Common Contracts

Contract

January 19th, 2022

• Filed
  January 19th, 2022

cle IV, section 3, respectively, of the agreement, is authorized and directed to issue special notes of the United States from time to time, at par, and to deliver such notes to the Bank in ex- change for dollars to the extent permitted by the agreement. The special notes provided for in this subsection shall be issued under the author- ity and subject to the provisions of chapter 31 of title 31, and the purposes for which securities may be issued under that chapter are extended to include the purposes for which special notes are authorized and directed to be issued under this subsection, but such notes shall bear no in- terest, shall be nonnegotiable, and shall be pay- able on demand of the Bank. The face amount of special notes issued to the Bank under the au- thority of this subsection and outstanding at any one time shall not exceed, in the aggregate, the amount of the subscription and quota of the United States actually paid to the Bank under article II, section 4, and article IV,