The law › Title 12, Banks and Banking › Chapter 3

12 U.S.C. 372: Bankers' acceptances

Created in 1982 by Public Law 97-290. Not changed since. No bill we track in this Congress changes it.

1 other section of the Code cite this one, including 12 U.S.C. 84.

How it got hereLaws that created or changed it, newest first

1982Pub. L. 97-290created it

12 U.S.C. 372Bankers' acceptances

(a)Institutions; drafts and bills of exchange; types

(b)Ratio limit of bills to unimpaired capital stock and surplus

(c)Authorization for special ratio limit; foreign banks

(d)Ratio limit for domestic transactions

(e)Ratio limit for single entity; foreign banks; security

(f)Exception for participation agreements

(g)Definitions by Board

(h)Dollar equivalent of foreign bank paid-up capital stock and surplus

This CongressBills that change it or would

None we track

past change
enacted this Congress
proposed

This Congress

No bill we track in the 119th Congress changes this section.

How it got here

1982

Pub. L. 97–290 designated first sentence of existing provisions as subsec. (a), inserted reference to foreign banks and their subdivisions, further designated the specifications for drafts or bills as cl. (i)–(iii), and in cl. (ii) as so designated, struck out requirement that shipping… · (a)
Pub. L. 97–290 designated second independent clause of second sentence of existing provisions as subsec. (b), substituted "no institution shall accept such bills, or be obligated for a participation share in such bills, in an amount equal at any time in the aggregate to more than 150 p… · (b)
Pub. L. 97–290 designated first proviso of second sentence of existing provisions as subsec. (c), struck out provision applying the subsec. to all banks regardless of capital stock or surplus, substituted a limit of 200 per centum for 100 per centum, and inserted provisions relating to… · (c)
Pub. L. 97–290 designated second proviso of second sentence of existing provisions as subsec. (d), substituted "Notwithstanding subsections (b) and (c), with respect to any institution, the aggregate acceptances, including obligations for a participation share in such acceptances, grow… · (d)
Pub. L. 97–290 designated first independent clause of second sentence of existing provisions as subsec. (e), substituted "institution" for "member bank" and "bank" and "accept bills, or be obligated for a participation share in such bills, whether in a foreign or domestic transaction, … · (e)
Pub. L. 97–290 added subsecs. (f) to (h). · (f), (g), (h)

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.