Issuance to reserve banks; nature of obligation; redemption
United States Code
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How this statute sits in the citation network, derived from CiteLaw's graph of published opinions.
★Highly CitedTop 3% most-cited · cited by 67 decisions
67
Citing decisions
6+
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Citations by decade
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7
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43
1970s1980s1990s2000s2010s2020s
Courts citing this statute
Most recently cited by10
- 2026Polinski v. United States Fed. Cir.
- 2026Tunsill v. Bessent D.D.C.
- 2025Joshua Nathaniel Blackmon Bankr. N.D. Ala.
- 2025United States v. Jonathan Michael 3rd Cir.
- 2025Rouzard v. United States Fed. Cl.
- 2025Kurt Washington, Trustee of Washington Enterprise Master Trust v. Shellpoint Mortgage Servicing N.D. Tex.
- 2025Robbins v. TD Bank N.A. D. Maryland
- 2025DIXIE v. KEYBANK NATIONAL ASSOCIATION W.D. Pa.
- 2025Bolton D.S.C.
- 2025Brookins v. Sterling National Bank N.D.N.Y.
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Text
Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank. (Source: (Dec. 23, 1913, ch. 6, § 16 (par.), 38 Stat. 265; Jan. 30, 1934, ch. 6, § 2(b)(1), 48 Stat. 337; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.))