§ 349. Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031
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/usc/title-12/section-349A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any Federal reserve bank may, subject to regulations and limitations to be prescribed by the Board of Governors of the Federal Reserve System, rediscount such notes, drafts, and bills mentioned in section 348 of this title for any Federal intermediate credit bank, except that no Federal reserve bank shall rediscount for a Federal intermediate credit bank any such note or obligation which bears the indorsement of a nonmember State bank or trust company which is eligible for membership in the Federal reserve system in accordance with subchapter VIII of this chapter.
Any Federal reserve bank may also, subject to regulations and limitations to be prescribed by the Board of Governors of the Federal Reserve System, discount notes payable to and bearing the indorsement of any Federal intermediate credit bank covering loans or advances made by such bank pursuant to the provisions of section 1031 1 of this title which have maturities at the time of discount of not more than nine months, exclusive of days of grace, and which are secured by notes, drafts, or bills of exchange eligible for rediscount by Federal Reserve banks.
(Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1479; amended May 19, 1932, ch. 191, § 5, 47 Stat. 160; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; renumbered § 13A, Pub. L. 102–242, title I, § 142(e)(1), Dec. 19, 1991, 105 Stat. 2281.)
Connections4 cite this · traces to 2
Cited by 4 sections
15 references not yet in our index
- 1
- Dec. 23, 1913, ch. 6, § 13A
- Mar. 4, 1923, ch. 252
- 42 Stat. 1479
- May 19, 1932, ch. 191, § 5
- 47 Stat. 160
- Aug. 23, 1935, ch. 614
- 49 Stat. 704
- Pub. L. 102–242, title I, § 142(e)(1)
- 105 Stat. 2281
- act Dec. 23, 1913, ch. 6
- 38 Stat. 251
- Section 1031 of this title
- Pub. L. 92–181, title V, § 5
- 85 Stat. 624
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§ 349
Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031
Fed. Reg.×2
C.F.R.×1
Stat. Comp.×1
Cite1
ActDec. 23, 1913, ch. 6, § 13A
ActMar. 4, 1923, ch. 252
Stat.42 Stat. 1479
ActMay 19, 1932, ch. 191, § 5
Cites 17 · showing 7Cited by 4 across 3 sources