US Code
SUBCHAPTER IX— POWERS AND DUTIES OF FEDERAL RESERVE BANKS
§ 347c. Advances to individuals, partnerships, and corporations; security; interest rate

Subject to such limitations, restrictions, and regulations as the Board of Governors of the Federal Reserve System may prescribe, any Federal reserve bank may make advances to any individual, partnership, or corporation on the promissory notes of such individual, partnership, or corporation secured by direct obligations of the United States or by any obligation which is a direct obligation of, or fully guaranteed as to principal and interest by any agency of the United States. Such advances shall be made for periods not exceeding 90 days and shall bear interest at rates fixed from time to time by the Federal reserve bank, subject to the review and determination of the Board of Governors of the Federal Reserve System.

Structure US Code

Title 12— BANKS AND BANKING

CHAPTER 3— FEDERAL RESERVE SYSTEM

SUBCHAPTER IX— POWERS AND DUTIES OF FEDERAL RESERVE BANKS

§ 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. , ,

§ 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