---
kind: "section"
citation: "12 U.S.C. § 290"
title: "12"
title_heading: "Banks and Banking"
number: "290"
heading: "Use of earnings transferred to the Treasury"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/290"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter VI — Capital and Stock of Federal Reserve Banks; Dividends and Earnings"
---

# §290. Use of earnings transferred to the Treasury


The net earnings derived by the United States from Federal [reserve banks](/usc/12/221a.md?p=a) shall, in the discretion of the [Secretary](/usc/12/1715z–22a.md?p=4), be used to supplement the gold reserve held against outstanding United States notes, or shall be applied to the reduction of the outstanding bonded indebtedness of the United States under regulations to be prescribed by the [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury. Should a Federal [reserve bank](/usc/12/221a.md?p=a) be dissolved or go into liquidation, any surplus remaining, after the payment of all debts, dividend requirements as hereinbefore provided, and the par value of the stock, shall be paid to and become the property of the United States and shall be similarly applied.


## Source credit

(Dec. 23, 1913, ch. 6, § 7(b), 38 Stat. 258; Pub. L. 103–66, title III, § 3002(c)(1), Aug. 10, 1993, 107 Stat. 337.)

## Notes

### Editorial Notes

### Codification

Section is comprised of subsec. (b) [formerly second undesignated par.] of section 7 of act Dec. 23, 1913. Subsec. (a) and another subsec. (b) [enacted by Pub. L. 106–113, div. B, § 1000(a)(5) [title III, § 302(2)], Nov. 29, 1999, 113 Stat. 1536, 1501A–304] of section 7 are classified to section 289 of this title. Subsec. (c) of section 7 is classified to section 531 of this title.

### Amendments

1993—Pub. L. 103–66 inserted section catchline.