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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 354 Transactions involving gold coin, bullion, and certificates us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 354 12 U.S.C. § 354 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s354 data/legal/raw/us/code/title-12/usc12.xml 22e0d9fbfe0e1b477fe095e71b8892bde6ed8471bdf6adbc14214a8107ac324d e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa bd5dcd29725ec8e937649831821e014a7c2980b9ecbfb9185383b961c0478c17 2026-07-04 official
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12 U.S.C. § 354 - Transactions involving gold coin, bullion, and certificates

Text

Every Federal reserve bank shall have power to deal in gold coin and bullion at home or abroad, to make loans thereon, exchange Federal reserve notes for gold, gold coin, or gold certificates, and to contract for loans of gold coin or bullion, giving therefor, when necessary, acceptable security, including the hypothecation of United States bonds or other securities which Federal reserve banks are authorized to hold.

(Dec. 23, 1913, ch. 6, § 14(a), 38 Stat. 264.)

Notes

Editorial Notes

Codification Section is comprised of subsec. (a) of section 14 of act Dec. 23, 1913. For classification to this title of remainder of section 14, see Codification note set out under section 353 of this title.