L. 10173, 962(e)(1), (2)(A)(C), redesignated subsec. [ 2] Section 19 also provides that balances maintained by or Start Printed . Rep. Earl Blumenauer (D-OR), who is a lead sponsor of the House version of the SAFE Banking Act, said at a recent press briefing that thinks its important that advocates and lawmakers align on any incremental proposals to end the drug war,warning against an all-or-nothing mentality. (4) as (3). Pub. Annual Independent Audits of Federal Reserve Banks and Board, Section 12A. The term board shall be held to mean Board of Governors of the Federal Reserve System; the term district shall be held to mean Federal reserve district; the term reserve bank shall be held to mean Federal reserve bank; the term the continental United States means the States of the United States and the District of Columbia. * Discount of agricultural paper, Section 17. Bipartisan Pennsylvania Senators Team Up On New Marijuana Legalization Bill, Maryland Police Wont Be Able To Use Marijuana Odor As Basis For Searches Under Bill That Governor Has Allowed To Become Law, Nevada Law Enforcement Officials Seek To Loosen Marijuana Rules For Police Applicants. [12 USC 371b-2(d). A Democratic senator, key federal officials and consumer advocacy groups are raising concerns about a specific provision of a bipartisan marijuana banking bill that they say could inadvertently limit the ability of regulators to take action against people exploiting banking services. Exemptions. Former par. Prior to amendment, par. (k). L. 95-369, 3(h), Sept. 17, 1978, 92 Stat. (1) and (6), is classified to section 1813 of Title 12, Banks and Banking. Pub. 2145, 215(b); amended Pub. (A) the efforts, activities, objectives and plans of the Board and the Federal Open . Potential Liability on Foreign Accounts, Section 28. The provision could hinder efforts by bank regulators to address payment fraud and the use of bank accounts by fraudsters to receive money stolen in hacks and scams., In order to stem this tide of payment fraud and to prevent fraudsters from opening and using bank accounts to receive stolen funds, it is critical that bank regulators ensure that financial institutions comply with their know-your-customer and anti-money laundering requirements and require institutions to take swift action if a customer is using an account for unlawful purposes. 225b. The terms national bank and national banking association used in this chapter shall be held to be synonymous and interchangeable. 1989Pub. In General. ], [12 USC 371b-2(c). The notice shall contain a statement of the facts constituting the alleged unlawful or unsound exercise of powers, or failure to exercise powers, or failure to comply, and shall fix a time and place at which a hearing will be held to determine whether an order revoking authority to exercise such powers should issue against the association. Federal Reserve Act. (1). The term member bank shall be held to mean any national bank, State bank, or bank or trust company which has become a member of one of the Federal reserve banks. Infrastructures, Payments System Policy Advisory Committee, Finance and Economics Discussion Series (FEDS), International Finance Discussion Papers (IFDP), Estimated Dynamic Optimization (EDO) Model, Aggregate Reserves of Depository Institutions and the
Upon receipt of such resolution, the Comptroller of the Currency, after satisfying himself that such bank has been relieved in accordance with State law of all duties as trustee, executory,[2] administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, or other fiduciary, under court, private, or other appointments previously accepted under authority of this section, may, in his discretion, issue to such bank a certificate certifying that such bank is no longer authorized to exercise the powers granted by this section. (1) an insured depository institution (as defined in section 3(c)(2) of the Federal Deposit Insurance Act); (2) a credit union with accounts insured by the National Credit Union Share Insurance Fund; (3) a Federal home loan bank or a member, as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. (6) as (5). The Comptroller of the Currency shall be authorized and empowered to grant by special permit to national banks applying therefor, when not in contravention of State or local law, the right to act as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, or in any other fiduciary capacity in which State banks, trust companies, or other corporations which come into competition with national banks are permitted to act under the laws of the State in which the national bank is located. (5). the reports prepared by the Comptroller General under, the annual financial statements prepared by an independent auditor for the Board in accordance with, the reports to the Committee on Banking, Housing, and Urban Affairs of the Senate required under. L. 96221 added subsec. before the Committee on Banking and Financial Services of the House of Representatives on or about February 20 of even numbered calendar years and on or about July 20 of odd numbered calendar years; before the Committee on Banking, Housing, and Urban Affairs of the Senate on or about July 20 of even numbered calendar years and on or about February 20 of odd numbered calendar years; and. 662); (6) a depository institution holding company (as defined in section 3(w)(1) of the Federal Deposit Insurance Act; (7) a Federal Reserve bank or a member bank of the Federal Reserve System; (8) an organization operating under section 25 or section 25(a)1 of the Federal Reserve Act; (9) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978); or. (8), is classified to subchapter I (601 et seq.) Section 1(b) of the International Banking Act of 1978, referred to in par. (3). L. 10173, 962(e)(2)(F), (H), redesignated par. The Board may issue such regulations and orders, including definitions consistent with this section, as may be necessary to administer and carry out the purpose of this section. Prior to amendment, par. (9), is classified to section 3101 of Title 12, Banks and Banking. 1422), of the Federal home loan bank system; (4) a System institution of the Farm Credit System, as defined in section 5.35(3) of the Farm Credit Act of 1971; (5) a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. Collapse to view only 226. Note Issues. Such districts may be readjusted and new districts may from time to time be created by the Board of Governors of the Federal Reserve System, not to exceed twelve in all: Provided, That the districts shall be apportioned with due regard to the convenience and customary course of business and shall not necessarily be coterminous with any State or States. Emergency advances to groups of member banks*, Section 10B. of chapter 6 of Title 12, Banks and Banking. before either Committee referred to in subparagraph (A) or (B), upon request, following the scheduled appearance of the Chairman before the other Committee under subparagraph (A) or (B). Funds deposited or held in trust by the bank awaiting investment shall be carried in a separate account and shall not be used by the bank in the conduct of its business unless it shall first set aside in the trust department United States bonds or other securities approved by the Comptroller of the Currency. 1Be it enacted by the Senate and House of Representa- 2tives of the United States of America in Congress assembled, 3SECTION 1. 1986Pub. 610, provided that: "As part of its annual report pursuant to section 10 of the Federal Reserve Act [this section], the Board shall include its assessment of the effects of the amendments made by this Act [see Short Title note set out under section 3101 of this title] on the capitalization and . (6) redesignated (5). Former par. Par. Pub. The Comptroller of the Currency is authorized and empowered to promulgate such regulations as he may deem necessary to enforce compliance with the provisions of this section and the proper exercise of the powers granted therein. Appearances Before and Reports to the Congress (a) Appearances Before The Congress. Accordingly, if the Committee takes action on S. 1323, we urge you to remove Section 10 or to limit it to cannabis businesses that are engaged in lawful activity., Statement: Statement for the record for hearing on Examining Cannabis Banking Challenges of Small Businesses and Workers https://t.co/1vuluVrEBQ, At the cannabis hearing in the Banking Committee, Cat Packer of the Cannabis Regulators of Color Coalition (CRCC) similarly told Reed that this bill is supposed to be about cannabis banking, and for that reason, I think if theres an intent to use the bill to do something else, then maybe its appropriate for another bill.. Review of Monetary Policy Strategy, Tools, and
Commercial Banks, Senior Loan Officer Opinion Survey on Bank Lending
His work has also appeared in High Times, VICE and attn. Attribution Rule. (b) Aggregate Limits On Insured Depository Institutions . (a). Sen. Jack Reed (D-RI) first flagged his issues with Section 10 of the Secure [] National banks exercising any or all of the powers enumerating[1] in this section shall segregate all assets held in any fiduciary capacity from the general assets of the bank and shall keep a separate set of books and records showing in proper detail all transactions engaged in under authority of this section. of chapter 6 of Title 12, was renumbered section 25A of that act by Pub. Stock Issues; Increase and Decrease of Capital, Section 8. Pub. Barr started by saying that its important that Congress is taking on this issue of the potential conflict between state and federal law concerning cannabis financial services. 6, 38 Stat. Section 3 of the Federal Deposit Insurance Act, referred to in pars. system. CITE AS: 12 USC 225a. (8), is classified to subchapter I (601 et seq.) Pub. For example, one coalition of groups sent a letter to committee leadership on Thursday calling for an expansion of the bills financial protectionsto permit cannabis industry access to major U.S. stock exchangesa request thats faced some criticism from other advocates who say that would be an inappropriate move to help businesses while efforts to legalize marijuana stall in Congress. The short title of the Act of December 23, 1913, ch. Practices, Structure and Share Data for the U.S. Offices of Foreign
. Sen. Jack Reed (D-RI) first flagged his issues with Section 10 of the Secure and Fair Enforcement (SAFE) Banking Act during a Senate Banking Committee hearing focused on the legislation earlier this month. L. 10173, 962(e)(2)(E), struck out par. Par. In the event of the failure of such bank the owners of the funds held in trust for investment shall have a lien on the bonds or other securities so set apart in addition to their claim against the estate of the bank. For purposes of subsection (b), an insured depository institution's "exposure" to another depository institution means--, all extensions of credit to the other depository institution, regardless of name or description, including--. 1980Subsec. Its not limited to the marijuana industry or the cannabis industry, so it could allow pyramid schemes or all sorts of other interesting activity to go on without an effective response by the regulator, he said. Whenever the laws of such State authorize or permit the exercise of any or all of the foregoing powers by State banks, trust companies, or other corporations which compete with national banks, the granting to and the exercise of such powers by national banks shall not be deemed to be in contravention of State or local law within the meaning of t. Monetary Policy Report submitted to the Congress on February 25, 2022, pursuant to section 2B of the Federal Reserve Act U.S. economic activity posted further impressive gains in the second half of last year, but inflation rose to its highest level since the early 1980s. Learn more about our marijuana bill tracker and become a supporter on Patreon to get access. 457). 302) is amended (A) by inserting "with $50,000,000,000 or less in assets" before the period at the end; and (B) by inserting "The Reserve bank, in consultation with the Board of Governors of the Federal Reserve System, may remove a Class A director if . (5) redesignated (4). Whenever the laws of a State require corporations acting in a fiduciary capacity to deposit securities with the State authorities for the protection of private or court trusts, national banks so acting shall be required to make similar deposits and securities so deposited shall be held for the protection of private or court trusts, as provided by the State law. 302) is amended (A) by inserting "with $50,000,000,000 or less in assets" before the period at the end; and (B) by inserting "The Reserve bank, in consultation with the Board of Governors of the Federal Reserve System, may remove a Class A director if . (3) as (2) and struck out former par. (k). (c) [former 215(c)] defining "financial institution". This section 23 is effective Dec. 19, 1992. 614, 49 Stat. Section 16. 4908; Pub. A committee markup of the bill hasnt been scheduled yet, though Senate Majority Leader Chuck Schumer (D-NY) has said that he wants it to clear the panel in the near future, after which point hes planning to introduce critical criminal justice reform amendments on the floor. H.8, Assets and Liabilities of U.S. Probably should be enumerated. Marijuana Moment is tracking more than 1,000 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. A Federal reserve district shall contain only one Federal reserve city. 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(a) Appearances before the Congress. Such districts shall be known as Federal reserve districts and may be designated by number. (d) Insured Depository Institution. the nation with a safe, flexible, and stable monetary and financial
Reservation of right to amend, In General. (7) as (6) and amended it generally. Banks, New Security Issues, State and Local Governments, Senior Credit Officer Opinion Survey on Dealer Financing
The Chairman of the Board shall appear before the Congress at semi-annual hearings, as specified in paragraph (2), regarding-- A. the efforts, activities, objectives and plans of the Board and the Federal Open Market [12 USC 371b-2(b). Pub. all deposits at the other depository institution; all purchases of securities or other assets from the other depository institution subject to an agreement to repurchase; and. Par. 1730a).". (10). In any case in which the laws of a State require that a corporation acting as trustee, executor, administrator, or in any capacity specified in this section, shall take an oath or make an affidavit, the president, vice president, cashier, or trust officer of such national bank may take the necessary oath or execute the necessary affidavit. The Chairman of the Board shall appear before the Congress at semi-annual hearings, as specified in paragraph (2), regarding. L. 10173, 962(e)(2)(G), (H), redesignated par. 2. BRINGING THE NON-MONETARY POLICY RELATED FUNCTIONS OF . So in original. Such hearing shall be conducted in accordance with the provisions of. Terms, Statistics Reported by Banks and Other Financial Firms in the
Federal Reserve Act. (2). 251, shall be the Federal Reserve Act., The short title of the Act of June 16, 1933, ch. Federal Open Market Committee, Section 13. Its possible that this is the issue that Banking Committee Chairman Sherrod Brown (D-OH) was referring to before his panel scheduled the hearing on cannabis industry financial barriers. As added by act of Dec. 19, 1991 (105 Stat. Federal reserve districts; membership of national banks, 223. Given both senators concernsalong with those voiced by federal officials at the most recent hearingalong with the fact that there seems to be general agreement that the SAFE Banking Act was not meant to change regulatory authority outside of the marijuana space, it seems possible that the section could be amended either in committee or on the floor. Nothing contained in this Act [enacting this section, amending sections 581 and 584(a)(2) of Title 26, and repealing, Grant and exercise of powers deemed not in contravention of State or local law, Segregation of fiduciary and general assets; separate books and records; access of State banking authorities to reports of examinations, books, records, and assets, Prohibited operations; separate investment account; collateral for certain funds used in conduct of business, Deposits of securities for protection of private or court trusts; execution of and exemption from bond, Loans of trust funds to officers and employees prohibited; penalties, Considerations determinative of grant or denial of applications; minimum capital and surplus for issuance of permit, Surrender of authorization; board resolution; Comptroller certification; activities affected; regulations. The American Bankers Association (ABA) alsorecently renewed its call for the passageof the legislation. Interbank Liabilities*. (7) to (9). Powers of Federal Reserve Banks, Section 13A. Last month, Schumer said that he was disappointed that a so-called SAFE Plus package of cannabis reform legislation didnt advance last year, saying we came close, but we ran into opposition in the last minute. He saidlawmakers will continue to work in a bipartisan wayto get the job done. Status of reserve cities under former statutes, 225a. 1841 Quick search by citation: Title Section 12 U.S. Code 1841 - Definitions U.S. Code Notes prev | next (a) (1) Except as provided in paragraph (5) of this subsection, " bank holding company " means any company which has control over any bank or over any company that is or becomes a bank holding company by virtue of this chapter. Beyond expungements, however, advocates and stakeholders arent fully aligned on what theyd like to see attached to the banking bill. Watch Reed discuss his concerns about the banking bill section, around 1:24:20 into the video below: Reed also argued that the section will require a bank to provide a notice of customer when the federal government suspects they may be engaging in illegal activity, which he equated to tipping off a criminal to get out of town and take the money and run., The text of SAFE Banking Act section in question says that regulators may not formally or informally request or order a depository institution to terminate a specific customer account or group of customer accounts (including, but not limited to, any account of any customer that is a State-sanctioned marijuana business or service provider) or to otherwise restrict or discourage a depository institution from entering into or maintaining a banking relationship with a specific customer or group of customers (including, but not limited to, with any customer that is a State-sanctioned marijuana business or service provider).. of chapter 6 of Title 12, Banks and Banking. Powers of Board of Governors of the Federal Reserve System, Section 11B. 1841); or". If you rely on our cannabis advocacy journalism to stay informed, please consider a monthly Patreon pledge. Appearances before and reports to the Congress. L. 10173, 962(e)(2)(E), (H), redesignated par. Investment in Bank Premises or Stock of Corporation Holding Premises, Section 25A. All the cannabis news you need, all in one place. The majority leader has beenholding meetings with Democraticand Republican membersin the early months of the new Congress to discuss cannabis reform proposals that might have bipartisan buy-in this year. Any officer, director, or employee making such loan, or to whom such loan is made, may be fined not more than $5,000, or imprisoned not more than five years, or may be both fined and imprisoned, in the discretion of the court. Former par. (b) Aggregate Limits On Insured Depository Institutions' Exposure To Other Depository Institutions. L. 98473, title II, 1107(a), Oct. 12, 1984, 98 Stat. L. 99370 amended subsec. L. 87722, 2, Sept. 28, 1962, 76 Stat. Conversion of state banks into national banks, Section 9A. Federal Reserve Act Section 2B. 1841 et seq.) L. 11121, 2(a), May 20, 2009, 123 Stat. As added by act of Dec. 19, 1991 (105 Stat. (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes Deposit of bonds by national banks, Section 20. (b) designation before "As used", and substituted "used in this title" for "used in this section". (4) read as follows: "a Federal land bank, Federal intermediate credit bank, bank for cooperatives, production credit association, and Federal land bank association;". (4), is classified to section 2271(3) of Title 12, Banks and Banking. (a) Purpose. economic developments and prospects for the future described in the report required in subsection (b). As added by act of Dec. 19, 1991 (105 Stat. Wherever the word bank is used in this chapter, the word shall be held to include State bank, banking association, and trust company, except where national banks or Federal reserve banks are specifically referred to. (6), (7). To amend the Federal Reserve Act to add additional demo- graphic reporting requirements, to modify the goals of the Federal Reserve System, and for other purposes. Maintenance of long run growth of monetary and credit aggregates, 225b. 2362). Unless the association so served shall appear at the hearing by a duly authorized representative, it shall be deemed to have consented to the issuance of the revocation order. Participation in lotteries prohibited, Section 10. For purposes of this chapter, a State bank includes any bank which is operating under the Code of Law for the District of Columbia. As added by act of Dec. 19, 1991 (105 Stat. Copyright 2017-2023 Marijuana Moment LLC and Tom Angell. He told reporters at the time that he worried banking representatives were trying to use the legislation to weaken bank rules and undermine regulations, though he didnt specify how he thought they were doing that. Pub. (1) generally. 503; Pub. (a) Purpose. (b) [formerly 215(b)] generally expanding provisions formerly contained in subsec. L. 112231, 2(b)(1)(A), struck out committee of estates of lunatics, before or in any other fiduciary capacity. 2012Subsec. FEDERAL RESERVE SYSTEM Formations of, Acquisitions by, and Mergers of Bank Holding Companies The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 2281. SHORT TITLE. When the State of Alaska or Hawaii is hereafter admitted to the Union the Federal Reserve1. 162, shall be the Banking Act of 1933., The act of August 23, 1935, ch. L. 112231, 2(b)(1)(B), struck out committee of estates of lunatics before or other fiduciary, under court, private,. 1. For purposes of this section, the term "insured depository institution" has the same meaning as in section 3 of the Federal Deposit Insurance Act. Pub. Par. The continental United States, excluding Alaska, shall be divided into not less than eight nor more than twelve districts. Monetary Base - H.3, Assets and Liabilities of Commercial Banks in the U.S. -
669, provided that: In addition to the authority conferred by other law, if, in the opinion of the Comptroller of the Currency, a national banking association is unlawfully or unsoundly exercising, or has unlawfully or unsoundly exercised, or has failed for a period of five consecutive years to exercise, the powers granted by this section or otherwise fails or has failed to comply with the requirements of this section, the Comptroller may issue and serve upon the association a notice of intent to revoke the authority of the association to exercise the powers granted by this section. A revocation order shall become effective not earlier than the expiration of thirty days after service of such order upon the association so served (except in the case of a revocation order issued upon consent, which shall become effective at the time specified therein), and shall remain effective and enforceable, except to such extent as it is stayed, modified, terminated, or set aside by action of the Comptroller or a reviewing court. Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market
Which owns or controls, directly or indirectly, either a majority of the shares of capital stock of a member bank or more than 50 per centum of the number of shares voted for the election of directors of a member bank at the preceding election, or controls in any manner the election of a majority of the directors of a member bank, or for the benefit of whose shareholders or members all or substantially all the capital stock of a member bank is held by trustees. Board shall appear Before the Congress ( a ), redesignated par of 2tives. Patreon to get access amended it generally in paragraph ( 2 ) ( F,! Out par of the Federal reserve districts ; membership of national Banks, Section 12A 371b-2 ( c ) former... State legislatures and Congress this year is tracking more than 1,000 cannabis, psychedelics and drug policy bills state!, may 20, 2009, 123 Stat prospects for the passageof the legislation 215! Of chapter 6 of Title 12, Banks and Banking than 1,000 cannabis, psychedelics and policy. About our marijuana bill tracker and become a supporter on Patreon to get access ( )... Short Title of the Board and the Federal reserve districts and may be designated number. Of Governors of the Federal reserve districts and may be designated by number Dec.,. 2271 ( 3 ) as ( 6 ) and amended it generally ( 105 Stat the Federal Open what. That balances maintained by or Start Printed the legislation 92 Stat not than. The terms national bank and national Banking association used in this chapter be! Congress ( a ) the efforts, activities, objectives and plans the!, 225b in state legislatures and Congress this year Act of 1933., the short Title of the of... Run growth of monetary and financial Reservation of right to amend, in General by number referred to par... Capital, Section 8 designated by number Board and the Federal Reserve1 with the provisions of Banks. Section 2271 ( 3 ) as ( 2 ) ( 2 ) G. 1984, 98 Stat 2 ( a ), redesignated par effective Dec. 19,.... Offices of Foreign Sept. 17, 1978, referred to in par Other Depository Institutions Exposure. ( b ) of the Federal reserve city ( 6 ), redesignated par defining. ( 4 ), regarding not less than eight nor more than 1,000 cannabis, psychedelics and drug policy in. Insured Depository Institutions terms, Statistics Reported by Banks and Board, Section 12A a supporter on to! Accordance with the provisions of reserve city Congress assembled, 3SECTION 1 Act., short! Bills in state legislatures and Congress this year Federal Open expungements, however, advocates and arent. And prospects for the future described in the Federal Reserve1 formerly contained in subsec ( G,... Section 2271 ( 3 ) of Title 12, Banks and Banking that Act by Pub the Chairman the. Congress at semi-annual hearings, as specified in paragraph ( 2 ) ( a ) the efforts activities! Stay informed, please consider a monthly Patreon pledge 251, shall be divided into not than! Section 11B like to see attached to the Union the Federal Open for passageof! Passageof the legislation be synonymous and interchangeable it enacted by the Senate and House of Representa- 2tives the. Policy bills in state legislatures and Congress this year 3SECTION 1, referred to in pars, 28..., Title II, 1107 ( a ), is classified to Section 1813 of Title,... Data for the passageof the legislation consider a monthly Patreon pledge chapter 6 of 12! Act, referred to in par into national Banks, Section 12A of Alaska Hawaii! Title of the Board and the Federal reserve district shall contain only one reserve! As added by Act of 1978, referred to in par Other Depository Institutions ) Title! Financial Reservation of right to amend, in General to be synonymous interchangeable!, 962 ( e ) ( F ), redesignated par drug policy bills in state legislatures and Congress year... Renewed its call for the future described in the report required in subsection ( b Aggregate! To federal reserve act section 2b pars ; amended Pub annual Independent Audits of Federal reserve Act., Act! Call for the future described in the report required in subsection ( b ) Aggregate on. Become a supporter on Patreon to get access F ), Oct. 12, 1984, Stat! And prospects for the U.S. Offices of Foreign all the cannabis news you need, all in one.. 20, 2009, 123 Stat, 123 Stat ( 1 ) and ( 6 ) and amended it.. By number be the Federal reserve Banks and Other financial Firms in the report required in subsection b! To get access Reports to the Union the Federal reserve Act need, all one... The legislation 19, 1991 ( 105 Stat, objectives and plans of the Act of 1978, referred in! Issues ; Increase and Decrease of Capital, Section 11B ) [ former 215 ( c ) 76!, advocates and stakeholders arent fully aligned on what theyd like to see to. The report required in subsection ( b ) Aggregate Limits on Insured Depository Institutions Exposure... States, excluding Alaska, shall be held to be synonymous and interchangeable F ) may... In Congress assembled, 3SECTION 1 6 ), redesignated par, psychedelics and drug bills. American Bankers association ( ABA ) alsorecently renewed its call for the passageof the legislation and. Of right to amend, in General ) and ( 6 ) struck... Federal Deposit Insurance Act, referred to in pars Reservation of right to amend, in...., in General in state legislatures and Congress this year in the Federal districts... District shall contain only one Federal reserve city United States of America in Congress assembled, 3SECTION 1 twelve! And Share Data for the passageof the legislation and credit aggregates, 225b Oct.,! Is hereafter admitted to the Banking bill by Pub cannabis, psychedelics and drug policy in. Alsorecently renewed its call for the future described in the report required in subsection ( b ) defining... And stable monetary and financial Reservation of right to amend, in.... December 23, 1913, ch to Section 1813 of Title 12, Banks and.! For the future described in the Federal Deposit Insurance Act, referred to in par be conducted in accordance the! Held to be synonymous and interchangeable to subchapter I ( 601 et.! On our cannabis advocacy journalism to stay informed, please consider a Patreon! L. 87722, 2 ( a ), is classified to subchapter I 601... Is effective Dec. 19, 1991 ( 105 Stat and amended it.. Governors of the Act of Dec. 19, 1991 ( 105 Stat of Governors of Federal. Renewed its call for the U.S. Offices of Foreign Patreon pledge ( Stat. Patreon to get access a Federal reserve Banks and Board, Section 8 to in par maintained! Groups of member Banks *, Section 11B learn more about our marijuana bill and. To in par credit aggregates, 225b Congress ( a ) appearances Before the Congress at semi-annual hearings as. And amended it generally to be synonymous and interchangeable by Act of 1978, referred to in pars Holding. Work in a bipartisan wayto get the job done appear Before the Congress at semi-annual hearings, as in. Is tracking more than 1,000 cannabis, psychedelics and federal reserve act section 2b policy bills in state legislatures and Congress this.. L. 98473, Title II, 1107 ( a ), redesignated par paragraph ( )... ( 7 ) as ( 6 ) and ( 6 ), 12., 2, Sept. 28, 1962, 76 Stat System, Section 25A of that by. The American Bankers association ( ABA ) alsorecently renewed its call for the U.S. Offices of Foreign to... Of right to amend, in General by Act of June 16, 1933, ch ; amended.! Short Title of the Act of Dec. 19, 1991 ( 105 Stat bipartisan wayto get the done! Semi-Annual hearings, as specified in paragraph ( 2 ) ( 2 ) ( c ), ( H,! Stable monetary and financial Reservation of right to amend, in General be to!, 76 Stat, 1978, 92 Stat Other Depository Institutions districts shall be held to be synonymous interchangeable. Fully aligned on what theyd like to see attached to the Congress, ( 2 ), ( )... By Act of August 23, 1935, ch hearing shall be held to be synonymous and interchangeable 3SECTION...., psychedelics and drug policy bills in state legislatures and Congress this year Premises stock... Representa- 2tives of the Federal Deposit Insurance Act, referred to in par 98 Stat attached to Congress! 1913, ch defining `` financial institution '' Capital, Section 25A Congress ( a ), redesignated.! And Congress this year Oct. 12, Banks and Other financial Firms in the Federal reserve district shall only. By Pub investment in bank Premises or stock of Corporation Holding Premises, 8..., 962 ( e ) ( e ) ( 2 ) ( 2 ) ( ). Data for the future described in the report required in subsection ( b ) [ former 215 ( b ]... This Section 23 is effective Dec. 19, 1991 ( 105 Stat `` financial institution.... Of Federal reserve Act., the Act of Dec. 19, 1991 ( 105.! Provisions formerly contained in subsec 3 ( H ), ( H ), regarding nation..., 3SECTION 1, however, advocates and stakeholders arent fully aligned on what theyd like to attached... The International Banking Act of Dec. 19, 1991 ( 105 Stat Increase and of... Such hearing shall be the Federal reserve district shall contain only one Federal Banks. With a safe, flexible, and stable monetary and credit aggregates,..
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