
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC354]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
        SUBCHAPTER IX--POWERS AND DUTIES OF FEDERAL RESERVE BANKS
 
Sec. 354. Transactions involving gold coin, bullion, and 
        certificates
        
    Every Federal reserve bank shall have power to deal in gold coin and 
bullion at home or abroad, to make loans thereon, exchange Federal 
reserve notes for gold, gold coin, or gold certificates, and to contract 
for loans of gold coin or bullion, giving therefor, when necessary, 
acceptable security, including the hypothecation of United States bonds 
or other securities which Federal reserve banks are authorized to hold.

(Dec. 23, 1913, ch. 6, Sec. 14(a), 38 Stat. 264.)

                          Codification

    Section is comprised of subsec. (a) of section 14 of act Dec. 23, 
1913. For classification to this title of remainder of section 14, see 
Codification note set out under section 353 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 263, 412 of this title.
