United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 3. FEDERAL RESERVE SYSTEM |
SubChapter IX. POWERS AND DUTIES OF FEDERAL RESERVE BANKS |
§ 357. Establishment of rates of discount
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Every Federal reserve bank shall have power to establish from time to time, subject to review and determination of the Board of Governors of the Federal Reserve System, rates of discount to be charged by the Federal reserve bank for each class of paper, which shall be fixed with a view of accommodating commerce and business, but each such bank shall establish such rates every fourteen days, or oftener if deemed necessary by the Board.
Codification
Section is comprised of subsec. (d) of section 14 of act
Amendments
1935—Act
Change Of Name
Section 203(a) of act