Chapter 3

Definitions

Additional definitions

Federal reserve districts; membership of national banks

Number of Federal reserve cities in district

Status of reserve cities under former statutes

Federal reserve banks; title

Maintenance of long run growth of monetary and credit aggregates

Appearances before and reports to the Congress

“Federal Reserve Act”

“Banking Act of 1933”

“Banking Act of 1935”

Creation; membership; compensation and expenses

Ineligibility to hold office in member banks; qualifications and terms of office of members; chairman and vice chairman; oath of office

Assessments upon Federal reserve banks to pay expenses

Principal offices of Board; chairman of Board; obligations and expenses; qualifications of members; vacancies

Vacancies during recess of Senate

Powers of Secretary of the Treasury as affected by chapter

Reports to Congress

Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress

Appearances before Congress

Rules and regulations for transfer of funds and charges therefor among banks; clearing houses

Pricing of services

Annual independent audits of Federal reserve banks and Board

Master account and services database

Independence of financial regulatory agencies

Credit availability assessment

Open data publication by the Board of Governors

Creation; membership; compensation; meetings; officers; procedure; quorum; vacancies

Powers

Federal Open Market Committee; creation; membership; regulations governing open-market transactions

State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties

Capital

Subscription to capital stock by national banking association

Public subscription to capital stock

Nonvoting stock

Transfers of stock; rules and regulations

Value of shares of stock; increase and decrease of stock; member banks as shareholders; surrender of shares

Cancellation of stock held by member bank on insolvency or discontinuance of banking operations for sixty days; repayment of cash-paid subscriptions

Dividends and surplus funds of reserve banks; transfer for fiscal year 2000

Use of earnings transferred to the Treasury

Powers and duties of board of directors; suspension of member bank for undue use of bank credit

Number of members; classes

Qualifications and disabilities

Class A and class B directors; selection

Class C directors; selection; “Federal reserve agent”

Assistants to Federal reserve agent

Compensation of directors

Terms of directors; vacancies

Application for membership

Determination on application

Stock in Federal reserve banks; method of payment

Laws applicable on becoming members

Examinations

Acceptance of examinations and reports by State authorities; special examinations

Surrender of stock and cancellation of memberships

Withdrawals from membership

Capital stock required as condition precedent to membership

Laws applicable on becoming members; discounts for State banks

Certifying checks on State banks admitted as members

Depositaries of public money; financial agents; security required

Mutual savings banks; application and admission to membership in Federal Reserve System

Reports from affiliates; penalty for failure to furnish

Dealing in investment securities; limitations and conditions

Certificates of stock; representation of stock of other corporations

Examination of affiliates; forfeiture of membership on refusal of affiliate to give information or pay expense

Investments to promote public welfare and community development; limitation on investments

Participation by State member banks in lotteries and related activities

Resolution of clearing banks

General enumeration of powers

Deposits; exchange and collection; member and nonmember banks or other depository institutions; charges

Discount of obligations arising out of actual commercial transactions

Discount or purchase of bills to finance agricultural shipments

Rediscount of notes, drafts, and bills for member banks; limitation of amount

Discount of acceptances

Advances to member banks on their notes

Advances to member bank groups; inadequate amounts of eligible and acceptable assets; liability of individual banks in group; distribution of loans among banks of group; rate of interest; notes accepted for advances as collateral security for Federal reserve notes; foreign obligations as security for advances

Advances to individual member banks on time or demand notes; maturities; time notes secured by mortgage loans covering one-to-four family residences

Advances to individuals, partnerships, and corporations; security; interest rate

Transactions between Federal Reserve banks and branch or agency of foreign bank; matters considered

Discount of obligations given for agricultural purposes or based upon livestock; collateral security for Federal reserve notes

Transactions with foreign banks; supervision of Board of Governors of the Federal Reserve System

Rediscount for intermediate credit banks of obligations given for agricultural purposes; discount of notes made pursuant to section 1031

Purchase and sale of debentures and like obligations of intermediate credit banks and agricultural credit corporations

Obligations of cooperative marketing association as issued or drawn for agricultural purposes

Limitation on amount of obligations of certain maturities which may be discounted and rediscounted

Purchase and sale of cable transfers, acceptances and bills

Transactions involving gold coin, bullion, and certificates

Purchase and sale of obligations of National, State, and municipal governments; open market operations; purchases and sales from or to United States; maximum aggregate amount of obligations acquired directly from or loaned directly to United States

Purchase of commercial paper from member banks and sale of same

Establishment of rates of discount

Establishment of accounts for purposes of open-market operations; correspondents and agencies

Purchase and sale of acceptances of intermediate credit banks and agricultural credit corporations

Receiving checks and drafts on deposit at par; charges for collections, exchange, and clearances

Bills receivable, bills of exchange, acceptances; regulations by Board of Governors

Real estate loans

Rate of interest on time deposits; payment of time deposits before maturity; waiver of notice requirements for withdrawal of savings deposits

Interbank liabilities

Banking affiliates

Restrictions on transactions with affiliates

Investment in bank premises or stock of corporation holding premises

Bankers’ acceptances

Acceptance of drafts or bills drawn by banks in foreign countries or dependencies of United States for purpose of dollar exchange

Acting as agent for nonmember bank in getting discounts from reserve bank

Acting as agent for nonbanking borrower in making loans on securities to dealers in stocks, bonds, etc.; penalties

Loans to executive officers of banks

Extensions of credit to executive officers, directors, and principal shareholders of member banks

Rate of interest paid to directors, etc.

Dealers in securities engaging in banking business; individuals or associations engaging in banking business; examinations and reports; penalties

Federal reserve banks as Government depositaries and fiscal agents

Reimbursement of Federal Reserve Banks

Depositaries of Government funds as confined to banks in Federal reserve system; member banks as depositaries

Federal reserve banks as depositaries for Farm Credit System

Federal reserve banks as depositaries for and fiscal agents of Home Owners’ Loan Corporation

Federal reserve banks as depositaries, custodians and fiscal agents for Commodity Credit Corporation

Issuance to reserve banks; nature of obligation; redemption

Application for notes; collateral required

Distinctive letter and serial number of notes; cancellation of notes unfit for circulation; accounting; apportionment of credit among Federal Reserve banks

Authority of Board of Governors respecting issuance of notes; interest; lien

Reduction of liability for outstanding notes by depositing notes and collateral and payment of notes of series prior to 1928; reissue of deposited notes

Withdrawal of collateral deposited to protect notes and substitution of other collateral; retirement of notes; payment of notes of series prior to 1928; recovery of collateral; reissue of deposited notes

Custody and safe-keeping of notes issued to and collateral deposited with Reserve agent

Printing of notes; denomination and form

Delivery of notes prior to delivery to banks

Control and direction of plates and dies; expense of issue and retirement of notes paid by banks

Examination of plates and dies

Reserve requirements

Limitation on amount of balance with any depository institution without access to Federal Reserve advances

Checking against and withdrawal of reserve balance

Basis for ascertaining deposits against which required balance is determined

Reserves of banks in dependencies or insular possessions

Deposits of gold coin, gold certificates, and Special Drawing Right certificates with United States Treasurer

Appointment of examiners; examination of member banks, State banks, and trust companies; reports

Employees of Office of Comptroller of the Currency; appointment; compensation and benefits

Special examination of member banks; information of condition furnished to Board of Governors of the Federal Reserve System

Limitation on visitorial powers

Examination of Federal reserve banks

Waiver of requirements as to reports from or examinations of affiliates

Liability of Federal reserve or member bank for certifying check when amount of deposit was inadequate

Forfeiture of franchise of national banks for failure to comply with provisions of this chapter

Liability of shareholders of Federal reserve banks on contracts, etc.

Liability of directors and officers of member banks

Civil money penalty

Civil money penalty

Notice after separation from service

Reserve-bank branches; establishment; directors; discontinuance of branches; approval for erection of branch bank building

Federal Reserve branch bank buildings