Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 395. Federal reserve banks as depositaries, custodians and fiscal agents for Commodity Credit Corporation
Statutory text
The Federal Reserve banks are authorized to act as depositaries, custodians, and fiscal agents for the Commodity Credit Corporation.
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. 78–241 § 3 · 57 Stat. 566
Enacted · 12 U.S.C. § 395
(July 16, 1943, ch. 241, § 3, 57 Stat. 566.)
Source evidence
Code source credit
(July 16, 1943, ch. 241, § 3, 57 Stat. 566.)Enacted provision · exact public law section
Sec. 3. The Federal Reserve banks are hereby authorized to act as depositaries, custodians, and fiscal agents for the Commodity Credit Corporation.
1 of 1 references resolved to an enrolled provision
Executive Documents
Transfer of Functions
Administration of program of Commodity Credit Corporation transferred to Secretary of Agriculture by Reorg. Plan No. 3 of 1946, § 501, eff. , 11 F.R. 7877, 60 Stat. 1100. See Appendix to Title 5, Government Organization and Employees.
Exceptions From Transfer of Functions
Functions of Corporations of Department of Agriculture, boards of directors and officers of such corporations, Advisory Board of Commodity Credit Corporation, and Farm Credit Administration or any agency, officer or entity of, under, or subject to supervision of Administration were excepted from functions of officers, agencies, and employees transferred to Secretary of Agriculture by Reorg. Plan No. 2 of 1953, § 1, eff. , 18 F.R. 3219, 67 Stat. 633, set out in the Appendix to Title 5, Government Organization and Employees.
Credits
(July 16, 1943, ch. 241, § 3, 57 Stat. 566.)