US Code
SUBCHAPTER IX— POWERS AND DUTIES OF FEDERAL RESERVE BANKS
§ 348a. Transactions with foreign banks; supervision of Board of Governors of the Federal Reserve System

The Board of Governors of the Federal Reserve System shall exercise special supervision over all relationships and transactions of any kind entered into by any Federal reserve bank with any foreign bank or banker, or with any group of foreign banks or bankers, and all such relationships and transactions shall be subject to such regulations, conditions, and limitations as the Board may prescribe. No officer or other representative of any Federal reserve bank shall conduct negotiations of any kind with the officers or representatives of any foreign bank or banker without first obtaining the permission of the Board of Governors of the Federal Reserve System. The Board of Governors of the Federal Reserve System shall have the right, in its discretion, to be represented in any conference or negotiations by such representative or representatives as the Board may designate. A full report of all conferences or negotiations, and all understandings or agreements arrived at or transactions agreed upon, and all other material facts appertaining to such conferences or negotiations, shall be filed with the Board of Governors of the Federal Reserve System in writing by a duly authorized officer of each Federal reserve bank which shall have participated in such conferences or negotiations.

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