Sec. 32202. Elimination of surplus funds of Federal reserve banks
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/bill/114/hr/22/eah/section-32202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7 of the Federal Reserve Act ( 12 U.S.C. 289 et seq. ) is amended— in subsection (a)— in the heading of such subsection, by striking ; and and Surplus Funds in paragraph (2), by striking deposited in the surplus fund of the bank and inserting transferred to the Board of Governors of the Federal Reserve System for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury ; and by striking the first subsection
(b)(relating to a transfer for fiscal year 2000). The Federal reserve banks shall transfer all of the funds of the surplus funds of such banks to the Board of Governors of the Federal Reserve System for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury.
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Sec. 32202
Elimination of surplus funds of Federal reserve banks
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