§ 418. — Printing of notes; denomination and form.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC418]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XII--FEDERAL RESERVE NOTES
Sec. 418. Printing of notes; denomination and form
In order to furnish suitable notes for circulation as Federal
reserve notes, the Secretary of the Treasury shall cause plates and dies
to be engraved in the best manner to guard against counterfeits and
fraudulent alterations, and shall have printed therefrom and numbered
such quantities of such notes of the denominations of $1, $2, $5, $10,
$20, $50, $100, $500, $1,000, $5,000, $10,000 as may be required to
supply the Federal Reserve banks. Such notes shall be in form and tenor
as directed by the Secretary of the Treasury under the provisions of
this chapter and shall bear the distinctive numbers of the several
Federal reserve banks through which they are issued.
(Dec. 23, 1913, ch. 6, Sec. 16 (par.), 38 Stat. 267; Sept. 26, 1918, ch.
177, Sec. 3, 40 Stat. 969; Pub. L. 88-36, title I, Sec. 3, June 4, 1963,
77 Stat. 54; Pub. L. 103-325, title VI, Sec. 602(g)(3), Sept. 23, 1994,
108 Stat. 2293.)
References in Text
This chapter, referred to in text, was in the original ``this Act'',
meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, known as the
Federal Reserve Act. For complete classification of this Act to the
Code, see References in Text note set out under section 226 of this
title and Tables.
Codification
Section is comprised of eighth par. of section 16 of act Dec. 23,
1913. For classification to this title of other pars. of section 16, see
Codification note set out under section 411 of this title.
Amendments
1994--Pub. L. 103-325, which directed substitution in first sentence
of ``the Secretary of the Treasury shall'' for ``the Comptroller of the
Currency shall under the direction of the Secretary of the Treasury,'',
was executed by making the substitution for ``the Comptroller of the
Currency shall, under the direction of the Secretary of the Treasury,''
to reflect the probable intent of Congress.
1963--Pub. L. 83-36 inserted ``$1, $2,'' after ``notes of the
denominations of''.
Section Referred to in Other Sections
This section is referred to in sections 348, 420, 421, 467 of this
title.
