1994 US Code
Title 12 - BANKS AND BANKING
CHAPTER 2 - NATIONAL BANKS
SUBCHAPTER IX_2 - SUBCHAPTER IX-POWERS AND DUTIES OF FEDERAL RESERVE BANKS
Sec. 357 - Establishment of rates of discount
View Metadata| Publication Title | United States Code, 1994 Edition, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 2 - NATIONAL BANKS SUBCHAPTER IX_2 - SUBCHAPTER IX-POWERS AND DUTIES OF FEDERAL RESERVE BANKS Sec. 357 - Establishment of rates of discount |
| Contains | section 357 |
| Date | 1994 |
| Laws in Effect as of Date | January 4, 1995 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Dec. 23, 1913, ch. 6, §14(d), 38 Stat. 264; Apr. 13, 1920, ch. 128, 41 Stat. 550; Mar. 4, 1923, ch. 252, title IV, §407, 42 Stat. 1480; Aug. 23, 1935, ch. 614, title II, §§203(a), 206(b), 49 Stat. 704, 706. |
| Statutes at Large References | 38 Stat. 264 41 Stat. 550 42 Stat. 1480 49 Stat. 704 |
§357. Establishment of rates of discount
Every Federal reserve bank shall have power to establish from time to time, subject to review and determination of the Board of Governors of the Federal Reserve System, rates of discount to be charged by the Federal reserve bank for each class of paper, which shall be fixed with a view of accommodating commerce and business, but each such bank shall establish such rates every fourteen days, or oftener if deemed necessary by the Board.
(Dec. 23, 1913, ch. 6, §14(d), 38 Stat. 264; Apr. 13, 1920, ch. 128, 41 Stat. 550; Mar. 4, 1923, ch. 252, title IV, §407, 42 Stat. 1480; Aug. 23, 1935, ch. 614, title II, §§203(a), 206(b), 49 Stat. 704, 706.)
CodificationSection is comprised of subsec. (d) of section 14 of act Dec. 23, 1913. For classification to this title of remainder of section 14, see Codification note under section 353 of this title.
Amendments1935—Act Aug. 23, 1935, §206(b), inserted words at end of section beginning “but each such”.
Change of NameSection 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
Section Referred to in Other SectionsThis section is referred to in sections 263, 343, 412 of this title.
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