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US CodeTitle 12Chapter 3§ 345

§ 345

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

12 U.S.C. § 345.
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Subchapter: POWERS AND DUTIES OF FEDERAL RESERVE BANKS
The aggregate of notes, drafts, and bills upon which any person, copartnership, association, or corporation is liable as maker, acceptor, indorser, drawer, or guarantor, rediscounted for any member bank, shall at no time exceed the amount for which such person, copartnership, association, or corporation may lawfully become liable to a national banking association under the terms of : , That nothing in this section shall be construed to change the character or class of paper now eligible for rediscount by Federal reserve banks.section 84 of this titleProvided, however

Release: pl-119-59 (2025-12-18)

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