---
kind: "section"
citation: "12 U.S.C. § 394"
title: "12"
title_heading: "Banks and Banking"
number: "394"
heading: "Federal reserve banks as depositaries for and fiscal agents of Home Owners’ Loan Corporation"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/394"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter XI — Depositaries and Fiscal Agents"
---

# §394. Federal reserve banks as depositaries for and fiscal agents of Home Owners’ Loan Corporation


The Federal [Reserve banks](/usc/12/221a.md?p=a) are authorized, with the approval of the [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury, to act as depositaries, custodians, and fiscal agents for the Home Owners’ Loan Corporation.


## Source credit

(Apr. 27, 1934, ch. 168, § 8, 48 Stat. 646.)

## Notes

### Statutory Notes and Related Subsidiaries

### Abolition of Home Owners’ Loan Corporation

For dissolution and abolishment of Home Owners’ Loan Corporation, referred to in this section, by act June 30, 1953, ch. 170, § 21, 67 Stat. 126, see note set out under section 1463 of this title.