Subchapter IX Powers and Duties of Federal Reserve Banks

Sections in Subchapter IX

• § 341 General enumeration of powers
• § 342 Deposits; exchange and collection; member and nonmember banks or other depository institutions; charges
• § 343 Discount of obligations arising out of actual commercial transactions
• § 344 Discount or purchase of bills to finance agricultural shipments
• § 345 Rediscount of notes, drafts, and bills for member banks; limitation of amount
• § 346 Discount of acceptances
• § 347 Advances to member banks on their notes
• § 347a Advances to member bank groups; inadequate amounts of eligible and acceptable assets; liability of individual banks in group; distribution of loans among banks of group; rate of interest; notes accepted for advances as collateral security for Federal reserve notes; foreign obligations as security for advances
• § 347b Advances to individual member banks on time or demand notes; maturities; time notes secured by mortgage loans covering one-to-four family residences
• § 347c Advances to individuals, partnerships, and corporations; security; interest rate
• § 347d Transactions between Federal Reserve banks and branch or agency of foreign bank; matters considered
• § 348 Discount of obligations given for agricultural purposes or based upon livestock; collateral security for Federal reserve notes
• § 348a Transactions with foreign banks; supervision of Board of Governors of the Federal Reserve System
• § 349 Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031
• § 350 Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations
• § 351 Obligations of cooperative marketing association as issued or drawn for agricultural purposes
• § 352 Limitation on amount of obligations of certain maturities which may be discounted and rediscounted
• § 352a Repealed. Pub. L. 85–699, title VI, § 601, Aug. 21, 1958, 72 Stat. 697
• § 353 Purchase and sale of cable transfers, acceptances and bills
• § 354 Transactions involving gold coin, bullion, and certificates
• § 355 Purchase and sale of obligations of National, State, and municipal governments; open market operations; purchases and sales from or to United States; maximum aggregate amount of obligations acquired directly from or loaned directly to United States
• § 356 Purchase of commercial paper from member banks and sale of same
• § 357 Establishment of rates of discount
• § 358 Establishment of accounts for purposes of open-market operations; correspondents and agencies
• § 359 Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations
• § 359a Omitted
• § 360 Receiving checks and drafts on deposit at par; charges for collections, exchange, and clearances
• § 361 Bills receivable, bills of exchange, acceptances; regulations by Board of Governors
• § 362 to 364 Omitted