---
kind: "unit"
title: "12"
title_heading: "Banks and Banking"
key: "ch3/schXII"
level: "subchapter"
label: "Subchapter XII"
heading: "Federal Reserve Notes"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/ch3-schXII"
sections_count: 13
---

# Subchapter XII — Federal Reserve Notes

Title 12 — Banks and Banking › Chapter 3 — Federal Reserve System

## Sections

- [§411. Issuance to reserve banks; nature of obligation; redemption](/usc/12/411.md)
- [§412. Application for notes; collateral required](/usc/12/412.md)
- [§413. Distinctive letter and serial number of notes; cancellation of notes unfit for circulation; accounting; apportionment of credit among Federal Reserve banks](/usc/12/413.md)
- [§414. Authority of Board of Governors respecting issuance of notes; interest; lien](/usc/12/414.md)
- [§415. Reduction of liability for outstanding notes by depositing notes and collateral and payment of notes of series prior to 1928; reissue of deposited notes](/usc/12/415.md)
- [§416. Withdrawal of collateral deposited to protect notes and substitution of other collateral; retirement of notes; payment of notes of series prior to 1928; recovery of collateral; reissue of deposited notes](/usc/12/416.md)
- [§417. Custody and safe-keeping of notes issued to and collateral deposited with Reserve agent](/usc/12/417.md)
- [§418. Printing of notes; denomination and form](/usc/12/418.md)
- [§419. Delivery of notes prior to delivery to banks](/usc/12/419.md)
- [§420. Control and direction of plates and dies; expense of issue and retirement of notes paid by banks](/usc/12/420.md)
- [§421. Examination of plates and dies](/usc/12/421.md)
- [§422. Omitted](/usc/12/422.md)
- [§423. Central bank digital currency](/usc/12/423.md)