StacksVerified U.S. federal law reference

12 U.S.C. § 374 — Acting as agent for nonmember bank in getting discounts from reserve bank

Verified against govinfo.gov as of June 20, 2026View official text on govinfo.gov
No member bank shall act as the medium or agent of a nonmember bank in applying for or receiving discounts from a Federal reserve bank under the provisions of this chapter, except by permission of the Board of Governors of the Federal Reserve System.