---
kind: "section"
citation: "12 U.S.C. § 352"
title: "12"
title_heading: "Banks and Banking"
number: "352"
heading: "Limitation on amount of obligations of certain maturities which may be discounted and rediscounted"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/352"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter IX — Powers and Duties of Federal Reserve Banks"
---

# §352. Limitation on amount of obligations of certain maturities which may be discounted and rediscounted


The [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System may, by regulation, limit to a percentage of the assets of a Federal [reserve bank](/usc/12/221a.md?p=a) the amount of notes, drafts, acceptances, or bills having a maturity in excess of three months, but not exceeding six months, exclusive of days of grace, which may be discounted by such bank, and the amount of notes, drafts, bills, or acceptances having a maturity in excess of six months, but not exceeding nine months, which may be rediscounted by such bank.


## Source credit

(Dec. 23, 1913, ch. 6, § 13A (par.), formerly § 13a, as added Mar. 4, 1923, ch. 252, title IV, § 404, 42 Stat. 1480; amended Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; renumbered § 13A, Pub. L. 102–242, title I, § 142(e)(1), Dec. 19, 1991, 105 Stat. 2281.)

## Notes

### Editorial Notes

### Codification

Section is comprised of fifth par. of section 13A, formerly section 13a, as added Mar. 4, 1923. Pars. 1 to 4 of section 13A are set out as sections 348, 349 to 351 of this title, respectively.

### Statutory Notes and Related Subsidiaries

### Change of Name

Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.