Subject to such restrictions, limitations, and regulations as may be imposed by the Board of Governors of the Federal Reserve System, each Federal Reserve bank may receive deposits from, discount paper endorsed by, and make advances to any branch or agency of a foreign bank in the same manner and to the same extent that it may exercise such powers with respect to a member bank if such branch or agency is maintaining reserves with such Reserve bank pursuant to . In exercising any such powers with respect to any such branch or agency, each Federal Reserve bank shall give due regard to account balances being maintained by such branch or agency with such Reserve bank and the proportion of the assets of such branch or agency being held as reserves under . For the purposes of this paragraph, the terms “branch”, “agency”, and “foreign bank” shall have the same meanings assigned to them in .
Structure US Code
CHAPTER 3— FEDERAL RESERVE SYSTEM
SUBCHAPTER IX— POWERS AND DUTIES OF FEDERAL RESERVE BANKS
§ 341. General enumeration of powers
§ 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
§ 347c. Advances to individuals, partnerships, and corporations; security; interest rate
§ 351. Obligations of cooperative marketing association as issued or drawn for agricultural purposes
§ 353. Purchase and sale of cable transfers, acceptances and bills
§ 354. Transactions involving gold coin, bullion, and certificates
§ 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
§ 361. Bills receivable, bills of exchange, acceptances; regulations by Board of Governors