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Federal Reserve Act

Dispersed throughout 12 USC; ch. 6, 38 Stat. 251 (December 23, 1913)
  • Section
  • 1
    Short title and definitions 
  • 2
    Federal Reserve districts
  • 2A
    Monetary policy objectives
  • 2B
    Appearances before and reports to the Congress
  • 3
    Branch offices
  • 4
    Federal Reserve Banks
  • 5
    Stock issues; increase and decrease of capital
  • 6
    Insolvency of member banks
  • 7
    Division of earnings
  • 8
    Conversion of state banks into national banks
  • 9
    State banks as members
  • 9A
    Participation in lotteries prohibited 
  • 9B
    Resolution of clearing banks
  • 10
    Board of Governors of the Federal Reserve System
  • 10A
    Emergency advances to groups of member banks
  • 10B
    Advances to individual member banks
  • 11
    Powers of Board of Governors of the Federal Reserve System
  • 11A
    Pricing of services
  • 11B
    Annual independent audits of Federal Reserve Banks and Board
  • 11C
    Master account and services database
  • 12
    Federal Advisory Council
  • 12A
    Federal Open Market Committee
  • 13
    Powers of Federal Reserve Banks
  • 13A
    Discount of agricultural paper
  • 14
    Open-market operations
  • 15
    Government deposits 
  • 16
    Note issues
  • 17
    Deposit of bonds by national banks
  • 18
    Refunding bonds
  • 19
    Bank reserves
  • 20
    National bank notes redemption fund as reserve
  • 21
    Bank examinations
  • 22
    Offenses of examiners, member banks, officers, and directors
  • 23
    Interbank liabilities
  • 23A
    Relations with affiliates
  • 23B
    Restrictions on transactions with affiliates
  • 24
    Real estate loans 
  • 24A
    Investment in bank premises or stock of corporation holding premises 
  • 25
    Foreign branches 
  • 25A
    Banking corporations authorized to do foreign banking business
  • 25B
    Jurisdiction of suits 
  • 25C
    Potential liability on foreign accounts
  • 26
    [Repealed]
  • 27
    Tax on national bank notes
  • 28
    Reduction of capital of national banks
  • 29
    Civil money penalty
  • 30
    Saving clause 
  • 31
    Reservation of right to amend

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