ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

22 U.S.C. § 286d — Federal Reserve banks as depositories

submitted 81 years ago by ch. 339 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 51 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets the IMF or World Bank ask a Federal Reserve bank to hold their money or act as their financial agent. The Federal Reserve bank must agree if asked. The Federal Reserve's Board of Governors oversees how this work gets done.

If the Fund or the Bank asks a Federal Reserve bank to act as its depository — a place that holds its money — or as its fiscal agent, that Federal Reserve bank must do so. The Board of Governors of the Federal Reserve System supervises and directs how the Federal Reserve banks carry out these duties.
the actual law source: uscode.house.gov ↗public domain

Any Federal Reserve bank which is requested to do so by the Fund or 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: (July 31, 1945, ch. 339, § 6, 59 Stat. 514.)

history & why it existsrecord from the source credit
  • 1945Enacted · Act of July 31, 1945, ch. 339 · 59 Stat. 514

A history note hasn’t been published yet. The record shows enactment by ch. 339 on 1945-07-31.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case