Title 12, Banks and BankingRelease 119-102
§354 Transactions Involving Gold Coin, Bullion, and Certificates
Title 12 › CHAPTER 3 — FEDERAL RESERVE SYSTEM › SUBCHAPTER IX — POWERS AND DUTIES OF FEDERAL RESERVE BANKS › § 354
Summary
Federal Reserve banks can deal in gold at home or abroad, lend against it, exchange notes for gold or certificates, and borrow gold by pledging U.S. bonds.
Full Legal Text
Title 12, §354
Banks and Banking, Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 354
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102