Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 352. Limitation on amount of obligations of certain maturities which may be discounted and rediscounted
Statutory 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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 67–6 § 13A · 42 Stat. 4
Enacted · 12 U.S.C. § 352
Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1480
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1480
0 of 1 references resolved to an enrolled provision · 1 partial
Editorial Notes
Codification
Section is comprised of fifth par. of section 13A, formerly section 13a, as added . 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 , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
Credits
1913–1991 · 3 acts
- 1913Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1480
- 1935amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704
- 1991renumbered § 13A, Pub. L. 102–242, title I, § 142(e)(1), , 105 Stat. 2281.
Show as published
(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), , 105 Stat. 2281.)