United States Code

12 U.S.C. § 289

Dividends and surplus funds of reserve banks; transfer for fiscal year 2000

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Bills that would change it 22

  • S 954 BITCOIN Act of 2025 Amends 289(a)(3)(A) · introduced · 119th Congress
  • HR 2032 BITCOIN Act of 2025 Amends 289(a)(3)(A) · introduced · 119th Congress
  • HR 5993 Federal Reserve Loss Transparency Act Amends · introduced · 118th Congress
  • HR 7900 National Defense Authorization Act for Fiscal Year 2023 Amends 289(a)(3)(A) · introduced · 117th Congress
  • HR 8918 Federal Reserve Loss Transparency Act Amends · introduced · 117th Congress
  • HR 4590 Promoting New and Diverse Depository Institutions Act Amends 289(a)(3)(A) · introduced · 117th Congress
  • S 4295 Financial Data Transparency Act of 2022 Amends 289(a)(3)(A) · introduced · 117th Congress
  • HR 4350 National Defense Authorization Act for Fiscal Year 2022 Amends 289(a)(3)(A) · introduced · 117th Congress
  • HR 1996 Secure And Fair Enforcement Banking Act of 2021 Amends 289(a)(3)(A) · introduced · 117th Congress
  • HR 925 The Heroes Act Amends 289(a)(3)(A) · introduced · 116th Congress
  • HR 5322 Ensuring Diversity in Community Banking Act Amends 289(a)(3)(A) · introduced · 116th Congress
  • HR 2513 Corporate Transparency Act of 2019 Amends 289(a)(3)(A) · introduced · 116th Congress
  • HR 1595 SAFE Banking Act of 2019 Amends 289(a)(3)(A) · introduced · 116th Congress
  • HR 1500 Consumers First Act Amends 289(a)(3)(A) · introduced · 116th Congress
  • S 2155 Economic Growth, Regulatory Relief, and Consumer Protection Act Amends 289(a)(3)(A) · enacted · 115th Congress
  • HR 4293 Stress Test Improvement Act of 2017 Amends 289(a)(3)(A) · introduced · 115th Congress
  • HR 4061 Financial Stability Oversight Council Improvement Act of 2017 Amends 289(a)(3)(A) · introduced · 115th Congress
  • HR 4545 Financial Institutions Examination Fairness and Reform Act Amends 289(a)(3)(A) · introduced · 115th Congress
  • HR 1116 TAILOR Act of 2017 Amends 289(a)(3)(A) · introduced · 115th Congress
  • HR 4607 Comprehensive Regulatory Review Act Amends 289(a)(3)(A) · introduced · 115th Congress
  • HR 4296 To place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking ag... Amends 289(a)(3)(A) · introduced · 115th Congress
  • HR 1892 Bipartisan Budget Act of 2018 Amends 289(a)(3)(A) · enacted · 115th Congress

The law today

From the official United States Code, current through Public Law 119-121.

(a) Dividends and surplus funds of reserve banks (1) Stockholder dividends (A) Dividend amount After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend on paid-in capital stock of— (i) in the case of a stockholder with total consolidated assets of more than $10,000,000,000, the smaller of— (I) the rate equal to the high yield of the 10-year Treasury note auctioned at the last auction held prior to the payment of such dividend; and (II) 6 percent; and (ii) in the case of a stockholder with total consolidated assets of $10,000,000,000 or less, 6 percent. (B) Dividend cumulative The entitlement to dividends under subparagraph (A) shall be cumulative. (C) Inflation adjustment The Board of Governors of the Federal Reserve System shall annually adjust the dollar amounts of total consolidated assets specified under subparagraph (A) to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis. (2) Deposit of net earnings in surplus fund That portion of net earnings of each Federal reserve bank which remains after dividend claims under paragraph (1)(A) have been fully met shall be deposited in the surplus fund of the bank. (3) Limitation on surplus funds (A) In general The aggregate amount of the surplus funds of the Federal reserve banks may not exceed $6,825,000,000. (B) Transfer to the general fund Any amounts of the surplus funds of the Federal reserve banks that exceed, or would exceed, the limitation under subparagraph (A) shall be transferred to the Board of Governors of the Federal Reserve System for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury. (b)  1 Transfer for fiscal year 2000 (1) In general The Federal reserve banks shall transfer from the surplus funds of such banks to the Board of Governors of the Federal Reserve System for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury, a total amount of $3,752,000,000 in fiscal year 2000. (2) Allocated by Fed Of the total amount required to be paid by the Federal reserve banks under paragraph (1) for fiscal year 2000, the Board shall determine the amount each such bank shall pay in such fiscal year. (3) Replenishment of surplus fund prohibited During fiscal year 2000, no Federal reserve bank may replenish such bank’s surplus fund by the amount of any transfer by such bank under paragraph (1).
Official text at uscode.house.gov ↗