to furnish information necessary for the Bureau to collect, publish, and disseminate such information. **(b) Credit card price and availability information** (1) **Collection required** — The Bureau shall collect, on a semiannual basis, credit card price and availability information, including the information required to be disclosed under [section 1637(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1637/c&num=0&edition=prelim), from a broad sample of financial institutions which offer credit card services. (2) **Sample requirements** — The broad sample of financial institutions required under paragraph (1) shall include— (A) the 25 largest issuers of credit cards; and (B) not less than 125 additional financial institutions selected by the Bureau in a manner that ensures— (i) an equitable geographical distribution within the sample; and (ii) the representation of a wide spectrum of institutions within the sample. (3) **Report of information from sample** — Each financial institution in the broad sample established pursuant to paragraph (2) shall report the information to the Bureau in accordance with such regulations or orders as the Bureau may prescribe. (4) **Public availability of collected information; report to Congress** — The Bureau shall— (A) make the information collected pursuant to this
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1646
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Federal law — U.S. Code and appendices · legal_authorities
Any Federal Reserve bank may make application to the local Federal Reserve agent for such amount of the Federal Reserve notes hereinbefore provided for as it may require. Such application shall be accompanied with a tender to the local Federal Reserve agent of collateral in amount equal to the sum of the Federal Reserve notes thus applied for and issued pursuant to such application. The collateral security thus offered shall be notes, drafts, bills of exchange, or acceptances acquired under section 92, 342 to 348, 349 to 352, 361, 372, or 373 of this title, or bills of exchange endorsed by a member bank of any Federal Reserve district and purchased under the provisions of sections 348a and 353 to 359 of this title, or bankers’ acceptances purchased under the provisions of said sections 348a and 353 to 359 of this title, or gold certificates, or Special Drawing Right certificates, or any obligations which are direct obligations of, or are fully guaranteed as to principal and interest by, the United States or any agency thereof, or assets that Federal Reserve banks may purchase or hold under sections 348a and 353 to 359 of this title or any other asset of a Federal Reserve bank. In no event shall such collateral security be less than the amount of Federal Reserve notes applied for. The Federal Reserve agent shall each day notify the Board of Governors of the Federal Reserve System of all issues and withdrawals of Federal Reserve notes to and by the Federal Reserve bank to which he is accredited. The said Board of Governors of the Federal Reserve System may at any time call upon a Federal Reserve bank for additional security to protect the Federal Reserve notes issued to it. Collateral shall not be required for Federal Reserve notes which are held in the vaults of, or are
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 412
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** (1) The Secretary shall provide monthly to each agency that authorizes the issuance of Treasury checks a list of those checks issued for such agency on or after such effective date that have not been paid and have become more than 12 months old during the preceding month, beginning with the fourteenth month following the effective date of this section. (2) Such checks shall be canceled by the Secretary and the proceeds thereof shall be returned to the agency concerned and credited to the appropriation or fund account initially charged for the payment. **(b) Checks Issued Before Effective Date.—** (1) Not later than 18 months after the effective date of this section, the Secretary shall identify and cancel all Treasury checks issued before such effective date that have not been paid in accordance with [section 3328 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section3328&num=0&edition=prelim). (2) The proceeds from checks canceled pursuant to paragraph (1) shall be applied to eliminate the balances in accounts that represent uncollectible accounts receivable and other costs associated with the payment of checks and check claims by the Department of the Treasury on behalf of all payment certifying agencies. Any remaining proceeds shall be deposited to the miscellaneous receipts of the Treasury. **(c) No Effect on Underlying Obligation.—** Nothing in this section shall be construed to affect the underlying obligation of the United States, or any agency thereof, for which a Treasury check was issued.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 3334
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Cash discounts** With respect to credit 11 So in original. Probably should be preceded by “a”. card which may be used for extensions of credit in sales transactions in which the seller is a person other than the card issuer, the card issuer may not, by contract or otherwise, prohibit any such seller from offering a discount to a cardholder to induce the cardholder to pay by cash, check, or similar means rather than use a credit card. **(b) Finance charge** With respect to any sales transaction, any discount from the regular price offered by the seller for the purpose of inducing payment by cash, checks, or other means not involving the use of an open-end credit plan or a credit card shall not constitute a finance charge as determined under [section 1605 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1605&num=0&edition=prelim) if such discount is offered to all prospective buyers and its availability is disclosed clearly and conspicuously.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1666f
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Federal law — U.S. Code and appendices · legal_authorities
The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 225a
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