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22 U.S.C. § 285d — Federal Reserve banks as depositories
submitted 60 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 48 words · no verdicts yet
in plain englishAI-generated · not legal advice
A Federal Reserve bank must serve as the Bank's depository or fiscal agent if asked. The Board of Governors of the Federal Reserve System must supervise this work.
If the Bank asks a Federal Reserve bank to act as its depository or its fiscal agent, that Federal Reserve bank must agree. The Board of Governors of the Federal Reserve System must supervise and direct how Federal Reserve banks carry out this duty. The text does not define "the Bank" in this section.
the actual law source: uscode.house.gov ↗public domain
Any Federal Reserve bank which is requested to do so by the Bank shall act as its depository or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks.
Source credit: (Pub. L. 89–369, § 6, Mar. 16, 1966, 80 Stat. 72.)
history & why it existsrecord from the source credit
- 1966Enacted · Pub. L. 89-369 · 80 Stat. 72
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1966-03-16.
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