§ 354. Transactions involving gold coin, bullion, and certificates

Statutory text

Every Federal reserve bank shall have power to deal in gold coin and bullion at home or abroad, to make loans thereon, exchange Federal reserve notes for gold, gold coin, or gold certificates, and to contract for loans of gold coin or bullion, giving therefor, when necessary, acceptable security, including the hypothecation of United States bonds or other securities which Federal reserve banks are authorized to hold.

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.

1913
Pub. L. 63–6 § 14(a) · 38 Stat. 103
Enacted · 12 U.S.C. § 354
(Dec. 23, 1913, ch. 6, § 14(a), 38 Stat. 264.)
Source evidence
Code source credit
(Dec. 23, 1913, ch. 6, § 14(a), 38 Stat. 264.)

0 of 1 references resolved to an enrolled provision · 1 partial

Editorial Notes

Codification

Section is comprised of subsec. (a) of section 14 of act Dec. 23, 1913. For classification to this title of remainder of section 14, see Codification note set out under section 353 of this title.

Credits

(Dec. 23, 1913, ch. 6, § 14(a), 38 Stat. 264.)