---
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"
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/12/221.md) of Governors of the Federal Reserve System may, by regulation, limit to a percentage of the assets of a Federal [reserve bank](/usc/12/221.md) 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](/usc/12/1426a.md?p=g-1), 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](/usc/12/1426a.md?p=g-1).


## 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.