22 U.S.C. § 290o–3 — Federal Reserve Banks as depositories

submitted 30 years ago by Pub. L. 104-208 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 44 words · no verdicts yet

in plain englishAI-generated · not legal advice

Any Federal Reserve Bank that the Bank asks may serve as the Bank's depository or fiscal agent. The Federal Reserve's Board of Governors oversees this work.

If the Bank asks a Federal Reserve Bank to act as its depository (a place to hold its money) or as its fiscal agent (an office that handles its financial transactions), that Federal Reserve Bank may do so. The Board of Governors of the Federal Reserve System must generally supervise how the Federal Reserve Bank carries out these jobs for the Bank.

the actual law source: uscode.house.gov ↗public domain

Any Federal Reserve Bank which is requested to do so by the Bank may act as its depository, or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall exercise general supervision over the carrying out of these functions.

Source credit: (Pub. L. 104–208, div. A, title I, § 101(c) [title VII, § 705], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)

history & why it existsrecord from the source credit

1996Enacted · Pub. L. 104-208 · 110 Stat. 3009

A history note hasn’t been published yet. The record shows enactment by Pub. L. 104-208 on 1996-09-30.

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