US Codex
U.S.C.
Notes

§343. Discount of obligations arising out of actual commercial transactions — Inbound Citations

12 U.S.C. § 343

Cited by 18 provisions in release 119-102.

Citations to 12 U.S.C. § 343 as a whole

  • 11 U.S.C. § 507(a)(2)
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    (2) Second, administrative expenses allowed under section 503(b) of this title, unsecured claims of any Federal reserve bank related to loans made through programs or facilities authorized under section 13(3) of the Federal Reserve Act (12 U.S.C. 343),1 and any fees and charges assessed against the estate under chapter 123 of title 28.
  • 12 U.S.C. § 371(b)
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    (b) Notes representing loans made under this section to finance the construction of residential or farm buildings and having maturities not to exceed nine months shall be eligible for discount as commercial paper within the terms of the first paragraph of section 343 of this title if accompanied by a valid and binding agreement to advance the full amount of the loan upon the completion of the building entered into by an individual, partnership, association, or corporation acceptable to the discounting bank.
  • 12 U.S.C. § 5235(a)
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    (a) Not later than 7 days after the date on which the Board exercises its authority under the third paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 343; relating to discounts for individuals, partnerships, and corporations) the Board shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report which includes—
    (1) the justification for exercising the authority; and
    (2) the specific terms of the actions of the Board, including the size and duration of the lending, available information concerning the value of any collateral held with respect to such a loan, the recipient of warrants or any other potential equity in exchange for the loan, and any expected cost to the taxpayers for such exercise.
  • 31 U.S.C. § 714(e)
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    (e) Notwithstanding subsection (b), the Comptroller General may conduct audits, including onsite examinations when the Comptroller General determines such audits and examinations are appropriate, of any action taken by the Board under the third undesignated paragraph of section 132 of the Federal Reserve Act (12 U.S.C. 343); with respect to a single and specific partnership or corporation.
  • 31 U.S.C. § 714(f)(1)(A)
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    (A) The term “credit facility” means a program or facility, including any special purpose vehicle or other entity established by or on behalf of the Board of Governors of the Federal Reserve System or a Federal reserve bank, authorized by the Board of Governors under section 13(3) of the Federal Reserve Act (12 U.S.C. 343), that is not subject to audit under subsection (e).

Citations to §343(3)

  • 12 U.S.C. § 225b(c)(3)
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    (3) the reports to the Committee on Banking, Housing, and Urban Affairs of the Senate required under section 343(3) of this title (relating to emergency lending authority); and
  • 12 U.S.C. § 248(r)(2)(A)
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    (A) Any action that the Board is otherwise authorized to take under section 343(3) of this title may be taken upon the unanimous vote of all available members then in office, if—
    (i) at least 2 members are available and all available members participate in the action;
    (ii) the available members unanimously determine that—
    (I) unusual and exigent circumstances exist and the borrower is unable to secure adequate credit accommodations from other sources;
    (II) action on the matter is necessary to prevent, correct, or mitigate serious harm to the economy or the stability of the financial system of the United States;
    (III) despite the use of all means available (including all available telephonic, telegraphic, and other electronic means), the other members of the Board have not been able to be contacted on the matter; and
    (IV) action on the matter is required before the number of Board members otherwise required to vote on the matter can be contacted through any available means (including all available telephonic, telegraphic, and other electronic means); and
    (iii) any credit extended by a Federal reserve bank pursuant to such action is payable upon demand of the Board.
  • 15 U.S.C. § 9042(c)(3)(B)
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    (B) For the avoidance of doubt, any applicable requirements under section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)), including requirements relating to loan collateralization, taxpayer protection, and borrower solvency, shall apply with respect to any program or facility described in subsection (b)(4).
  • 15 U.S.C. § 9042(c)(3)(D)(ii)
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    (ii) Nothing in this subparagraph shall limit the discretion of the Board of Governors of the Federal Reserve System to establish a Main Street Lending Program or other similar program or facility that supports lending to small and mid-sized businesses on such terms and conditions as the Board may set consistent with section 13(3) of the Federal Reserve Act (12 U.S.C. 343(3)), including any such program in which the Secretary makes a loan, loan guarantee, or other investment under subsection (b)(4).
  • 15 U.S.C. § 9060(b)(2)(A)
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    (A) With respect to any program or facility described in paragraph (4) of section 9042(b) of this title, the Board of Governors of the Federal Reserve System shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives such reports as are required to be provided under section 343(3) of title 12—
    (i) not later than 7 days after the Board authorizes a new facility or other financial assistance in accordance with section 343(3)(C)(i) of title 12; and
    (ii) once every 30 days with respect to outstanding loans or financial assistance in accordance with section 343(3)(C)(ii) of title 12.
  • 15 U.S.C. § 9063(c)(1)
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    (1) After December 31, 2020, the Board of Governors of the Federal Reserve System and the Federal Reserve banks shall not make any loan, purchase any obligation, asset, security, or other interest, or make any extension of credit through any program or facility established under section 343(3) of title 12 in which the Secretary made a loan, loan guarantee, or other investment pursuant to section 9042(b)(4) of this title, other than a loan submitted, on or before December 14, 2020, to the Main Street Lending Program’s lender portal for the sale of a participation interest in such loan, provided that the Main Street Lending Program purchases a participation interest in such loan on or before January 8, 2021 and under the terms and conditions of the Main Street Lending Program as in effect on the date the loan was submitted to the Main Street Lending Program’s lender portal for the sale of a participation interest in such loan.
  • 15 U.S.C. § 9063(c)(2)(A)
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    (A) shall not modify the terms and conditions of any program or facility established under section 343(3) of title 12 in which the Secretary made a loan, loan guarantee, or other investment pursuant to section 9042(b)(4) of this title, including by authorizing transfer of such funds to a new program or facility established under section 343(3) of title 12; and
  • 15 U.S.C. § 9063(c)(3)(B)
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    (B) The fund established under section 5302 of title 31 shall not be available for any program or facility established under section 343(3) of title 12 that is the same as any such program or facility in which the Secretary made an investment pursuant to section 9042(b)(4) of this title, except the Term Asset-Backed Securities Loan Facility.

Citations to §343(3)(A)

  • 15 U.S.C. § 8305(b)(1)
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    (1) The term “Federal assistance” means the use of any advances from any Federal Reserve credit facility or discount window that is not part of a program or facility with broad-based eligibility under section 343(3)(A) of title 12, Federal Deposit Insurance Corporation insurance or guarantees for the purpose of—
    (A) making any loan to, or purchasing any stock, equity interest, or debt obligation of, any swaps entity;
    (B) purchasing the assets of any swaps entity;
    (C) guaranteeing any loan or debt issuance of any swaps entity; or
    (D) entering into any assistance arrangement (including tax breaks), loss sharing, or profit sharing with any swaps entity.

Citations to §343(3)(C)

Citations to §343(3)(C)(i)

Citations to §343(3)(C)(ii)

Citations to §343(3)(D)