[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC352]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER IX--POWERS AND DUTIES OF FEDERAL RESERVE BANKS
Sec. 352. Limitation on amount of obligations of certain
maturities which may be discounted and rediscounted
The Board of Governors of the Federal Reserve System may, by
regulation, limit to a percentage of the assets of a Federal reserve
bank the amount of notes, drafts, acceptances, or bills having a
maturity in excess of three months, but not exceeding six months,
exclusive of days of grace, which may be discounted by such bank, and
the amount of notes, drafts, bills, or acceptances having a maturity in
excess of six months, but not exceeding nine months, which may be
rediscounted by such bank.
(Dec. 23, 1913, ch. 6, Sec. 13A (par.), formerly Sec. 13a, as added Mar.
4, 1923, ch. 252, title IV, Sec. 404, 42 Stat. 1480; amended Aug. 23,
1935, ch. 614, title II, Sec. 203(a), 49 Stat. 704; renumbered Sec. 13A,
Pub. L. 102-242, title I, Sec. 142(e)(1), Dec. 19, 1991, 105 Stat.
2281.)
