Federal

Title 12 — Banks and Banking

1,996 sections, each with the official text and a plain-English explanation of what it means for you.

• § 5704 — Approving State capital access programs
• § 5705 — Approving collateral support and other innovative credit access and guarantee initiatives for small businesses and manufacturers
• § 5706 — Reports
• § 5707 — Remedies for State program termination or failures
• § 5708 — Implementation and administration
• § 5709 — Regulations
• § 5710 — Oversight and audits
• § 58 — Repealed. Pub. L. 86–230, § 6 , Sept. 8, 1959 , 73 Stat. 457
• § 5801 — Findings and purpose
• § 5802 — Definitions
• § 5803 — LIBOR contracts
• § 5804 — Continuity of contract and safe harbor
• § 5805 — Benchmark for loans
• § 5806 — Preemption
• § 5807 — Rulemaking
• § 581 — Repealed. June 25, 1948, ch. 645, § 21 , 62 Stat. 862 , eff. Sept. 1, 1948
• § 582 — Receipt of United States or bank notes as collateral
• § 583 to 588d — Repealed. June 25, 1948, ch. 645, § 21 , 62 Stat. 862 , eff. Sept. 1, 1948
• § 59 — Reduction of capital
• § 5901 — Definitions
• § 5902 — Issuance and treatment of payment stablecoins
• § 5903 — Requirements for issuing payment stablecoins
• § 5904 — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers
• § 5905 — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions
• § 5906 — State qualified payment stablecoin issuers
• § 5907 — Anti-money laundering protections
• § 5908 — Anti-money laundering innovation
• § 5909 — Custody of payment stablecoin reserve and collateral
• § 591 to 599 — Repealed. June 25, 1948, ch. 645, § 21 , 62 Stat. 862 , eff. Sept. 1, 1948
• § 5910 — Treatment of payment stablecoin issuers in insolvency proceedings
• § 5911 — Application of existing insolvency law
• § 5912 — Interoperability standards
• § 5913 — Rulemaking
• § 5914 — Reports
• § 5915 — Authority of banking institutions
• § 5916 — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions
• § 60 — National bank dividends
• § 601 — Authorization; conditions and regulations
• § 602 — Reports and examinations
• § 603 — Restrictions imposed by Board of Governors of the Federal Reserve System on banks purchasing stock in corporations doing foreign business
• § 604 — Accounts of foreign branches; profit and loss
• § 604a — Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions
• § 605 — Repealed. Aug. 23, 1935, ch. 614 , title III, § 329, 49 Stat. 717
• § 61 — Shareholders’ voting rights; cumulative and distributive voting; preferred stock; trust shares; proxies, liability restrictions; percentage requirement exclusion of trust shares
• § 611 — Formation authorized; fiscal agents; depositaries in insular possessions
• § 611a — Statement of purposes; rules and regulations
• § 612 — Articles of association; contents
• § 613 — Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents
• § 614 — Organization certificate; acknowledgment; forwarding to, filing, and approval by Board of Governors of the Federal Reserve System; permit to do business; body corporate; name; seal; corporate succession; contracts; suits; directors, officers, and employees; bylaws
• § 615 — Powers of corporation
• § 616 — Place of carrying on business; when business may be begun
• § 617 — Engaging in commerce or trade in commodities; price fixing; forfeiture of charter; acts forbidden to directors, officers, agents, or employees
• § 618 — Capital stock; amount; when paid in
• § 619 — Capital stock; by whom held; ownership of capital stock by foreign bank
• § 62 — List of shareholders
• § 620 — Members of Board of Governors of the Federal Reserve System without interest in corporation
• § 621 — Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited
• § 622 — Forfeiture of rights and privileges; dissolution; liability of directors and officers
• § 623 — Voluntary liquidation
• § 624 — Appointment of receiver or conservator
• § 625 — Stockholders’ meetings; books and records; reports; examination
• § 626 — Dividends; surplus fund
• § 627 — State taxation
• § 628 — Extension of corporate existence
• § 629 — Conversion of banking corporations into Federal corporations; procedure
• § 63, 64 — Repealed. Pub. L. 86–230, § 7 , Sept. 8, 1959 , 73 Stat. 457
• § 630 — Offenses by officers of corporation; punishment
• § 631 — False representations as to liability of United States for acts of corporation; punishment
• § 632 — Jurisdiction of United States courts; disposition by banks of foreign owned property
• § 633 — Potential liability on foreign accounts
• § 635 — Powers and functions of Bank
• § 635a — Management of Bank
• § 635a–1 — Export credit competition
• § 635a–2 — Implementation of regulations and procedures to lessen adverse effect of loans and guarantees on industries in United States; report by United States International Trade Commission; written consideration of views of adversely affected parties
• § 635a–3 — Export-Import Bank financing to match foreign financing
• § 635a–4 — Guarantees for export accounts receivable and inventory
• § 635a–5 — Negotiations to end export credit financing
• § 635a–6 — Periodic audits of bank transactions
• § 635a–7 — Independent audit of bank portfolio
• § 635b — Capitalization of Bank; method of capital stock payments; public-debt transactions; issuance of stock certificates
• § 635c — Repealed. Pub. L. 102–429, title I, § 121(c)(1) , Oct. 21, 1992 , 106 Stat. 2199
• § 635d — Issuance of debentures, bonds, etc.; obligations redeemable; payment of interest; obligations purchasable by Secretary of the Treasury; public-debt transactions
• § 635e — Aggregate loan, guarantee, and insurance authority
• § 635f — Termination date of Bank’s functions; exceptions; liquidation
• § 635g — Report to Congress; time for submission; contents
• § 635g–1 — Annual competitiveness report
• § 635h — Exemption from prohibition of section 955 of title 18
• § 635i to 635i–2 — Repealed. Pub. L. 102–429, title I, § 121(c)(1) , Oct. 21, 1992 , 106 Stat. 2199
• § 635i–3 — Tied Aid Credit Fund and program
• § 635i–4 — Repealed. Pub. L. 102–429, title I, § 121(c)(1) , Oct. 21, 1992 , 106 Stat. 2199
• § 635i–5 — Environmental policy and procedures
• § 635i–6 — Debt reduction; Enterprise for the Americas Initiative
• § 635i–7 — Cooperation on export financing programs
• § 635i–8 — Special debt relief for poorest, most heavily indebted countries
• § 635i–9 — Market windows
• § 635j — Export financing program to foster foreign trade and commercial interest of the United States
• § 635k — Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations
• § 635l — Authorization for appropriation of funds for losses
• § 635m — Loans, guarantees, and insurance subject to the provisions of this chapter
• § 635n — Prohibition of loans, guarantees, and insurance as to sales of defense articles or services
• § 635o — Congressional statement of purpose
• § 635p — Presidential mandate to negotiate; objectives
• § 635q — Establishment of tied aid credit program in United States Export-Import Bank
• § 635r — Establishment of tied aid credit program administered by Trade and Development Agency
• § 635s — Implementation
• § 635t — Definitions
• § 636 to 636h — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 637, 638 — Repealed. Aug. 6, 1953, ch. 335, § 19 , 67 Stat. 400
• § 639, 640 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 640–1 — Omitted
• § 640a to 640l — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 641, 642 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 64a — Individual liability of shareholders; limitation on liability
• § 65 — Repealed. Pub. L. 86–230, § 8 , Sept. 8, 1959 , 73 Stat. 457
• § 651 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 652 to 655 — Repealed. Aug. 6, 1953, ch. 335, § 19 , 67 Stat. 400
• § 656, 656a — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 657 — Repealed. Sept. 21, 1944, ch. 412, § 601(d) , 58 Stat. 741 , eff. July 1, 1944
• § 658, 659 — Repealed. Pub. L. 86–168, title I, § 101(b) , (c), Aug. 18, 1959 , 73 Stat. 384 , eff. Dec. 31, 1959
• § 66 — Personal liability of representatives of stockholders
• § 660 to 665 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 67 — Individual liability of shareholders; compromises; authority of receiver
• § 671 — Repealed. Aug. 19, 1937, ch. 704, § 7(a) , 50 Stat. 707
• § 672 to 677a — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 678 to 682 — Omitted
• § 682a — Repealed. Aug. 19, 1937, ch. 704, § 7(c) , 50 Stat. 707
• § 683 — Omitted
• § 691 to 697 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 698 — Repealed. Aug. 11, 1955, ch. 785 , title III, § 302, 69 Stat. 664
• § 7 — Chief of examining division
• § 701 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 71 — Election
• § 711 to 724 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 71a — Number of directors; penalties
• § 72 — Qualifications
• § 73 — Oath
• § 731 to 734 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 74 — Vacancies
• § 741 to 747 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 75 — Legal holiday, annual meeting on; proceedings where no election held on proper day
• § 751 to 757 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 76 — President of bank as member of board; chairman of board
• § 761 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 77 — Repealed. Pub. L. 89–695, title II, § 207 , Oct. 16, 1966 , 80 Stat. 1055
• § 771, 772 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 773 — Omitted
• § 773a — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 78 — Repealed. Pub. L. 106–102, title I, § 101(b) , Nov. 12, 1999 , 113 Stat. 1341
• § 781 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 791 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 8 — Clerks
• § 801 to 808 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 81 — Place of business
• § 810 to 824 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 82 — Repealed. Pub. L. 97–320, title IV, § 402 , Oct. 15, 1982 , 96 Stat. 1510
• § 83 — Loans by bank on its own stock
• § 831 to 833 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 84 — Lending limits
• § 841 to 844 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 85 — Rate of interest on loans, discounts and purchases
• § 851 to 857 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 86 — Usurious interest; penalty for taking; limitations
• § 861 to 864 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 86a — Omitted
• § 87 to 89 — Repealed. Pub. L. 103–325, title VI, § 602(e)(2) –(4), Sept. 23, 1994 , 108 Stat. 2291
• § 871 to 886 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 891 to 899 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 9 — Additional examiners, clerks, and other employees
• § 90 — Depositaries of public moneys and financial agents of Government
• § 901 to 903 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 91 — Transfers by bank and other acts in contemplation of insolvency
• § 911 to 915 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 92 — Acting as insurance agent or broker
• § 921 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 92a — Trust powers
• § 93 — Violation of provisions of chapter
• § 931 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 931a — Omitted
• § 932, 933 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 93a — Authority to prescribe rules and regulations
• § 94 — Venue of suits
• § 941 to 943 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 94a — Repealed. June 25, 1948, ch. 646, § 39 , 62 Stat. 992 , eff. Sept. 1, 1948
• § 95 — Emergency limitations and restrictions on business of members of Federal Reserve System; designation of legal holiday for national banking associations; exceptions; “State” defined
• § 951, 952 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 953 — Repealed. Pub. L. 89–554, § 8(a) , Sept. 6, 1966 , 80 Stat. 643
• § 95a, 95b — Omitted
• § 961 to 963 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 963a — Repealed. June 30, 1947, ch. 166 , title II, § 206(c), 61 Stat. 208
• § 964 to 966 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 967 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 971 to 973 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 981 to 987 — Repealed. June 25, 1948, ch. 645, § 21 , 62 Stat. 862 , eff. Sept. 1, 1948
• § 991 — Repealed. Pub. L. 92–181, title V, § 5 .26(a), Dec. 10, 1971 , 85 Stat. 624
• § 992 to 993 — Repealed. Pub. L. 87–353, § 3(a) , (w), Oct. 4, 1961 , 75 Stat. 773 , 774
• § 9a — Repealed. Pub. L. 89–554, § 8(a) , Sept. 6, 1966 , 80 Stat. 645