12 U.S.C. § 282 — Subscription to capital stock by national banking association

Every national banking association in a Federal Reserve district is required to subscribe to — that is, buy — stock in the Federal Reserve Bank for that district. The amount is set at "six per centum" (6 percent) of the bank's paid-up capital stock and surplus. The payment happens in stages: one-sixth of the total is due when the Board of Governors of the Federal Reserve System calls for it, another one-sixth is due within three months after that, and another one-sixth within six months after that. The remaining part of the subscription — or any portion of it — is due whenever the Board decides it's necessary and calls for it. All these payments must be made "in gold or gold certificates."